The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-01-29
INCREASE in BUSINESS.
Encouraging Wheat stiIi
on the Advance.

New York, Jan. 2S.-R. q. Dun & Co.'s
Weekly Review of Trade will say in
its issue tomorrow:
The first month of the new year has
brought rather more increase in busi-
ness but less Improvement In prices
than was expected. With payments
through clearing houses 7.S per cent.
larger than in 1892, and probably the
largest ever known in any month; with
railroad earnings 11.2 per cent. larger
than the best of past years, the fact
that prices are very low only shows
mere clearly the increase in quantities
of products sold Nor is there any dis
position to refuse orders. even at pres
ent prices. Indeed, the competition of
manufacturers seeking orders alone
prevents a rise. Most of them have all
they can manage, many working night
and day, and one great steel concern
running on Sunday, but the works not
yet filled with orders are seeking con-
tracts at as low prices as have ever
been made. indicating that even there
are not entirely Improbable. The set
tlement of wages on a 10 per cent ad-
vance April for 200, 900 coal miners of
the central region, with other changes,
will tend toward a larger demand for
products of all kinds though also to-
ward some increase in cost of manu-
facture. Wheat has been conspicuous,
rising five cents for the week, with
51sC. for May options. Western receipts
have been 1O,O09053 bushels in four
weeks. against 6,045.7l2 last year, but
Atlantic exports have been 12,OO3,S2S
bushels in four weeks, against 7,103,674
last year and Pacific exports, without
Tacoma this week 4031 ,5S3 bushels,
against 3454.995 last year. So heavy
an outgo with wheat over a dollar
bushel. and with corn exports for the
four weeks equalling the extraordinary
movement of last year, discloses the
! strength of foreign demand even better
| than current accounts if disappointing
! shipments from Argentine and poor
| prospects in Russia. Cotton has risen
a sixteenth. Notwithstanding the strikes
| in eastern mills and the official report
! of a decrease of 1915 per cent. in Brit
| ish exports of cotton goods last year.
! Receipts still run so far beyond those
| following the largest crop on record
! that estimates once deemed eXtrava-
! CANT are commonly accepted.
| The cotton manufac cture is in more
! difficulty than any other. not merely
| because prices do not much improve,
nor as yet the demand for goods, though
! both are helped by the closing of many
mills, but largely because the manu-
facturero and workers have considered
too little the rapidly growing produc-
| tion at the south. The wooden manu-
facture is doing well, fine worsted goods
! having opened at an advance of 20 per
cent. over last year, and the large mills
are constantly buying WOOL even at
! current high prices, which implies great
confidence in the future, presumably
| based on larger orders than are public
! ly reported. Such purchases of wool
have been frequent of late, and even
| by mills supposed to be supplied far
| ahead, and one Providence mill ap-
pears to have taken 250,000 pounds
worsted well at Wheeling this week.
Sales at three chief markets have been
$3.50, 100 pounds, and for four weeks 30,-
| 42l 07O, Of which 21 3G7, ,720 We're domes-
tic. against Sc, 547 800 last year. of which
23,397, 800 were domestic.
| The iron manufacturer is getting
larger orders for finished goods. which
crowd many works almost beyond their
| capacity, although some others are still
in the market and keeping prices down.
| Pig iron is steady, except that Bes-
| semer at Pittsburg is 10 cents lower
the output last year being officially re-
ported at 9,652,6S0 tons, and the con-
sumption in this country, unsold stocks
considered, 9,625,3S3 tons, against 81
COL ,504 in the largest previous year
which was 1895, and 9,394,392 tons in
1882.
Failures for the week have been 342
in the United States against 33l last
year; "a in Canada against 81 last year.