The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-04-13
TEXTILES SHOW A GAIN
Speculation in Foodstufs Has Been
Very Heavy.
sTaIkGESCY OF MONEY! LARGELY LOCAL
Outside Of New York II Cuts But Little Figure,
Ttx'ile Fabrics in Better Position,
The Demand for Pig Iron Is
Very Heavy.
Very Heavy
CBy the Associated Press

New York. April 19.-R. G. Dun's
Weekly Review Of Trade tomorrow will
say:
THE tone of general business has been
better this week. Marked activity in the
distribution OF merchandise is reflected
in the gains of 459 per cent in bank
clearings at New York. compared with
1900, and 208 per cent over 1899, with
gains of 1875 and 1913 for the same periods
at leading cities outside New York. Even
the textile markets show pronounced gain.
Activity in the metal division has taken
pig iron production to near record figures,
and some dealers do not see how produc-
ton of partly finished forms this year is
to be made to meet the demand. the
Government report Of the condition OF
wheat on April 1st is the surest posi-
BILE basis upon which expectations of con-
tinued commercial prosperity could be
founded. Stringency of money is largely
local in New York and does not alter
reports from most of the larger cities OF
favorable conditions in collections. Rail-
road earnings in March were IA per cent
larger than last year and 80. 4per cent
over 1899, according to practically COM
plete returns.
Speculation has been unusually heavy
in foodstuffs, the. local market averaging
over 100000 bushels of wheat daily.
Prices receded sharply from the top point
Of two weeks ago, wheat closing about
four cents for spot Realizing sales were
accelerated by expectation of high per-
centage of winter wheat condition in the
official report. Two elements Of strength
appeared to check the decline and caused
tod
numerous in the Southwestern section,
and foreign buying was sufficient to make
Atlantic exports, -four included, 6,732, 900
bushels in two weeks, against 3,912,S57
bushels last year and 1880, $50 bushels in
1899 Corn received better support by
manipulation and lighter inter.br s.e-
ceipts.
s,Textile fabrics are in better position,
although Improvement is slight and con-
fined to a few special lines. Tt East
ern wool markets manufacturers have
taken sufficient new material Of late to
Indicate better orders for goods, and news
from the West suggests that ranch OWL
ers are going to hold for better prices
than now prevail. In the cotton goods
division there has been more buying for
China while spring dry goods openings
make encouraging exhibits. The raw ma
terial lost most of last weeks gain, spec
ulators making no resistance to the weak
ening influence of larger receipts and
tighter exports than a year ago. Besides
the intentional curtailment of spinning
there has been further reduction of OPP
erations by spring floods. In silk goods
more activity is reported and another
trihing advance occurred in material.
Failures for the week numbered 203
in the United States, against 1913 last
year and "a in Canada, against Il last
year"
HEsTER's COTTON sTATEMEN-.
New Orleans, La, April 12.-Secretary
Testers statement o fthe worlds Wis
ible supply of cotton shows the total
visible is 1857 ,537 bales against 3,163,62S
bales last year. OF this the total Amer
lean cotton is 2,845,S07 bales against
2.500.6 bales last year ard of all other
kinds, including Egypt, Brazil, India,
etc. i, 100000 bales, against $4,000 bales
last year.
OF the worlds visible supply of cotton