The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-03-24
THE DEMAND FOR BONDS
Applications For the New Q Per Cents
Exceed 100000.
ADVANCE IN WHEAT NOT SUSTAINED
London Wool Sales Show Up Shade Stronger
Carnegie-Frick Settlement May Prove
Revolutionary in Its Influence
on Steel Interests.
on Steel interests.

New York, March 23.-R. G. Dun and
Company's Weekly Review of Trade will
say tomorrow:
I'm it's first week of operation the new
monetary bill has given satisfaction to
the Treasury and to banks Applications
for new two per cents have exceeded
S106 900 coo and the net increase in bank
circulation is already over $4,000, O0O AS
the rate at which new circulation can
be issued is limited, except for banks
which gave orders in advance OF the
passage of the bill and the issues at frst
are largely for the increase of notes to
the par value of bonds deposited, little
can yet be inferred regarding the other
increase, though applications indicate
that it will be large for interior banks.
The release of millions employed in
preparation for action under the new
measure has caused in bank returns con-
siderable changes which are nominal
rather than real and the money markets
are undisturbed.
"The reported settlement of the Car
negie- Frck controversy is of the great
est Importance to the iron and steel in
dustry. The combination of interests
may prove revolutionary in it's influence.
affected is not clear. AS yet the ten
dency toward reaction of prices con-
tinues.
''Cotton holds at 9Bc for spot with
heavy export demand, though, futures are
weaker European stocks in sight, with
mill stocks reported by Ellison, cover
consumption at the rate he reports for
a large part, but not for the whole of the
crop year remaining, and the visible
supply in this country is being sold at
terms which make the 100000 bales ex-
ported this month worth more than &c.
600 bales would have been worth a year
ago when only pa 900 bales went abroad
in the same time. Receipts have exceeded
last years for the week, though not for
the month. The goods market here is
only strong in demands for immediate
need, few caring to base future dealings
on present prices, while some make con-
cessions for distant deliveries.
''The London wool sales have shown
a shade more strength than those of last
month and considerable American pur-
chases of some grades indicate true posi-
tion of the prices asked here. Yet the
markets here are called stronger in
tone, although of the sales reported much
the greater part were at concessions. and
manufacturers are doing very little. Sales
at the three chief markets were only
4,S00 900 hounds of which 3,771 800 pounds
were domestic. The state of the goods
market does not encourage manufactur-
ers to pay the prices now asked and the
business is still disappontingly restrict
ed
THE advance in wheat. which followed
statements of the quantity in farmers
hands, has not been maintained and the
decline the past week has been 1$sc, corn
also yielding about 1ac. Atlantic exports
were 1, 753,02S bushels for the week and
for three weeks only 4,762,4S2 bushels
against S,730,374 bushels last year Re.
ceipts at Western points in three weeks
have been II ,977 231 bushels, against 10.
1S0,957 bushels last year. Meanwhile
Pacific exports are heavy and in three
weeks have been 1888, 529 bushels, against
1,656,277 bushels last year The foreign
demand for corn still lessons, although
2,942,717 bushels went abroad during the