The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-01
BRADS TEET AND DUN
otaI of Trade Larger Than
Since 1892
FOOD AND WOOL HIGHER
BUT COTTON AND COTTON
GOODS WE'RE LOWER.
BANK CLtARANCES GIVE A GOOD SIGN.
There was Decrease # 1000 Failures, OF
10 per Cecnt, as Compared with 1896
december Grain Shipments
break a FIVE Years Record.
break a FIVE Years Record.


New York, Dee. 31.-R. G. Dun and
Company's weekly review of trade will
say in it's issue tomorrow:
Failures for the year which closed last
Z tlt have been smaller in total liabili-
ties than in any other year since 1892,
in number smaller than in any year ex-
cept in 1895, and in average liabilities
per failure smaller than in any otnerI
year during TIE last 23, except four.
The aggregate OF all failures, commercial
and banking, was $1S0,600,000 of which
| Sz5,S00,00O was in banking. In 1850
commercial failures the amount of lia-
bilities was $154, 100000, of which $780,
000,OO0 was in manufacturing and S73,-
100000 in trading, with 81, 100000 in
brokerage and other commercial lines
The average of liabilities per failure
was only $11,5S9 and in 1892 only H.
OPS but only three years in the past
twenty three were rivals, 1888 with $11,-
800, 1886 with $11 ,651, and 1885 with
SHOTS.
A new year opens with conditions rad
ically d.Aerent from those which prevail
ed a year ago. Great financial distrust
ter whole year of entire freedom from
disturbance or alarm, in which the coun-
try has paid heavy foreign Indebtedness,
taken and paid many millions for stocks
sent from abroad, and accumulated cred
its against other countries represented
by merchandise balances more than
$780, 100000 On dts favor for the past
Eve months, with deferred exchanges
for more than $20,000,000 held by New
York banks alone, while the great in
dustries have been pushing their way
into foreign markets with unprecedent-
ed success, the monetary situation is no
longer a matter of anxiety. More than
half a million men in a few States, ac-
cording to official reports are employed
now who We're idle a year ago, and the
general advance in wages for those EN-
ployed has gone far to restore the rates
prevailing before the panic. The volume
of business through clearing houses, for
the week 14.2 per cent larger than in
1892, has for the month been 0.3 per
cent larger than in that year, and in
many industries and branches of busi-
ness the later months of this year have
surpassed all records.
Ilhe iron industry has been greatly en-
oouraged by increased demand during
the past few weeks and while the slight
improvement in pig iron at Pittsburgl
has been maintained, Notwithstanding
the greatest output ever known, the new
contracts for finished products have been
unusual for the season. Minor metals
have been rather weak, with tin at 1876
cents, and copper at 1887, in spite of
large exports, white lead is quoted att
3.1232 cents, and spelter at 3.S5. The
best Bessemer full weight tin plates are
selling at $500, against S4.10 for fer
eign. No change in prices of coke ap-
pears, though the shipments were the |
largest for any week this year.
The cotton industry is halted by the |
question of wages, although a general
reduction now seems probable. The |
manufacturers have been buying large
IL of material for worsted goods and |
their purchases have stimulated buying
by wool manufacturers so that the wool |
markets are stronger, though without
changes in quotations.
After the great excitement at Chicago.
wheat still goes out of the country as
largely as before, Atlantic ports $780,
7S3 bushels, flour included against l.
542,540 last year, and from Pacific
ports i, ,625 bushels and in four
weeks the Atlantic exports, -four includ-
Gu, nave BcSl -DuSQeIS against
S,500,1 last year. Heavy western re-
ceipts are only rehecting temporary con-
ditions in the Chicago market. But
extraordinary exports of corn, 14,404.-
905 bushels against 9,444, 1853 bushels in
the four weeks last year, shows Alow sore
ly foreign markets are pushed by the
increasing demand for bread-stuffs.
Wheat has declined e of cent with
the Chicago market and corn has mean
while advanced p of a cent. The cot
ton movement continues remarkably
heavy, and yet the slight advance last
week is maintained. The movement to
date, although more than seven million
bales have come into sight, scarcely sup
ports the largest current estimates.
Failures for the week have been 395
in the United States. against 439 lastI
year and 81 in Canada, against 80 last
year.
BRADSTREET'S REVIEW.
New York, Dec. 31.-Bradstreet's of
o-morrow will say: [
Holiday quiet and stock-taling close y
! year which, while not fully realizing
he most sanguine expectations, certain j
Y contained much that was gratifyIng9 a
md more that is full of promise for Ehe d
ear 1898. Following a series Of ydarsf
# alternate panic stagnation and saw il
nd even painful lreyival, 1897 presentAl s.
. large volume Sof business done as IN /,
whole al prices (which, while not alb- a
ether satisfactory, resulted in a tofal ii