The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-03
THE PRICES ENCOURAGING
CONTINUED FOREIGN DEMAND
FOR OUR FOOD PRODUCTS.
EXPORTS THIS WEEK LARGEST REPORTED
The Ocean Freights Situation is Easier, and
the Supply of Tonnage Shows Some
Enlargement. Anthracite
Coal Higher.

New York. Dec. 2.-BradStreetS to-
morrow will say:
THE business world enters on the clos
ing month of the year with so many
favorable and so few depressing features
in sight as to leave little doubt that the
year of 1898 US Il whole must hereafter;
furnish the basis for estimates when
comparisons of large business are to bel
made. Nearly all obtainahle statistics
and reports as to the volume of business
point to the present year having heavily
exceeded any former year in the amountl
of business done, and though COMPARE
sons as regards prices are not so favor
able as in earlier years. notably 1892
and 1890. when quotations of most sta
pies were considerably higher, still the
expansion in trade due to increased
population and enlarged foreign demand
for our products has resulted in an az
gregate volume of business done consid-
erably in excess of any former year.
@In the general business world the
leading event of the week has undoubt-
eddy been the placing of very large or
ders. estimated at between 100000 and
100000 tons of steel rails. more than
one quarter of the entire country's am
nual production at prices which. if not
entirely satisfactory to the competing
rail mills. are encouraging. because they
indicate that no check caused by combi-
nation of interests will be administered
10 our growing export trade, which bust
ness, coupled with the possible demand
next year for structural steel for build
ing purposes, is likely to play a most
important part in the government of
prices of steel products generally. Nom
inal prices of steel rails show little
change from those ruling some time ago.
but quotations for Bessemer iron and
steel billets. reflect the stimulating in
fiuence of the removal of the uncertainty
regarding the placing of this large vol |
ume of rail business.
Foreign demand for our food products
has continued an encouraging feature
Of the cereal situation. and wheat prices
particularly are Il little lower on the
week. Notwithstanding very heavy farm
crs' deliveries and increasing domestic
stocks. Exports this week are the
largest ever reported rejecting partly
nlaterialiZing of early reported business
and partly increased foreign buying at
concessions earlier in the week. Corn
parted company from wheat and are
higher on the week ON improved specula-
tive buying and enlarged export trade.
The ocean freights situation is slight
ly easier and the supply of tonnage
shows ONE enlargement. The prices
situation generally is an encouraging
one, and advances outnumber declines.
The early arrival of winter weather in
the South has tended to make smaller
enlarged speculative and spot purchases
cotton crop estimates more popular. and
have advanced prices for this staple.
Anthracite coal has been marked up in
some markets. largely owing to cold
weather, but there is yet a few new
developments in the direction of control
of output. Tin and copper are again
active speculatively, and tin plates re-
fleet the formal launching of the new
combination in slightly higher quota
lions. The boot and shoe situation has
been improved by the severe weather
largely experienced as has the outlook
for rubber goods. Leather is steadier
and hides are higher an unusual feature,
ut this time of the year The recent adj
vance III raw sugar appears to have Gull
minated this week, and slight reaction
is shown on reports that beet sugar inn
ports from Europe arel likely to heavily
increase. Refined is firm, NovemberI
business having been very heavy.
The advent of winter has tended to-
reduce the demand for building lumberI
which in some markets particularly the
East, was depressed during the summer
because of the inactivity in building. A
rather better tone is, however, now REL
ported and the opening of the new year
,t.1 H. ar,,Fl
advances in prices of pine and spruce
lumber are well maintained, stocks in
dealers hands are not at all heavy and
adyices both from the yellow pine and
cypress producing sections of the South
and the white pine markets of the North
and Northwest are that heavy output
has been as n rule satisfactorily hand-l
led. The hard wood situation main
tains all of the strength previously noted.
The domestic wood working demand isl
of good volume while export business is
steadily increasing and prices as Il whole
are considerably higher than they were
at the opening of the year.
THE general jobbng trade has been
rather smaller at this time of year and
severe storms in the East have hurt dis
tribution. but the demand for holiday
goods is of an encouraging volume and
promise well.
Business failures are of normal vol
ume. numbering 212 for the week,
against 162 last week. $40 in 1897; 800
in 1896; 315 in 1895 and 3D. in 1894.
Wheat, including flour, shipments for
the week aggregate 7,4S3,959 bushels,
against 5.S24,726 bushels last week;
6.499.960 bushels in the corresponding
week OF 1897; 1868, LOO bushels in 1896;
3.156,S2S bushels in 1895 and BOIL $50
bushels in 1894. Since July list, this
year. the exports Of wheat aggregate
96.19S. 142 bushels, against 101,93S, 539
bushels last year
Corn exports for the week aggregate
4.623.9SS bushels, against 3,993,S46
bushels last week, 4.5S5,S06 bushels in