The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-07-28
RAILWAY EARNINGS GOOD
Less Weakness in the Prices of Lead
ing Cereal Products.
ALARGER INQUIRY NOW FOR RAW WOOL
Meanwhile the Iron and Steel Industry is More
Depressed Than at Any Time For Three
Years Past. Trade in Dry
Goods Backward.
(By the Associated Press.)


New York, July 27.-Bradstreets tomor-
row will say:
Important changes in trade and spec
ulation are notably lacking this week,
but counter currents of demand in va
rious sections and Industries lend q
rather more than usually Irregular APP
pearance to the general situation. Among
the favorable features calling for notice
are the practical assurance Of an i'm
mense corn crop by the recent copious
rains in the further West the contin-
ued cheerful reports from the sections
which have gathered and are now mar
keting a large winter wheat crop, ad-
vices OF continued Improvement in tone
in the Northwest, with reports of renew
ais OF earlier cancelled orders for fall
goods, fairly satisfactory gains in gross
railway earnings, less weakness in prices
of the countrys leading cereal products,
based apparently on renewed buying for
export and rather more inquiry for raw
wool by manufacturers. Unfavorable ell
ements in trade probably find their chief
and greatest exposition in the iron and
steel business. That industry is, if possi-
BILE, more depressed than at any time for
three years past. and expectations that
price declines would be checked by the
arrival of finished material at a cost
basis have been disappointed because
this week steel bars have been sold in
some instances at one cent per pound,
which is unquestionably below the basis
of cost of raw materials and manufac
ture. That large tonnage of this ma
terial and Of Southern pig iron has been
worked off seems certain, but 1t is still
buyers market, with everything that
this implies.
Export business would undoubtedly
expand IL ship room were available
1.-THE trade in dry goods at the East
particularly seems to be backward, pend
ing an earlier realization of the cotton
goods situation. Bleached goods have
been reduced, but gray goods and brown
cottons are steady Some re-selling of
their raw cotton by Eastern mills for
export is reported. Satisfactory progress
is reported as to the growing American
and Egyptian crops and the margin be-
tween old and new delivery tends to
widen.
Business failures are smaller, num-
bering 1873 in the United States, as COM
pared with 202 last week, ITO in this
week year ago, 189 in 1898, 259 in 1897
and 221 in 1885, Canadian failures num-
Der 10, as against 26 last week, 16 in
this week last year, "a in 1885, 80 in 1897
and "a in 1896"
HESTER'S COTTON STATEMENT.
New Orleans, July 27.-Secretary Hes
ter's statement of the worlds visible
supply of cotton shows the total visible
supply is 1,413,675 bales against 2,1433S6
bales last year. OF this the total of
American cotton is $685. bales against
1859, 1886 bales last year, and of all other
kinds, including Egypt, Brazil, India, etc,
532, 900 bales against $4,000 bales last
year.
OF the worlds visible supply there is
now afioat and held in Great Britain
and Continental Europe S51, 900 bales,
against 1927 900 bales last year, in Egypt
$1,000 bales against $4,000 last year; in
India 900 bales against 100000 bales
last year, and in the United States 206,-
900 bales against 637 600 bales last year.
COMPARATIVE COTTON STATEMENT.
New York, July 27.-For the week end
ing Friday, July 81, 1900:
Net receipts at all United States ports
during week, 27,437; net receipts at all
United States ports during same week
last year, 1908; total receipts to this
date, 6,474504; total receipts to same
date last year, 1903, 1853; exports for the
week, 24,23O; exports for the same week
last year, 1889; total exports to this
date 1854, 619; total exports to same date
last year, 1867, 541; stock at all United
States ports, 142, 944; stock at all United
States ports same time last year, 1885,
412; stock at all interior towns, 1870;
stock at all interior towns same time
last year, 230,310; stock at Liverpool,
5000; stock at Liverpool same time
last year, 10000 stock of American
afoat for Great Britain, 10000; stock of
American afoat for Great Britain same
time last year, 81 900.
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