The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-03-01
UNPRECEDENTED c
FOREIGN WHEAT DEMAND CON
TINUES ACTIVE.
COTTON SITUATION ONE OF fIRhNESS
Demand for Iron and Steel at the West Con-
tinues Large and Prices Firm--A Very
Large Drop in the Number
of Failures.

COMMANDS Weekly Review Of Trade
will say in its issue of tomorrow:
Foreign possibilities have much affect
ed speculation and caused hesitation IN
some large business operations. poss1-
bly, accounting in part for a cheek IN 'E"
rapid advance Of wheat, but industrial
production continues larger than ever
a few more works being added to the
renewed evidences that the volume OF
business is larger than IN February OF
any previous year. Nor is there any
mpto of a senseless craze based on
rising prices. The legitimate export AMI
domestic demand presses closer to the
CAPACITY Of works. and though there IS
no frighty advances in any line, and ii
all narrowness of profit IS 4 matter 81
COMPLAINT: new business for this Gull
season is unprecedented.
Wheat continued its progress upward
until 1OS.15 was reached on Monday, but
declined 3H cents later, as if there We're
fear that Spain would somehow stop
British vessels from taking wheat across
the waters. Any yielding based on for
eign possibilities deserves little notice,
but the price has advanced about 10
cents since Chicago spectators last took
occasion to shake off weak followers and
the opportunity for reaction was lmvlt-
ing. There is no abating of foreign de-
mand. Atlantic exports We're 1,96S,S14
bushels, tlour included, for the week
against 1.326,444 last year, and Pacific
exports 1,576.376 against 136.464 last
year. In view of current excitement
these figures are mOr2 important than
the aggregate for -four weeks, 1O,49b,012
bushels against 6.5SS,413 last year from
Atlantic ports and 4,O53,O2S against l.
611,246 from Pacific ports.
Corn exports for the week We're 1l.o
per cent less han last year, but the
cash price declined but ~sligatly. The
spot price of cotton was no affected.
1t is not the season for mucl i'm
provement in textile nanufactura. hut
the cotton branch has gained by the
closing of the strike n one Fail River
mill mi by the addition of some works
at the South. The wooden manufacture
meets many cancellations, especially in
goods sod early without definite price,
but is doing more than ever at this sea-
son, though new business in the higher
grades of Worsteds, and woolans is not
particularly encouraging. Sales of wool
are slow, with weakness in clothing.
amounting to about two cents decline
from the highest point, indicating that
mills have at present abundant stocks.
but some are selling foreign wool in
order to take supplies of other qualities.
In goods Of medium and low grades the
demand continues large. The silk manu-
facture shows a remarkable increase.
during the last six months. having i'm
ported raw material far in excess Of
consumption in any previous year and
at a rate of 120 per cent above the
imports in the las census year.
The iron manufacture has more de
mand for products and slightly better
prices for Bessemer pig. which has al
vanced to 5000 at Pittsburg, with grey
forge unchanged there, local coke strong
at Chicago in spite of some Southern
weakness and eastern Anthracite really
unchanged, though quotations are a
shade lower. No finished products have
changed in price, II all are strong in
demand, excepting bar, which a combina-
ton has failed to advance Some large
contracts are reported, especially in car
and bridge building, ship and structural
work, and the demand for sheets is
heavy. Minor metals change but little,
tin weakening a shade to II cents with
large receipts.
Failures for the week have been 90:
in the United States against Dog last
year and 80 in Canada against 30 last
year.
BRADSTREET'S REPORT.
New York, Feb. 25.-Bradstreet's to-
morrow will say:
While business of a speculative nature
has been quick to reflect the increasing
strain in political affairs in reduced
values n Withdrawals or curtailment 81
activity in some lines. there is little 1C
indicate that the volume of di%Stributiyt
trade has been reduced, and reports te
Bradstreet's this week. so far as til,
latter branch of business is concerned
are among the best received this year
With few important exceptions the pric.
situation is one of strength. while tn,
enlarged demand for coarse grains is
taken to reflect the turning of attention
from higher priced cereals to those of {
1--WE priced character. At the east
Last weeks squirt in the dry goods tradv
at Boston does not seem TO have held
but at New York there is considerably
more doing in the jobbing trade. The
cotton situation is one OF irnncss. re
f1ectlng alike the cur~tuilr1na- of rrCduc
ton growing out of labor troubles ant
the hrmness of raw cotton induced b,
a good export demand. Wool is firm bu
the demand has perceptibly slackoned
and there is less doing III manufa cturpt
goods. The best report as TO t1o dis
trlbutlon of trade made so far this yea,
comes from ile central west. Spring
trade is reported earlier taaa usraI
Kansas City, perhaps the most i'm
portant market for agricultural imple
ments in the country, reports the de
mand exceeding all records and sale,
limited only by the ability to deliver or
ders. The demand for iron and ste,
at the West still continues large an;
prices are firm. A feature Of the Chi
cage trade has been the placing of an or
der for 5000 tons of steel rails for
railroad in Alaska. Almost euuall
good reports come from the Northwest
where trade is reported either full
equal to or ahead Of last year. Nh