The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-24
WITHOUT A PARALLEL
Year Closes With the Biggest
Business Ever Known.
IRON TRADE INDUSTRIOUS
Stocks Fool the Prophets by
a Continued Boom.

New York, Dec. 23.-R. G. Dun & Co.'S
Weekly Review of Trade will say in to-
morrow's issue:
1t is year beyond parallel and goes to
its close with the biggest volume OF bust
ness ever seen. Enormous transactions at
the stock exchange makes some difference
and havy railroad earnings, but when all
the transporting and speculative interests
are eliminated there is still much larger
business than in any other month Of any
year. Last year the exports were in volume
greater than in any previous month in the
history of the country, but this year the
three weeks report shows an increase OF
% per cent, against per cent in imports,
which would indicate much more than SO,-
900 excess of exports this month.
The payments through clearing houses
have been for the week 26.5 per cent great
er than last year and ia per cent greater
than in 1892 and for the month us per cent
larger than in 1892. Until now no greater
volume of bushes shas ever been done in
the history of this country than in the
closing month of this year.
Shipments of wheat have been 3,2S5, 704
bushes flour included) at Atlantic ports,
against $685. 81 last year. although west
ern receipts for three weeks have been Is
0SS.5S1 bushels, against 10.20S929 last year,
a fact which the believers in a small crop
may well consider. From Pacific ports the
shipments have been for the week 1.316-
019 bushels, against 956, 900 bushels last
year. Considering the enormous exports
from July to date, exceeding last years,
on can only wonder that the outgo this
year has been so large and the price has
risen during the week cent and half
Corn exports also have been 1884 $50
bushels, against ,613 last year and for
the month thus far II Oh 49, against TO-
SGT, 4O7 last year. The price has advanced
about 22s cents but the continued foreign
demand is astonishing
If the cotton manufacturer takes lead
ing place this year it is not merely because
cotton is a neighth cent lower than a year
ago. nor because prospects for buyers are
so good. The manufacture has been much
expanded by increased demand. so that
prices of nearly all the goods quoted in our
report have advanced more or less, and
there is a feeling that with unreasonable
accumulation of print cloths out of the
way, there is a brighter prospect for all
COOS. Bales of wool have been large. a.
$780, 100 pounds, against % 1920 pounds last
year and 1854, 300 pounds in the same week
of 1892, with small as well as large manu-
facturers buying very freely, which indi-
Gates a general improvement in the de-
mand for goods, although not enough as
yet to lift prices.
The story of the iron manufacture is like
a dream. With 5000 tons bessemer pig
sold at Pittsburg for 5000 and grey forge
at $40 and Chicago sales limited only by
the capacity of the works and eastern
sales so numerous and so large as TO raise
the price p cents, there is a demand for
finished products whirh includes at Phila-
delphia 1900 tons of plates for export TO
South America, 5000 tons at Chicago, where
works are crowded $4,000 tons steel rails
by the Maryland Steel company for Asiatic
Russia, $500 tons for Australia. against
British bids. at Pittsburg, and about 900
tons domestic at the east, $500 tons struc-
tural work at Chicago and Pittsburg and
5000 tons for car builders at Chicago. all
the works there being crowded. with heavy
buying of sheets and wire rods and sharp
competition at the south in cotton ties. a
pending contract for 20 600 tons cast-Dioe
for Yokohama and sales of small guam
titles in each class too numerous 10 men
ton. Prices OF iron and steel products
have not materially changed. although the
tone is everywhere stronger. and FOR wire
nails. quotations have been advanced to
5000 at Pittsburg. But this country is
beating the world in this industry.
All this business is done with full belief
that the next years demand will be great
er than ever before and il is creditabie.
especially in the iron and steel business
that so little advance in prices Of finished
products has been made. The range OF
prices is nearly 2S per cent lower than in
1892. indicating an astonishing increase in
the quantity Of products exchanged. How
Europe viii be able 10 pay more than SO
100000 due on merchandise account for the
month of December. besides the enormous
balances due for November and previou:
months. IS a question which the country
can afford 10 consider at its leisure AID
with comfort.
Failures for the week have been a5S
against 2e2 in the United States last year.
and 3 in Canada, against 80 last year
BRADsTREETs
New York. Dec. 2S-Bradstreet's. tomor-
row. viii say:
Current bushes sconditions furnish some
sharp contrasts to those usually looked for
or reported at this season OF the year. I;
is, OF course. reasonable 70 look for ex-
ceptional activity in holiday and retail
trade generally at this date and in this
respect the most sanguine expectations ap-
ar to have been realized. Probably never
before AZ this date. however was The
course Of general business so animated as
il is az present. Specultiye activity'fs nc
longer confined TO the stock market. bu,
has widened 10 include wheat and corn
among the cereals and copper among The
metals. while the rush Of business in iron
and steel seems little. If any. abated and
some lines, notably cotton goods and raw
wool are displaying an activity and
strength which would have been welcomed
at any time for a year past. Prices OF
securities and Of stsp,es alike furnish *
amnleS %