The record-union., 1898-12-24

Which Was Greater in Volume
Than Any Previous Month in
the History of the Country.
NEW YORK, Dec DIR. G. Dun &
Co.'S Weekly Review of Trade" VIII
say in to-morroW's issue:
1t is a year beyond parallel, and goes
to it's close with the biggest volume OF
business ever seen. Enormous transac-
tions at the Stock Exchange make some
difference, and so do heavy railroad
earnings; but when all the transporting
and speculative interests are eliminated
there is still a much larger business
than in any other month of any 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 reported show an
increase of % per cent, against 9 per
cent. in imports, which would indicate
much more than S70,OG0O00 excess Of
exports this month.
The payments through clearing houses
have been for the week 26.o per cent
greater than last year, and ia per
cent greater than in 1892, and for the
month us per cent larger than in 1872.
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.
Shipments of wheat have been $3.50, -
7O4 bushels (fiour included) at Atlantic
ports, against 3,69S,321 last year, al
though Western receipts for three
weeks have been 25,OSS, $50 bushels
against 10,30S, ,929 last year-a fact
which the believers in q. small crop may
we'll consider. From Pacific ports the
shipments have been for the week
1,316,019 bushels, against 900, 600 BUSH
els last year. Considering the enormous
exports from July 1st to date, exceeding
last years, and one can only wonder
that the outgo this year has been 80
large, and the price has risen during the
week u cents.
Sales of wool have been large, - 1885,
100 pounds, against %, 115, 200 pounds
last year, and q, $50, 100 in the SANE
week of 1892. with small as We'll as
large manufacturers buying very freeIy,
which indicates a general Improvement
in the demand for goods, although not
enough as yet to lift prices.
The story of the iron manufacturer
is like a dream. With $4,000 tons, Bes-
semer pig sold at Pittsburg for $1,000,
and gray forge at SO 10; and Chicago
sales limited only by the capacity of the
works. and Eastern sales so numerous
and so large as to raise the price %
cents, there is a demand for finished
products, which includes at Philadei-
phia 1000 tons of plates for export to
South America, $4,000 tons of steel rails
by the Maryland Steel Company for
Asiatic Russia, $4,000 tons for Aus
tralia, against British bids at Pittsburs
and about 10000 domestic at the East
$500 tons structural at Chicago and
Pittsburg, and 5000 tons for car build
ing at Chicago, all the work there be-
ing crowded with heavy orders Prices
of iron and steel products have not
materially changed, but this country is
beating the world in this industry All
this business is done with full belief
that the next years demand will be
greater than ever before, and it is cred
liable, especially in the iron and steel
business, that so little advance in prices
of finished products has been made. The
range of prices is nearly 20 per cent
ishing increase of quantity of products
exchanged. How Europe will be able
to pay more than S15,000,000 due on
merchandise on account for the month
of December, besides the enormous bal
ances due for November and previous
months, is a question which the country
can afford to consider at its leisure, and
with comfort.
Al. ~ =
against 292 in the United States last
year, and 81 in Canada, against 33 last
year.
NEW YORK, Dec. 23. - Brad
streets" tomorrow will say:
Current business conditions furnish
some sharp contrasts to those usually
looked for or reported at this season Of
the year. 1t is, of course, reasonable
to look for exceptional activity in holi-
day and retail trade generally at this
date, and in this respect the most san
guine expectations appear to have been
realized. Probably never before at this
date, however, was the course of gem
eral business so animated as it is at
present Speculative activity is no
longer confined to the stock market,
but has widened to include wheat and
corn among the cereals, and copper
among the metals, while the rush Of
business in iron and steel seems little.
if any, abated and some lines, notably
cotton goods and raw wool, are dis
playing an activity and strength which
would have been been welcomed al any
time for a year past. Prices of securi-
ties and staples alike furnish examples
of aggressive strength which are 50
numerous as to deserve special men
ton.
In the iron trade no signs of tagging
interest are to be discerned, but rather
more pronounced activity in new di-
rections. The feature of the week has
undoubtedly been the reported placing
of an order for S0,000 tons of steel
rails with an Eastern rail mill to go
to Siberia All the strength of prices
is maintained and in some lines. nota-
bly, billets wire rods, plates and bars,
further advances are to be reported.
In many lines the country's production
seems to be heavily sold ahead. and
the utmost confidence is expressed as
to present values being maintained or
still further increased. In other metals,
too, a sympathetic rise is to be dis