New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-10

any year the course OF the market proves tndt
the consumption was still greater, as unsoid
stocks which were more than one hundred thou-
sand tons smaller December than at the emo OF
last year, have further decreased. Prices nave
been steady for three weeks in spite OF the enor-
nous consumption. and the tone OF the market
grows stronger with satisfactory new business
coming forward, much more than Is usuai during
the first week OF a year. An arrangement be-
tween Eastern producers OF steel beams has adj
yanced the price five cents per hundred pounds.
and reports are that the wire combination VIII
soon be perfected New orders reported during
the last week include steel for two vessels OF
5000 tons each at Cramps yard. several large
buildings and bridges at the West. with re-
markabe volume OF trade in bars and In mate
rial for railway cars and some large TRANSACTIONS
in hoops at this city In tin the only news OF I'M
nortance IL that the visible supply IL smaller
bv 900 tons than a year ago, and In copper
exports OF $4,000 tons for the year have not
prevented a decrease Of the European visible
supply to 81 600 tons. In other countries as wen
as In this the consumption Of copper In electrician
DEVELOPMENTS surpasses expectations. the an
thracite coal output in 1897 Is reckoned az 4i'-
100000 tons and leaves n considerable quantty
unsod
After exports Of wheat averaging almost ex-
actly 2OO0000O bushels per month TOT SIX
months, -four included, besides over o-'lJo'"'V
bushels OF corn. II Is not surprising that 'he
first week OF 1898 shows very heavy move
ment, though 10 per cent larger than year
ago. But the decline in price after the close OF
December speculation at Chicago does not indi-
cate any cessation in foreign requirements. ana
DISPATCHES state that a fleet OF vessels Is at Bal
timore, or on the way thither TO take wheat for
which extremely low rail- rates from the west
have been made, while about ID.VD busheis
was exported last week from Pacihc ports
Ues.ern receipts continue remarkably heavy.
after reaching 16O329.S27 bushels In SIX
months. Corn declined but slightly, and the
Welding OF wheat on Tuesday and Wednesday
has been followed by rather stronger market.
The stock market did not break the record
but It's sales OF SOC 7o4 shares were the more
Instructive because only 233O3O shares OF Sugar
and Cas- were included and 22S605 Of two ele-
,,a,od rouwev cornpanies. against 5S1.500 shares
OF old railway ana telegraph stocks. and 'I3'Vio
sb,res Of 1913 other companies. The character
Of the demand is suggested, TOO. by rise OF
~ IN Ney-York New-IIaven and Hartford, IN
Lake Shore. 4la in New-York Central, over in
IlI,no,s Central. over in Pennsylvania. Lacka-
wanna. Delaware and Hudson. Rock Island ana
Northern Pacific preferred, and the sixty most
active stocks averaged 81 cents per share ad-
vance while the Trust stocks rose 81 % per
share. There is considerable genuine buying Tor
investment with a growing belief that the
progress OF business will make most securities
worth holding Railway earnings reported ior
tho last week Of December showed an increase
Of e - per cent over those OF the same week
last year.
Foreign trade gains with heavy imports OF
sugar. and the value at NewYork last week
was s9877.336. against 50, 12s2OO last year.
This makes customs receipts for eight days or
January s3612 162. against s301l04l In the
same DAYS OF December The final report OF
failures for 1897 shows that only one year, lo9z'
has ever yielded a smaller average OF COM
mercial liabilities per failure, while In sma!lness
81 average liabilities the fourth quarter or every
other year was surpassed by the one just
ended az the third quarter also surpassed every
other third quarter The report by branches OF
business given by "Duns Review" shows re-
markably low averages for December, and
more healthy state Of commercial Indebtedness
in nearly all the branches specified, but espe-
c,allv in the uncassfed manufacturing and
trading failures. than has appeared In many
previous years.