The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-16
BUSINESS VOLUME GREAT
GRAINS IMMENSE MOVEMENT
KEEPS UP PRICES.
COTTON DECLINES ONE SIXTEENTH
Ext ,aordinary Efforts to Increase the Iron Out
put in August failed Through the
Shutting Down Of Some Of the
Furnaces for Repairs.
Furnaces for Repairs,

New York, Sept 15.--R. G. Dun and
Company's Weekly Review of Trade,
will say tomorrow:
Better than all other news, the record
of August commerce shows the relation
of United States business to that of 9th
er countries. Exports were S20,0S2,S7
larger than ever before in August, and
exceeded imports by S3S,929,6 500 partly
because exports of staples were $685.
97S larger than last year, but also be-
cause exports of other products, mainly
manufacturing, were $10,349,000 larger
than last year and larger than in any
other month of any year. Fears that
great advance in prices might shut off
exports of manufactured products have
not been unnatural, and it is most graft
flying to find that such exports still
continue and expand. The excess of
exports over imports gives fair promise
Of as large a balance in foreign trade
to the benefit of this country during
the winter as has ever been seen. That
manufactured exports do not fall Off
but are larger than ever is both sur
prising and gratifying.
The volume of business now in pro-
gress has never been rivalled.
The great movement of grain, in
wheat and flour little larger than
last year in August, and in two weeks
of September, 5.920,273 bushels. flour
included, from Atlantic ports, against D.
423.016 bushels last year and from Pa
cifc ports 735,559 bushels, against 1884,,
la bushels last year, is far more eff
fectiye in preventing a decline in prices
than any official or unofficial estimate
of yield. Government reports Indicate
Il wheat crop of only 516,O00,0O0 bush
els, but last year the September re-
port indicated 5S5000,000 bushels,
and afterward the official return made
it 675,000,000 bushels, and none would
be surprised to see a like revision this
year. The price in spite of good eX-
ports has fallen one quarter of a. cent,
for Eastern receipts have been 13,669,4o5
bushels in two weeks, against 14,663,S93
bushels last year, and corn exports o.
0S3212 bushels, against 4,30l,33l. The
feeling is not unreasonable that foreign
needs are just now well indicated by
the corn movement. At this season cot
tom shipments are always small and
hopes or fears rule the market, but
prices have declined during the week a
sixteenth, with a little less buying ON
foreign account. Extraordinary eff
forts to increase the iron output failed
in August partly because stoppage OF
few large furnaces for repairs more than
balanced the addition OF 13 small fur
naces to the producing force, and partly
because hot weather prevented full pro-
duction. The reported output, 267,33o
tons, against 267, 6f2 tons on August
LIST with decrease of 22,347 tons in un-
sold stocks indicates a consumption
of | pos. $40 tons during tine month.
Purchases of 10000 tons of Bessenler
and 10000 tons other iron are reported
with advance of BeSsemer TO S23.25 at
Pittsburg, but quotations are wild be-
cause of premiums paid for early deliv-
cry. Plates ait the East and common
bars at Pittsburg are 81 per ton higher
and wire nails have again been adj
vanced 3 per ton. Orders for plates
include several for export and one for
vessel in the Delaware river with one
for Venezuela at Pittsburg, but many
for all firms are refused because the
works are unable to fill them on time
and some orders of much Importance
have been withdrawn at the West on
account of the delay unavoidable and
the high prices charged.
The heavy sales of wool, 12,056,0
pounds for the week and d, 2S2, 100 for
two weeks, against 36,629, 400 in 1897,
are largely due to heavy manufactur-
ing purchases at Boston, but there as
elsewhere, the buying is mostly based
ON expectation that London sales begin
ming next Tuesday will show an impor-
tant advance.
Prices here are stiff and the demand
for wooden goods of all sorts is strong.
Failures for the week have been I4O
in the United States, against ia last
year, and 81 in Canada, against % last
year.