The age-herald., 1898-03-05
PRODUCTION OF PIG GREATEST KNOWN Yet There Has Been No Visible Effect on
 Values. THE WEEKS TRADE REVIEWS Record d-BFeakins Bank ClearlnSS and
 Continued Exports. WAR RUMORS AFFECTS MARKETS Cereal Products in Better Prices and Cotton Goods Display Strength = Business
 Failures Show Decrease Over
 Same Period in '97.
WAR RUMORs AFFECTS MARKETS

New York March 4-Bradstreet's to- morrow will say: Nearly all signs point to an unprecedented volume of business done or arranging for at the present time. The aggressive strength of prices, record breaking bank cfearings and continued large exports, particularly of the lower priced cereals, a very heavy volume of business in iron and steel and kindred lines, and generally satisfactory reports as to the volume of spring trade at lead ing distributive centers are among the visible features of trade development.
 Nearly all of the country's cereal pro- ducts are higher in price this week as also some varieties of provisions. Besse- mer pig iron, copper, raw cotton and tin. The further advance in pig iron this week would seem to indicate that the immense 'Fcurrent production is as yet without vissi- ble effect on values. The price of cop per showed an advance of nearly one cent per pound during February.
 shrinkage in Wheat Exports
 New decreases in price are noted, sugar being the most important, while the list of staples steady and unchanged numbers pork, coffee, lead and print cloths. The strength of raw cotton has had an en- couraging effect upon southern trade, which is generally reported good and high
  of corn from southern ports Is addi- tionally favorable feature, while the prac- tical agreement of southern iron producers as to prices, with generally satisfactory collections at most points has imparted a decidedly cheerful tone to advices from that section Trade is larger than usual at the central west.
 Cotton goods display strength, although print cloths of regular widths are some what easier. Ginghams are in peter de- nI hon for pac ct n pr business in woolen goods has been rather disappointing but good demand for mems wear goods for fall delivery is re- ported and the mills are well supplied with orders. Woolen manufacturers are not in the market for raw wool to any extent, but prices are still firm.
 Few Decreases in Prices
 A further shrinkage in wheat exports, but a corresponding enlargement of the shipment of corn and the lower priced cereal is indicated this week. The total exports of wheat, flour included, from the United States and Canada aggregate B. 252 LOGO bushels against 3,722, 900 bushels last week, 2,075,O0O bushels in this week year ago, 2,407,000 bushels in 1896, and 3,2a2OC0 bushels in 1895.
 Corn exports amount to 5,5O4 ,654 bushels, as against S6s2,O0O bushels last Wee'ss-e z7e e'- 255O0O bushels this week .oc eoo aso, GOO hushels- in .1soe aho 49s'ooo pusheis III Business failures in the United States for the week number 232, as against 1S3 for five business days last week, 2b2 in the corresponding week of last year, 2i0 In lo9b and 252 in 1895.
 Business failures in Canada for the week number 27, as against 45 last week. 51 in this week of 1897, 66 in 1896 and 53 in 1895.
 Dun's Review
 New York, March AR. G. Dun & Co.'S weekly review of trade will say tomorrow: Stories of the most reckless sort, dis proved promptly, and many of them before they are told, affected speculation in stocks much last week, but they have not dis turbed the industries and the trade of the country at all. There is a confidence that the authorities doing what Is proper to provide for public defense, and business is moving on with the assurance that 1t will not be disturbed In grain, cotton, meat products and iron, markets have been strong, with gradual increases in the de- mand for manufactured products.
 Failures Smaller
 Failures in February have been smaller than for any other month of the previous ffty-two months, with remarkable decrease in the failures for s100,0O0 and over, though in number and amount the smaller failures x show less change than might Have been ex- pected, indicating that in good times or bad a large proportion is due to causes apart from the general condition or business. lne ratio of defaulted liabilities to payments through clearing houses is but $1.n per $1 1000, lower rate than has appeared in the first quarter of any year except 1880 and 1881, of the past twenty years.
 The best evidence of general improvement is the fact that payments through clearing houses for the past week have been 2S per cent. larger than in 1892 and outside New York, speculative interests, 176 per cent larger. Compared with the last year the gain has been 56.2 per cent. for the week.
 Greatest Ever Known
 Production of pig iron is the greatest ever known.
 Foundry at the east is slightly lower. basic pig having been offered in a sharp competition at about BIO, although south- ern makers in Alabama and Tennessee, excepting two, have agreed upon plan