The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-01-22
WEEKLY REVIEW OF TRADE
THERE IS a REMARRABLE VOLUME
OF BUSINESS.

Thirty-eight Per Cent. Larger Than
Year Ago and In View of This 1t Ia Not
DiscouraginG That One or Two Indus
tries Are Lagglng-Demand for Goods
Heavy.
New York. Jan. 21.-R. G. Dun & Co.
In their weekly review Of trade will say:
With volume of business remarkable
for the time of year. 3S per cent. larger
than year ago and 1914 per cent. larger
than in 1892 in payments through clear
ing houses. it is not discouraging that
one or two industries are tagging. The
demand for most goods is more heavy
for the season, manufacturing works
are better employed, and orders booked
and prospects for the future are more
encouraging than at this season in any
other year Of which equally definite rec
ords exist. Exports Of products con-
tinue surprisingly heavy in spite Of
some rise in prices. Treasury receipts
from customs were larger in twenty
days Of January than in the entire
apprehension regarding the monetary
future Is no longer felt outside Of spec
ulative circles. Failures are considera-
bly, smaller than were over known at
this season. both manufacturing and
trading less than half last years
The rise of wheat above dollar in
regular sales was not accompanied by
signs of speculative excitement The
fact that cargoes of corn were shipped
during the week both to Egypt and
Russia, the very countries upon which
Europe most relies for breadstuffs next
to the United States, affected trade not
unreasonably. Evidently the markets
Of the world are this year quite at the
mercy Of American supplies, and 1T is
fortunate for this country that the pre-
vailing disposition is to market grain
in large quantities rather than to force
UP speculative prices and lessen foreign
consumption.
Just when unprecedented production
Of pig iron was causing weakness ex-
traordinary demand for finished prod
ucts appears. For this season, at least,
the general demand is beyond prece-
dent, including 100000 tons of steel rails
for the week and 100000 already this
year; orders for plates so large that
Pittsburg works send away some to
other concerns, unable to fill al they
receive; orders for bar such that many
concerns are obliged to refuse more; an
excellent demand for sheets and fair for
structural FORMS Prices of all finished
products are sustained by the demand,
though Bessemer pig is five cents lower
at Pittsburg, but pig at Chicago Is very.
strong, with some production of finish
ed forms delayed by it's scarcity.
While not one reporter in the boot
and shoe market tells of large contracts,
manufacturers are buying leather heav-
lily, one statement making sales of hem
lock sole alone 900,00 sides for the
week. Exaggerated or not, sales are
heavy enough to prove that some of the
largest manufacturers are either taking
contracts or have resolved upon a
course which will secure heavy business
No yielding by jobbers in prices being
discovered, 1t is the natural inference
that heavy future engagements have
been secured through concessions, both
by manufacturers Of shoes and by hold
ers of leather. though the open quota
lions of leather are little advanced.
Hides at Chicago are also shade high
er, but their holding is generally dis
trusted.
The great strike Of operatives in cot
ton mills of New England seems as con-
venient to mill owners with their heavy
stocks unsold as If they had ordered it.
Probably it will last long enough to
work off stocks, and the print cloth
market is already about one per cent.
stronger, while slight advance is not
ed in some other cotton goods. With
very stagnant markets for wool, sales
amounting to only 5,395,200 pounds at
the three chief cities, which reported
over Is, 800, 900 in one week of September
and 66, 5000 900 in four weeks, the inquiry
for round lots Is mainly for three
eighths and a quarter blood, suitable
for cheviots, but have resulted in little
dealing. The mills have taken salts
factory orders for such goods, probably
not without knowing where they could
get the wool, and the goods movement
Is distinctly encouraging, though quo
tations of the higher priced heavy
weights are still deferred. But very
large business for the coming season is
already assured. according to reliable
accounts entitled to confidence. Fail
ures for the week have been 81 in the
United States, against 400 last year, and
f1fty-three in Canada, against sixty-fve
last year.