The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-06-06
BiRADsTREET.S REPORr
Lees Activity In Wholesale business.
Retail Trade ~umulased-lron Trade
Sull Boomipg-Gratn Exports Inn
nPoyfnU.

Retail Trade <ttmu1ated-1ron Trade
Sull Booming-Grain ExPorss TIM
proving.
New York, June 2.-Bradstreets to-
morrow will say: Holiday o~bservances
and warmer weather have worked to-
ward a smaller aggregate of specula-
tive transactions and less pronounced
activity in some lines Of wholesale trade
this week. while naturally stimulating
retail business at most centres, a point
which is full of interest TO wholesalers
in view Of possible reasserting demand
and new business for fall accounts. d.
Current bank clearings reflect the for
mer influences in considerably reduced
totals for the week, while cheerful ad-
| vices as to trade in May as a whole are
confirmed by very large bank returns
for that month, second only in fact to
the monthly totals OF January and
| March, the latter holding the record
in this respect. The favorable effect
of the immense ~urrent Industrial &C.
tivity and consumptive demand Offset
ting the smaller tonnage of cereals now
as compared with a year g is found
in the continued good increases in gross
railroad earnings. Net returns are, it
is true, not quite so relatively favorable
but it is to be recalled that COMPARE
sons now are with specially good re-
ports a year ago.
In industrial lines the demand for
and strength of iron and steel are the
most interesting features. Heavy sales
Of the cruder forms are reported this
week for fail delivery, and prices are
higher all around, from so cents to 81
per ton on pig iron, nearly all classes
of steel, rails and finished products gen.
orally. Further progress in the con-
~solidation movement is reported in this
industry, a number of tube mills having
pooled their interests. Fears that re-
cent heavy price advances will disas-
trously affect our export trade in man
ufactured iron and steel still lack con-
firmation, a feature, in fact being the
placing of a good sized order for pig
iron at full rates for export to Ger
many. Reports that prices have check
ed domestic industry seems to be rather
the question of delivery than of en-
HANGED value.
Rather more speculative interest
has been observable in cereals, partic-
ularly wheat, this week. A sharp adj
vance occurred early on reiterated re-
ports of insect damage to the winte
wheat crop and less favorable advices
from Russia and other countries, but
a reaction occurred later on, thus
pointing to the speculative position
L h or,r- a~o-0raNi1y hna~ 1vynv hn,,Dh
Heavier shipments from northwestern
points are taken to indicate confidence
in a full yield Of spring wheat.
Cotton has been rather dull, though
firm, the strength of manufactured
goods acting as a balance to rather bet
ter crop advices, though it is to be not
ed that too much rain is complained Of
in some sections and too little moisture
is reported in others.
Advices from many cities of great &C
tivity in building find confirmation in
the continued heavy demand for lumer,
building hardware and other materials.
Prices of the former staple are firmly
held, and the only indicated changes
are in ar upward direction.
Advices from the shoe trade are fav-
orable and leather and hides are firm.
Business failures are down to a low
summer minimum, numbering only 129,
! against 158 last week, 178 in this week
a year ago, 1872 in 1897, 236 in 1898 and
1895.
At eastern markets lumber is very
generally active at wholesale, but scar
city of material, and in some cases the
higher prices demanded are reported
to have checked operations at Phila-
delphia.
At Boston cotton goods are quiet but
strong. The same Is true at New York,
where confidence and satisfaction are
features noted in many lines of BUSH
ness.
Business in lumber at Pittsburg
passes all records, and all the iron and
steel mills are on double time.
Features at the west are the strength
Of iron at Chicago. where 100, 600 tons
Of pig have been sold in two weeks,
Southern trade advices are fairly
good. Atlanta reports an increased
business in May owe a year ago, except
! in fertilizers, in which sales for the sea-
son are 20 per cent. smaller than last
year, and climates Of the Georgia cot
ton acreage point to a reduction OF al
least Is per cent.
Little Rock reports rains hurting
crops, and that on-resident insurance
companies are again writing business
in Arkansas. Rain is reported needed
at New Orleans, which also reports a
rather poor stand for cotton, and that
the Louisiana sugar crop this year will
be LIE, 900 tons. At Birmingham ir IN
is very strong and stocks Of pig iron
have been drawn down to the lowest
point on record.
Cereal exports begin Il show an i'm.
provement. Wheat, including -four.
shipments for the week aggregate
1896. 065 bushels against 1888, 319
bushels last week, 5,24S, 086 bushels in
the corresponding week Of 1898. $780,
083 bushels in 1897, 3,209, S65 bushels
in 1896 and 2,901, 1853 bushels in 1886.
Since July LIST, this season the exports
Of wheat aggregate 212. 065, 438 bushels,