The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-04-18

Continued Increase In all Legitimate
Business-AIl Fermer Clearing House
Observation-Disclosures and steel Trade
Booming-CotIOn Good. Industry Sat
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~ u SatS
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New York, April AR. G. Dun &
Cos weekly review of trade will say to-
morrow:
There is still increase in all legiti-
mate business, and the productive pow
er OF great industries increases, even
though some of their stocks decline.
The sharp reaction in speculation a
week ago in no way affected the pro-
ducing capacity of furnaces or mills,
and has been in part recovered, while
the disturbance of business caused by
the formation of great combinations
has in large measure ceased. The
money market is in safer and more
wholesome condition, and in spite or
four heavy payments by large syndi-
Gates, amounting to o $4,000 600,
has grown easier. The only stringency
has been in call loans.
/, 1t is not owing to speculation alone
that payments through the chief clear
ing houses have been so per cent. larg-
er than in the same week of 1892, and
1893 per e larger than last year.
New York transactions far exceed
these of any previous week, S1,46S, 5O2,-
709 in amount, but outside Of New York
the clearings were 41.5 per cent larger
than in 1898 and 44.6 per cent. Larger
than in 1892.
! The truth is that no such expansion
in the general business of the country
has ever been seen before, and if such
records only were considered there
would be ground for fear that a wild
/ passion of trading had again lifted the
whole business community off its feet;
but, instead, there is found surprising
, increase in the chief industries. Nam
ing first some of which only returns of
raw materials imported give definite
indications, raw silk imports increased
81 per cent. for eight months of the
fiscal year over last; hides 40 per cent.
India rubber 26, tin 81, and fibres 19
per cent.
The output of pig iron April LIST, was
245,74 tons weekly, against 22S,195
March 1st, with 1918 tons decrease
in stocks unsold and $1,000 in warrant
stocks, indicating a consumption in
manufact re Of 1,056, 043 tons in March.
The haste of forty other furnaces to
get into operation, with their possible
output of 10000 tons more weekly, has
helped to keep prices Of Fig quite steady
although strong, but the demand for
finished products is far from satisfied.
Plates have sold at $2.10 for sheared
! at Pittsburg, but the leading mills
there and mills elsewhere are crowded
: for months, and many will not quote
at all. Large contracts were closed in
| structural works, one for 5000 tons,
! just before the advance in prices, but
Chicago orders this weel cover 5000
tons of building work and everywhere
there is much business in sight. Bar
and sheet mills are Kindred by pros
i poets of consolidation, but, though few
orders for bars n taken just now at
the west, the Philadelphia market is
more steady.
The Connellsville Coke product, 1877
! 1913 tons for the week, surpasses all re-
cords, and prices are steady as before
| quoted.
In spite of some strikes because
wages were not raised as much as had
been expected, the cotton industry has
a very goo1 demand and most of the
! mills are working satisfactorily. A
southern combination of fine goods
makers is proposed, like that of Fall
River mills, which has kept prices quite
! steady of late.
Wooden mills have begun to buy wool
more largely, though at prices much of
their own making, but there is improv-
ing demand for goods with light weight
purchases continuing surprisingly for
the season.
Wheat advanced about &c, accounts
of injur. discovered since April LIST
supplementing the government report.
Were the worst of the stories true,
there is yet spring wheat seeding to
| make up for differences, though the
season is getting rather late. Exports
have been reduced, Atlantic, -four in
cluJed,s amounting to 3,960,3S0 bushels
for two weeks, against 5,2S5,19S last
year, and Pacific to 6 1882, bushels,
against 1908, 942 last year., with other
exports 806, SIT bushels.
/ Corn is a shade stronger, and in two
weeks exports have been 6,184,693 BUSH
els against 8,146,6S1 last year.
Failures for the week have been 1873
in the United States, against 254 last
year.