The herald., 1898-12-24

I'D, SATURDAY MORNING,
212 against 234 last week $50 in this week a
year ago; 327 in 1896 and 316 in 1895.
Business failures in Canacd number ~
as against 80 last week and 30 in this week
a year ago.
FINANCIAL REVIEW
Bradstrest's financial review tomorrow
viii say:
In View of the recent rises and large stock
exchange transactions, II was thought that
the market previous TO the holidays would
be dull and react. The beginning of the
week was marked by tendencies which
agreed with this estimate but after the hrst
day or so renewed strength developed and
prices were in many cases carried to the
bisnest yet reached, the activity Of specu-
la lion beng shown by the total dealings
from W edncsday to Friday which were
well up 10 100000 shares each day. While
loading financial interests were active and
paye i support to certain specialtses which
had due effect in both starting ang main
ls.iti,nS the movement, the puylhS OF stocks
by the public was the mos bullish factor
Of the week, steck commission and broker
age houses have almost uniformly mad an
Exceptionally large volume or business ana
while tine extent of the advances has in
duced a great deal of profit taking by both
the proCessionals and the publ'c, conces-
sions in prices devslop further purchasing
power Lehe9n was 1heimfu ne ind1ging III in nro ad
The renewed strength Of the market n here,
however had stinlu,. uhs en- on itn
terest in them and in the alter por.l1n pi,.o,. ol
the week thele was fair fore,..o pufchas1 pII3sh ;
ing. 1t seems, however, that the t,..
financial press exhibits suspicious atm
tude toward Americans and recommends
a suspension OF buying until a reaction &C.
ours Theori.s of this kind found favor a:
the outset with large section of the board
room profess cnals here, SO that their short
IA in ttpfr, ttov, .f
cline, such as tne, market Invariably dis
plays iuKt before The chief holiday week of
;he year, sinplitied the work of the leaders
who constituted the renewed advance. To
speculative in character, although the fall
ing eff in the bond transactions 10 around
the diminished activity in number of bond
issues which manipulate ton has been rather
apparent. AT the same time it must be ad
mitted that The purchasing on the part o.
the public was mainly for speculation, an
idea that Iurthef large advances in stock
values are in sight being among he prin-
ciPal influences pl the moment.
Dun & Co.'s Review
NEW YORK. Dec pr. G. Dun e. Co.'S.
weekly review of trade will say in tomor-
rows issue:
1t is a year beyond parallel and goes to
It's close with the biggest volume of business
ever, done. Enormous transactions at the
stock exchange makes some difference and
heavy railroad earnings, but when all the
transporting and speculative interests are
eliminated there is sill much larger bust
ness than in any other month of any year.
Last year the exports were in volume
greater than in any previous month in the
history of the country, but this year the
hree weeks reports show an increase of
20 per cent against per cent in imports.
which would indicate much more than S7U,
900 0OO excess of exports this month.
The payments through clearing houses
have been for the week 26.5 per cent greater
ina than last year. and IA greater than ir!
1892 and for the month 17S per cent larger
than in 1892. Until now no greater volume
of business has ever been done In the his
tory, OF this country than the closing month
of this year.
Shipments of wheat have been 32S5, ,704
bushels, flour included, at Atlantic ports,
against 3.69S,32l yast year, although west
eln receipts for three weeks have been 25,
cSe.0S0 bushels, against 10,30S 929 last year,
a fact which the believers IN a small crop
may well consider. From Pacific ports the
shipments have been for the week 13lG0l9
bushels. against $4,000 bushels last year.
Considering the enormous exports from
July lst to date, exceeding las; years, one
can only wonder that the outgo this year
mas been so large and the price has risen
during the week cent and a half
Sales of wool have been large, 1886, 100
pounds against 2l,1l5,200 pounds last year,
and q, ,5SJ,2 200 in the same week of 1892 witE
small as well as large. manufacturers buy
ing very freely, which indicates a general
Improvement IN ih5 demand for goods al
.HouBn not enough as yet to lit prices. The
story of the iron manufacture is alike a
dream. With $4,000 tons Bessmer pig sold
at lIttsburg, for Sl0.60, and grey forge at
$40 and Chicago sales limited only by the
capacity OF the works and eastern sales so
numerous and so large as to raise the price
20 cents, there is a demand for finished
products, which includes at Philad slphia
l,C0J tons of plates for export to South
America; $4,000 tons steel rails by the Mary
land Steel company. for As.atc Russia;
coo tons for Australia, against British
bids at Pittsburg, and about ten thousand
tons domestic at the east; 660U tons Of struc-
tural work at Chicago and Pittsburg, and
5000 tons for car building a; Chicago all
the works there being crowded with heavy
orders. Prices of iron and steel products
nave not materially changed, but this coun-
Try is beating the world in this industry
All this business is done with full belief
that the next years demand will be greater
than ever before and it is credi; BILE espec-
tally in the iron and steel business, that so
little advance in prices of finished products
has besn made. The range Of prices is
nearly 70 per cent lower than in 1892 indi-
eating an astonishing increase of quantity
of products exchanged. How Europe will
be BILE 10 pay more than S75 000, 600 due on
on account for the month of
December besides the enormous balances
due for November and previous months is
a question which the country can afford
10 consider at its leisure and with comfort.
Failures for the week have been 258 against
292 In the United States last year and 81 in
Canada against 80 last year