The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-12-24
IT HAS NO PARALLEL
YEAR JUST CLOSING HAS PROVED
A VERITABLE BUSINESS REC
ORD BREAKER
TRANSACTIONS ENORMOUS

Increase of Twenty-Five Per Cent
over the Exports of Last Year
No Greater Volume of Business
Has Ever Been Done in the
Country.
NEW YORK. Dec. 23.-R. c. Dun &
Co.'s weekly review of trade will say
in tomorrow's issue:
"It Is a year beyond parallel, and
goes to It's close with the biggest vol
ume Of business ever seen. Enormous
transactions at the stock exchange
make some difference as do heavy rail-
road earnings, but when all transport
Ing and speculative interests are elimi-
mated there is still a much larger busi
ness than in any other month Of any
year. Last year the exports were in
volume greater than any previous
month in the history Of the country,
but this year the three weeks report
shows an increase Of Is per cent
against per cent in imports, which
would indicate much more than $20,-
900, 900 excess of exports this month.
The payments through clearing houses
have been, for the week $3.50 greater
than last year and go greater than in
1922, and for the month 18 per cent
larger than in 1892 No great
er volume Of business has ever been
done in the history of this country than
in the closing month of this year.
''If the cotton manufacturer takes a
leading place this year, it is not merely
because cotton is an eighth lower than
year ago, nor because prospects for
buyers are so good, The manufacture
has been much expanded by increased
demand, so that prices Of nearly all
the goods quoted in our report have
advanced more or less, and there is q
feeling that with unreasonable accu
mutation Of print cloths out of the
way, there is a brighter prospect for all
goods.
Sales of wool have been large 81,
1885, 100 pounds, against 23,115, 200 pounds
last year, and 81, $50. 200 pounds in the
same week Of 1892, with small as we'll
as large manufacturers buying very
freely, which indicates a general i'm
provement in the demand for goods
although not enough az yet to lift
prices.
"The story Of the iron manufacturer
Is like a dream. With 25, 900 tons of
Bessemer pig sold at Pittsburg for
$1,000, gray forge at $9.40, Chicago
sales limited only by the capacity Of
the works, and Eastern sales 80 numer-
Gus and so large as to raise the price
25 cents, there is a demand for finished
products which includes at Philadel-
PHO 1000 tons of plates for export to
South America; 5000 tons at Chicago,
where works are crowded; $4,000 tons
Of steel rails by the Maryland Steel
company for Asiatic Russia; 35, 900 tons
for Australia, against British bids, at
Pittsburg, and about 10, 900 tons domes-
tic at the East; $500 tons structural
work at Chicago and Pittsburg, and
s 900 tons for car builders at Chicago,
all the works there being crowded, with
heavy buying of sheets and wire rods,
and sharp competition at the South in
cotton ties, a pending contract for 20,-
900 tons cast pipe for Yokohama, and
sales of smaller quantities in each class
too numerous to mention Prices of
iron and steel product have not ma
terially changed, although the tone ts
everywhere stronger and for wire nails
quotations have been advanced to $1.30
at Pittsburg. But this country is beat
ing the world in this industry.
'All this business Is done with the
full belief that next years demand Will
be greater than ever before. and it is
creditable, especially in the iron and
steel business, that 50 little advance in
prices Of finished products have been
made. The range Of prices is nearly
20 per cent lower than in 1892, indicat-
ing an astonishing increase in the
quantity of products exchanged
How Europe will be able to pay
mere than 500. 600, 900 due on merchan-
disc exports, due the month az we'll as
the enormous balances for November
and the previous months is a question
which the country can afford to consid-
er at it's leisure and comfort.
Failures for the week have been
25S against 292 in the United States
last year, and 81 in Canada against SO
last year"