The record-union., 1898-12-17

1897, 2,O56,943 bushels in 1895 and g.
554, 1886 bushels in 1894. Since July
lst this year the exports of wheat ag-
gregate 1O9,O43, ,179 bushels, against
lis, 800 097 bushels last year.
Business failures are about normal,
numbering 233 for the week, against
231 last week, 2S3 in this week year
ago, $50 in 1896, 3S5 in 1895 and 329 in
1894. Business failures for the week
in the Dominion of Canada number
thirty-two, against twenty-nine last
week and forty-three in the week a
year ago.
NEW YORK, Dec. 16.-R. G. Dun &
Co.'S Weekly Review of Trade to-
morrow will say:
December is adding a surprise close
to the most surprising year Of Amer1-
can history. November surpassed all
other months of the century in vol
ume of business and production, and
thus far December is doing even bet
ter in payments through clearing
houses, in railroad earnings, in foreign
trade, in output of pig iron, in activity
and strength of securities. But that
is saying great deal, for in all these
and other tests November was far the
tory.
December began with a pig-iron out
put of 235, ,52S tons weekly, against
DDS, $3.50 November 1st, and with stocks
of unsold iron diminished 2S,9SS tons
in November, which indicates a con-
sumption of 1,O24 ,313 tons during the
! month. Not only is the output the
greatest ever known, but it has in
M
developed the greatest monthly record
then ever known-Bessemer pig then
| was selling for S14.75 at Pittsburg, but
until the middle of November sold at
Sl0.10 this year. 1t has since risen
with enormous demand, and sales to
S10.55 there. with gray forge $3.50;
but the Chicago market is also strong,
with sales of 100000 tons, besides %
600 tons of billets, which had risen at
Pittsburg with big transactions to SIG.
With a scarcity of pig-iron feared,
! both East and West, there is as yet
| no rise whatever in finished product,
although the demand is far beyond all
production. Steel rails are quoted at
SIT per ton at the East, although the
Lackawanna Company has taken or
ders for 100000 tons at the West,
both the Pittsburg and Chicago works
being sold far ahead, and bids for 3D.
600 tons for Australia are to be opened
to-day, while Chicago has pending
bid for 100000 tons deliverable in two
years in Asiatic Russia.
In other lines the demand for finished
products is of surprising magnitude,
especially in plates and in sheets.
The wooden industry also comes to
the front with very extensive pur-
chases of wool by large houses and
small, helped by material concessions
! at Boston, so that sales at the three
chief markets have been 1865, 700
pounds, of which 1850 200 were do
mestic, against 15,3O7, 100 last year, of
which 7,443,O0O were domestic.
The exports of wheat continue heavy
from Atlantic ports, flour included.
!, 1872 692 bushels, against 3,5SS, 800 last
year. The output for two weeks was
II, 81, $40 bushels, against 9,4O1, 800
bushels last year AS the wheat out
put in December of last year was close
to the largest on record, the returns
this year show a really surprising
gain While prices have been 3 cents
stronger for cash, the Western receipts
for two weeks of December have been
about 100000 bushels greater than
last year.
Failures for the week have been 261
in the United States, against 800 last
year, and 81 in Canada, against %
last year.
CHICAGO, Dec. 16.-"Iron and Steel
to-morrow will say:
One estimate of the pig-iron sold
here within a week is 10000 tons An
inquiry from the Russian Government
for 10, 200 tons of rails, to be delivered
at Vladivostock within a year. be-
ginning next March, had to be turned
down by the Chicago mills, because
deliveries could not be made.