The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-01-17

The Strength I'm Prices Of staples Con
unues-Heavy Export Of G~rain-Iron
MfIls crowded With Orders-consol
idations I'm Several Industries

H00t4W&&6 III
New York. January 1s.-Bra4street's
tomorrow viii say: Perhaps the most
notable feature Of tha trade situation
81 present is the strength Of prices OF
ais, cotton. iron and steel, which have
apparently gained further ground since
the first OF the year.
Explanation Of the strength OF wheat
is, of course, found in the good cash
demand which seems 10 meet any slight
reaction in value and which has plac-
ID the price at a point as high as at
any previous time for three months
past. This cereal and corn are both
in exceptionally good demand abroad.
judging from the large exports report
ed, and good foreign demand is. like
wise, h secret Of strength in cotton,
shipments Of which continue heavy. A
feature of dealings in his staple is
the ready demand for good grades and
the Indifference manifested oward low
grades, which, owing TO the bad wealth.
er at the south, are in larger tina US
ual supply. Cotton manufacturers, in
deed, have been complaining for some
time of the low spinning quality n
waste OF the present crop.
While large sales of iron and steel are
not SO numerous as in recent weeks,
further advances in prices, notably OF
pig iron, steel billets, plates and rods,
bear testimony to the eagerness of buy
ers 70 secure supplies n the almost
corresponding indifference Of the rad
toward new business, order books Of
most of the mills being reported Well
filed. Pig iron production is the heav-
/ iQ=f 11-a0 known hIIt crnckc ShnU frr-
Their depletion. The successful floating
of a number of large consultations in
this industry of late has naturally stim-
ulated interest and discussion in fur
Their consultations.
The formation of sy~ndicates, howev-
er, is not confined to iron and steel. be-
cause within the week there are reports
Of a projected great tobacco syndicate,
having for its object the securing of
control of the entire Cuban supply this
year.
Among other rumors of consultations
is the story from the Pacific coast OF
a proposed consolidation of salmon can
ners.
Tin plates show the effect Of the con
solidation in this line in an advance
from the low figure reached some
months ago.. The strength of cotton
goods is still a feature of the dry goods
market, but the hoped for advance ii
raw wool has not yet materialized and
the trade in manufactured woolens is
still slow.
The feeling of confidence in the lum
Der trade is undated and an active
demand is looked for in the spring, tn
strength Of hardwoods being a particu-
lar feature in this connection. Prices
for boots and shoes are held steadily
and the outlook is regarded as favor.
able. Leather too, is firm and hides ar.
in sympathy.
In other industries activity is a fea-
ture, a notable instance being the heav,
vessel tonnage now being built both a
the lakes and on the s~eacoast, aggre
eating for mercantile and national pur
poses a total claimed to be far in eXces!
Of any previous period in the country!
history.
Wheat, including flour, shipments
for the week aggregate 5,647,07 bush
els, against $3.50, S63 bushels last week
5,299,517 bushels in the corresponding
week of 1898, 3,94S, $50 bushels in 1897
3, 2G2,124 bushels in 1896 and 1854, 45
bushels in 1895. Since July LIST this sea.
son, the exports of wheat aggregate
134 ,036, 048 bushels, against 137, TAP, so
bushels last year.
Corn exports for the week aggregate
3,297,072 bushels, against 4.S44,2 S8 bush
els last week, 4,64l, 100 bushels in thi:
week a year go, 3,757,2S1 bushels il
1897, 1885, OH bushels in 1896 and 661, 25
bushels in 1885. Since July 1st, this sea,
SON, corn exports aggregate SO, 091, SO:
bushels, against So, 444, 1856 bushels dur.
ing the same period a year ago.
Business failures for the week show
an increase over the preceding week
numbering 1874, against 237 last week
but comparing with 1923 in this week
year ago, ATS in 1897. Alp in 1896 and 81
in 1895.