The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-11-17
BREATH OF WINTER HELPS BUSINESS
A Brisk Demand For Clothing and Footwear
Trade in Cereals Drags.
(By the Associated Press.)

(By the Associated Press.)
New York, Nov. -Bradstreets to-
morrow will say:
1.-The tonic effect of seasonably cold
weather is testified to by reports from
practically all the markets of a brisk
demand for winter clothing and footwear.
This in turn is reflected in increased re-
orders from Western Northwestern and
Southern jobbers and perceptble i'm
provement in tone of wholesale trade at
the East, which hopes to participate later
in the results flowing from the existing
good consumptive demand. The renewed
advance in cotton, another result of cold
weather, has proved a stimulus to South
ern trade and also made cotton goods
agents and manufacturers rather indf-
ferent to new business offered at old
rates. What looked like an Improvement
in wool demand and prices seems to have
received temporary setback from the
failure of large commission house with
WOODEN mill connections Railway re-
turns continue favorable, the demand for
iron and steel is expanding and prices
are hardening; labor is exceptionally we'll
employed; anthracite coal mining oper-
ations have been practically resumed and
ruling prices for that product seem as
sured. New records of export trade are
presented and the excess of outward
trade is assuming phenomenal proportions
The market for cereals is a drawing
one, with price changes few and of lit
tie Importance, but stock speculation,
though quieter than of late is strong and
confident in tone. Reflection of the late
enormous business in this line is found
in unprecedented bank clearings totals
eclipsing even the large totals of the
year 1899.
1.-The strength of prices is still most
manifest in iron and steel, demand for
which continues large. both for crude and
finished materials. The action of the
billet pool in advancing prices is claimed
TO have checked the demand. Pig iron
also been affected by efforts to advance
Bessemer pig, but though not as active as
last week Is very strong and higher at
the West, while firmer and tending up
ward at the South.
Among the textiles cotton is noted for
Ac. advance, due to the frost having ter
minated further growth. Estimates of
the crop average about 10,250,000 bales,
but the advance has been arrested to-
ward the close by rumors that Ellison
will issue reduced estimate of con-
sumption. Argentine wheat crop damage
has figured largely among the support
ting influences of the wheat market, but
liquidation by tired bulls has been re-
straining influence. Late reports indi-
cate damage mentioned as slight Cash
corn, as heretofore. has continued quite
strong in small stocks and good demand.
Failures for the week in the United
States number 227 as against 161 last
week; 1893 in this week year ago; 329 in
1898; 235 in 1897 and 908 in 1885,
WEEKLY BANK CLEARINGS.
New York, Nov. 16.-The total bank
clearings at the principal cities of the
United States for the week ending No
yember 18th were $2,319, 751, 429; an in
crease of 141 per cent as compared with
the corresponding week of last year.
Outside of New York city the total
ciearings were s7ii,776,15f, an increase
of g per cent