The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-01-04
HopefuI Business
Outlook for 1898


From the Philadelphia Ledger
m BRlGHTENlNG business outlook
I'M is reported from so many portions
ID\ of the country that 1898 pI omises to
U0\ be notably prosperous year. The
encouraging prospect is not report
ed from few localities but it seems
to be widespread and includes many rep
Iesentative centers of commercial activ-
ity. One of the salient features of the
business situation is the fact that trans
portation lines are showing Il recovery
from the depressing conditions which
during the past ten years resulted in the
creation of many receiverShips. The re-
Vival of the business of the carrying
companies is Indicative of the renewal of
trade generally. The Railway Age is au-
thority for the statement that the list of
new railway receiverships in 1897 was sur
prisingly small as compared with the
record of any of the five preceding years
The gross earnings of ia railroads for
the year show an increase over those of
1896 of S2S, 900 900, the increase occurring
during the last six months of the year.
The net earnings make a better exhibit.
The net earnings of 11S roads for the ten
months ending on Nov. ], 1891, revealed
an increase of more than IL per cent. over
the same period in 1896 The more hopeful
situation of this great interest may be
accepted us a trade barometer foresha-
dowing better conditions for our manu-
factures, agriculture and commerce.
o.
From the Chicago Clearing House rep
resenting the colossal transactions of the
West and Northwest, comes the cheerful
intelligence that the clearings for the past
year show handsome gain over those of
1896. The rising tide of Western prosper
ity was noticed in the beginning of Aug
ust last, and the December clearances
were greatly in advance of those of any
month since December, 1852. The trade
done during the last year at the Union
StoCkyards in that city is suggestive of
the improved and improving food-buying
capacity of our people. Prices naturally
increased in sympathy with the rise in
the price of cereals but there was on
encouraging gain in the demand for live
stock. The gain in carloads of stock was
l6O0 over the record for 1896. The stock
handled in 1897 made a close approach to
that handled in 1892
In New England general business has
conspicuously improved according to the
statement of the Boston Clearing House.
The Boston bank clearings for December
show an increase of more than II per
cent. over December, 1896. The bank
clearingS in Baltimore are still more en-
couraging. showing an increase of more
than $4,000, 900 over 1896, and S25, 900 900 IN
excess of the clearngS of 1892. and eX-
Ceptionally prosperous business year in
| that city. 1T is announced that 1898 prom
| ises to be the most prosperous year the
South has had for many years. The
marked expansion of the cotton and
woollen manufactures in this portion of
| the country will contribute greatly to its
development. In st. Louis the bank
| cearings for 1897 broke the yearly record
| The heavy balance of trade in our favor
| is resultant upon the dimensions of our
| export trade. unprecedented in our COM
| mercial history. Much of this enormous
| iy increased export trade has been caused
| by short crops abroad. The foreign de-
| mand for American breadstuffs has in
| ured to the advantage of our Western
| farmers, who have been enabled to cam
| eel large amour. of mortgage indeLte1 4
| ness, and 10 increase their ability to buy
| commodities of all sorts. The increase in
| the available capital in the hands of the
| farming population Of theWest must be
| reflected sooner or later in many indus
tries and enterprises. The financial re-
| Mobilization of the West, the progressive
| Improvement of the transportation busi-
ness, the decided increase of bank clear
ings are substantial and significantly
| hopeful factors of the business situation
| without reference to the possibilities of
| the tariff as a revenue producer, or TO
| changes which may be introduced in our
financial system.