The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-31
RULER OF THE WORLD
Financial Center Has Crossed
to America.
SUMMARY OF THE YEAR
Shows Trade and Industry
Never Before Approached.
SUMMARY OF THE YEA

New York. Dec. so.-R- c. Dun & Co. :
weekly review Of trade will say in tomor-
rows issue:
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 nancial and industrial results. The
center of financial power has crossed the
ocean. After paying debts of several hun
dred millions abroad and conducting war
10 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 distate the rate of exchange Ex-
ports have been about 81. 30, eco 600 and the
excess over imports about $751;. 900. 900.
against 1851, 600 in 1898. and in only two
previous years has the balance risen TO
100000. In no past calendar year have
net imports Of gold reached $4,000. 900 but
this year they have been about $40. 90. 900
November passed all previous months in
value OF produce exports over imports
but December has gone much beyond No
vember
Power in the worlds markets comes
with demand for breads:uffs and other
necessaries never before equalled. Ex-
ports Of cotton have been over 200. 600
bales. about 5. 1886, 600. 900 pounds, and in no
previous year as much as 700. coo bales. or
$500 900 600 pounds. Exports of brsadstuffs
have been, in value. $3.50. 91S, 2S4. 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 2ls.-
5s4. $50 bushels, -four included, slightly ex-
ceeded only by 22S, 665, SIP in 1892, and of
corn 2o0,979,0T bushels nearly approached
by 1sS.217570 in 1897. The heaviest ex-
ports Of both grains and -four in any pre-
vious year were s., 900, 600 bushels smaller.
only $50. go. 51S in 1897 Though wheat was
raised to $191 in May, the highest quota
ton with the highest monthly average for
thirty years. sl53.23 so that the average
for the first half year was SILL. exceeded
slightly in 1891. but the highest since 1883,
the December average being only ne: 25c
below that OF last year. but the years
average 93c, the highest since 1851
The triumph in finance has been largely
due to industrial progress. The output
Of pig iron has been about 11,645,O 900 tons.
the greatest yet reached in any year by
two million tons and greater than Great
Britain ever reached by 2,S00. 600 tons eYt
the consumption in manufacture has been
still larger in spite of net exports of pig.
in ten months. 163.OS9 tons Exports Of iron
manufactures In ten months were about
sS7, 644.53S in value, against imports OF sl3.-
1851 Prices shown for the year in the
table comparisons have been unusually
steady, varying not five per cent from the
lowest to the highest and for finished prod
ucts not six per cent. Textile industries
have been retarded by high prices of wool
and abnormally low prices OF cotton, both
deterring purchases. in three months cot
ton reached 5.31c. the lowest price for fifty
years. the greatest yield ever known be-
ing followed by receipts since September
$4,000 bales larges than last year
Exports have increased, but not as great
ly. Toward the close recovery came. with
accounts Of some destruction by storm and
the price reached 5.s7c. giving a strong
impulse TO the manufacture. so the TAX
ings by northers and southern spinners in
the calendar year have been 8. 425 200 bales.
a little greater than in any previous crop
year. Goods were reduced in price five
per cent to the middle Of November, but
have risen seven per cent and closed at the
highest point Of the year
In spite Of enormous stocks held, wool
has so lifted that buying both OF wool
and Of goods was checked early In the
year but slow decline began in February
Sales have been only 232. 45l1 pounds at
the ihree chief markets 80 that me mills
have probably used less than fun 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 2. total "a.
against $50 last week, 292 the preceding
week. 41G the corresponding week last
year. OF which So were in the United
States and p in Canada OF failures IN
the United ,Sates "A have liabilities ex-
ceeding SEQ and rs liabilities less than
900. For four weeks Of December, the
total liabilities OF firms falling were ST.
s97. 515. against so 3Ss SIS last year
BRADsTREETs
New York Dec. 30-Bradstreet's tomor-
row will say:
Railroad earnings for 1ssS exceed all pre-
vioue years and there was a smaller num-
Der Of failures and lower liabilities than
reported in any year FOR Al least five
years past. TIE years results in she
country al large have been achieved. too.
Notwithstanding the outbreak and coaclu-
sion q Il foreign war and in spite also
81 unfavorabie conditions IN some indus
tries. notably textile manufacture. which.
combined with uufayorahle weather early
in The year and the lowest price for COT
ton on record. exercised an unfsvorabse
influence But the close Of the year hnds
an improvement even IN those directions.
and returns as - retail trade. and par
ticularly holiday business. are s-r.kl-E.y
good in all sections Best reports a. %
trade naturally come from tHs
grsln-gr0wing sections Of the country.
which were the hrst 70 feel an Improve
meat resulting from free demand f0s our
cereals. bUt Indications are no. ~au.i1z
that THE improvement - gradually perc5-
.s-ing Throughout: The entire business con-
mGuity and coupled SIKH unprecedented
EXPORT trade 81 II nufactures goods and
the fact thai we are selling rwa dollar
worth abroad for every dollars worn ue