Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-11-12
BUSINESS EXCEPTIONALLY GOOD.
DESPITE THE ELECTION.
BIG INCREASE IN EXPORTS
BANK CLEARINGS AND RAILROAD
EARNINGS HEAVY.
Foreign Demand for Man.
ufactured Iron and SteeI-WoOi
shows No Improvement. but
Cotton Goods business
Is Looking Up.

NEW YORK. Nov. n.-R. CT. Dun < Co.'S.
Weekly Review OF Trade will saw ;o-mor-
row:
me country has safely passed the trial
Oh OH year elections. Before this cleo
'oh' everything except political uncertain
Ties favored business enlargement. The
volume of trade has been the greatest ever
known i'll October, and the greatest ever
known in any month. except December,
los2. The record of November thus far
SHOWS clearings lG.4 per cent larger than
las, year and 80 per cent larger than in
lss2. The railroad earnings in October
nave been % per cent larger than last
year and 8 per cent larger than in 1892
Foreign trade shows an increase of ~ per
cent in October in exports, with IS per
cent In exports from New York last week.
While imports showed a gain of only -
per cent in October and credits against
foreign bankers were pIling UP at an in
convenient rate. There was absolutely no
anxiety about the currency. and the treas
ury i only too strong. When enormous
exports OF products are considered, ii seems
quite impossible for the country to meet
with serious monetary trouble. especially
In view of past surplus in favor OF this
country.
Wheat declined nearly d cent. but re-
covered all tie loss, with Atlantic exports.
'N" 'H'iud'h. VI o.I-D>.Idj DUsneIG. against
o.2'4.fS last year. and Pacific exports l.
ol6.9sl. against $50 .352 last year. Western
receipts. 9.32i.0i5 bushels for the week.
against I,255-S14 last year, continue TO rem
der the holding back of stocks manifestly
a failure. Corn has but slightly changed
in price. with exports of 2.DG2. III bushels.
against 2,4S4.G1 last year. and an increase
of more than half in Western receipts. Cot
ton remains at the lowest prices on rec
ord. with heavy receipts and without large
milling demand.
Iron production November I was 22s.-
'@' tons weekly, against 2l5, 635 October L,
and a decrease IL seen OF 35.2i1 tons in
stocks rnsold outside the holdings Of the
great steel companies. Indicating an actual
of 1,01a,646 tons in October.
about $50 tons daily greater than the iarg-
est ever shown in any previous month or
record. The export demand is beyond all
dreams. 1900 tons rails for Northern Eu-
rope and 10000 tons plates, besides i.JG
tons billets from Pittsburg alone. with
great quantities of bars, rods, wire and
other finished product. The works are
generally filled with orders, including
many from ocean and lake shipyards. and
many for cars. with reasonable demand for
other products. The minor metals still adj.
vance. largely with the London demand,
bid. for lake. with lead steady at &. 72Is
in spite of heavy Mexican arrivals.
Wool sales for the past week We're only
4.iao.OO pounds at the three chief Eastern
markets, and were secured by concessions
at all markets. as last week. making Is. 23i.-
40 pounds. against 1862. 92 for the same
f f0r w., weeks III last rs ysar = and nd, rs, 600 pounds
are refusing to abate their prices. though
large manufacturer bid below current
market prices. because of their uncertainty
in regard to the demand for wooden goods,
which has somewhat improved and yet not
greatly. 1t Is growing in the minds OF
holders of wool at the East that the sup
ply of foreign and domestic wool on hand
Is much greater than has heretofore been
supposed. Cotton goods are. on the whole,
in better demand. although denims are
slightly lower; and little can be said OF
encouraging character as to the demand
for staple goods of domestic use.
Failures for the week were I'll in the
United States. against 81 last year. and
26 in Canada. against "A last year"
Bradstreets Tomorrow will say:
While the influence of the elections and
OF unfavorable weather has been such as
temporarily to reduce the volume of cur.
rent trade. the innate strength of the gen.
eral trade situation is shown by the very
satisfactory reports received as to bank
! clearinGs. railroad earnings. prices and
As is well known. for some time past the
iron trade has been rather bare of new
business. and the desire to see the cleo
tons ever before new contracts Were made
has been frequently expressed. 1t is. there
fore. a significant feature that this week
more inquiry is to be reported for pig
iron. and. although new orders are moi
as yet numerous. this fact itself is an en-
couraging one. particularly as a further
gain in production during October is re.
| ported. In the steel trade. there is rather
| more anxiety for new business. and some
price shading to secure 1t is reported. The
| mainstay of the allied industries at pres
ent is undoubtedly the immense export de-
| mand. which is taxing the available freight
room capacity to accommodate. and. with
the strength abroad. Is likely to furnish a
| needful outlet the coming winter.
The steel rail combination is still in
| process of arrangement. a joint selling
agency is outlined and reports are even
heard of 800 per ton having been fixed as
the price for 1899. simultaneously comes
| the report again of the completion of the
| tin plate combination. which is expected
70 control practically the entire output of
the country.
THE cereal markets nave been quite
steadily held. notwithstanding the sibsi-
dence OF the war talk and less active for
eign demand. pointing to the strength of
the statistical position Of most grains. Spot
| cotton as been unchanged on good domestic
and foreign demand. but quotations of
futures have been affected rather unfavor-
ably by the growing belief in a maximum
Weld. Government estimates pointing 10 "A
WELD LOCO. 600 below last years outturn are
practically ignored. The sugar war gees
merrily on since an independent refinery
has started. and the margin between raw
and refined is now only Al cent. against
n margin before the fight began of nearly
90 cant