The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-02-02
LOWER PRICES IN WOOL
Preparing For a Season of Activity
in Dry Goods.
PRICES RULE FIRM IN The STEEL MARKET
Boot and Shoe Shops Report an Increase Of
Orders. The Jlnuary Corner in Cotton
is Viewed With COmposurs
hv cn;nnpPe
bY Spinners.
(By the Associated Press.)

New York, Feb 1.--R. G.. Dun and
Company's weekly Review Of Trade
tomorrow will say
THE week in general business has
been without striking new feature, but
i'm this respect the outcome has been
favorable. Not one Of the great indus
tries finds any scarcity of orders for
good rise, except in textiles which have
been affected by the reduction of ten
to twenty per cent in the seasons open
ing prices by the American Woolen
Company This cut is expected to be
indinitely continued Developments
i'm the money market. however, indicate
that the dry goods trade is preparing
for a season of activity and the new
wooden prices are not lower than most
buyers expected. There is nothing dis.
couraging in the slight decline in COM
modify prices from January 1st to Feb
ruary LIST, and railroad earnings con-
tinue large. increasing ILL per cent for
three weeks of January over last year
ami 262 per cent over 1899.
while steel mills have contracts
on hand foe their output from three to
six months ahead, prices naturally rule
frm. Few actual advances are record
ed. but there is expectation of a higher
figure soon for Bessemer pig iron While
rumors are numerous as to a rise in bill
lets, plates and structural materials.
All these lines show a brisk demand.
Wire nails and barbed wire were adj
vanced 81 per ton. owing to heavy or
ders from the West and ii is expected
that the few mills still idle will shortly
resume. Activity in Texas oil fields
has an influence on the sales of pipes
and tanks. Export orders decrease, and
the Russian armor plate contract may
go OF an American, although his terms
were the best.
Boot and shoe shops receive more
orders. and although quotations are
nominally unchanged. many makers
refuse new contracts without a small
advance. The upward tendency is SO
general that purchasers are eager to
do business at the current level. job
bers have arrived at Boston in great
numbers, and inquiries indicate the
liberal sales will result. Leather sees
freely, particularly of union seal, but
the large transactions were probably
at slight concessions. Glazed kid fac
tories are running at fun capacity but
fail to meet the demand. The market
is irregular with more quotations ad-
vancing Than declining.
~ sudden increase of sales of wool
at the three chief Eastern markets to
5,412.000 pounds against 2.S53.400 in the
previous week, if merely the recovery
following such an unusually dull sea-
SON For five weeks sales were 1S,6S7,-
zoo pounds. against 2s,579.93O in the
same week. of 1896 which was the
smallest aggregate in five years. These
figures indicate present conditions i'm
this industry. Heavy weight suitings
We're opened at the expected reduction
Cotton vagaries have not been re-
garded with alarm by spnners since n
temporary corner cannot have any inn
portant effect in the commercial world.
Some mills sent their raw material to
the aid of short sighted individuals who
had sold cotton they did not possess,
although local stocks were known to be
light, and the manipulation of the jan
uary option was rumored. For q few
days midd,ing uplands sold at twelve
cents. suruassng all records for many
Years. but with the end OF the January
deal there was sharp decline to Il
more rational position"
COMPARATIVE COTTON STATEMENT.
New York, FEB. 1.--For the week end
ing Friday: Net receipts at all United
states ports during the week. 19l ,O4G
net receipts at all United States ports
during same week last year. 2l5.02S; to-
tai receipts to this date. 5,33l $50; total
receipts 10 same date last year. 4.7l7, 800
exports for the week. $50. .25G exports for
same week last year 1850 total cx-
ports TO this date S.55S.7i4; total cx-
Forts 10 same date last year. 33l7.1lf
stock ~ all United States ports. 1876, S37
stock at all United States ports same
time last year. 1922. AL; stock Mt all in
terror towns, 1902; stock at all in
tcrior towns Same time last year. 67l.-
SO: stock at Liverpool. $4,000: stock at
Liverpool same time last year. 667 .OO0
stock Of American agoat for Great Bril-
tain, $4,000; stock of American afioat for
Great Britain same time last year. 1S8.-