The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-27
is RISING AND THERE is AN IN
CREASED DEMAND FOR
GOODS.
THE JUMP IN IRON AND HEAVY WOOL SALES
Wheat Receipts from the West Only Half Of
Last Years, but the Foreign Demand
is Less. A Great Falling
off in Failures.

Company's Weekly Review of Trade
will say tomorrow:
There is some fear that has ~ Other
source than the habit of fear. Men
have found for so many years disaster
treading on the heels OF apprehension
that they lack faith in good things pres
ent and to come. Every year there is
worry about short crops. aud vet tbo
crops grow larger. The Spectcr of
monetary trouble haunts men who know
that the country is strong beyond am
need. Promoting methods alarm men
who are really quite aware that it is
only needful to put promoted stocks in
Il class by themselves.
But all the time the volume of bust
ness is rising, and the weeks payments
through the chief clearing houses are
GIL per cent larger than last year.
and IS per cent larger than in 1872.
For the month thus far the daily average
is 80 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, ana
increased purchasing power, and the
demand FOR products is consequently en-
panding in all branches of consumption.
The rise in Bessemer pig iron to S17.6o
at Pittsburg, 50 in two weeks: in Grey
forge to $15.25. in anthracite nunDe..
one here to S16.75. and in local and
Southern iron at Chicago, results direct
ly from the fact that the supplies are
for the time less than the demand
Many more furnaces are in haste to be-
gin 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 The largest and best
works are catching up with their or
ders, though much behind and obliged
to refuse many. while others are enter
ing the field. 1t is proof of an as5onish-
ing demand that after nearly FIVE months
this congestion continues, and the rise
in prices, including advances of 50
per ton in plates and bars, ase not
forced or unnatural.
Minor metals have followed London
SO long that tin sticks at 1856 cents.
though stocks are large and the de-
mand is remarkably poor, and lead at
445 cents though the demand is slow,
while copper weakens to 1872 cents for
Lake. British statistics indicating
fall of nearly quarter in consumption
for four months this year compared with
last.
The heavy sales of wool, 3O,954,OO
pounds, at the three chief markets in
three weeks, against 20.7S0.30O for the
same weeks in 1897 when the disastrous
speculation Of that year had begun to
turn and 1922, $50 in 1892, are mostly
to spectators, as manufacturers are
doing scarcely anything. Weeks ago
they held that prices We're too high,
even after some decline, for the prices
at which goods could be sold. R,lt
Western and Eastern spectators have
settled it that the manufactures will he
forced to buy at such prices as they
may fix, and are taking large quantities.
The cotton mills have fair demand
after considerable advance in prices
of goods. and are producing largely.
The material has been steady at 6Hc,
with no ground to expect much change
and the best reports indicate lecreise
i'm acreage of four per cent.
Wheat advanced &c. but lost nearly
all the gain on Friday. Western re-
ceipts have fallen to about half last
NedT =. anu cAIolls III louA "NNN' i'"AA
Atlantic and Pacific ports have been
1O,590 1GS bushels, flour included,
against 1861. $3.50 last year. while from
Northern Lake ports 7,926,O31 bush
els have gone out this year. But men
forget that the foreign demand. #
not as large as it was last year with
famine impending. 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 speculd.
ton caused wholly unnatural May
movement last year. for the Western
receipts in the past four weeks. y
2SO.665 bushels. compared with 1926
go last year. but 9.961,5 in the same
weeks of 1897. and reserves in that year
were not especially reduced. but closed
quite large enough. Corn exports,
though only 1O,267 1862 bushels, against
20,2S5.097 last year were also but y,
36O,091 in 1897.
Failures for the week have been liz
in the United States. against 245 last
year. and 16 in Canada, against q last
year.
'Sunof a!p lou PIP nos