The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-07-21
PROSPECT FOR
GOOD CROPS
Has Lowered Price of Ag-
ricuIturaI Products.
so SAYS BRADSTREET
Bank Clearings Fail to Reflect I'm
provement in Distribution.
THE TEXTILE SITUATION IS MIXED
The Chinese Trouble Have Ch+ cked Exports in
Brown Cotton, and Shut Downs is
THE TEXTILE SITUATION IS MIXED
N lis.
(By the Associated Press


New York, July 2O.-Bradstreet's tomor-
row will say:
Improved crop conditions furnish the
keynote of the trade and price movement.
AS a result of them nearly all staple
agricultural products are lower in price,
and at the same time, perceptible liven-
ling up of demand for fall delivery is noted
at the West, Northwest and South. The
beginning of fall trade is consequently
more clearly visible in the sections men,
toned, while at the East the markets
are slower to experience this improve
ment and are consequently, seasonably
dull. Bank clearings as yet fail to reflect
any perceptible improvement in distribu-
ton and railway earnings, though of large
volume, are, owing to comparisons being
made with exceptionally good results last
year, showing less notable increases both
in gross and net returns. Increased cost
OF repairs, betterments, fuel and wages
are unitedly responsible for this latter
feature, because gross receipts Tor latest
periods reported show continued, though
small gains. Hog products have gone
lower with corn, as has also wheat, in
which continued liquidation has been no.
ted. with the result of inducing a partial
return of the export inquiry banished
from the market by the recent heavy
rise. On the basis of a crop of $50 600, 900
bushels, the outlook is that an export of
132.0OO,O0O to 100000 bushels will be
possible without reducing visible and farm
supplies materially from the totals esti-
mated held on July 1st.
Iron and steel prices are evidently
scraping on bottom if reports from lead
ing centers of cost of raw material and
wages are correct. Bessemer pig at Pitts
burg is on SIT basis, with billets at $21,
against Respectively $40 and $33 a year
ago, SO that much of the boom" prices
have been out. Eastern and Southern iron
markets are lower than week ago, No.
Northern foundry being off 81 per ton
and low grade Southern iron is accumu-
lating. A favorable feature is the in
creasing number of inquiries from Europe
Soft coal is going abroad, too, cargo
leaving for London shortly
The textile situation is a mixed one.
Present prices for raw cotton and finished
material don't harmonize. Chinese trou-
bles have checked export trade in brown
cottons and a summer shut down of mills
producing these goods and print cloths
is looked for. The crop is emerging from
1.-The grass" in good condition. An en-
couraging feature is the rather better in
quiry for raw wool at Boston, but manu.
facturers will not apparently do much un-
til the lightweight season opens. Advices
from the London sales are that the mar
ket has regained most of the loss shown
earlier in the session.
Business failures for the week number
2O2, against 221 last week, ia in this
week a year ago, 1873 in 1898, 220 in 1897
and $50 in 1896 in the United States
Canadian failures for the week number
&c, against % last week and 10 last year.
COMPARATIVE COTTON STATEMENT.
New York, July 2O-For the week end
ing Friday, July 20: Net receipts at ali
United States ports during week, 40,016
net receipts at all United States ports
during same week last year, $3.50; total
receipts to this date, 6,447, OCT; total re-
ceipts to same date last yNa', 1926, O95;
export for the week, 54,456; exports for
the same week last year, 1882; total ex
ports to this date, $3.50, 1883; total exports
to same date last year, 1850, SIG; stock at
all United States ports, IA, 779; stock at
all United States ports same time last
year, 406,217; stock at all interior towns,
55,439; stock at all interior towns same
time last year, 233,72i; stock at Liver
pool. $4,000; stock at Liverpool same
time last year, 1,134 900; stock of Ameri-
can aloat for Great Britain, 5000; stock
of American af1oat for Great Britain same
time last year, $4,000.