Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-31
GREAT TRADE YEAR.
REPORTS SHOW An UxPaECEDENT-
ED VOLUME or BUSINESS.
EXPORTS HEAVIEST EYER KNOWN.
Bank CIcarings break High Record
of 1S92-Levei or Prices Highest fn
Years-RaiIroad Earnings Exceed
.le.i ss..s
Those of Previous Years.
Those of Previous Year

| NEW YORK. December 30.--Brad-
streets tomorrow will say: Holiday
quiet in general demand, sustained &C
tivfty in industrial lines. particularly
iron and steel. exceptionally largo ship
ments of goods on orders. liberal cereal
exports, and specially heavy dealings In
speculative markets. are features calling
for notable mention in the closing week
OF the year. Firmness IN price Is like
wise an encouraging feature In most
staples Wheat, though showing re-
action, Is higher for the week on large
export clearings, and other cereals are
in sympathy. Pig-iron demand grows,
the prices for this product and for steel
rails, steel billets. plates, and wire rods
are all higher on the week. and the
volume of foreign demand for our finished
products apparently increases as 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 1872. The gene
raj level Of prices Of staples and seeuri-
ties at the close OF the year is the high
est point reached for hvs years past.
Railroad earnings exceed those OF all
previous years, and, finally. there was
a smaller number OF failures and lower
liabilities than have been reported IN
~, 90. Of at
IN SPITE OF WAR.
These general results in the country at
large have been achieved, too, nc with
standing the outbreak and conclusion OF a
foreign war. and N spite, also. OF unfa-
vorable conditione<ln some industries, no.
taby textile manufacturing. which, com
blned with unfavorable weather early In
the year, and the lowest price for cotton
on record, experienced an unfaVorable In
fluence. But the close Of the year nndS
an Improvement even in. those directions,
and returns as to retail trade, and par
ticularly holiday business, are strikingly
good in all sections. The best reports as
to distrlbutive trade naturally come from
the grain-growing sections or the country,
which were the FIRST 10 feel an Improve
ment resulting from free foreign demand
for our cereals, but indications are not
wanting
percoating throughout the entire business
community. and coupled with unprece-
dented export trade in manufactured
goods, and the fact that we are selling 81
worth abroad for every dollars worth we
buy. renders possible the gains reported
in distrbutive trade over 1897, ranging
from 10 to 40 per cent, with similar good
reports from the manufacturing centres,
excepting the textile industries already
mentioned.
The export trade OF the country for the
year. as above intimated, Is the heaviest
ever known, and will probably exceed
81 250, 600 900 in value, thus being nearly
double the imports.
Our export trade in manufactured goods,
1t might be observed, Is the heaviest
ever known, and for the first time In our
history exceeded the value or
imports CT similar goods.
THE FAILURE RECORD.
There were 1l.6?S failures I'm the United
States in 1895 involving Liabilities Of SlH,-
l37, III a decrease from 1897 In number OF
liz per cent and en- liabilities Of 90 per
cent. compared with 1886 and 1885. The
OF decrease shown is even
larger, when comparison Is made win
1894. and compared with 1898, failures were
fewer by % per cent. and liabilities small
shown when compared with 1891. year
# large trade but OF numerous and costly
but compared with 1897, there is
an increase shown OF Il per cent In num-
Der, and 80 per cent. I'm liabilities The
tendency of failures toward the normal =
Illustrated by the fact that the percentage
If assets 10 liabilities is the smallest re-
ported since 1882, and the annual death
Is. the percentage OF trades
ailing TO those IN busiDess-is likewise the
smallest reported since the latter year.
)eing only los per cent. against In in
sG, 1.5 in 1898. and l in 1892
Unsatisfactory conditions In textile lines
md some large failures OF banks and
ther financial concerns account Tor the
expansion in liabilities shown In those
ections, while larger number OF small
allures In Pennsylvania and in some OF
he Eastern States reflect poor trade
arly in the year. and dulness growing
ut OF the war and bad weather.
EXPORTS.
Cereal exports dttingly close the year.
18th an exceptionally large weekly total.
'heat Including -four shipments for
he week aggregated 6.292625 bushels,
gainst 5,5l5,23l last week, 5.3S5.OGl bush
IS in the corresponding week OF 1897,
707 793 bushels in 1896 31G257s bushels
1886, and 1856 40 bushels I'm 1894. Since
lly LIST, this year. the exports Of wheat
segregated 12l.52S,7O9 bushels against
S96l.7OS bushels last year
Corn exports for the week aggregated
j59.T5 bushels. 92aIst il03.f73 bushels
81 week, 1855 6S bushels this week
ear ago. 2,7i2.934 bushels in 1885, S72,ii
Ishels in 1895. and 1875 bushels In
81. Since July lst. this year. corn ex-
'rts aggregated S94263) bushels. against
'F,39o during the same period year
20.