The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-05-26
TRADE IS QUIET
THAN A WEEK AGO
Unsettled Conditions in Cot
ton Weaken Quotations.
CROP REPORTS ARE GOOD
Wheat is an Exception. Cotton Stats
tically Is Very Strong.
THE GROCERY BUSINESS LOOKING UP
Sharp Advance in Refined Sugar Stimulates De-
mand in Other Lines. Wool and Lum-
Der Weaker. In Iron and Steel
the Deadlock Continues.
(By the Associated Frass.l

New York, May 25.-Bradstreet's to-
morrow will say:
Trade is, il ANYTHING, qfieter, end
prices are lower than a week ago. while
efforts toward a reimbursement of rro1uc-
tive capacity to present conditions are
noted ia several lines of industry, rCta-
bly, iron and steel and lumber. Unset
tied conditions in the cotton trade and
large failure. due rciniy to overstay-
ing the bull side of this staple, has ten
ded to weaken quotations in several lines
of speculative busine -. rather better
crop reports and the backward demand
for cotton goods are of course partly re-
sponsible for the sharp break, but
statistically the staple remains very
strong. Crop reports are, IS whole,
good, except for wheat. As regards the
latter, it may be said that in the North
west some much needed rains have fal-
len, but the claim is made that more
moisture is needed. Winter wheat Eros
poets in the Southwest remain good but
foreign inquiry has been on reduced
scale. Practically the entire crop of
corn has been planted under favorable
conditions and reports from the oats crop
are likewise good, but slight shading OF
quotations. due to backward export bust
ness is to be reported for these cereals.
Hog products are also lower and the
same is true of cheese, petroleum, hides
and leather, cooper and a number of iron
and steel products.
Perhaps the most favorable report for
the week as to distrbutive trade comes
from the grocery business, in which the
is claimed, to the enhanced price of the
raw material and not to any settlement
of the trade war, has stimulated demand
in other lines. notably coffee. which is
also higher on the week. Advices from
the dry goods trade are of backward
demand at retail, affecting orders in many
lines, but cotton goods production is
still heavily sold ahead and a marked
decline in raw material will have to oc-
cur before much effect is exercised upon
finished products.
Wool is weaker and manufacturers
firm, but with jobbers asking for lower
prices.
Lumber is on the whole, weaker
partly owing to the unsettled condition
in the building trade and partly to the
feeling that prices have been pushed toe
high and this feeling is likewise true OF
a number of other lines.
'In iron and steel the deadlock still
continues, buyers and sellers being apart
while the drift of values where business
is actually accomplished is toward low
er range. Nominally, Bessemer pig and
steel billets are unchanged and this is
correct as far as large producers are
concerned, but outside offers are at con-
siderable reduction 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
adviceS would seem to indicate that for
eign markets may follow those of Ameri-
ca 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 weak
ness in cast iron pipe is inducing some
curtailment of production, notably at the
South.
Wheat, including flour shipments fol-
the week aggregate 3,69S,96S bushels
against 5,17S,422 bushels last week;
3,19S, 139 bushels in the corresponding
week or 1879, 4,oUJ, LOO DuSnolS III 1910
2,0S1, 1926 bushels in 1897, and 1854 ,95s
bushels in 1896 Since July 1st, this sea-
son. the exports Of wheat aggregate 49,
3S3,456 bushels, against POS, 469, 800 bushels
last year and 210 500 bushels in
1898.
Corn exports for the week aggregate
4,374 ,145 bushels, against 3,437 1914 bushels
last week; 3,S45,S1 bushels in this week
a year ago; 6,164,451 bushels in 1898;
2,1S5,933 bushels in 1897, and 1720, 500
bushels in 1896. Since July 1st, this sea-
son, corn exports aggregate 1856, SOB 1854
bushels, against Isl, S7S,039 bushels dur
ing the same period year ago, and 175,
127, 595 bushels in 1898.
Business failures for the week num-
Der 167 in the United States. as COM
pared with 155 last week; 15S in this week
a year ago; 231 in 1898; PSI in 1897, and
227 in 1896.
'In the Dominion of Canada business
failures for the week number II as COM
pared with "a last week % in this week
a year ago; IS in 1898; 20 in 1897 and
25 in 1885,