The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-01-24

Clearing House Hisine~. Enormous
Exports Of Cereals Stili Larxe-De-
mand Stili Good for Manufactured
Products

Producss
New York. January 2o.-R. c.. Dun
& Co.'S Weekly Review OF Trade will
say tomorrow: A new year rarely opens
brilliantly. Too many traders have to
wait for the demand which in winter
comes slowly. The industries resist
fairly we'll the tendency TO unlimited
expansion which some have TO meet.
Speculation in produce is gaining but
little, While in stocks an enormous vol
ume OF business results in continually
higher prices. The volume OF payments
through clearing houses is
nary-2.7 per cent. larger than last
year. 96.9 per cent. larger than in 1891
and SIS per cent. larger than in 49,,
even the transactions outside OF New
York showing a gain over 1852 OF t4.6
per cent. Speculation at New York.
therefore, cannot be the main cause OF
the gain. Difficulties between holders
OF material and manufacturers con-
tinue TO hinder In some industries and
in some are embarrassing but the &C
tivity is, on the whole, unsurpassed
hitherto, and the volume OF traffic Ia
beyond all expectations. In some
branches consumption is running be-
yond the producing capacity. but in
others IL is hindered by the future
II anu prices Oh IHdASAIAAs.
The wooden manufacturer is stu
waiting with only a moderate demand
for goods as yet. The production Is
large, and considerably larger than in
recent years, but does not nearly APP
proach the capacity OF the mills.
The cotton manufacturer has a large
demand for goods, but raw cotton has
So rapidly advanced that possible buy
ers apprehend a fail, and there is hes
itation in the purchases OF staples.
With receipts OF cotton far ahead OF
last years from the greatest crop then
ever raised, there is now apprehen-
sion that good qualities may fail short
before the year closes. Much cotton
remains in the fields yet unpicked, on
account Of bad weather and is dete-
r~iorating in quality.
h silk manufactured knowing
man threats OF its Interference and
disputes about duties, seems TO be max
ing steady progress.
The iron and steel manufacture
leads all others in volume OF new bust
ness. While production is much the
largest ever known, many OF the works
are withdrawing all quotations or nam
ing prohibitory prices in order to check
orders which they annot fill for
months to come, and do not want Ia
accept at current prices. The num-
Der OF such works is rapidly i~ncreas-
ing as the heavy demand for materials
cover many months capacity. Besse-
mer pig is a shade higher at 5000.
with sales of 25, 1000 tons at Pittsburg
and there is something like a famine
in Grey Forge, with sales at 1915, al
though one sale at $3.50 in the valley
is reported. While finished products
are in very great demand. especially
for car building and special works at
the west, the week shows no advance
in prices excepting so cents per ton IN
steel rails at the east.
These conditions favor continuance
Of the extraordinary foreign trade.
which resulted in the greatest balance
IN favor of this country ever known.
January this yea indicates a SINH
ar excess of exports over imports, and
while wheat exports have increased
every month since last August, they
have been in three weeks 15,07S,0 77
bushels, flour included, from both
coasts, against IL. 1899, 952 bushels last
year.
Corn exports have been quite UP 20
asst years unprecedented record,
amounting to $500, 500 bushels. against
',210,1S9 for the three weeks OF Janu-
iry last year, although prices have de-
'lined about Y cent. Contest tive
SPECTATORS in wheat at the west ana
the east has held prices fairly steady
WITH an a of only an eighth for
The week.
Failures for the week have been oiq
n the United Staes, against 374 last
yar.