The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-04-01
DUN'S TRADE REVIEW
Something Like a Check in
Business.
CAUSES OF THE CHECK
I-NCI,u1 Al NrTN ApOIFU npER A.
ABOUT OPERA
TION OF NEW COMBINES.
SHADE or DOUBT AS TO FOREIGN AFFAIRS
Heavy Buying Since First of January TO An
ticipa.e Market. Doubt Of High Prices
Continuing in Iron Causes With
draWaI of Orders.


New York. March SIR. g. Dun
and Company, in their Weekly Review
of Trade will say tomorrow:
Failures during the first quarter Of
1899 have been in amount of liabilities
not more than about $50 $3.50, $50. against
$31. 110,1I2 last year, $4S,O07,910 in
1897 and S57. 90. 135 in 1896 While the
later returns may increase the amount
for the quarter little, the complete
return which will be given next week
VIII be very remarkable in comparison
with that of any previous year.
Business is not at present improving.
There has heen something very like a
check partly the I suit of Il heavy buy
ing since January LIST to anticipate the
market. partly caused by the uncertainty
about the operation of many combira-
tions and shade of doubt about foreign
affairs also had some influence. The
new rule of the clearing house banks nj
New York about taxation of country
checks also causes some shifting of &C
counts.
"A period of transition from one owner
ship and mana cement to another and
from one industrial system tn another,
when it affects many hundreds almost
throughout the country. inevitably causes
some hesitation i'll business. a little
later the many hundred concerns may be
doing more business than ever, as they
We're just before combinations were eff
fected. But at the point of transition
nobody knows just what to expect.
There is much withdrawal of iron or
ders because continuance of high prices
is doubted. because great purchases made
by many works have not been met by
orders. and because works affected by
many other combinations proposed are
not inclined to buy more largely.
Prices are strongly maintained at
S16.15 for Bessemer pig at Pittsburg.
the Valley Association having sold $780,
900 tons for delivery in the last half
of the year at S14.50 and grey forge
is stronger at S1440 but hesitation APP
pears at Philadelphia about maintenance
of future prices. Chicago is inactive
compared with recent weeks. With mo
sales reported except 10000 tons at
Chicago. rails are quoted at 81 higher
there and as much at Pfttsburg. and the
sale of 100000 tons steel billetS TO the
lin Plate Company set prices for 100
pound plate at S4.05 after July 1st
Structural demand increases, but bar
mills at the West and South are consol
idating and are not disposed to take
large contracts, although the Pittsburg
mills are asking 40 because behind
their orders. For plates the demand
far exceeds the supply at Philadelphia
and Chicago, and the leading mills at
I'ittsburg are full until August or later
In hoops, cotton ties. tubes and other
products, expected consolidation affects
business. Minor metals are stronger for
tin at 24c, with consuming demand and
for copper at Sl15 owing to London
speculation. More evidence appears that
the wooden manufacture is not hclp<d
rs yet by new combinations or the pros
pect of them, and the buying demand
has been disappointing in many ways,
though in dress goods trades active
Salcs of wool were 20.S09, 100 pounds a t
three chief markets, in four weeks.
against S,S17 500 pounds last year. til n
prices were held at the top, J5,SSG,20O
i'll 1897, when prices were being rushed
upward ard 3O,0S2,J9 pounds in 1892,
when manufacture was normal, indicat-
ing a fair but not extraordinary demand
for goods. Prices are said to be quiet
for Ohio y y at DC. The boot and
shoe business is again halting because
of difference between buyers and sellers
as to prices
The fluctuations of the wheat market
have been large and tend on the whole
toward higher quotations. Exports at
Atlantic ports, flour included, have been
for four weeks 11,679,512 bushels,
against 9,392, 49o last year; Pacific s.
963,6SI bushels, against 2,774, 112; and
the other exports, not given last year
| make the total 1871 ,0S5 bushels. Yves
tern receipts have been 12.949,S1J bush
els, against 996S,373 last year
Railroad earnings for three weeks or
March have been 4. per cent larger than
last year and 9.S per cent larger than
in 1892. and the eastbomd tonnage
from Chicago in four weeks HAS been
4J9,45S toms, against 622,90 last year
and 356,365 in 1892. which indicates
quite clearly the remarkable depression
in rates a year ago.
Failures for the week have been 1914
in the United STATES, against 80 last
year and 70 i'll Canada, against - last
year.