The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-31
BRADSTREEI'S
WEEKLY REVIEW
Holiday Quiet Strong Feature
of Situation.
LIBERAL GRAIN EXPORTS
PIG IRON DEMAND GROWS
PRICE is RISING.
RAILROAD EARNINGS FOR THE YEAR
Ahead of all Previous Yeas. General Level Of
Prices of Stspes and Securities at
Yeas Close Higher Than
for FIVE Weary.
for FIVE YeatY.

for FIVE Weary.
New Yok, Dec. 80 -Bradstreets to-
morrow will say:
Holiday quiet in general demand, sus.
tanned activity in industrial lines, par
ticularly iron and steel. exceptionally
large shipments of goods on orders, lib
eral cereal exports and specially heavy
dealings in speculative markets, are
features calling for notable mention i'll
the closing week of the year Eirmness
in price is likewise an encouraging fea-
ture in most staples. Wheat, though
showing reaction is higher on the week
on large export clearances. aud other
cereals are in sympathy. Pig iron de-
mands grows, the prices for this product
and for steel rails. steel billets. plates
and wire rods are all higher on the week,
while the volume of foreign demand fer
our financial product apparently increases
us the year draws to its conclusion.
Concisely stated, the reports received
as to the years business in all sections
of the country point to an unprecedented
volume of domestic and export trade,
which is reflected in bank clearings that
break the high record of 1892. The gen
eral level of prices of staples and securi-
ties at the close of the year is the high
est point reached for five years past.
Railroad earnings exceed all previous
years and finally there was smaller
number of failures and lower liabilities
than reported in any year for at least
five years past.
These general results in the country at
large have been achieved, too. notwith-
standing the outbreak and conclusion of
a foreign war, and in spite also of UNI
favorable conditions in some industries,
notably textile manufacturing, which
combined with unfayoraDle weather
early in the year and the lowest price
for cotton on record, exercised an unfa-
vorable influence. But the close of the
year finds an Improvement even in those
directions, and returns as to retail trade,
and particularly holiday business, are
strikingly good in all sections. Best re-
ports as to distributive trade naturally
come from the grain growing sections
Of the country. which were the first
to feel an Improvement resulting from
free foreign demand for our cereals. but
indications are not wanting that this inn
provement is gradually percolating
throughout the entire business commu-
nifty, and coupled with unprecedented eX
port trade in manufactured goods and
the fact that we are selling two dollars
worth abroad for every dollars worth
we buy, renders possible the gains re-
ported in distributive trade over 1897,
ranging from 10 per cent to 40 per cent
with likewise good reports from the man
ufacturing centers excepting the textile
industries mentioned The export trade
Of the country for the year, as above
intimated, is the heaviest ever known.
and will probably exceed 81, 250,000,000
in value, thus being nearly double the
imports. Our export trade IN manufac
tured goods, it might be observed. is the
heaviest ever known, and for the first
time in our country's history exceeded
the value of imports of similar goods.
There were II .G3S failures in the Uni
ted States in 1898, involving liabilities
of $141, 137, III. a decrease from 1897 in
number of ILL., per cent and in liabili-
ties of 30 per cent compared with 1895
and 1896 the proportion of decrease
show mis- even larger. and compared with
1893 failures We're fewer by % per cen;
and liabilities by Ga per cent. Decreases
are also shown when compared with
1891, n year of large trade, but of num-
erous and costly failures, but compared
with 1892 there is an increase shown of
10 per cent in number and 30 per cent
i'll liabilities. The tendency Of failures
toward the normal is illustrated by the
fact that the percentage or assets to
liabilities is the smallest reported since
1892, and the annual death ratethat is,
the percentage of traders falling to those
in BUSINESS likewise the smallest re,
ported since the latter year, being only
LOG per cent, against 20 per cent III
i'll 1897, 1.50 per cent in 1893 and ] per
cent in 1892. Unsatisfactory conditions
in textile lines and some large failures
Of banks and other financial concerns
account for the expansion in liabilities
show in those sections, while a larger
number of small failures in Pennsylya-
mia and i'll some of the Eastern States
reflect poor trade early in the year
and dullness growing out Of the war
and bad weather
Cereal exports fittingly close the year
with an exceptionally large weekly to-
tai. Wheat, including flour. shipments
for the week aggregate 6,292.625 bush
els, against J,515,231 bushels last week.
J,395061 bushels in the corresponding
week of 1897. 2.707,793 bushels in
1896. 3,142.57S bushels in 1895 and g..
196,405 bushels in 1894 Since July LIST,
this year, the exports Of wheat aggre-
gate 121 ,52S, 100 bushels, against 1885,
96l,10S bushels last year.
Corn exports for the week aggregate
3,6o9,145 bushels. against HOB 7o
bushels. against 4,103.673 bushels last
week, 2,OS6,S66 bushels in this week a
year ago. 2,742,994 bushels IN 1896. S12.-
AL bushels in 1895 and 1867 300 bush
els III 1894. Since July Ist this year,
corn exports aggregate S0.949, $50 bush
els, against S0,347,32 bushels during
the same period a year ago.