The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-11
BUsI TESS PR0sPERIEG.
The Panic in Wall Street Apparently Does rot
Effect Legitimate Trade.
tBy The Associated Press

mercantile trade and manufacture adj
versely affected by violent fall in prices
of securities. Throughout the entire coun-
try fundamental conditions were never
as sound as at the present time; re-
ports from nearly every city this week
showing an exceptional volume of trans
actions and payments promptly met.
Production is not overtaking demand
at the finishing steel mills, and all Pitts
burg plants are two months behind orders,
while ninety days is the limit at many.
Although the total number Of furnaces
in blast on May LIST was forty smaller
than on February list, 1900, the Iron Age
estimates the weekly capacity at 301,-
1875 tons, which exceeds all previous high
water marks
LESS sensational events transpired III
the cereal markets than in the preceding
week, although quotations are slow to re-
cede. Corn eased off a few cents, but is
still about ten cents q bushel, or nearly
% per cent above the quotation at the
corresponding date in the two preceding
years. Western operators continue to en-
terrain strong views, and appear little
daunted by the larger receipts attracted
to interior cities by the usually profitable
prices offered.
Recovery III JllG pllCS VI 1OLIoii We"
only temporary and heavy liquidation Of
options was accompanied by a fall in spot
middling uplands to the lowest figure re-
corded this year Even at loss of 80
bale, compared with the quotation pre-
yailing a year ago, there is little dispo-
sition to secure raw material, either by
domestic or foreign spinners. AS the end
of the crop year approaches there is no
nF goY ipt cd W
perts earlier in the season, and with most
monotonous regularity port receipts con-
tinue two or three times as large as in
the same week last year With a large
yield probable this year and unsatisfac-
tory conditions at the mills there is no
inducement to hold stocks.
COMPARATIVE COTTON STATE
MENT.
New York. May 1O.-For the Week
ending Friday, May 10TH, 1901.
Net receipts at all United States ports
during week, 1864; net receipts at all
United States ports during same week
last year, 24,S12; total receipts to this
date. 6,876, $40; total receipts to same
date last year, 6,227 1878; exports for the
week, 100,513; exports for same week
last year, 36,713; total exports to this
date 5597 ,101; total exoprts to same
date last year, 5,200,9S7; stock at all
United States ports, SAB, 261; stocks at
all United States ports same time last
year 345 S26; stock at all interior towns,
AL, 6l3; stock at all interior towns same
time last year, 191, 716; stock at Liver
pool, 75S, 600; stock at Liverpool same
time last year, 653 900; stock of Ameri-
can afoat for Great Britain, 10000;
stock of American afoat for Great
Britain same time last year $4,000
TOTAL NET RECEIPTS.
New York, May 1O.-The following are
the total net receipts of cotton at all
ports since September, 1900:
Galveston, ,939 40 bales; New Orleans,
| 2 ,254 PAS; Mobile, 1858; Savannah,
,O16,443; Charleston. 217,3O4 Whining
ton, 256, 215; Norfolk, S75,7S0 Baltimore,
so, 562; New York, 15S,O71 Boston, 189 ,087;
| Newport News, 1865; Philadelphia %
1856; Brunswick, 87,2S8; Port Arthur 90
| ga; Pensacola, 132, S12. Total 6876,910
bales.
TESTERS COTTON STATEMENT.
New Orleans, La, May 1O-Secretary
| Hester's statement of the worlds visible
supply of cotton issued today shows a
| decrease for the week just closed of 1885,
| 913 bales, against a decrease of 100, $50
| last year.
The total visible is 3,556,O71 bales,
| against 1862, 984 last week and 2,7O5, 529
| bales last year. Of this the total OF
American cotton is 2,492,O71 bales, against
| $3.50 5O4 bales last week and 2047 52s
| bales last year, and of all other kinds
including Egypt, Brazil, India, etc, t.
O64OOO bales, against 1,U79,OOO baies and
$685. 600 bales.
| OF the worlds visible supply there is
| now afoat and held in Great Britain and
| Continental Europe 1,825,000 bales, against
| ,691 900 bales last year; in Egypt III, 000
| bales, against 900 bales; in India $685.
| 600 bales, against 600 bales, and in
| the United States 1,O05,O 600 bales, against
sos, 600 bales.
Secretary Testers weekly statement
issued today shows that the total move
ment for the 252 days of the season from
September 1st to May 10th inclusive is
9,490, S41 bales, against 1868, GA bales last
year, and 1866, 400 bales year before last.
The movement since September 1st shows
receipts at all United States ports $685.
l68 bales, against 1884 999 bales last
year; overland, across the MISSISSIPPI,
Ohio and Potomac Rivers to Northern
mills and Canada / ,015, 64& bales, against
1,111,1 bales last year; interior stocks
in excess of those held at the close of
the commercial year 3S7, 546 bales, against
8,416 bales decrease under September
last year; Southern mill takings las
479 bales, against !, 14S,479 bales, against
1859 bales last year.
Foreign exports for the week have been
9S,8 $50 bales. against 43, 855 bales last year,
making the total thus far for the season
5,669,S0 bales. against 5,340,914 bales
last year, an increase of 32S, 1888 bales.
The total takings of American mills,
North and South and Canada thus far
for the season have been 1854, 1927 bales,
against 1879 S29 bales last year
Stocks at the Seaboard and the twenty
nine leading Southern interior centres
have decreased during the week 77,212
bales, against a decrease during the cor
! responding period last season of S.
3S3 bales.
Including stocks left over at ports and
interior towns from the last crop and
the number of bales brought into sight
thus far for the new crop. the supply to
date is 9,G13,375 bales, against 9,282, 512
bales for the same period last year.