The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-14
A LOWER SWING IN
CEREALS PRICES
A Backward Spring Retards
Distributive Trade.
STEEL PRODUCTS WEAKEN
Large Yields of Wheat, Cotton and
Corn Are Now Indicated.
VALUE OF COTTON EXPORTS FOR MARCH
Three Times Greater Than Year Ago and For
Seven Months Seven Per Cent Greater
Though % Per Cent Less
in Quantity.
STEEL PRODUCTS WEAKEN
Large Yields of Wheat, Cotton and
Corn Are Now Indicated.
VALUE OF COTTON EXPORTS FOR MARCH
(Bv the Associated Press. J


New York, April 13.-Bradstreets to-
morrow will say:
Backward spring weather conditions
have figured considerably in distributive
trade reports this week, and, in connec-
ton with some weakness in prices OF lead
ing staples, have impaired an appearance
of irregularity to the general situation.
Another one of those downward swings
in the prices of agricultural staples is
exhibited this week in slightly lowered
prices for the cereals, partly because of
the bearish position of immediate sup
plies and partly because of the better
than expected government crop report
which is taken to indicate a possible win
ter wheat yield in excess of all records.
The crop outlook as a whole favors the
expectation of large yields of wheat, corn
and cotton Corn and oats have SYM
pathized with the reaction in pork pro-
ducts. which reaction however, has not
been universal as shown by the fact that
lard is at the highest point reached on
the present boom. Cotton exports in
March were three times those of year
ago in value and for seven months are
seven per cent greater in value, while
% per cent smaller in quantity.
Evidences accumulate that active mis-
sionary work in favor of lower prices for
iron and steel is at last bearing fruit. Pig
iron is not lower and stocks as a whole
are claimed to be no larger than
month ago but steel products have weak
ened noticeably during the week, billets
noting the 'sharpest decline with CORE
spending decrease in some other pro-
nfb
change on the week, copper being in con-
tinued good demand and prices firm; tin
is specuatively weaker and lead is strong
at previous prices. The hardware trade
returns good reports as a whole. rela-
lively best advices coming from Western
distributive centres.
"A slight upward swing in cotton is to
be noted this week and Southern mills
have officially advanced prices On the
other hand, while the mills are active on
old orders, new business is reported OF
smaller volume. Some more inquiry is
noted in raw wool, without, however, af-
fecting values appreciably. The strength
OF raw sugar is a reflection chiefly of the
fact that considerable shortage is
looked for in the supplies of can sugar,
not only in Cuba, but in the far East.
lows of no profit at present quotations.
Anthracite coal is rather weak at the
decline shown from the winter list price,
but bituminous is strong and active, par
ticularly on foreign account.
Wheat, including flour, shipments for
the week aggregate 2,S96,65 bushels,
against 1885, 1853 bushels last week, 1885,
619 bushels in the corresponding week OF
bushels in 1897 and 2,017,579 bushels in
1896 Since July LIST this season the eX-
ports of wheat aggregate 153, 906, 296 bush
els against 100, 1929, 159 bushels last year
and S,271 $50 bushels in 1S97-'9S. Corn
exports for the week aggregate 2,799, 443
bushels, against 1851 ,591 bushels last
week, 2,666,125 bushels in this week
year ago. 1861 1874 bushels in 1898: 2,32S,-
1875 bushels in 1897, and 1,074542 bushels
in 1896. Since July 1st this season corn
exports aggregate 1922, $40 bushels,
against 1885,, 1904 bushels during the
same period year ago and 143, 769. S43
bushels in 1S97-'9S.
Business failures for the week num-
Der 1872 as compared with 1872 in the Uni
ted States last week 243 in this week a
year ago and 215 in 1898; 1875 in 1897 and
pa in 1896.
Failures in the Dominion of Canada
for the week number 50 as compared with
25 last week and in this week a year
ago 81 in 1898, 80 in 1897 and "a in 1896.
WEEKLY BANK CLEARINGS.
New York April 13-The total bank
clearings at the principal cities of the
United States for the week ending April
18th, were $1,875, 425, sos; decrease 11.6
per cent.
Outside of New York city, c59,127,6 91;
increase Z per cent.