The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-05-30

Uneasiuess without C~ause-Facts ana
Figures Indicate b R~everse-hfon
Production Far Behind banana WIN
Prices Increased-Heavy saics Oh
wool-Redueed Grain Exports.


New York. May 2s.-R C. Dun d
Co.'S weekly Review OF Trade will say
tomorrow:
There is some fear tina has no other
source than the habit OF fear. Men nave
found for so many years disaster
treading on the heels Of apprehension
that they lack faith in good things
present and to come. Every year
there is worry about short crops. and
yet the crops grow larger. The spec
ire OF monetary trouble haunts men
who know that the country Is strong
beyond any need. Promoting
alarm men who are really quite aware
that it Is only needful TO put promoted
stocks in a class by themselves; but
ali the time the volume OF business IS
rising and the weeks payments
through the chief clearing houses are
ST. per cent. larger than last year.
and 6S per cent. larger than in 1892. Fo:
the month thus far the daily average ISL
$40 per cent. larger than last year.
and 66.4 per cent. larger than in 1892.
Moreover, this week and every other
week brings larger wages TO many and
increased purchasing power. and the
demand for products is consequently
expanding in all branches of consump-
ton.
The rise in bessemer pig iron to Sl1.65
at Pittsburg@S2 in two weeks-in grey
forge to $l5.25, in anthracite No. l here
to s16.75, and in local and southern iron
at Chicago results directly from the fact
that supplies are for the time less tina
the demand. Many more furnaces are in
haste to begin work, some succeeding,
but others hindered by difficulty OF
getting prompt deliveries OF needed
parts OF machines, or prompt supplies
OF ore and fuel. The natural remedy,
that new orders now call for less work
than was done IN April or March, Is
for the time, hidden by engagement OF
nearly all concerns for months ahead.
TIL largest and best works are catch
ing up with their orders, though much
behind and obliged to refuse many,
while others are entering the field. IL
as proof OF an astonishing demand that
after nearly five months this conges-
ton continues, and the rise in prices,
including advances OF s. per ton in
plates and bars. is not forced or un-
natural.
Minor metals have followewd London
30 long that tin sticks at 1856 cents,
though stocks are large and the de-
mand is remarkably poor, and lead at
> 45 cents, though the demand IL slow.
while copper weakens to 1917 cents for
lake, British statistics indicating a fall
or nearly a quarter in consumption for
four month this year. compared with
last.
The heavy sales of wool, 80, 954, 900
pounds, at the three chief markets In
three weeks. against 20, $50, 800 for thA
same weeks in 1897, when the disaA
trous speculation OF that year had begun
to turn, and APP. $50 In 1892. are mostly
due to spectators. as manufactur-
ers are doing scarcely anything. Weeks
g they held that prices were too
high. even after some decline, for the
4 prices at which goods Nntrl1 DO -ll.
but western and eastern spectators
have settled 1T that the manufacturer
will be forced to buy at such prices as
they may fix and are taking quantl-
ties.
Tbs cotton mills have a fairly good
demand after a considerable advance IN
prices OF goods, and are producing
largely. The material has been steady
at "a cents, with no ground to expec:
much change and the best reports in
dictate a decrease in acreage OF 4 per
cent.
Wheat advanced 2 cents. but lost
nearly all the gain on Friday. Western
receipts have fallen to about half last
years and exports in four weeks from
! Atlantic and Pacific ports have been
IL, 59O,16S bushels, -four included, against
| 1851 ,SS2 last year, while from FORTH
ern lake ports 7,926,037 bushels have
gone out this year; but men forget that
the foreign demand II not as large as
1t was last year, with famine irnpend-
ing, is much larger than in the same
weeks of 1897, when wheat exports were
only 5,704.334 bushels, and also forget
that the Letter speculation caused a
wholly unnatural May movement last
year, for the western receipts in the
past four weeks were 8, 2S0. 66j bushels.
compared with 10, 206, 255 bushels last
year, but 1851. $40 bushels in the same
weeks Of 1897, and reserves in that year
We're not especially reduced. but clos
ed quite large enough.
Corn exports, though only TO- 67, 6s2
bushels. against 90 S5. 097 last wear
were also but $500. 09l in 1897.
FAILURES for the week nave been 142
in the United States. against 245 Last
year, and 16 in Canada against 211 lal
year.