The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1893-01-05
REVIEW or THE YEAR.

Trade Has Followed the Lines OF an En-
1arging Prosperlty--Ths Most Prosper
aus Year Ever Known.
New YoRK, Dec. SIR. G. Dun g.
Co.'S weekly review of trade says:
The most prosperous year ever known In
business closes to-day with strongly favorable
indications for the future. From nearly all
points comes the report that the holiday trade
has been the largest ever known, and while
wholesale trade is not usually active at this
season OF stock taking it is remarkably
large. Settlements through clearing houses
outside New York In December were apparent
~ the largest ever made in any month, xceed-
ing last years by more than 10 per cent For
the year the volume Is also about 10 per cent
larger than last year, and tho largest ever
known Railroad earnings in December show
an increase OF about 3 per cent. over last year,
ana Tor the year an increase Of about SIS per
cent Foreign trade has been smaller
than last year in volume OF exports-at New
York Il 5000 in value for the last four weeks,
and at cotton ports about SIC, 900 less-bus
imports at New York have been S3OOo, 900
larger and the month still shows great ex-
cess OF exports For the year the excess OF
merchandise exports has been not far from
e7O.o '0O. with the largest imports and the
largest total OF exports and imports ever
known In any year.
The year closes with all woolen cotton and
silk machinery fully employed, and unsold
stocks OF goods much lighter than usual, while
the demand for the coming season already ex-
ceeds the capacity Of many mills The orders
In dry goods are extraordinary. Sales of wool
at the chief markets have been 3os.ooo,oo)
pounds. against 246 100000 last year, and for
e1gn imports have been the largest ever known
with domestic supply but slightly behind the
largest
Boston reports quiet wholesale trade Wool
Is quiet but firm. At Philadelphia iron Is
A
demand for finished products is diminishing
but glass is fairly active The shoe trade Of
Cleveland is excellent and other trade good,
though In iron no improvement is seen and
4.OOOOo tons iron ore remain on the docks. The
Clothing trade is good at Cincinnati and ma
ch1nery and foundry business up to the usual
mark. At Detroit trade is maintained. Bust
ness at Chicago is good in all lines especially in
heavy dry goods Holiday trade was very good
at Milwaukee. At St Louis retail trade
unusually strong. Business at St. Paul ex-
ceeds last years and is large at Minneapolis,
though lack of water restricts the -four output
The lumber trade is most prosperous. BUSH
ness at Omaha and at Kansas City is satisfac-
tory. At Nashville trade is GOOD and at New
Orleans active, especially in sugar.
In iron the trade is weaker, tho demand for
finished products being at present light But
steel rails have been reduced to $40 per ton
and sales of 78,0C0 tons have followed. This
market for securities, which has been de-
pressed for some months by foreign selling and
monetary uncertainties, so that companies
have been restricted in purchases OF rails
and supplies. But for the last week stocks
have been stronger, gaining about a. per share
In average prices. Speculate ton in products has
been comparatively inactive, though wheat has
been advanced by western pool nearly two
cents
Cotton has been steady and strong, with di-
minished receipts
The year 1892 was remarkable for fewer fail
ures than have occurred in any other year
since 1885, the numbers reported being 1884,
or 2,O29 less than in 1891 The Indebtedness
OF firms failing was but &1l4,0O).O0O in 1892,
against SIS, 900 in 1891 and about the same
in 1890.
The average liabilities of firms failing in
1892 has been only $1l,O0o the lowest average
reported since 1873
In 1892 only one in every 113 traders failed,
against one in every ninety three in 1891. and
one in every 100 in 1890.