The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-12-24
BIGGEST YEARS BUSINESS.
ENORMOUS TRANSACTIONS ~ ALL
BRANCHES OF TRADE.

europe Owes Us the Nice Little Bal
anee OF S75,O0O.OO0 on the Months
Exchanges-StOry of the Iron Man
ufacturers Read Like A Dream.
Prices Were Lower Than in 1892,
Indicating an Enormously In
creased Volume OF Trade.
New York. Dec. PR. C. Dun & Co. S
weekly Review of Trade viii say in to-
morrow's issue:
lt is a year beyond parallel, and goes
to lis close with the biggest volume of
business ever seen. Enormous transact
lions az The Stock Exchange make some
difference and also heavy railroad earn
ings; but when all the transportation and
speculative interests are eliminated there
is sin much larger business than an
any other month of the year.
Last year the exports were in volume
greater than in any previous month In
the history of the country, but this year
the three weeks report shows an increase
of % per cent against per cent in i'm
ports. which would Indicate much more
than s70.oO00OO excess of exports this
month.
The payments through clearing houses
have been for the week 26.5 per cent.
greater than last year, and 12.4 per cent.
greater than in 1892, and for the month IFS
per cent. larger than in 1892. Until now no
greater volume of business has ever been
done in the history of this country than
in the closing month of this year.
Good wheat shipments.
Shipments of wheat have been 3,2s5,704
bushels -four included, at Atlantic ports,
against S,6SS. S21 last year, although Wes-
tern receipts for three weeks have been
25.Css,5S1 bushels, against 1OS9,S29 last
year, a fact which the believers in small
crop may well consider.
From Pacific ports the shipments have
been for the week 1316,O19 bushels, against
$50. 600 bushels last year. Considering the
enormous exports from July to date, ex-
ceeding last years, one can only wonder
that the outgo this year has been so large
and the price has risen during the week
a cent and a half.
Corn exports also have been 3,S24S36
bushels, against 4,5406l3 last year, and
for the month thus far n,0l2,13S, against
1856, 4O7 last year. The price has advanc-
eign demand IS astonishing.
If the cotton manufactures takes
leading place this year, it is not merely
because cotton is an eighth lower than
year ago, nor because prospects for buy
ers are also good.
The manufacture has been much expand
ed by increased demand, so that prices Of
nearly all the goods quoted in our report
have advanced more or less; and there is
a feeling that with unreasonable accumu-
Iation of print cloths out of the way, there
is a brighter prospect for all goods. Sales
of wool have been large, q, 1866, 100 pounds,
against % 1920 pounds last year, and 81
$50 200 pounds In the same weeks of 1892,
with small as well as large manufacturers
buying very freely, which indicates gem
cral improvement in the demand for goods,
although not enough as yet to lift prices.
Dream In Iron.
The story of the iron manufacture is like
a dream With 5000 tons Bessemer pig
sold at Pittsburg for $1,000. and grey for
age at 80 40, and Chicago sales limited only
by the capacity of the works, and eastern
sales so numerous and SO large as to rise
the price p cents, there is a demand for
finished products which includes at Phila-
deiphIa 1000 tons of plates for export TO
South America; 5000 tons at Chicago where
by the Maryland Steel Company for Asiatic
Russia, 900 tons for Australia, against
British bids at Pittshurg and about 10000
tons domestic at the East, 5000 tons struc-
tural work at Chicago and Pittsburg, and
5000 tons for car builders at Chicago, ali
the works there being crowded, with heavy
buying of sheets and wire rods, and sharp
competition at the South in cotton ties.
a pending contract for 10000 tons cast
pipe for Yokohama and sales of smaller
quantities ia each class tes numerous to
mention. Prices of iron and steel products
have not materially changed, although the
price is everywhere stronger, and for wire
nails quotations have been advanced to $3.50
at Ptttsburg. But this country is beating
the world IN this industry.
And Prices Lower, Too.
All this business is done with full belief
that The next years demand win be greater
than ever before, and it is creditable, es-
peciaily in the iron and steel business that
so little advance in the prices of finished
products has been made. The range OF
prices is nearly 20 per cent lower than in
1892, indicating an astonishing increase in
the quantity of products exchanged. How
Europe win be able to pay more than $75.-
100000 due on merchandise account for the
month of December, besides the former S
balance due for November and previous
months, is a question which the country
can afford to consider at its leisure and
with comfort.
Failures for the week have been 25S,
against 292 in the United States last year,
and 81 in Canada, against 3S last year.
-s-o-N