The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-30
VOLUME OF TRADE
STILL PAND|NC
----
Years Business Far Better
Than That of '92.
THRO' CLEARING HOUSES
THE PAYMENTS WE'RE 46 PER
CENT GREATER.
VAST INCREASE IN IRON CONSUMPTION
Wool Market Active With an Average Advance
of One Quarter. Cotton has Risen
from Six Twenty-Five to
Six Eighty-Seyen.

New York, Sept OR. G.. Dun &
Co.'S Weekly Review of Trade will say
tomorrow:
September is the twelfth consecutive
month in which the volume of business,
both at New York and outside of New
York had been greater than in any previ-
Gus year. In those II months payments
through the clearing houses have been
IS, GOO, 100000, against 61.200,00O,000 in
twelve months ending with September,
1892, an increase of %, 400, 100000, over
As per cent. When the tremendous eX-
pansion began, men called it replenish-
ment of long depleted stocks; then for a
time it was called crazy outburst of
speculation; and when demand still eX-
banded some permanent increase of bust
ness was recognized as a result of in
creased population earning better wages.
But the demand still grows, now rang
ing about 60 per cent. greater than in
1892, while population, according to the
Treasury estimates is 16 per cent. great
er, and wages are now over 10 per cent.
greater A reconstruction of business
and industries, of producing and trans
porting forces is in progress throughout
the land with results which none can
now measure.
Iron consumption instead of 100000
tons per month in 1892, is now over l.
100000 tons per month, and yet is so
far behind the demand for products that
the capacity of most works is sold far
on into next year. With sales of 10000
tons at Pittsburg, Bessemer pig rose to
$3.50. Chicago coke and Southern pig
again rose 81, and new furnaces are sold
many months ahead before they begin
work. Bars are hard to get at any price,
the whole output of the Republic Com
pany being sold to January, and $50 is
quoted for common at Pittsburg, while
at Chicago the great demand for car
building falls on works oyercrowdcd.
Contracts for 5000 tons of plate have
been placed at Pittsburg, and at all
points the price is rising with astonish-
ing demand. Sheets are also higher with
the demand intensified by renewed eff
forts for consolidation.
'.Shipments of boots and shoes from
Boston in nine months have been 81
500,676 cases, against 1888, 6S2 in 1892,
and in four weeks 390,622 cases, against
360,699 last year; 376,711 in 1897 and
less in any other year. Here the in
crease is more nearly proportional to
population and wages, but works are all
month or more behind their orders
for the season Spring orders are fair,
but restricted still by unwillingness of
makers to contract largely at prices now
obtainable which average about cents
advance where makers deem z l2 cents
necessary.
"The wool market is active with a
oh hsnlf n
cent on washed fleece combing and some
unwashed; the entire list quoted by
Coates Brothers, probably averages
about one quarter cent higher. Heavy
woolens are well cleaned I'D. aud Of
spring worsteds many lines are with
drawn, the clays being nominally adj
vanced to 81. 40 with some fancy worst
eds 5 per cent. higher. Stronger de-
mand for cotton staples causes an adj
vance of nc in brown sheetings and
drills and one half cent in some bleach
ed goods. A broader selling arrangement
at Fall River seems likely to prevent the
proposed consolidation.
Cotton opened the crop year at 6.2o
and has risen to 6.S7, although about a
quarter more has come into sight than
last year from the greatest crop on rec
ord, and stocks here and abroad, COM
mercial and mill, are 65S,OO0 bales
greater than year ago. But belief III
serious loss by drought gains ground,
and also belief in largely increased man
ufacture.
Wheat exports from the Atlantic and
Pacific ports have been 1924 1856 bush
els for the week, flour included, against
1851 ,002 bushels last year, and in four
weeks 1851 1853 bushels, against To-
| O61, 1854 bushels last year. The foreign
demand has aided to sustain prices,
which closed Bc higher than last week,
l,although Western receipts have been
20 129,51S bushels in the past four
weeks, against 31,S30,573 bushels last
| year.
Corn is unchanged in price and still
| in large foreign demand, exports having
been in four weeks II, 10000 bushels,
against S,133,641 bushels last year, with
| Western receipts of "a, 433,S74 bushels
| ....;..o+ 4 90 900 buchalS lacf wear"