The star. (Reynoldsville, Pa.) 1892-1946, 1898-12-21
TRADE REVIEW.
Closing Month OF the Year Remarkable for Its
Volume of Business.


r. @. Dun & Co.'S weekly review OF
trade reports as follows for last week:
December Is adding a surprising close
to the most surprising year OF
American history. November sur
passed all other months of the century
in volume of business and production,
and thus far December Is doing even
better in payments through clearing
houses, In railroad earnings. In
foreign tade. in output of pig iron, In
activity and strength of securities.
But that Is saying great deal, for in
all these and ether tests, November
was far the best month of American
financial history.
December began with a pig iron out
put Of 235,52S tons weekly, against 22s,-
s35 November 1st. and with stocks of
unsold iron diminished 2S,9SS tons in
November. which indicates a con-
sumption Of I,02I,sls tons during the
month. Not only is the output the
greatest ever known. but 1t has in
creased 22 1-2 per cent since 1892, when
the greatest monthly record then ever
known was made. and bessemer pig
was then selling for $14 20 at Pittsburg;
but until the middle Of November, sold
at $40 10 this year. 1t has since risen
with enormous demand and sales to
$40 55 there, with gray forge ~ 30, but
the Chicago market Is also strong. with
sales of 100000 tons. besides 26.0o0 tons
billets, which had risen at Pittsburg
with big transactions to $l6.
With scarcity of pig iron feared
both east and west. there Is as yet no
rise whatever In finished products, al
though the demand is far beyond all
product Steel rails are quoted at $l7
per ton at the East. although the
Lackawanna Company has taken or
ders for 100, 900 tons at the West. both
the Pittsburg and Chicago works being
sold far ahead. and bids for $4,000 tons
for Australia are to be opened. while
Chicago has pending a bid for 200,-
900 tons. deliverable in two years in
Asiatic Russia, In other lines the de-
mand for finished products is of the
same surprising magnitude, especially
in plates and in sheets.
The woolen industry also comes to
the front with very extensive pur-
chases of wool by large houses and
small. helped by material concessions
at Boston. so that sales at the three
chief markets have been 1888. 200
pounds, of which 13.s60.200 pounds
were domestic, against 15.307, 100
pounds last year OF which 7443,000
pounds were domestic and 16,50f. 100
pounds in the same week OF 1892. of
which IL. .399, 600 pounds were domestic.
The transactions show a demand fair
ly up to that OF the most prosperous
years heretofore.
The exports OF wheat continue heavy
from Atlantic ports. -four included. s.
4s2.692 bushels. against 3.56S. sos BUSH
els. last year, and from Pacific ports
741, ,9s1 bushels against 1.5z0,612 bushels
last year. SO that for two weeks the
outgo has been 1l.s7l.H0 bushel{
against 3.401, $50 bushels last year. As
the wheat output in December Of last
year was close to the largest on rec
ord. the returns this year show a real
ly surprising gain. While prices have
been &c stronger for cash. the western
receipts for two weeks OF December
have been about 100000 bushels
greater than last year.
The corn movement Is the most as
tonishing feature of the business. the
exports for three weeks having been
1887 1902 bushels, against 6.326.894 BUSH
els last year. and the price has ad-
vanced for the week. Should such
a demand for American corn continue
II would be Of enormous value to the
western farmers.
Failures for the week have been 261
In the United States, against 329 last
year. and u In Canada. sgainst % last
year.