The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-07-04
Il ~RkDsTREET,S REPORT

A Review of the Business of the Coun-
try for the Hals Year just CiOsed-Its
Favorable comparison WITH other
Similar PerfOds-rhe Outlook Also
Encouraging
New York, June 30.-Bradstreet's to-
morrow will say: Though seasonably
quieter in many lines, the strength Of
the general business situation remains
apparently undated, and the half year
closes with the commercial and man
cial community contemplating very sat-
~isfactory returns in the recent past,
and manifeSting a tone of cheerful con-
fidence regarding the outlook for the
last half of 1899. In the valume of
business done the first half Of 1899 will
certainly rank higher than the best
hitherto experienced and the notable
rise in prices which was such a feature
of the past spring has done much to
reconcile traders to the admittedly
small margins of profits which modern
business operations tend toward max
ing permanent. Touching this matter,
it might be added that staple prices to-
day are in a majority Of instances well
above the quotations ruling for some
years past, the general level, in fact,
being h highest since early in 1893. In
some instances, of course. notably in
iron nv steel, recen advances have
brought the level of prices we'll above
anything reported since 1892, though it
is to be remarked that much of the
business done in that industry this
spring was at old levels, the most
sanguine observers in this line having
failed to accurately gauge the real pro-
portions of the late advances.
That the transportation interests
have shared to a large degree in the
business resulting from several years
of large crops n active demand is
proved by the current good returns.
the best probably reported so far this
year, and indicating a progressive gain
| over all previous records for the six
months, Notwithstanding the steadily
lowering rates of transportation.
There is little in the immediate out
look that can be construed unfavor-
ably. The iron trade, having finished
the most %eventful half year in it's his
tory, and most of it's contracts secured
at the Die low prices, faces a very good
outlook for the balance of the year at
prices which guarantee large profits,
/ providing adequate supplies of raw and
! partly manufactured materials can be
secured. It is not unreasonable to look
for some check, in fact, to business in
the metal consuming industries, owing
to the scarcity of these materials. One
. of the latest instances of this cited is
the serious delay reported to s~hipbuild-
ing industry, owing to the scarcity OF
| steel plates.
| The labor situation has been one of
| the most satisfactory features of the
| half years business, voluntary ad-
! vances having raised the compensation
of thousands Of operatives, and labor
troubles being conspicuous by their alb
! n till toward the close Of the period
nuder review, when failures to agree
| upon wages and hours in the Colorado
| smelling industry and in tinplate man.
! ufacturing rendered a large numbe of
| wOrkmen idle. In the case Of the lat
ter industry, however, the suspension,
it rs hoped, Will not exceed the usual
| summer shutdown.
In agricultural lines the outlook.
though somewhat irregular, is in the
main favorable. The smaller yield of
| winter wheat seems at the present mo-
ment likely to be partly made up for
by an increased yield OF corn, and
spring h prospects, though impair
ed somewhat by too much rain, are
argued as encouraging. Good weather
throughout the country has allowed a
rather better out-turn in winter wheat
than was looked for earlier, and general
rains throughout the south have help
ed the cotton crop situation, while rice
and sugar have also m~easurably inn
proved.
: The closing week of the halt year
finds special strength and activity in
! irOn, lumber, wool and wooden goods
the latter industry having at last ap-
parently begun to share in the prevail
ing prosperity. A feature of interest in
this connection is the advancing prices
Of fine woods abroad, which seems tc
insure, temporarily at least, a foreign
market for considerable high grade do.
nestle wool. Manufactured fabric:
share in this strength, but mAnufac.
large stocks of raw material. Conf.
by reports coming from many markets
Of good orders already booked, the vol.
ume of such business already done
varying from 10 to Is per cent in ex.
cess of last year which, 1t may be re.
called, was quite a satisfactory one il
this respect.
Wheat, including flour, shipments fol
the week aggregate 1888, 99S bushels
against 3,746, 71S bushels last week
4, 716. 401 bushels in the corresponding
week OF 1898. 2,77S,S 48 bushels in 1897
2,601 ,O96 bushels il 1896 and 2,O07, 90
bushels in 1895. Since January LIST
this season, the exports of wheat aggre
gated 225.O o $40 bushels, against 233,
7SS, 1O4 bushels las year.
Corn exports for the week aggregat.
4,4S2.116 bushels, against 2,s72, 432 bush.
els last week, 2,601. $50 bushels in thi.
week a veal ago 1922, 93S bushels ir
1897, 1.593,631 bushels in 1896
and 3SS, $50 bushels in 1895. Since
! January 1st, this season, corn export:
aggregate 10. 7s0, PA bushels, against
1873 sO1 bushels during the same pc.