The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1898-01-15
FINANCE and TRADE
As Viewed by the Two Leading
Commercial Agencies.
OUTLOOK STILL SATISFACTORY.

Railroad Earnings ForDecemberS Show
n Gratifying Increase over Last
YEARS. Business-wheat Market Lam
guld-Little Speculation.
New York, Jan. 15.-R. G.. Dun & Co.'s
weekly review of trade says: The year
has opened with a very satisfactory
prospect. 1t is all the better that there
is no wild excitement in the speculative
markets, and while stocks advance a
little grain yields little. The payments
through principal clearing houses, not
withstanding a decrease at New York,
owing to less activity in stocks, are 2.6
per cent larger than in 1892 and 10.1 per
cent larger outside New York.
Earnings of all railroads in the United
States reporting for December $43, 1884,,
279, indicate substantially same rate
of increase, exceeding last years by10.5
per cent, and the earnings of 1892 for
the same roads by 1.3 per cent Since
1892 was on the whole the most pros
porous year thus far, comparisons in
dicate, Notwithstanding the lowest
prices ever known, that the volume of
business is larger, and, in spite of some
cutting of rates, the earnings of rail-
roads are larger than in the best year
of past history.
The wheat market has been curiously
languid, yielding a quarter of a cent,
although Atlantic exports amount to
6,0567SS bushels for the two weeks of
January, against 3,9S631 last year. and
Pacific exports for the week have been
1,979,6T6 bushels. Western receipts con-
tinue so heavy that, with the greatest
accumulation of wheat at Chicago ever
known, there is little encouragement
for speculation, and receipts were 5,727,
$50 bushels for the two weeks, against
3,O9S 668 bushels last year.
Corn exports contiue large, though
not equal to last years, amounting to
3,1366S8 bushels, against 4,147 652 BUSH
els for the week last wear, and the
price declined about three-fourths of a
cent. Spot cotton is sixteenth lower
for middling uplands, mainly because
of the stoppage of some mills by diff
Guilty about wages. But nothing is
defitely known about the quantity of
cotton yet coming forward, and one re-
port of creditable character puts the
years yield at 10,57O250 bales, though
results thus far do not quite justify so
large an estimate.
The wooden manufacturers have been
buying wool largely, and for reasons
not publicly explained. 1t is evident
that large orders have been taken by
| the leading mills and at prices which
| they find satisfactory, and the rush of
small mills to buy wool has made most
of the market during the past week,
although sales have declined about 40
per cent, compared with the previous
week But there is decidedly better de-
mand for mems wear goods, and the
makers look forward to a good season.
| The cotton manufacturers, heavily
overstocked by excessive production.
find no increase in demand and no gain
in prices.
Bradstreets' review says: Distribu-
| tive trade remains rather quiet, mild
weather throughout the country tend
| ing to check distribution of winter
goods. Prices generally remain steady
| or tend upward, except for some grades
of iron, and orders for spring trade
where received, are encouraging In
dustrial activity is most manifest at
the west, where the demand for iron is
very large. A feature of the week was
| the placing Of an order by one rail-
road for 100000 tons of steel rails, with
smaller orders aggregating in the neigh
| borhood of $4,000 tons more. Pig iron
| production is now at a unprecedented
rate, the furnace capacity being es-
timated at 100000 tons a month. At
the south manufacturing activity is a
feature, sales of iron being very heavy.