The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-28
PRICES ARE STILL 81 R0NG
OCEAN FGtlGHrS SITUATION IMPROVING
Cotton Egaesleaal6 lower the Result Of the
Deadlock eetw, en- Foreign Consumers
aRa Amegleaa Producers. Tin and
Copper Decrease IN Price,

I New Nwk, Oct, - RrattStwets to-
paegFVm Will say
4 \ QeGe26Ng down of dsStrihwive trade,
Asoce particularly at retail. is reported
E EA geleSraNhc&t atlviceS 10 RradStrcetS this
| week, growing ont OF the tnlStSlsona'lly
warm we0ther nov being experienced in
most sections of the country. Reflection
of this is f01ntd in less urgent orders re-
cCIved by iohhcrS and in somewhat inl-
panied collections ut many points. AS
regards prices however there is no APP
psreciahle loss of strength, the great ma
Jolity of quotations remaining steady,
and among those making changes adj
vsrnces are still most numerous. That
the general business of the country re-
mains at an unprecedented volume is
testified to by the heavy gains noted i'm
bank clearances over a year ago and by
the immense increases in railroad earn-
ings over exceptionally good returns last
October As regards the current activ-
ity in transportation, it may be said
that eastbourd traffic from Chicago in
the past month has been more than dou
bic that reported in the same period
year ago, and nearly twice as large as
that reported in October of 1892, a re-
cord period of good trade. The ocean
1reights situation is gradually improv-
ing. partly because high rates are at
tracing all available disengaged tonnage
and partly because the check to foreign
buying, particularly of cereals. caused
by the advance in steamship rates, has
exercised a reflex action ON the latter
market.
simultaneously with the drop in
freight rates this week has come a hard
ening of quotations for cereals, partly
the result of this improved foreign buy
ing meeting the late decline and partly
also because foreign and domestic de
mand for corn has not as yet brought
out the floor of offerings earlier looked
for. Wheat has been sympathetically
strong, as have other cereals, and wheat
-four has been advanced this week
Coffee is firm but not much higher on
the week, some speculative reaction
having been noted.
Among leading products decreasing
in price, tin and copper among the met
ais have been most notable the latter
claimed to be due to production approach
ing more to a parity with demand
Cotton is fractionally lower as the re-
suit of the deadlock between foreign
consumers and American producers. The
situation of cotton goods, one of aggres-
siye strength, is subsequently support
ing feature of no small account.
The strength of wool is natural in
view of the very large sales much of
which are claimed to have been for ac
count of manufacturers. In wooden
goods, demand is favorable and further
price advances are predicted. Lumber,
H. 4.
due to enlarged supplies, is again very
firm, as are also hides and leather, in
sympathy with recent advances in boots
and shoes.
The situation of iron and steel is per-
haps the most notable one yet presented.
The feature Of the market is the reported
booking by the steel rail mills of the
country of nearly IS per cent. of their
capacity for next years delivery. In
all 100000 tons of rails are reported
TO have been booked for delivery next
year, and there is in addition considera-
BILE unfinished business of 1899 account
which it is claimed will still further en-
large the volume of business handled |
next year.
Heavy buying of pig IRON undoubtedly
to cover some of these rail sales, is re-
ported in the Central West at prices |
little below those ruling for some time
past. In allied Zines of business demand |
is still very heavy, demand for steel for
ears, Of plates for shipbuilding and for |
wire being additional signs of strength. |
Demand for hardware is active at nearly /
all markets. The scarcity of supplies
noted last week is still a feature, and |
jobbers are still pushed for prompt ship |
ments. Barbed wire, nails and hand inn !
PIGMENTS tend higher at some Eastern |
markets. Complaint that present high |
prices are injuring our export trade is |
also heard.
Wheat, including -four, shipments for
the week aggregate 4,416,495 bushels |
against 4.16061S bushels last week; |
5,5GO991 bushels in the corresponding |
week of 1893; SSH 1871 bushels in 1897; |
3,62S,000 bushels in 1896, and 2,743,0l4 /
bushels in 1896. Since July LIST this sea-
son the exports Of wheat aggregate 60 |
542, 100 bushels against 67071. $50 bush
els last year, and 1928, 694 bushels in
1928.
Corn exports for the week aggregate
4.525.519 bushels against 5,05S,697 bush |
els last week: 2424,376 bushels in this
week year ago; 1,5S9,1 1913 bushels in
1897; 2.649,425 bushels in 1896 and
1,97O,561 bushels in 1895. Since July
1st this season corn exports aggregate
74.3SS.375 bushels, against 1887 ,S0T |
bushels during the same period Il year
ago and 4S,609.554 bushels in 1S979S.
Business failures for the week number
211 as compared with 221 last week; |
90 in this week a year ago; 21S IN
1897: 246 in 1896 and 300 in 1895.
Business failures for the week in the /
Dominion of Canada number p as COM
pared with 20 last week % in this
week year ago; 20 in 1898; 81 in 1896 |
and 4S in 1895.
Hester's Cotton Report.
New Orleans, La, Oct. 27.-Secretary |