The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-03-04
DUk'S TRADE REVIEW
February's Business the
Greatest Ever Known
AN ADVANCE IN WAGES
INCREASES OF FROM > TO 10
PER CENT MADE.
RISE IN PRICES OF STEEL AND IRON
The Demand is Greater than the Works Can
Supply. The Demand for Grain Also
is Very Great. Textile In
dustries Progressing.
dustries Progressing.

0usuleS PROGRESSING
New York. March 3.--K. G. Dun and
Companys weekly review Of trade will
say tomorrow.
THE business for the past month
was far the greatest ever known in
February. Clearing house exchanges
were about S7,000,00O against SCOTT
5l3, S44 last year. and 54.2 per cent lar
ger than in 1892. In all the years of
weekly commercial reporting there has
been no other week in which the reports
from all parts Of the country have
been on the whole so good as they are
this week. Moreover, during the past
week there has been general advance
in wages. immediate or prospective At
most points the advance of 10 per cent
or more was entirely voluntary. 1t
has averaged from TO 10 per cent
in tin plate works, and about 10 per
cent in other cases, and as it affects
much over 100000 hands it will add
greatly to the purchasing power of
the wage-earnerS.
The returns of failures in February.
while showing larger liabilities than in
January, are very encouraging. y
rather unusual number Of large failures
in scattered branches Of manufacture
has sweled The aggregate, including one
concern for 81 ,000.000 in electrical APP
paratus, but in nearly all branches the
statement indicates a remarkably
healthy condition in spite of these
failures, while in trading the defaulted
liabilities are smaller thain in January
or any previous month for six years.
In prices the striking feature has
been the rapid advance i'll iron and
steel products. resulting from demand
greater than the works in the country
can supply. All the works of impor-
lance have been crowded with orders
running to July and later. Belated
buyers have given life to concerns
long inactive. and as these can add
but little TO the output the markets have
been entirely controlled by the buying
demand. All sorts of prices have been
paid. some for early delivery, and
some for delivery after July 1st. bus
$3.50 is quoted for Bessemer pig at
rittsburg. $3.50 for grey forge and at
the East $1425 is quoted for anthra-
cite. No. /. Prices of finished products
have also been advanced So pr ton for
Eastern and Western bars, plates and
structural forms. and SO for wire nails.
The demand has not yet been checked,
and some heavy orders have been taken
at all points, even at the highest prices
named, but the export business is likely
to be stopped for the present.
Holders of wheat have been looking
for the report of the Agricultural De-
partment. regarding stocks held by farm
ers March LIST, but commercial reports
indicate that such are the largest ever
held at this date. They have TO sup
port them the Western receipts from
farms which have been larger than for
past years in February. for four weeks
12,J1 900 bushels. against 10,0O4.600
busels lasi wear while Atlantic exports
have been for four weeks 12,S2.), 1916
bushels, against 9.S1S,636 bushels last
year. The Pacific exports have been
900, 1891 bushels for tho week, against
fi4,993 bushels last year. and from other
ports 1SI, 800 bushels have been shipped
during the past week.
Rarely if ever has there been SIS
great IL demand for grain at this season
as now appears, but the price has
yielded 1Ac for the week, although corn
has advanced 1ac for spot. the receipts
having fallen.
The textile industries are making pro
gross. There has been a strong increase
in the demand for cotton goods, result
ing in further advances in the prices
for some, while in wooden goods q slight
advance appears Notwithstanding de-
cline in the prices of wool during Feb
ruary. The decline has not been general
in wool. nor has the advance in goods.
The heavyweight season has been dis
appointing and the manufacturers are
willing to get on for the time as best
they can in the hope that larger de-
mand will come from the clothiers little
later.
Failures for the week have been in
the United States 1876. against pol last
year and AZ in Canada, against - last
year.