The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-05-08

New York, May 4.-R. @. Dun &
Cos. Weekly Review Of Trade toInor-
row will say:
FaiIure returns forApril are especial
ly valuable because they show theie
does not exist, in the most important
branch of business, the conditions
which threaten disaster. They call
attention to one line in which some
curtaiIment had seemed from previ-
Gus returns to be in progress, and has
been fastened by extensive strikes in
the building trades.
The state of business has been repre-
scented to fit and used to support several
undre theories already. The sim
pie fact is that some reaction from the
abnormal excitement and expansion
and rise of prices last year was nee
essary to continued prosperity. Its
duration may, therefore, be expected
to depend upon the promptness with
which production and prices adjust
themselves to. actual demands.
Much progress in that adjustment
has been made during the past week
with increased activity already result
ing. Strikes s%pringing from disputes
about the terms of work and wages
for the coming year have also distinct
progress toward settlement.
The reduction in prices OF iron and
steel and their products a gone far
enough to bring out much new bust
ness. AT the end Of last week cut
nails were reduced 40 cents per keg
and in plates and bars somewhat lower
prices have been reported. Prices for
sheets have not been named, but in
pipes and tubes there is some yielding,
with larger business in fence and other
wire since the reduction. Not a sale
of Bessemer pig is reported, the asso-
citation still asking $3.50, while eastern
pig is offered at Pittsburg below S23,
and local forge is lower at $50, with
eastern at s19.75.
Chicago local coke has declined 51c.
and southern also. Eastern markets
are irregular. with growing belief that
ar output 900 ling consumption will
reduce ~r.-es- until the demand again
expands. There are large foreign con-
tracts for pig pending. and important
sales of finished products for export
have been made. Tt helps toward bet
ter adjustment that coke is quoted
81 per ton lower than a month ago and
anthracite coal has also declined.
The close of the wool year has come
without the scarcity which some ex-
pected. but with the average of quo
tations by Coates Brothers reduced in
April about one cent. Sales have been
small and yet much in excess of
purchases for consumption. The mar
| nv ~ oootSr VASCpNAh6 4lF Id
vored staples has been so far unsettled
and irregular as to give small encor-
segment for buying wool at current
prices.
Cotton goods have also shown SINH
lar in transactions for flu
ture delivery and new business is mar
row. Until prospects for the~new crop
are more settled, the pressure of Eng
lish %spinners for supplies tends strong
IL to hold up prices here, though for
eign mill stocks are now heavy.
April export of bradstufs have been
large. both wheat and corr surprising
last years record. Atlantic exports
Of wheat in five weeks, four Included
have reached 11,0S0, 800 bushels, against
10,744,798 last year. Pacific exports
were 3.513,250. against 2,O9O,73 last
year and corn exports 15,5T3, 337, against
2,09o,131 last year.
In suite Of conflicting stories. he
movement Of wheat from the farms
continues larger than a year ago.
The price closed as It opened, while
corn declined 2 cents.
All exports from New York in four
weeks have been 1874 per cent. or over
$1,000 900 larger han last year.. and
with the gain of $15,000.000 in cotton
from other ports the months aggregate
OF merchandise should rise above S1c6,-
100000. Imports show a small gain,
but will hardly exceed SIC. 000. 900.
Failures for the week hav been 209
in h United States. against 1s8 last
year.