New-York tribune., 1898-12-26
MONEY! AND BI SINESS.

Tho seasor of stock-taking is apt to be a rather
sober one The squarng OF accounts for the
war esnecially II its later months have been
prosperous is likely to bring back T. mind vari-
ous times of weary waiting depression which
kindly forgetfuness has buried out Of sight But
this diving old year has been so remarkable and
It's business changes have been so clearly con-
nected with the worlds history, that most men
are more satisfied than surprised at Its results
The map of the world has been more greatly
altered and with less loss of life than in any
other year since mapmaking began. But II
there were possible a chart exhibiting the share
of tho earth's surface controlled by the indus.
tries and trade and finances OF each nation that
man would be found more extensively recon-
s,ructed since this year began than any other.
No such map is possible. and in many direc-
tions American merchants are taking the ut
most pains not to make known their expansion
of business. Some large contracts are reported
with almost every country on the globe. ana
some heavy loans Of money by Americans 10 Eu-
rope with one effort by the Russian Government
to place a loan here: but the main fact that this
country has come to he creditor or the world N
not capable Of definite expression on chart.
The foreign imports here In four weeks have
been S3l .s21 .J16 in value against S3o.Olo,3J6
last year but the slight increase of 3.So per
cent looks small compared with the change In
exnorts which have increased SJ.1OOO0O. or 20
per cent from New York alone compared with
last year. while the cotton exports from other
ports have been about 10000 bales greater In
quantity and relatively more In value. gen.
eral gain OF NTH over exports OF S12o.OOO.OOO
in December last year. the greatest then known
I'm any. MONTH is hardly to be expected. but
there is certainty of another enormous
months balance due to this country. Consd
erablc gold is coming In through the Pacific
door from Australia but the loans to Europe
through deferred exchange must now be heavy,
This js the more probable because stocks have
continued strong in spite of any selling or ship
ment on European account Nearly year ago,
on the Monday before the destruction OF the
Maine IT was remarked. stocks have reached
the highest average in nearly five years" which
WAS scarcely over 500 share: but last week
the same stocks closed at S66 Is share
against 500 20 a week before and $G3 II on De-
cember g. The trusts rose even more last week.
So O2 a share. though they had risen less the
week before The earnings show come
decrease in the second week OF December
the first of consequence for long time.
said 10 be due to severe and extensive storms.
but the official reports Of eastbound shipments
from Chicago show no such decrease. but
greatly tACtcu IdSN S'ui - anu l'i 'A"'' WIN"
have been 327. .7O7 tons against 2o0,s94 last year
and 2O3, ,OSS In 1892.
II the old saying is correct. that the move
ment of iron forms the best barometer of gen
eral business. then the extraordinary new orders
following the greatest months output in the
history OF the industry must signify exceptional
prosperity The reports indicate a larger pro-
duction than December |. when 1t was beyond
all previous records. and the slow but consider
able rise I'm prices for materiaI-for anthracite
No here ~ cents this month. for Bessemer
20 cents and for Grey Forge II cents at Pitts
burg-shows that the enormous production no
longer exceeds the demand At Philadelphia !
The Iron Age" states that sales OF 1000 to TO-
600 tons each have been frequent, and sales OF !
0essemer at Pittsburg were $4,000 tens last .