The record-union., 1898-01-15
The Year Has Opened With Very
Satisfactory Prospects.
Has Been No Wild Excitement TO Affect the
Speculative Markets.
Prices Generally Steady, With an
Upward Tendency - Industrial
Activity Most Manifest at the
West, Where the Demand for
Iron Products Is Very Large.

NEW YORK, Jan. Ar. C. Dun &c
Cos. Weekly Review of Trade will
say in it's issue of tomorrow:
The year opened with very satisfac-
tory prospects. 1t is all the better that
there is no wild excitement in the spec
ulative markets, and while stocks adj
vance little, grain yields a little. The
payments through principal clearing
houses, Notwithstanding a decrease at
New York. owing to less activity on
stocks, are 70 per cent. larger than an
1872 and 10 per cent. larger outside New
York
Earnings of all railroads in the United
states, reporting for December, S43.-
o64, 2I9, indicate substantially the same
rate OF increase. exceeding last years
by 100 per cent, and the earnings of
1S92 for the same roads by Is per cent.
Since 1S92 was on the whole the most
prosperous year thus far. comparisons
indicate. Notwithstanding tha.Aowest
prices ever known. that the volume. cc
business is larger. and in spite of some
cutting of rates, the 6arnIass Of rail-
roads are larger than in the bestgyear
Of past history.
The wheat market has been curiously
ianguid, yielding 14c, although Atlantic
exports amounted to 6.o56,T 1873 bushels
for the two weeks of January, against
6,9S6,3lI last wear, and Pacific exports
Tor the week have beer LOOT .676 bush
els. Western receipts continue so heavy
that with the greatest accumulation OF
wheat at CHICAGO ever known there is
little encouragement for speculation.
Receipts were 5.5T7, $50 bushels for the
two weeks, against 3,09S, 6SS bushels
last xear.
The iron furnaces in blast January
lst re0ort an output of 226, 60S tons
weekly, against 226,024 weekly Deem
Der lst, with an increase of II. 4S1 tons
IN the unsold stocks held by furnaces.
The PENNSYLVANIA road has ordered
1Os,OOO tons of steel rails, and new
railroad in Maine $4,000 tons, and othes
orders for cars, railroad supplies, plates.
bars and structural material re In
usually large for the season.
The -voolen manufacturers have beer
buying DOL largely, and for reasons not
publicly explained. 1t is evident that
large orders have been taken by the
leading mills at prices which they find
satisfactory, and the rush of small mills
to buy wool has made most of the mar
ket during the past week, although sales
have declined about 40 per cent. COM
pared with the previous week But there
is decidedly better demand for mems
wear goods and the makers look forward
to good demand soon.
The cotton manufacturers have been
overlooking by excessive production.
and find no increase in demand and no
gain in prices.
Failures for the past week have been
$40 in the United States against 400
last year, and 10 in Canada agaisnt IL
last year.
NEW YORK, Jan. 14.-Bradstreets
Of tomorrow will say:
Distribution of trade remains. rather
quiet, mild weather throughout the
country tending to check distribution of
winter goods. Prices generally are
steady, or tend upward, except for some
grades of iron and orders for spring
trade, where received, are encouraged.
Industrial activity is most manifest at
the West, where the demand for iron is
very large.
A feature of the week was the placing
of an order by one railroad for 100000
of steel rails, with smaller orders. ag-
gregating in the neighborhood of %, 900
tons more. Pig iron production is now
at an unprecedented rate, the furnace ca
pacity being estimated at ZOO, 600 tons
a month.
At the South manufacturing activity
is a feature, sales of iron being very
heavy. A good export demand for cot
ton and grain at steady prices is a fea-
ture. AT the East a number of strikes
against wage reductions are reported or
expected in the cotton industry. Some
wooden mills working on heavy mems
wear goods are refusing orders, their
capacity being fully booked.
Anthracite coal production is such
that it is said that it's trade will be re-
stricted sufficiently to allow of the,ad-
vance of 20 to 40 cents per 1000 being
maintained.
Weather has been disappointing at the
northwest but an Improvement devel-
oped at some centers as the week adj
vanced.
The rush to Alaska has already begun
ION the Pacific Coast. Freight charters
are reported lower. Export trade con-
tinues large, gain of per cent. on
the total export of breadstuffs, cotton,
mineral ores, cattle and hogs and pro-
visions being shown both for Decem-
Der and the calendar year.
The recent falling off in wheat ex-
ports prove, as was indicated last week
in Bradstreet's, to have been due to the
usual holiday quiet, and not to any fall
ing off of demand from abroad.
The total exports of wheat (fiour in
cluded) from the United States and Can
ada for this week amounted to 5,135, 166
bushels, against 3,S41. 900 bushels last
week, 1884 900 this week a year ago
and 3,202 600 bushels in 1896. Corn ex-
ports for the week show a gain of l,OOo,-
600 bushels, amounting to 4,64l,OUO
bushels, against 3.45500O last week, and
3, 1856 600 bushels in the corresponding
week of 1896.
AS was expected, the failures are
slightly decreased in number, amount
ing to 3233, against 333 last week, 479
in the week of 1897; AZ in 1896; 37S in
1895 and $50 in 1894.
Condition of the Treasury.
WASHINGTON, Jan. ID. - To-day's
statement of the condition of the treas