The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-22

CONTROLLED By LAWS GOVERN
ING SMALL COMPANIES.
FAILURES SMALLEST KNOWN FOR SEASON
Decrease in Value of Exports Of Great Staples
Due 10 Prices. Increase in Other tx
ports. No Longer Fear Of
Deficient Crops.
Deficient Crops.

New York. July CIR. G. Dun &
Company in the Weekly Review of
Trade will say tomorrow:
'Optimism is always popular, but
more than half the time dangerous. Sew
en- years of hating and reaction histori-
cally follow three of rapid progress.
But the three of progress have not yet
passed, and the most cautious search
discoses no, sign Of halting. Foreign
anXieties have been real but seem to he
passing, and Europe has begun paying
literally for more food without expccta-
ton that securities can be sent in settle
mcnt. The extensive labor strikes have
vanished, and the local strikes do not
affect national business. Fears of new
and powerful corporations lessen as il
is found that they are controlled by the
same laws which govern the small com
panies.
above all the general evidences of
prosperity continue convincing, failures
are the smallest ever known for the
season, railroad earnings the largest, and
solvent payments through clearing
houses in July have been 1876 per cent
larger than last year, and 62.3 per cent
larger than in 1892, the best of the
previous years.
Official returns of the most wonder
full year in the nations commerce show
a decrease of $S5 100000 in value of the
great staples exported, largely owing to
hytf nm # al,
100000 i'll other exports. mostly manu-
features.
Fear of deficient crops has been
buried under Western receipts from
farms amounting to 1866 ,046 bushels
of wheat for the month thus far,
against 3.773,10S last year. and 15,29S.-
Zoo bushels corn, against 6,6l2,31o last
year Exports of wheat. Atlantic and
Pacific have been 1903 1913 bushels du-
ring the month thus far against 1899,
259 last year, and of corn 9,093.041,
against 5G97,S47 last year. Prices de-
clned sharply with assurance of ample
supplies, wheat 3 cents and corn ~
cents, which is the more significant in
view Of the previous heavy exports of
both. Cotton also is going abroad large
ly, though the price remains 6.19 cents.
Pig iron has not advanced this week.
but mainly finished products. steel rails
to $50 ut Pittsburg, bllets to S34: sheet
bars to $500, sheets to 3 cents at Pitts
burg, and cut and wire nails both. So
per ton The American Tin Plate Com
pany settled with its hands by granting
10 per cent. more wages. and raised
the prices of plates 30 cents per box.
Still demands do not abate, though works
have to refuse many orders. In plates
one large order for shipment to the Clyde
was received; in bars less urgency of
demand appears at the East, but in
sheets works are about filed for the
year, and in structural shapes, besides
$500 tons for the bridges and 1,200
for buildings at Chicago. proposal
is reported for 5000 tons to build Il
palace for the Mikado of Japan.
''Coke is unchanged in price and likely
to break the record for production this
month This is lifted to $50 cents by
wild speculation ut London. copper is
firm ut 1872. and lead is said to be sold
by the smelling company below 400
cents the quoted price.
wool is still advancing, Coates
Brothers circular of the 10Th. showing
II TlSt oI -.Jo cents since MAY IDI1.
speculation being particularly active in
fine wool, because it is rising abroad,
through in less demand for manufacture
here than common and medium grades.
At the three principal markets 1886,
100 pounds have been sold in three
weeks. against 3I.12i, 700 in the same
weeks of 1897 before the present tariff
was enacted.
Manufacturers do not appear to he
buying largely, though the demand for
goods is better, and has caused an adj
vance in clay and some other kinds.
Cotton goods are unchanged but fairly
strong.
Leather is in good demand and slight
~ higher, and hides at Chicago rose
slightly with limited receipts.
Failures for the week have been 1I6
in the United States. against POI last
year. and % in Canada, against II last
year.