The record-union., 1898-12-31
HAS BEEN A VERY
PROSPEROUS YEAR,
The Past Twelve Months in the
United States
Has Surpassed All Others In Financial and
Industrial Results.
The Excess of Exports Over I'm
ports Reckoned at Hundreds of
Million Dollars, Resulting in
an Unprecedented Inflow of
Gold to the United States.


Gold to the United States.
NEW YORK, Dec. 30-R G. Dun &
Co.'s Weekly Review of Trade to-
morrow will say:
The year has not only been one of vic
tory, of important increase in territory
and of incalculable expansion Of the in
| fiuence of the United States among
other nations, but has surpassed all
other years in financial and industrial
results.
The center of financial power has
crossed the ocean. After paying debts
Of several hundred millions abroad and
conducting a war to an honorable end,
the country is lending so many millions
in Europe that for the first time banks
abroad look to New York to dictate the
rate of exchange.
Exports have been about 81 $50, ,000,-
900, and the excess over imports about
$617 100000, against 1857, ,000 900 in
1897, and in only two previous years has
the balance risen to three hundred mill
lion. In no past calendar year have
net imports of gold reached $75,000000,
but this year they have been about
S14O,O00,000 November passed all
previous months in value of produce
exports, but December has gone beyond
November
Power in the worlds market comes a
demand for breadstuff and other neces-
saries never before equaled Exports
Of cotton have been over Z, 100000 bales,
about 3,936,000,000, and in no previous
year as much as 100000 bales, or g.
500, 100000 pounds
Exports of breadstuffs have been in
value $2S3,91S,2 294 in eleven months,
and never have been as large in any
other year
Exports of wheat for the year, lacking
day or two, have been 21S 594. .6S6
bushels flour included, slightly exceed
ed only by 225,S65, ,S12 in 1892, and of
corn 200,979,077 bushels, nearly ap-
preached by 1927, $40 in 1897. The
heaviest exports of both grains and
flour in anysprevious year were $1,000
600 bushels smaller, only $50, ,22O, ,513 in
1897.
Though wheat was raised to S1.91 in
May, the highest. quotation with the
highest monthly average for thirty
years, 1923 so that the average for the
first half year was Hill, exceeded
slightly in 1891, but the highest since
1888, the December average has been
only 12 cents, 25 cents below that of
last year, but the years average. 90
cents, the highest since 1881
The triumph in finance has been
largely due to industrial progress. The
output Of pig iron has been about H.
645,000 tons, the greatest yet reached
in any year by 100000 tons and
greater than Great Britain ever reached
by 2,S000 900 tons Yet the consunp-
ton in manufacture has been still larg-
er in spite of net exports of pig. in ten
months 1G3 089 tons.
Exports of iron manufactures in ten
months were about &S7, GA. .53S in value
against imports of $13, ,497. .S17. Prices
shown for the year in the table of COM
parisons have been unusually steady.
varying not five per cent. from the low
est to the highest and for finished pro
ducts not six per cent. Textile indus
tries have been retarded by high nrices
of wool and abnor1nally low prices of
cotton, both deterring purchases. In
three months cotton reached 5.31 cents
the lowest price for fifty years the
. 0S@eNSN S-~Ao CNVI hUOWn Deln0 fol-
lowed by receipts since Sentenher
o1,OVO bales larger than last year. Elk
ports have increased, but not as great
~ reward the close recovery came
with accounts of some destruction hv
storm, and the price reached 5.S7 cents.
giving strong impulse to the manu-
facture, so the takings by Northern
and Southern spinners in the calendar
year have been 1926, 200 bales. a little
greater than any previous crop year
Goods reduced We're reduced in price
i've per cent. to the middle of Novem
Der, but have risen seven per cent. and
closed at the highest point for the year.
In spite Of enormous stocks held. wool
was so lifted that buying both of wool
and of goods was checked early in the
year, but slow decline began in Feb
ruary. Sales have been only 232. .451 =
131 pounds at the three chief markets
SO that the mills have probably used
less than a full years supply. and the
stock of goods was also excessive a
year ago.
Failures in the United States for the
week were 252, and in Canada % a
total of 274, against $50 last week. 292
the preceding week and 416 the corre-
spending week last year. of which 395
We're in the United States and 21 in
Canada. OF failures in the United
States seventy-four have liabilities ex-
ceeding $1,000 and 17S liabilities less
than 5000. For four weeks of De-
cember, total liabilities of firms falling
We're S11, ,697 ,605. against so. $50
last year.
NEW YORK, Dee. 30.-Bradstreet's
tomorrow will say:
Holiday quiet in general demand, sus-
tained activity in industrial lines, par
ticularly iron and steel, exceptionally
large Shipments of good on orders. lib
eral 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 likewise encouraging feature
in most staples.
Wheat, though showing a reaction, is
higher on the week, on large export
clearances, and other cereals are in
sympathy. Pig iron demand grows
and prices for this product and for steel
rails, steel billets, plates and wire rods
are all higher for the week, while the
volume of foreign demand for finished
metal products apparently increases as
the year draws to its close.