The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-12-31
0URBANNERYEAR INTRADE
CoArMERCRs REMARKABLE STRIDES
DESPITE THE sPhNISH VA

ties Predict n Continuance In 1899 OF tho
Gratifying Conditions-somo Statistics.
This has been a remarkable year in the
American business world. High records of.all
kinds have been broken. and in spite of the
fact that we have had a foreign war on our
hands, 1893 tnkes place In our financial his
tory as a year OF wonderful prosperity. IL
closes with a "boom":that every one expects
will extend far into 1899.
"The year 1893 has not only been one OF VIC
tory. OF important increase In territory and OF
incalculable expansion OF the influence OF the
United states among other nations. but has
surpassed all other years in financial and in
dustrial ~results." says Dun review Of the
year. The centrs Of financial power has
crossed the ocean. After paying debts Of sew
eral hundred millions abroad and conducting
q war to an honorable end, the country is lend-
ing so many millions In Europe that for the
first time banks abroad look to New York TO
dictate the rate OF exchange. Exports have
Deen about 81. 250.000.0 200. and the excess over
imports about $617. 900. 900. against 1857. 0O0.-
600 in 1897. and in only two previous years
has the balance risen TO S3~00.000.000. In no
past calendar year have net imports OF gold
reached S75.000.0 900. but this year they have
been about S140. 000.0O0. November passed
ali previous months in value Of produce ex-
ports over imports. but December has gone
much beyond November.
Power in the worlds markets comes with a
demand for breadstufIs and other necessaries
never before equalled. Exports Of cotton have
been over 100000 bales. about 1886. 100000
pounds, and In no previous year as much as
100000 bales or $500. 900. 900 pounds. Ex-
ports OF breadstufTs have been 10 value $685.
91S. 294 In eleven months. and have never
been as large in any other year. Exports Of
wheat for the year. lacking a day or two. have
been 21s.5 1914. 1886 bushels. flour included,
slightly exceeded only by 225. GOSSIP in 1892.
and OF corn 200.079.077 bushels. only an
preached by lS9.127.570 in 1897. The heavi-
est exports of both grains and flour in any
previous year we're 59.0OU,OQO bushels smaller.
only 300.220,513 in 1897, Though wheat was
with the highest monthly average for, thirty
years. 1898. 50 that the average for the fret
but the, highest since 1883. the December
CENTS Il is the the highest since zee 1851. > "''" 20
The triumph, in finance has been largely
d iEon to 6a in Sssn aboa PF9 Il .Sf5. oo Tf fcG Haf tns s G1 Sig
est yet reached In any year by two million
1ea sb. and d. g glsS5'Iod th ian,. Greet Sst t Bsi tonsu 9Dsr
ton in manufacture has been still larger In
spite of net exports of pig; in ten months 163.-
eleven months 10000 tons. Exports of iron
manufactures in ten months were about SS7.-
ga ,536 in value. against imports OF S13.4o7,-
Of comparisons have been unusually steady.
y yo {he sh net 3 per a Gsn for o66i alshe e5pm pr6 5 3 ,9T eoi
6 pei. cent. The leather industry, has also
gained ~ per cent, in exports in spite, of high
prices of hides. having been reduced In price
higher; boots and shoes have been reduced
ton 81 4'sSi, 40 cases. is3.p00. or ) per cent.
thar in 1892. Textile industries have been
retarded by high prices OF wool and abnormal
ly low prices of cotton. both deterring pur-
Bradstreet's. review says: Briefly stated.
the results, OF the year comprise an unpte-
cedented volume OF domestic and export trade.
bank clearings in excess of the 1892 record.
though rejecting less speculative activity than
passing all records. though restricted and
narrowed by merciless rate cutting: prices of
OF the year. and. indeed. higher than for Ave
years past. Notwithstanding complaints OF
inaIly the smallest lumber and liabilities Of
business failures reported for at least hye
years, These results have occurred In the
Hon. though 1t is probably just to say less hest.
tation in trade and less OF q permanent effect
in this or any, other country's history.
The year has been Il historic, one in for;
Stia Of EXPORT trade isi little less than $3.50
O0O.OOO in value. not only the heaviest IN the
that o: imports. thus indicating that this coun.
try has sold s. worth abroad for every Sl
worth IL bought curing the present year. Inc
was largely In manufactured goods which
have sought a foreign market in excess OF all
coSntry'S marfets: While it Is admitted that
900, is. still ,unliqlidated.. some American
iihGent' oplnion inclines to the belief that the
return OF our own securities has accounted
however. taken from the apparently renewed
buying OF American securities by foreign In
Bank clearinRs. which usually furnish a
above intimeted. the heaviest ever known.
500.0O0.0O0 20 per cent. in excess, Of. last
cent. larger = than in 1874. Which marked low
water in the, country's. trade OF recent years.
S %EloR RfSait ther 10 r Sas ee Farn lnTSsF tRs basis an 1897 IGi
maaS Sh1aa n, clesrlng !. sGpm a Nat psi Stool r,-
N S66.1Vo 81 shares ares I aeainst s6. S5PeU. 90 lu IN 1877 and
s6,603li906 IN isG2: hIthsTtea the lhJjggth est res res:
$$5Gii. o36,tooGyi In isS3.the largest rreyious year"
ures In the year at 1888. SAYS Dun's review:
Failures in the year 1898 have been 12.l92
s!i45 Rsa .ssi. S ssaidis id"Gs!lilss!ss ,5si .m9Dq IL fsa T.
s2de; s1asa5s In Il ls 3 is Si92I i 20f tGis st in 1s"Si
OF SiS.1O5.58O, against $3.50. 700 last year
s 5aiIur sso G.rs ia1i i9 in ls ssmha The and fGsT F9HaSI!
25l In amount. against Sl54. 332,071 last year
and $22e,Q96.n8O in. 1896. Manufacturing
$61 ,S88,943. against STA. 4A3.0O8 last year and
solvent payments Is only $50 against $3.50
last year and $4.37 In 1896. The number OF
failures. 1.06 per cent. of the firms reported In
business. though smaller than in any. other
year since 1892. Is somewhat swelled by the
multitude OF small traders who start without
adequate capital. so that the average liabilities
per failure is smaller than In any other year OF
the twenty-four for which full records exist"
The Weather.