The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-06-23
AGR|CUL TURAL
PRODUCTS RISE
Wheat Has Advanced ID Cents
Since June |.
CORN MOVING UPWARD
Crop Damage Has Lifted Both Cereals
and Cotton.
SUMMER DIZZINESS IN MANUFACTURES
Weakness in Prices Still The Leading Feature
in Iron. A Heavy Business Doing in
Refined Sugar. Demandfor
Lumber Weak.
(By the Associated Press.o


New York. June 22-Bradstreet's to-
morrow will say:
Midsummer dullness in distributive
trade and industry and further reductions
of prices of manufactured goods, particu-
larly iron and steel. and raw textiles,
but marked upward movement in near
ly all agricultural prod lcrs, are The lead
ing features Of the business; situation
this week. Wheat has alvalced IA .e, is
per bushel since June 1st aad 20 cents
from the low point reached in Noyem-
Der, gain over the Latter period Of 81
per cent. in price. Corn crop advi"cs are
still in a high degree encouraging, but
that cereal has sympathZed with wheat,
as have also oats, and hog products have
in turn felt the quickening in1 fence of
higher prices for corn. Improved demand
for dairy products is reflected in light
advances this week.
Crop damage has been q moving cause
for the advance in the price of cotton,
though the danger of the short side on
the old crop has been evid ent for some
time past in the critical condition of the
visible supply of cotton. Some weakness
has been noted in cotton goods without
however, favorably affecting distribution.
Retail trade in dry goods has been help
ed by warmer weather. Wool is lower
and the wooden goods market is rather
quiet, awaiting the next london wocl
sale and the opening of the spring weight
season.
Weakness of prices is still the leading
feature of the iron traia, and lower
quotations are noted for pig iron.
Structural material has also verified
predictions in decline of from 81 to Sd
per ton Domestic orders for iron are per-
haps slightly more numerous, but are
for small quantities. Talk of q systemat-
ic shut down of iron furnaces producing
for the open market comes chiefly from
the South. While this subject is under
consideration the disease is finding a par
tial cure in the going out of blast of a
number of less economical furnaces and
the summer shut down of many mills.
Export demand is good, but, as COR some
time past, waits upon the question of
freight room. The other metals are
steady, practically unchanged in price
with the exception of tin which is slight
ly lower.
"a heavy business is doing in refine
sugar and the manufacturers are over
sold. A good margin of profit exists in
this trade
Building demand for lumber is not ac-
tive, but white pine is relatively iirmest.
Southern pine is in over supply in a
number of markets.
Anthracite coal is in seasonablo dis
trbution, while the demand for bitumin-
Gus continues quite active.
Wheat, including flour, shipments
for the week aggregate 4 545, $50 bushels,
against 4,678 ,029 bushels last week. 3,745
rs bushels in the corresponding week OF
1899; 3.799,47 bushels in 1898; 2,156, GAG
bushels in 1897, apd 1887, 631 bushels in
1896. Since July 1st this season the eX-
ports of wheat aggregate 196,f7O,162 bush
els, against 221 .769. $40 bushels last year
and 229,072 2SS bushels in 1923.
Failures in the United States fer TIC
week number 167 compared with 80 last
week; 1919 in this week a year ago; go in
1898; 215 in 1897, and 21S in 1896.
Failures in Canada for the week num-
Der %, against 20 last week; % in this
week a year ago; 10 in 1898 and 1886
and II in 1897