The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-21
|RRECULAR|7Y IN
TRADE AND PRICES
Bear Campaign in Iron and
Steel Continues.
1T TAKES ON A NEW PHASE
Shutting Down Mills Because of Al
legged 0versupply.
IT TAKES ON A NEW PHASE
STRENGTH OF EXPORT DEMAND AfAcTOR
From Twenty to Thirty Thousand Tons OF
Southern Iron Believed to Have Been
Sold For Export This Week at
About Full Prices.

New York, April o0-Bradstreet's to-
morrow will say:
more rather than less irregularity in
the trade and price situation is to be
noted this week, partly the result OF
weather conditions, but partly, as in the
case of the Iron and Steel trade, because
of the continuance of those missionary
efforts in the direction of lower prices
which have been such feature OF the
iron and steel trade of late. That the
basic conditions Of trade remain on the
whole favorable is, however, evidenced by
number of features. Railroad earnings
continue heavy, and the decrease noted
in bank clearings is chargeabe largely to
religious and other holiday observances
and to restricted stock speculation.
Heavy rains and cool weather early in
the week had depressing effect on trade
and collections, but with the advent OF
warm spring temperature improved con-
dtions of retail demand which is at pres
ent a most important element in the gen.
eral trade situation, have been noted.
1.-THE bear campaign in iron and steel
took On a new phase this week, when
number of wire mills were shut down, as
alleged, because of an over supply Oh
these goods. The announcement has had
an unsettling effect upon general demand,
as was probably expected, and new do
nestle business is interfered with. The
strength of the export demand previously
noted in these columns, however, is still
a feature, and we have the best OF rea-
sons for believing that a very large guam
tity of Southern Iron variously estimated
at 10000 to 10000 tons, was sold this
week to go abroad at nearly or about full
prices Price changes are mostly along
lines heretofore noted though some SYM
pathetic weakening of pig iron is report
ed. Wire prices apparently are un-
changed Steel billets are weak at the
decline reported last week, and bar steel
and plates are likewise lower The other
metals have shown reactionary tone
this week. and anthracite coal remains
seasonably weak, but talk of impending
labor troubles has hardened bituminous
coal at most markets.
ut has been market for the
cereals and most agricultural products,
those advanced early this week, but
waning toward the close. The strength
of pork products and the small movement
has stimulated corn and there is less
weakness in this than the other cereals.
Stormy weather and flooded water courses
at the South have checked or retarded
cotton planting, but this feature and the
statistical strength of the market have
not been sufficient to produce any outside
bull movement, while tahe 6..6.. 6..6..6
bull movement, while the quietness in dry
goods and the weakness noted in cotton
yarns have been additionally discourag-
ing features. Wool is weak, but there
is rather more inquiry, and now, as the
year ago, relatively highest prices rule
at points of production. Backward
weather conditions have affected the lum-
Der trade demand, but in this as in
number of other lines the advanced prices