The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-10
STILL AHEAD OF
PREVIOUS YEARS
Though New Business in In
dustries is Not Large.
COTTON UP TO $50 NOW
AND HOLDERS MAY YET HAVE
THEIR OWN WAY.
A NARROWER DEMAND FOR DRY GOODS
Following the Rise of Cotton, the Advance in
These Goods May Ultimately Lessen Con-
sumption to Some Extent. Little
Change in Wool.

New York Feb Or. G.. Dun & Co.'S
Weekly Review of Trade will say to-
morrow:
THE industries are Still surprising in
actual output the work of any previous
year. Their new business is not CORE
spOndingly large, nor could such orders
be accepted by most industries if offer
ed. but enough are coming to prevent the
stoppage of works or much decline in
prices. In wooden goods new business of
remarkable volume sustains marked
advance in prices, and in other lines of
importance as in machinery. orders indi-
cate a surprising foreign demand. Mean
while. though encouraged by the abund
ance and ease of money, speculation does
not in any direction as yet go without
a check far enough to do mischief There
is much Of the speculative spirit abroad.
but also more caution than is usually
shown after a year of exceptional pros
perity Perhaps the war in Africa, with
its possibilities of daily surprise is in
that respect productive of good.
Cotton followed its rise from S to
SIC last week by further rise to sos
cents with growing belief that the crop
ton large enough to give holders quite
their own way The decrease of receipts
in January was 253.000 bales or 20 per
cent, but in December the decrease was
more than 80 per cent The exports in
January were smaller than last year by
10000 bales. over 80 per cent. and Eli
sons report of $4,000 bales in European
mill statistics January LIST. with visible
CT alyG of A
bales February 1st show that good
part of the years needs is already pro-
vided for. But il is reasoned that if
visible and invisible stocks should be re-
duced below 100000 bales at the end
of the year as they were in 1891 prices
would range between and S14 cents. as
in that year they did from February 1st
to September 1st. with Il great crop COM
ing. The manufacturers here have al
ready been somewhat embarrassed by
the comparatively narrow demand since
prices of goods were materially advanced,
but the rise this week has started furth-
or advance in some grades. and may ulti-
mately lessen consumption to some eX-
tent.
No change of consequence vet appears
in prices of wool. though the demand
from spinners is limited and it is per-
ceived that they had previously supplied
themselves quite fully for the heavy
weight season for which they have taken
very large orders. 1t is thought by some
that enforced sales of foreign wool,
which was withdrawn from the London
sale in January in order to prevent Il
greater decline. may hereafter affect this
market.
THE weekly output of pig iron Feb
ruary LIST was 29S,014 tons, but stocks
unsold reached 20.309 tons in January,
indicating a consumption slightly smaller
than the output when the month began.
AS the consuming works We're naturally
stopped about the holidays more than
the furnaces the figures prove little, but
Bessemer and Gray forge at Pittsburs
have not changed in price during the past
week and slightly lower offers of pig
by Southern and other new furnaces at
Chicago and Eastern markets have had
little effect
1T is more significant that the decline
Of prices for some weeks in bars, plates