River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1896-12-24
HOLIDAY TRADE.
The Volume IL Large, But Mostly Con-
fined TO Cheap Goods.
New York. Dec. 19.-R. G. Dun & Co
In their weekly review of trade. say:

In their weekly review of trade, say:
Cuban reports, unusual closeness OF
money In Germany, and the decision that
there will be no action on the tariff AT this
session, have not really changed the situ
alton. but have been talked about as 4
they might change IL. The holiday trade
IS generally large. though at some points
more confined TO cheap goods than usual.
and the influence of an increase in tbs
working force Is felt IN other ways. Blu:
until the new year the only material
changes expected are such as prepare for
A large business next year. In the iron
and steel lndustry these appear of the ut
most importance.
Since events for some months to come
viii turn largely ON the state of foreign
trade. II is cheering that produce exports
in November were sl09.00l s37 In value.
amounting for three months to $500, 74s. 577.
more than double the value of imports.
which were $751;, 361 ,351 The enormous ex-
cess. which has brought hither in three
months net imports OF gold amounting to
SfS.eiv. ,s3. besides establishing credits OF
many millions in London. which virtually
pay In advance for future imports. has NOT
prevented. II is believed. a special shipment
OF goods TO Germany next week, for which
the herman bank pays a premium to meet
demands January /. supposed TO be on Rus
Sian account London affects the ship
ment by borrowing more millions here. so
that the amount of such sterling advances
is now reckoned at $35.UU0.0O0. More of such
borrowing may cause advance in the rate
OF interest. realizing on exchange drafts.
OF which many become due before or short
ly after January /, and sharper deTna M
on London than may be convenient But
with 81 worth OF produce going out foi
every 81 worth of goods brought in. nothing
OF an ordinary nature can cause gold ex
porrs OF consequence. In two weeks OF DE
cemoer exports from New York have besl
per cent larger and imports here II per
cent smaller than last year.
THE control OF the Mountain Iron Mes
saba mine has been leased for 30 years OF
purchased by the Carnegie interest fro n,
Mr.. J. ID. Rockefeller. the ore to be shipped
~ his new steamship line on the lakes
and by the new railway which the Carnegie
company Is building to Lake Erie. This,
with the erection Of 10 new open hearth
furnaces, making 81. insures enormous in
crease of product at extreme low cost, and
will affect all combinations in steel prod
ucts or in ore. The rail association has
been IN session. and our Philadelphia dis
patch states that rails are sold al SO
against SIS. so long maintained. BessemeI
pig and gray forge are shade lower al
Pittsburgh. Virginia and Alabama iron
are offered rs cents lower at the east, am
with so much uncertainty regarding greai
changes In progress. very little is done IL
finished produc 5 and generally at conces
sion5.
stocks have been weak. Almost PAM,
occurred on Friday when the Cameron
joint resolut!on was adopted by the sen
ate committee. Spectators Immediately
felt the war with Spain beginning, and 81
Paul. Burlington and Rock Island broke
five points. while the whole list lost over b
point
Wheat rose about cents Monday bu
declined still further and closed one-hall
cent lower for the week.
Failures tor the week have been 3S7 N
the United States. against 81 last yeaI
and Al In Canada, against 81 last year"