The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1900-06-12
TREND OF PRICES
STILL DOWNWARD
Leading Farm Products Alone
Hold Their Own.
CROP REPORTS ARE POOR
Wheat Breaks From It's Lethargy and
Attracts Attention.
CROP REPORTS ARE POOR
CONCESSIONS MADE IN STEEL AND IRON
Cotton Slightly Weaker on Reports of Heavily
Increased Acreage. Leather Dull and
Weak. Surplus Supplies Of
Wheat Increase Rapidly.
(By Associated PresS.)

New York, June S.-Bradstreets tomor-
row will say:
New business at Wholesale is of a be-
tween seasons character. but warmer
weather has offered stimulus to retail
business in some sections Chief activity
and most attention, is, however, still
concentrated on the prices situation.
and efforts 10 readjust quotations to meet
current demand and supply conditions
go forward steadily The only exception
to the general downward trend of prices
is that furnished in leading farm pro-
ducts, notably cereals, but here the NOV
ing cause is hardly a favorable one, be-
ing the result of less satisfactory crop
reports, particularly from the Northwest,
and it is to be noted that advices from
the Central West where the winter wheat
yield promises to be very short, are also
less favorable.
The Northwest has had some rains,
but, it is claimed not enough to rem
der the situation free of danger. Corn
crop conditions remain favorable, as like
wise Go those of oats, but these grains
and hog products have sympathized in
the upward movement Of wheat, which
Las q, last broken from its lethargy
nd Is again attracting speculative at
ltll1pH. EOIcte3h crop tttFlteS, II lulfoil
be added, are not fattering The Ger
man rye crop promises to be very short,
the same report comes regarding French
wheat, and English crop advices are not
CT the best.
IF, IS has been claimed lowered prices
for iron favor increased consumption,
current developments in this trade may
be classed as favorable, because conces-
sions are being steadily made in nearly
every branch of trade. The price of
Bessemer pig and steel billets for the
last half Of 1900 has been agreed upon,
the result being drop Of 16 per cent
| in pig iron and of 20 per cent in billets
from the old nominal quota tions, which,
however, have not been closely adhered
to of late. Southern iron adviceS are
of shading in quotation, in sympathy
with similar action taken at Pittsburg,
| Chicago and other iron markets. Prices
at Birmingham are now on parity with
those of Europe, freight charges consider
ed and here as in the North, the possi
bility of labor troubles intrudes itself.
Cotton is slightly weaker on reports
| is late and advices this week are of an
excess OF rain in the Mississippi Val
| ley and Texas. Cotton goods are dull.
Wool is dull and on the whole slightly
weaker at Eastern markets. Mems wear
| goods recorders are Of fair volume, while
mills engaged women's wear goods
| are fairly well employed. The outlook
| favors lower prices for the new spring
weights.
Little that is new comes from the
| shoe business.
Leather is dull and rather weaker.
Price shading is reported in lumber,
and this coupled with low water in the
| Northwest. will, it is hoped, restrict new
production.
| Surplus visible wheat supplies are
decreasing rapidly, lending interest to
current unfavorable crop reports. The de-
| crease in American stocks. as reported
to Bradstreets in May was 1880, 600
bushels against falling off 9,o33,oOo bush
| els in April Supplies in Europe, Aus
tralia and Argentina also decreased,
| though to much less marked extent,
and the result is aggregate worlds
supply on June 1st of 143 .5S3 900 bushels.
| a supply 15,611 600 bushels less than on
! May 1st, and, compared with a decrease
| in May a year ago of less than 1000, 900
| bushels and two years ago of an increase
| of nearly 1000 00W bushels. The decrease
| in American and European supplies is
| the largest reported in any month since
1888 and is the largest reported in May
| since 1895.
| Business failures for the week number
1S4, as compared with 1875 last week, Us
| in this week a year ago. POI in 1S9S 236
| in 1897 and ga in 1896
s"There were ?6 failures in Canada in
| May. involving $931 ,2S0 of liabilities, an
increase of 13 per cent in number and
| of - per cent in liabilities over the same
| month wear ago.