The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-08-03
CONDITIONS ARE
MORE PROMISING
Owing to The Improved Crop
Prospects.
FLUCTUATIONS IN CORN
Foreign Buyers Driven From the Mar
ket by High Prices.
THE LABOR SITUATION IS PROMINENT
Record Breaking Output Of Pig Iron For the
First palf Of the Year. The Capacity
of Iron Furnaces Greatly
Enlarged
by the Associated Press


New York, Aug. Pr. G. Dunn and
Companys weekly review of trade tomor-
row will say:
Continued favorable weather condi-
tions have resulted in )the saving of
much late planted corn, and in the North
west ideal weather for spring wheat har-
vest has been enjoyed. AS this is the
point that business in all part of the
country has been most carefully watch
ing, the general feeling is better than
a week ago. although disposition on both
sides to settle the steel strike has not
yet resulted in any agreement, and the
labor situation is thus kept prominent.
Official returns of pig iron production
in the first half of the year show a rec
ord breaking aggregate of 7,674,713 tons,
exceeding the remarkable output of the
previous year by 80 ,044 tons.
THE second half of 1901 has opened
with much greater capacity of active
furnaces, and the full year promises a
considerable larger total than the 49,
7S9,242 tons produced in 1900 During the
past week leading mills have placed large
contracts for early delivery and inquiries
for all forms of finished steel are album
dant. There is less disposition to pay
fancy prices for products that were adj
vanced by the strike which is an evil
dence of the general belief in early re-
sumption of work. An unfavorable show
ing for the first half year in both ex-
ports and output of copper results in the
first alteration in nominal prices since
the advance to lie. eight months ago.
Violent fluctuations have marked the
course. of corn prices. The top point of
the previous week was not regained but
traders on the short side of the market
were compelled to cover at a loss The
decrease in marketing is not in proper
ton to the advance in price Whatever
benefit may have accrued from the high
level of prices, it certainly has driven
foreign buyers out of the market.
Dealers in some drought stricken dis
tricts have countermanded orders for
footwear, and these cancellations are felt
mainly by Western makers, but as a
whole the industry is in a healthy posi-
tion. Leather is quiet, shoe factories
buying lightly owing to the large sup
plies taken recently. Liberal arrival of
hides tend to depreSs values. Wool has at
last risen slightly above the lowest point
in four years. The cotton market awaits
the Government report in a dull and weak
position.
Failures in July were 697 in number,
against 793 last year. and 81, OBS 1913 in
amount of liabilities, against $9,771, IT'S
in 1907
(Note: Failures for week not stately
COMPARATIVE COTTON STATEMENT.
New York, Aug. 2-For the week end
ing Friday, August End, 1901:
Net receipts at all United States ports
during week, 1904; net receipts at all
United states ports during same week
last year, 1850: total receipts to this
date, 7,444,172; total receipts to same date
last year, 6,490,96 exports for the week.
39,7S7; exports for same week last wear,
3d. lis; total exports to this date. 6.27O.-
49, total exports to same date last wear.
5,6S7 ,106; stock at all United States ports,
1874, 157; stock at all United States ports
same time last year, 112,927 stock at all
interior towns, 161, 274 stock at all in
terror towns same time last year, Al PIT;
stock at Liverpool, $40 900; stock at Liv-
erpool same time last year, 304, 900;
stock of American afioat for Great Brit
ain, $4,000; stock of American afioat for
Great Britain same time last year, 1900.
TOTAL NET RECEIPTS.
New York Aug. 2-The following are
the net receipts of cotton at all United
States ports since September 1st, 1900:
Galveston, 2,123,4 51 bales; New Or
leans, 2.43097S; Mobile, 131,099 Savan-
nah, 1.0S0,731; Charleston, 232, 29O; Will
mington, 25S,093; Norfolk, 27,395; Balti-
more. 1883 New York, 1884, 4S; Boston,
l96,9O7; Newport News, 1,O3S; Philadel-
phia, 1886; West Point, -; Bruins
wick, 1Ol,oS1; Port Arthur, 2o,654 Pensa-
cola, 131.57S.
Total, 7.444.172 bales.
TOTAL BANK CLEARINGS.
New York, Aug. 2-Total bank clear
ings for the week ended August LIST.
$1,773, 3G5, 296; increase of 1876 per cent.
Total outside Of New York $647, sos. 444:
increase of 1871 per cent.