The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-28
BAAOSTREE7'S
WEEKLY
TRADE REVIEW
A Speculative Outburst in
Wheat and Cotton.
RISE IN STEEL AND IRON
MOVEMENTS FOR COMBINATION
BECOME A CRAZE.
BETTER REPORTS FROM LUMBER TRADE
Some improvement in the Dry Goods Marke'
Wool, though Firm. is Slow Of Sale,
and the Manu- curers'
Prices are low.
Prices are low.

Prices are ON.
New York, Jan. 27-Bradstreet's of
tomorrow will say:
The apparently steady rise in the
tide of general business has been diversi-
fed this week, by an outburst of specula-
tive interest in a number of staples, no
tably cotton and wheat, which hereto
fore have registered steady gains on ac-
tual consumptive demand rather than
on the development of marked bullish
speculation. Large transactions and
buoyant prices have been features in
these staples, and signs are not wanting
that sympathetic, though smaller move
ments in number of other lines are
either under way or contemplated.
Exceptional industrial activity, par
ticularly in the iron and steel trades is
another feature of note, and here. too,
price advances are all but general, re-
hecting so far as can be seen confidently
the urgency of consumers requirements,
the claim in fact being made that specu-
lation has not as yet entered into the
buying in this branch of industry. The
same claims, however, can hardly be
made as regards number of movements
toward consolidation in this and other
industries, where in fact, the move
ment toward combination is described as
approaching a virtual craze. In the regu-
lar channels of distrubitive trade. con-
ditions continue. in the main satisfac-
tory, the volume of spring orders at
most markets being reported as larger
than in any recently preceding year at
this time
while it is hardly possible to fix the
entire responsibility for the bullishness
in wheat and cotton upon the movement
which so far has proven so successful
in stocks, the claim is freely made that
considerable profits realized in the stock
market have sought expression in the
channels of staple food and textile dis
tributions. Color is given to this claim
by the fact that the situation in actual
wheat shows but little change from re-
cent weeks. 1t is true that the tendency
to pare down alleged official estimates
of Russian crops, and some weather re-
ports from the West have been more
encouraging to the holders of actual
wheat, but the magnitude of the outburst
of new buying. shared in by former per-
sistent shorts in wheat alone hardly ex-
plains the activity in this market, which
has resulted in the highest prices
reached since the collapse of the Letter
deal.
Activity in demand for nearly all
classes of iron, and steel is reflected in
advances for nearly every class of pig
iron and in steel billets, rails, wire and
plates. Announcements of large num-
Der of consultations and combinations,
projected or under way. are also a fea-
ture In the domain of other metals,
notably copper and tin, speculation and
actual demand alike make for higher
prices.
Better reports are received from the
lumber trade in a number of cities, and
all the old advances are maintained with
confidence in the outlook for spring bust
ness.
"Some improvement in the dry goods
trade is to be noted at Eastern points,
notably Philadelphia and Boston, where
advances in cottons are maintained.
"Wool, though firm is slow of sale and
finished products, with the possible ex-
ception of dress woolens do not move
as freely as hoped for, feature this
week, in fact, being the very low prices
announced by some manufacturers.
General industry is reported active,
notably soft coal mining and ship build
ing. An encouraging feature in the
former trade has been the wage settle
ment made with 100000 western coal
miners for another year.
Wheat, including flour. shipments for
the week aggregate 1891 72 bushels,
against 5.19S,671 bushels last week;
5.026.024 bushels in the corresponding
week of 1898; 2,515 40S bushels in 1897;
2,550.206 bushels in 1896, and 2,4S3, S5S
bushels in 1895 Since July LIST the ex-
ports of wheat aggregate la, 232,2 91
bushels, against 146, 1914 $50 bushels last
year.
Corn exports for the week aggre-
gate 3,695.733 bushels, against 2,92S,-
191 bushels last week; 4,926,559 bushels
in this week year ago; 3.011 ,602 bush
els in 1897; 3,197. 0S6 bushels in 1896,
and 942, 461 bushels in 1895. Since July
list, this season corn exports aggregate
,95,7f5,923 bushels, against 96,o93, 81
bushels during the same period year
ago.
"Business failures are fewer in num-
Der, aggregating GAG, against 262 last
week: 2SS in this week year ago, 326
in 1897: 1913 in 1896, and 312 in 1895.
Business failures for the Dominion of
Canada for the week number 81, against
30 last week; 40 in this week year ago,
Sc in 1897; SO in 1896, and 90 in 1895"
HEsTER's COTTON STATEMENT.
New Orleans, La, Jan. 27.Secretary
Hester's weekly New Orleans cotton ex-
change statement shows decrease in
the movement into sight compared with
the seven days ending this date last year
of $4,000, an increase over the same
days year before last of $4,000. The
amount brought into sight for the twenty
seven days of January 985,77O, against
1,1S1 1852 last year. The total move
ment for the 149 days from September
LIST. TO date is $500, 206, against S,47S,-
1875 last year and7, 022,906 year before
last. The movement since September LIST
shows receipts at all United States ports
6,637, O51, against 6,52S, 0S2 last year; in