The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-05-29
B-RADSTREET'S P

New York, May 25.-Bradstreets to-
morrow will say: Trade is if anything,
quieter, and prices are lower than a
week ago while efforts toward a re-
adjustment of productive capacity to
present conditions are noted in several
lines of industry, notably iron n
steel and lumber. Unsettled conditions
in the cotton trade and a failure, due
mainly to overstaying the bull side of
this staple, has tended to weaken quo
tations in several lines of speculative
business. Rather better crop reports
and the backward demand for cotton
goods are of course partly responsible
for h sharp break, but statistically
the staple remains very strong.
Crop reports are, as a whole, good,
except for wheat. AS regards the lat
ter, Dit may be said that in the north
west some much needed rains have
fallen, but the claim is made that
more moisture is needed. Winter wheat
prospects in the southwest remain
good, but foreign inquiry a been on
a reduced scale. Practically the entire
crop of corn has been planted under
favorable conditions and reports from
the oats crop are likewise good, but a
slight shading Sf quotations, due to
backward export business, is to be re-
ported for these cereals. Hog products
are also lower and the same is true of
cheese, petroleum., hides inc leather,
copper and a number of iron and steel
products.
Perhaps the most favorable report
for the week as to d~iStributive trade
comes from the grocery business, in
which the sharp advance in refined
sugar, due, it is claimed, to the en-
HANGED price of the raw material n
not to any settlement of the trade war,
has stimulated demand in other lines,
notably coffee, which is also higher on
the week.
Lumber is, on the whole, weaker,
partly owing to the unsettled condi-
lions in the building trade and partly
to the feeling that prices have been
pushed too high, and this feeling is
likewise true of a numbe of other
lines.
In iron and steel the dead lock still
continues, buyers n sellers being
apart, while the drift of values where
business is actually accomplished is
toward a lower range. NominallY,
Bessemer pig and steel billetS are un-
changed and this is correct as far as
large producers are concerned, but
outside offers are at considerable re-
auctions from quoted values. Notable
weakness exists in the prices for iron
and steel bars, for plates and for some
grades of eastern foundry iron. Almost
the sole supporting feature is the
strength of export business, but late
aQNlceS WOULD seem TO Indicate IndI
foreign markets may follow those of
America toward a lower range. Almost
alone among iron and steel products,
structural material is firm and much
is hoped for in the direction of new
business. The weakness in cast iron
pipe is inducing come curtailment of
production, notably at the south.
Wheat, including -four shipments,
aggregates 3,69S, 969 bushels, against
5,17S.4 22 last week. and 3,19S, 319 in the
corresponding week of 1899. Since July
1st. this season., the exports of wheat
aggregate IT'S, 1888, 456 bushels, against
20S, 469, 800 last year.
Corn exports for the week aggregate
4.374,145 bushels, against 3,437, 1894 last
week. and 3,S45, SIS bushels in this week
a year ago. Since July 1st, this season,
corn exports aggregate 1S5, $50, 1854
bushels, against Isl, S7S, 039 bushels du-
ring the same period a year ago..
Business failures for the week num-
Der 161 in the United States as COM
pared with 155 last week, 15S in this
week a year ago.