Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-03
BIG BUSINESS YEAR.
MANY FAVORABLE AND FEW de-
PRESSING FEATURES.
VERY LARGE ORDERS PLACED.
This Particularly the Case I'm the
stcei-Raii MarLet-Foreign Demand
couraging-Cotton Higher.

TOT foou PRODUCTS Continues En-
couraging-Cotton Higher.
NEW YORK, December 2.--Bradstreets
tomorrow viii says: The business world
enters on the closing month OF tn
year with 50 many favorable and so few
depressing features in sight as to leave
little doubt that the year 1898, as a whole
must hereafter furnish the basis for es
Inmates when comparisons OF large bus
ness are 10 be made. Nearly all OBJ
tainable statistics and reports as to tn
volume of business point TO the present
year having heavily exceeded any forms.
year in the amount of business done, ana
the comparisons as regards prices are no,
so favorable as in earlier years-notab!y.
1892 and 1890, when quotations OF most
staples were considerably higher. str
the expansion in trade, due to Increase
population and enlarged foreign deman.
for our products, has resulted in an az
gregate volume Of business done con
siderably in excess of any former year.
BIG ORDERS FOR RAILS.
In the general business world the lead
ing event of the week has undoubtedh
been the placing Of very large orders, es
timated at between 100000 and 100000 tons
for steel rails, more than one quarter
OF the entire country's annual produc-
ton, at prices which. IL not entirely sat
isiactory TO the competing rail-mills, are
encouraging, because they indicate that
no check caused by combination OF in
terosts Will be administered 10 our grow
ing export trade which business coupled
with the possible demand next year for
structural steel for building purposes IS
| likely TO play most important part IN
| the government of prices Of steel products
generally.
Nominal prices Of steel rails show
! little change from those ruling some time
ago. but quotations for Bessemer iron
and steel billets reflect the stimulating
! influence OF the removal of the uncer-
tainty regarding the placing OF this large
volume Of rail business.
FOREIGN DEMAND CONTINUES.
Foreign demand for our food products
| has continued an encouraging feature of
| the cereal situation, and wheat prices
| particularly, are a little lower on the
| week, Notwithstanding very heavy farm
/ ers' deliveries and increasing domestic
/ stocks. Exports this week are the largest
| ever reported, rejecting partly the mate
/ rializing of early reported business, and
/ partly increased foreign buying at con-
! cessions earlier in the week. Corn and
| oats appear to have temporarily parted
! company from wheat. and are higher Oh
| the week, on improved speculative buy
/ ing and enlarged export trade. The ocean
! freight situation is slightly easier and
! the supply Of tonnage shows some en-
! largement. The price situation, generally,
! is an encouraging one, and advances out
! number declines.
| The early arrival of winter weather In
| the South has tended to make smaller
| cotton crop estimates more popular, and
| enlarged speculative and spot purchases
| have advanced prices for this staple.
COAL
Anthracite coal has been marked up in
| some markets, largely, owing TO cold
| weather but there are as yet few new
/ developments in the direction Of control
/ of output. Tin and copper are again ac-
| tive, speculatively, and tin-plates reflect
! the formal launching of the new com
| bination in slightly higher quotations.
/ The boot and shoe situation has been
! improved by the severe wea ther largely
experienced, as has the outlook for rubber
/ goods. Leather is steadier ana hides are
/ higher, an unusual feature at this time
/ Of the year. The recent advance in aw
/ sugar appears TO have eliminated this
/ week, and a slight reaction is shown on
reports that beet sugar imports from
/ Europe are likely 10 heavily increase.
| Refined is firm. the November business
| having been very heavy.
LUMBER.
! The advent Of winter weather has tend
ed TO reduce the demand for building lum-
! ber which in some markets, particularly
| be TTa he
mer because OF the inactivity IN building
! \ rather better tone is, however, report
| ed and the opening of the New Year is
| awaited" with confidence. Recent advances
| in prices Of pine and spruce lumber are
/ well maintained, stocks in dealers hands
are not at all heavy, and the advices
both from the yellow-pine and cypress
producing sections of the South, and the
| white-pine markets of the North and
! Northwest. are that a heavy output has
/ been, as a rule, satisfactorily handled
! Tho hardwood situation maintains all OF
| the strength previously noted. The do
nestle woodworking demand is Of good
/ volume, while export business is steadily
/ increasing. and prices, as whole, ere
| considerably higher than they were at the
opening of the year.
HOLIDAY TRADE GOOD.
The general jobbing trade has been
rather smaller, as usual at Shis time OF
year. and severe storms in the East have
hurt distribution, but the demand for holi-
| day goods is Of an encouraging volume,
and promises well.
Business failures are Of no small vol
ume. numbering 2l1 for the week against
| 1S2 last week, $50 in 1897, $50 in 1896, Sl5 in
1895. and S22 in 1894.
GRAIN EXPORTS.
Wheat. including flour. shipments, for
the week aggregate 74SS959 bushels,
AGAINST 5.S2i. 726 bushels last week: 6,499,96O
bushels in the corresponding week OF 1897;
2. 65S 100 bushels i'm 1896; 3l56,SZS bushels in
1895. and SOL $50 bushels In 1894.
Since July 1st. this year, the exports
Of wheat aggregate 96,l9S.l2 bushels
against lO7, $50 bushels last wear.
Corn exports for the week aggregate A.
G23 9SS bushels, against 3,99S,si6 bushels last
week ASSOC bushels in 1897, for the cor
responding week; 176S,lo2 bushels IN 1895,
S5I,00l bushels in 1885, and 27l,4S4 bushels
in 1894.
Since July 1st, this year, corn exports
aggregate e4637.753 bushels. against Gll26,-
OIL bushels during the same period year
ago.
LEE CAMPS MEETING.