The record-union., 1897-12-18
Payments Through Banks in Excess Of
Those Of Any Previous Year.
Production of Iron, Manufactures,
Wooden Goods, Boots and Shoes
Larger Than Ever Before-Ex-
ports Eclipse All Records, and
Failures for Two Weeks Small
er Than for Corresponding
Weeks in Five Years.

NEW YORK, Dec 17.-R. G. Dun &
Cos Weekly Review of Trade" will
say in its issue tomorrow:
Close to its annual holiday and halt
the business of the year is surprising
ly large. Payments through banks are
again 20 per cent. larger than in 1892
heretofore the year of greatest prosper
ity; the production of iron manufac-
lures, woolen goods, boots and shoes is
larger than ever before; exports eclipse
all past records, and failures for two
weeks have been the smallest for cor
responding weeks in five years.
The treasury receipts show a steady
increase for the first half of Decem-
Der over previous months, both in Gus
toms and in internal revenue, and the
heavy payments to the Government on
Union Pacific account caused but Slight
stringency in money markets, with
preparations for large cancellation of
bonds.
The most weighty news of the week is
The rise of merchandise exports in No
Vember TO S116,63O, ,290, the excess OF
exports in four months being 500
2l2,4Ol, while in half of December ex-
ports are nearly as large, and imports
S2.oOO,000 smaller than last year, when
the excess of exports was S5S. .205. .366.
Probably all records were surpassed by
exports for this year, which have been
S9I4,600,O00 in eleven months. and the
excess over imports in five months has
proba bly, exceeded $3.50 100000
The output of pig iron December 1st
was the greatest ever known, 226. .064
tons, against 213, ,159 in November,
1896, and 217. .306 in November. 1895.
the highest point heretofore. Unsold
stocks also decreased in November 29,-
6o2 tons, indicating the consumption of
about 100000 weekly during the month.
Bessemer declined in the face of such
production 10 per cent, and gray forge
% per cent. at Pittsburg The demand
was, on the whole, greater, and un-
usual structural contracts for the sea-
son were placed, with sales of 10000
tons Of steel rails at New York, and
the largest orders ever booked by the
Illinois Steel Company, it is said, and
unexpectedly heavy business in plates.
Much buying also resulted from expec-
tation of the wire consolidation, includ-
ing 25000 tons Bessemer and fifty tons
billets at Pittsburg.
ports for the month are estimated at
10000 tons, and tin plates are slightly
stronger.
Wheat is just now the backbone of
foreign relations and Atlantic exports
in two weeks have been 7.SS0.942 bush
els, against 5.413.677 last year, while
receipts rose TO 1906, 122 bushels
against 6,625.3S2 last year.
H. !
creasing and some mills are in the
market providing for a greater produc-
ton. The wool market is remarka bly,
dull, sales a the three large points be-
ing 15307. 100 pounds, against 1S100,-
100 last year; 1T.199, ,110 in 1895, and
16,544, 100 in 1892. While prices are
said to be held without change. manu-
facturers are hunting for bargains and
foreign wool in considerable quantity
is coming this way
Failures for the week have been 800
in the United States, against 3S7 last
year, and twenty-eight in Canada
against forty-two last year.
NEW YORK, Dec. 17.-Bradstreets S
tomorrow will say:
A sensible quieting of demand in
wholesale lines is reported as the holi-
day season draws near and the stock
taking period approaches. Chief among
the favorable features Of the week has
been enlarged inquiry at higher prices
for steel in various forms. accompanied
by advance in the prices of sorts most
affected. a correspondingly heavy bus
mess has developed in pig iron. and
prices show but slight shading in
face of the current immense production
The wheat market has been less fever
ish, and prices are practically un-
changed from a week ago, while corn,
oats and sugar are additions to the list
of the products showing advances.
At the East trade in wholesale lines
is quiet but retail trade has been slim
ulated sufficiently to allow of a fair
record of business in seasonable lines.
Notable among favorable features is
the improved inquiry at higher prices
for several kinds of steel, especially
billets and wire and nails.
The approach of the holiday season
has induced freer realizing on cotton
by planters and others with the South,
and increased activity is noticeable in
retail lines and among jobbers in sea-
sonable goods.
Collections are slightly better in con-
sequence, although the low price OF the
staple is a discouraging feature.
Aside from price depression in its
chief products. the Southern business
situation presents many encouraging
features notable among these being the
active demand and firm or higher prices
for Louisiana sugars and rice and leaf
tobacco.
Export trade on the Pacific Coast is
very heavy, and shipments Of wheat.
60 C A