The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-12-20

Trade In Iron and Steee.
Mills Refusing Foreign Orden on Ae.
count OF Being Fully Oecupied for
some TYne 60 Come-Our Foreign
Trade lmmense Great Activity I'm
All Branches OF Business
New York, December 16.-Brad-
streets tomorrow will say:
Likening the general business OF the
country TO that Of a water course. IL
may be authoritively stated that e
ly all the channels Of seasonable trade
are at the present time running full,
stream is virtually out OF the banks.
This is particularly the case in iron and
steel where production and consump-
tive demand are alike going on at an
unprecedented rate at a time, too,
when it is usual to o for quietness,
and even dizziness in this country.
Nothing like the ACTIVITY in this branch
Of trade has been seen for many years
past, if, indeed, it has ever been equal
ed. Advices from all the leading CEN
tiers of iron production are OF an ex-
ceptionally & demand for the crude
and manufactured products and Of ad-
vancing prices, the only anxiety express
ed being hat by buyers desiring early
delivery. Probably eve in the coun-
try's history has it been possible for
an American steel company to refuse
a profitable order for rails for foreign
account on the plea that it's mills were
already fully occupied so far ahead as
to preclude it's trying for the business.
Higher prices are given for pig iron,
steel billets, soft steel and all sorts OF
car material, while the production of
raw material is at it's maximum. Ship
building, too, contributes its portion OF
activity to the iron trade by its urgent
calls for material.
In other lines of business the situa-
ton as regards prices is a favorable
one, notable among the advances re-
ported being nearly all the cereals, cot
ton, coffee, lumber, copper, lead and a
variety of other less prominent staples,
Following the slight recession shown
in wheat values of last week an i'm
proved demand for export has again de-
veloped, which is evidence of the fact
that stories of keen competition from
Argentina and Russia ave been more
or less discounted, the United States
remaining, as for some time past, the
principal source of supply for the
world.
Increased interest is being taken in
cotton at the advanced price and the
situation of the manufactured product
has been strengthened by skillful man
80 Aho --;r% o1oth cif11ofinn
which, in turn, has induced a more
liberal demand for kindred products
for the spring trade.
Seasonable %quietness is reported in
the lumber trade, but prices retain all
their old strength, and an active de-
mand is looked for with the turn Of the
year.
Holiday trade is reported extremely
active at most markets.
The country's export trade is of the
largest volume ever ~known-that To-
November surprising the total for De.
cember a year ago, with the indications
favornig a total trade for the calendar
year at least one sixth larger than
year ago, and our sales abroad aggre'
eating two dollars for every dollars
worth we buy.
Wheat, including -four, shipments
for the week aggregate 6,O76,625 bush
els. portland, Me-, not received,
against 4,3SS,535 last week, 4,129,S7S ii
the corresponding week of 1897; $685.,
943 in 1895 and 3,554,3 8 in 1894. Since
July LIST, this year, the exports of wheat
aggregate 1O9, 4O3, 719 bushels, agains
118, 500, 097 last year. Corn exports fol
the week aggregate 3,251,936 bushels
against 4,3S,535 last week, 4,129,S7S in
this week a year ago, 2,814, $50 in 1896
2,057, $40 in 1895 and 658, 066 in 1894
Since July LIST this year, corn exports
aggregate 72,278, 700 bushels, agan;st
II, 1881, 443 during the same period las
year.
Business failures about nominal
numbering 233 for the week, against
237 last week, 283 a year ago, 359 in
1896, 3s6 in 1895 and 329 in 1894.