The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1900-05-08
fBy the Associated Press J


New York May 4.-R G.. Dun and Com
panys Weekly Review of Trade tomor-
row will say:
Failure returns fer April are especial
ly valuable because they show that there
does not exist, in the most important
branches of business, the conditions which
threaten disaster. They call attention
to one line in which some curtailment had
seemed from previous returns to be in
progress and has been fastened by ex-
tensive strikes in the building trades.
THE state of business has been rep
resented to fit and used to support several
hundred theories already. The simple
fact is that some reaction from the abnor-
NAL excitement and expansion and rise
Of prices last year was necessary to con-
tinued prosperity. Its duration may there
fore be expected to depend upon the
promptness with which production and
prices adjust themselves to actual de-
mandS. Much progress in that adjuS tment
has been made during the past week
with Increased activity already resulting.
Strikes springing from disputes about
the terms Of work and wages for the COM
ing year have also made distinct pro-
gress toward settlement.
The reduction in prices of iron and
steel and their products has gone far
enough to bring ont much new business.
At the end Of last week cut nails were
reduced 40 cents per keg and in plates
and bars somewhat lower prices have
been reported. Prices for sheets have
not yet been named. but in pipes and
II q wit lar
business in fence and other wire since the
reduction. Not sale of Bessemer pig is
reported. the association still asking
$24.90 while Eastern pig is offered at
Pittsburg below $23 and local forge is
lower at $40. with Eastern at $19. 70.
Chicago local coke has declined so cents
and Southern also. Eastern markets arc
irregular with growing belief that an out
put exceeding consumption viii reduce
prices until the demand again expands
There are large foreign contracts for pig
pending and important sales of finished
products for export have been made 1t
helps toward better adjustment that coke
is quoted 81 per ten lower than a month
ago and anthracite coal has also de-
clined.
Tho close Of the wool year has come
| without the scarcity which some expected
| but with the average of quotations by
! Coates Brothers reduced in April about
! one cent. Sales have been small and yet
| in excess OF purchases for consumption
| Manufacturers have far refrained as
| to show that they were much better sup
! piled six months or a year ago than
| dealers are willing to believe. The mar
| l<et for goods, excepting the most favored
| staples has been far unsettled and
| irregular as to give small encouragement
| for buying wool at current prices. Inte-
| rior holders are still strong. hoping that
| the end of the season brings the end Of
| manufacturers stocks. Cotton goods have
also shown similar weakness in transac-
| ticns for future delivery and new business
| is narrow. Until prospects for the new
crop arc more settled the pressure of
! English spnners for supplies tends
/ strongly to hold up prices here. though
| foreign mill stocks now heavy.
| April exports Of brcadstuffs have been
! large. both wheat and cCrn surprising last
years record. Atlantic exports OF wheat
! in five weeks flour included have reached
| 11.0so.903 bushels. against 1914 1913 last
year. Pacific exports were 3,513 .27o
against 2n"O.137 last year and corn cx-
pcrts 1351;,;;}37, against 12.o9O.737 last
year.
I'm spite of conflicting stories the
| tinues larger than year ago. The price
| closed as it opened, while corn declined
| cents. All exports from New York in
| four weeks have been ;3.4 per cent or
| over 81 100000 larger than last year and
with the gain of SIS, 600 eco in cotton from
| other ports the months aggregate for
merchandise should rise above a hundred
millions. Imports show a small gain but
will hardly exceed seventy millions.
! ''Failures for the week have been 2Oo
! in the United States.N against 1JS last
| year and y in Canada, against % last
year