The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-04-22
QUIET STRENGTH
IN TRADE CIRCLES
Damage to winter Wheat
Cuts no Figure.
GRAIN AND COTTON FALL
IMPORTS REFLECT INCREASED
BUYING POWER.
Following The 0u,bust of ACTIVITY in Wool Last
Week, Business has Rather'falen off,
but Values Remain Steady.
Leather Strong

New York, April 1.-Bradstreet's to-
morrow will say:
The general business situation is one
of quiet strength while in industrial
lines activity continues undated. The
well nigh universal testimony of damage
to the winter wheat crop has had sur
prisingly little effect on prices as yet,
owing partly to improved weather condi-
tons strengthening the hopes of a larg-
er area in spring wheat, and also to good
crop reports abroad and increased visi-
bic supplies as compared with year
ago encouraging foreign buyers in their
neglect of American offerings.
An enlarged demand for this country s
manufactured products in some degree
counterbalances the falling off in the
value of agricultural exports, notably
cereals and cotton, shown as compared
with a year ago. For the month of
March drop of S1S,000,000 in exports
of breadstuffs, cotton, provisions, live
cattle and mineral oils has been partly
met by gain of nearly S10,00O,000 in
other products, leaving the net deficien-
cy as compared with a year ago seven
per cent.
Imports reflect the increased purchas-
ing power of the country, the total for
March, in fact, being the largest since
May, 1897. For the nine months period
exports, as whole, are a little less than
double the imports.
In iron and steel new business is of
even smaller proportions, a notable eX-
ception, however, being in the line of
wire goods and nails, on which prices
have been very generally advanced.
Quotations of pig iron, steel billets and
nearly all of the cruder forms are firmly
held, while for many finished products,
such as plates and bars, even higher quo
tations are asked. Mills and furnaces
are reported crowded with business on
earlier orders, and the disposition of
buyers to delay placing their business
Tor the latter part of the year is re-
ported as viewed with equanimity.
The cotton goods situation is still a
strong one, though current demand from
agents is light. Heavy orders booked
for gray goods some time ago make for
strength in this line, but converters COM
plain that finished goods have not adj
vanced proportionately. Retail distribu-
ton of staple products has been inn
proved by more favorable weather, thus
encouraging hopes of future good re-0r-
ders from wholesale hands. Following
the outburst of activity in wool last week
business has rather fallen off, but values
remain steady. Continued buying of high
grades of foreign wool for re-export is
reported and there is some talk of high
grade American woods being bought for
shipment to England. Following an adj
vance early in the week. due to good
foreign advices and smaller than ex-
pected crop movement cotton is quieter.
but holds part of the advance. The
strength of raw sugars is notable fea-
ture. Abroad, quotations of beet sugar
have been advanced, while the Cuban
yield is not expected to be large, and
Bradstreet advices point to rot more
than half an average crop being grown
in Louisiana. Raw sugar is higher on
the week, but refined lags behind, though
consumption is enormous.
The demand for lumber at wholesale
continues good, and the Southern indus
try seems to be sharing to the full in the
general prosperity. Retailers, however
report buyers slow to pay the advanced
quotations.
Leather and hides are strong, and
boots and shoes hold recent advances
Wheat, including flour, shipments fol-
the week aggregate 2,932,959 bushels
against 1,9S3,619 bushels last week
1892, Jos bushels in the corresponding
week of 1898: 1,654, 66S bushels in 1897
1,2S6, 400 bushels in 1896 and 2,431 1884
bushels in 1895. Since July LIST this sea
son the exports of wheat aggregate 1913,
262.11S bushels against 191, 503, 6St
bushels last year.
Corn exports for the week aggregate
1901 $40 bushels against 2,666,1 25 bush
els last year, 1868, 1872 bushels in this
week a year ago, 4769,315 bushels il
1897; 9S1,206 bushels in 1896 and 49,,
800 bushels in 1895. Since July list this
season corn exports aggregate 13S,047
IA bushels against 147, 121,324 bushels
during the same period a year ago.
Business failures show a notable fall
ing off from those of last week, aggre
eating 1877, against 243 in the preceding
week, 224 in this week year ago, 21'
in 1897; 240 in 1896 and 223 in 1895.
Business failures in the dominion o
Canada number 80 against % last week
10 in this week year ago. % in 1897
81 in 1896 and 30 in 1895.