The Portland daily press., 1898-01-29
BUSINESS ON INCREASE.
First Month Of New Year Exceeded
Expectations.
PRICES DID NOT IMPROVE, HOW
EVER, AS ANTICIPATED.

Railroad Earnings Were Over Eleven Per
Cent Larger Than the Best of Past
Years-An Industries Except Cotton in
Healthy Condition.
New York, January 2s.-R. @. Dun 81
Co., in their weekly review of trade will
say: The first month of the new year has
brought rather more increase in business
but less improvement in prices than was
expected. With payments through clear
ing . houses 7.3 per cent larger than
in 1892, and the greatest ever
known in any month, with railroad earn
ings II. 02 per cent larger than the best Of
past years, the fact that prices are very
low only shows more clearly the increase
in quantities of products sold. Nor is
there any disposition to refuse orders,
even at present prices; indeed, the COM
petition of manufacturers seeking orders
alone prevents rise. Most of them have
all they can manage, many working
night and day, and one great steel con-
Germ running on Sunday, but the works
not yet filed with orders are seeking CON-
tracts at as low prices as have ever been
made, indicating that even these are not
entirely improbable. The settlement Of
wages on ten per cent advance April
lst, for 200, 600 coal miners of the central
region, with other changes, will tend to-
ward larger demand for products of all
kinds, though also toward some increase
In cost of manufacture.
Wheat has been conspicuous, rising
cents for the week, with 1-S cents for.
May options. Western receipts have been
10, ,009, ,003 bushels in four weeks against
6, 6,045,712 last year, but Atlantic exports
have been IL, 003, 1928 bushels in four weeks
AGAINST 7,103, 674 last year, and Pacific
exports without Tacoma this week 4,051.-
5S3 bushels against 5. 454 1896 last year. So
heavy an outgo with wheat over 81 per
bushel and with corn exports for the four
weeks edualling the extraordinary move
ment of last year. discloses the strength
of foreign demand even better than cur
rent accounts Of disappointing shipments
from Argentina and poor prospects in
Russia. Cotton has risen sixteenth, not
withstanding the strike in eastern mills
and the official report of q dscrease of 1).5
per cent in British exports of cotton goods
last year.
The cotton manufacture is more diff
cult than any other not merely because
prices do not much improve, nor as yet
the demand for goods though both are
helped by closing of many mills, but large
ly because the manufacturers and work.
ers have considered too little the rapidly
growing production in the Eouth. OF late
also the export demand for goods has been
restricted, though much less than the de-
1nand for British goods. The woolen
manufacture is doing we'll fine wcrsted
goods having opened at an advance OF 20
per cent over last year and the large mills
are constantly buying wool, even at our
rent high prices, which implies great
confidence in the future, presumably
based on larger orders than are publicly
reported. Such purchases of wool have
been frequent of late, even by mills sup
posed to be supplied far ahead, and one
Providence mill appears to have taken
800, 900 pounds worsted wool at Wheeling
this week.
Sales at three chief markets, have been
S,OS1 100 pounds and for four weeks 3d.
421 ,070 of which 81 1857, ,720 were domestic
against SO, SAT 900 last year, of which 23,-
397. 800 were domestic.
Shipments of boots and shoes in Janu-
ary have been 367, ,375 cases, 10 per cent
larger than last year, nearly IL per cent
larger than in 1895 and 42 per cent larger
than in 1892. While all accounts make
new orders small the shops are not only
putting out quantities beyond all prece-
dent, but are also buying leather in greae
quantities for future use. AS nobody can
be found who has paid higher prices than
those quoted for boots and shoes, 1t is in
ferred that large future operations are
based on such quotations. Leather Is
higher for glove grain and buff. and hides
slightly higher at Chicago.
The iron manufacture is getting larger
ordars for finished products, which crowd
many works almost beyond their capacity,
although some others are still in the
market and keeping prices down.
Failures for the week have been 342 in
the,United States against 331 lsst year
and 81 in Canada against 81 last year.