The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-12-31
LODGED IN new YORK.
Center Of Financial Power Has
Crossed the Ocean.

New York. Dec. SIR G. Dun &
Co.'S Weekly Review Of Trade says in
today's issue
The year has not only been one Of
victory. Of important increase in ter
ritory and of incaIculabIe expansion OF
the influence Of the United States
among other nations but has surpassed
all other years in financial and indus
trial results The center of financial
power has crossed the ocean Besides
paying debts OF several hundred mil
lions abroad and conducting a war to
an honorable end. the country is lend
ing so many millions In Europe that for
the first time banks abroad look to
New York to dictate the rate of ex-
change Exports have been about ST.
250.oe0 600 and the excess over imports
about $4,000, COO against 500. 600. 600 in
1897, and in only Two previous years
has the balance risen TO $500. 00O. 600. IN
no past calendar year have net imports
Of gold reached 81, 600 600. but this year
they have been about $40 600 600. No
FeTnber passed all previous months in
value Of produce exports over imports.
but December has gone much beyond
N0vem Der.
Power in the worlds market comes
with demand for bread stuffS and
other necessaries never before eQuaIled-
Exports OF cotton have been over -
10000 bales. about :. 1885,. 600 600 pounds.
and in no previous year as much As
900 bales. or $500. coo. 600 pounds
value. S2s2-S1S.294 in eleven months. and
have never been so large IN any other
year Exports Of wheat for the year
lacking a day or two. have been 218.-
a1+-ee bushels -four included. slightly
exceeded only by 925. SIS. s12 in 1892 and
or corn 200 sss-817 bushels. nearly ap-
preached by 1se.216-5TO in 1897 The
heaviest exports OF both grains and
rour IN any previous year were SO .O00.-
90 bushels smaller. only $50 22O. 513 in
1ss., Though wheat was raised TO $1.s1
n May. the highest quotation with the
nlEnest monthly average for 80 years.
53-23 so that the averag &c for the first
nalt year was STILL exceeded slightly
n 1881 but the highest since 1883. the
Deem Der = average has been &c. 25c be
low that Of last year but the years
average s3c- the highest since 1881
The triumph in finance has been
largely Tue TO Industrial progress The
output Of pig iron has bean about II
$4,000 tons the greatest Yet reached in
any year oy tfNo million tons and
greater than Great Britain ever reach
- py -s9lu coo tons Yet the COnsump-
ton has been still larger in spite Of
~ exports OF pig. in ten months. 163.-
ts+ tons Exports OF iron uanufa ctures
1n rAn months were about So. ga. 53S in
-atle- against imports of $13.497. s17.
Er1ceS SHOWN for the year in the table
q com parsons have been unusually
Sresicil- VARYING not . Der cent from the
lowest 20 the highest and for finished
Frouucts not s per cent Textile indus
NFles nave been retarded by high pri-
- ~ WDSa ana q DnOrrnallT low prices
or cotton both detarriug purchases. IN
three months cotton reached ; 81 cents
the lowest price for 30 years the great
est yield ever known being followed Nv
receipts since Septern ber-S51. 900 bales
larger than last year
Exports have increased. but not SO
greatly Toward the close recovery
came with accounts Of some destruc-
ton by storm and the price reached
~ cents. giving a strong impulse to
t1e manufacture so the takings by
northern and southern spfnners in the
calendar year have been 3 ABS. 200 bales.
2 little greater than il any previous
crop year Goods were reduced in price
Der cent to the middle Of Novem Der.
tlt nave risen per cent and closed at
Ln- nlEnest point for the year In
spite or enormous stocks held. wool
VS. 50 AitteC that buying both Of wool
ana OF goods was checked early in the
ear out 2 slow decline began in Feb
Fuary- Sales have been only go Al. I3I
pounds at the three chief markets. 50
mat the mills have probably used less
t9ah z Iui years supply and the stock
OF GOODS was also excessive a wear ago
Failures in the United States for the
week We're 20 and in Canada % total
90 against 2S9 last week 2e2 the ure-
0edlnE week and as the corresDondfuE
E-eek last year. Of which 395 were in the
United States and q fn Canada Of
failures il The United States "a have