The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-22
LANGUOR IN IRON TRADE
Premature Opening Causes a Rush Of
Cotton to Market.
PRICES OF COTTON GOODS HAVE RISEN
Most Manufacturers Refuse to Take Orders Ex-
cepl AT Value" Based Upon Cost Of
Raw Materials. Wheat Rises
on Reports of Damage.
on Reports of Damage.
(By the Associated Press.)


New York, Sept 21.-Bradstreets to-
morrow will say:
THE unfavorable turn given the gen
eral Industrial situation by the strike OF
anthracite coal miners, and the possibil-
ity of wages disputes in the iron trade
with rather less activity in the latter in
dustry and some increase of weakness
in the prices of cruder forms, have given
an appearance of irregularity to the gen.
cral trade and business situation. On the
other hand, the course of staple prices
has been very generally upward this
week; fall distribution of dry goods,
clothing, hats and millinery has been OF
large volume at nearly all markets;
there is a much better tone noted in
the boot and shoe and kindred trades,
and the strength of cotton goods, though
apparently in excess of that shown by
the raw material, has been regarded as
indicative of confidence on the part Of
the manufacturers.
Premature opening, due to hot dry
weather, is responsible for a portion of
the heavy movement of cotton to market,
but back of this of course, is the desire
to profit by the good prices prevailing.
The rush of receipts has been too much
for the bull movement, however, and the
price is materially lower on the week.
Raw cotton and cotton goods have
parted company as to prices this week.
The rush of buyers to secure stocks has
advanced print cloths, ginghams, bleached
goods, prints and in fact nearly all classes
of cottons, while materially reducing
stocks in hands of commission men and
jobbers. Most manufacturers are refus-
ing to take orders ahead except "at
value" based upon the cost of raw ma
terial. Southern yarn spinners are re-
ported curtailing operations and the
English spinners are in an especially bad
situation owing to small supplies and
high prices of the raw material.
Reports of damage to grain in shoci
in the Northwest, REINFORCED by North
western buying at Chicago, furnished the
key to the advance of nearly two cents
in wheat this week, followed by a gain
of 20 to 25 cents in flour and of IA cents
in corn. Some of this advance in wheat
was afterward lost in realizing. Other
farm products were higher, pork and
lard advancing on better export business,
and butter and cheese on improved
weather.
Business failures for the week in the
United States number 1873, against 1877
last week ard lat in this week a year
ago.
Canadian failures number 81, against
81 last week."
COMPARATIVE COTTON STATEMENT.
New York, Sept. 21.-For the week
ending Friday, September 21st, 1900: Net
receipts at all United States ports during
week, $50, $685. net receipts at all United
States ports during same week last year,
201 GAS; total receipts to this date, 1885,
IT, total receipts to same date last
year, 4S2,206 exports for the week, 49,
GOA; exports for same week last year,
167, 1856; total exports to this date, 14l, $50;
total exports to same date last year, 2S2,-
542; stock at all United States ports, 2l6,-
497; stock at all United States ports same
time last year, 549. 454; stock at all in
terror towns, 124, 435; stock at all interior
towns same time last year, 319,1S9; stock
at Liverpool 1872 GOO; stock at Liverpool
same time last year, 10000; stock of
American afoat for Great Britain, $4,000;
stock Of American afoat for Great Brit
ain same time last year, $4,000.
TOTAL NET RECEIPTS.
New York Sept. 21.-The following are
the total net receipts of cotton at all
ports since September 1st 1900:
Galveston, 1921 bales; New Orleans,
GO, GAO: Mobile, 1926; Savannah, 1884, :
Charleston, 1871; Wilmington, 43,62S;
Norfolk, 25075; Baltimore, 294; New
York, 1000; Boston, 248; Philadelphia,
903.
Total, 2S5.177 bales.
TOTAL BANK CLEARINGS.
New York, Sept. 2t.-The total bank
clearings at the principal cities of the
United States as reported to Bradstreet
for the week ending September 10th, were
81, 1863 ,64S, 67S; a decrease of 27.7 per cent.
Exclusive of New York city, $605,092,-
721; a decrease of 6.2 per cent.
HEsTEP's COTTON STATEMENT.
New Orleans, La, Sept 21.-Secretary
Hceter's weekly statement issued to-
day shows the amount of cotton brought
into sight for the week ending this af-
ternoon to be 2S6,111 bales, against 277,-
O75 bales for the seven days ending this
date last year and 243, 400 bales year be-
fore last.
This brings the total of the crop moved
into sight for the 81 days Of the new
season to 464, 463 bales. against Csc, 1870
bales last year and 461,677 bales year
before last.
The statement Shows receipts at all
United States ports since September 21st
of 2S5177 bales, against 44S, 500 bales last
year. Overland across the Mississippi,
Ohio and Potomac Rivers to Northern
mills and Canada 9,621 bales, against H.
SS5 bales: interior stocks in excess of
September LIST sS,7S4 bales, against SS,524
bales; Southern mill takings S0,S5S bales,
against 90,912 bales. Foreign exports
since September LIST have been 1856
bales, against 257 ,966 bales last year. The
total takings of American mills. North
and South and Canada thus far for the
season has been 1881 bales, against
10 O2 bales last year.
Since the close of the commercial year
stocks at American ports and the twenty
nine leading Southern interior centers
have been increased 222,147 bales, against