The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-01-01
FINANCE and TRADE.
The Year Opens With an Encour-
aging Outlook for Business. o.
OVER HALF A MILLION WORKERS,
who Wero Idle a Year Ago, Have
Been Added to the Ranks OF tho
Wealth Producers-IIeavy Exports
of Breadstuffs Continue.

Been Added to the Ranks OF tho
Wealth Producers-Heavy Exports
of Breadstuffs Continue.
New York Jan. 1.-R. G.. Dun G. Co.'S
weekly review of trade says: Failures
for the year which closed last night
have been smaller than any other year
since 1892, in number smaller than in
any year except 1895, and in average
liabilities per failure smaller than in
any other year during the last 20 years.
The aggregate of all failures, CONNER
cial and banking, was $3.50, 900, 900. of
which $25, 100000 was in banking. In
1880 commercial failures the amount
of liabilities was S15i 500 900, of which
$60, 600 was in manufacturing and
s73.7OO,0O0 in trading, with 100000 in
brokerage and other commercial lines.
The average of liabilities per failure
was only $11,5S9, and in 1892 only SILL
0sSulinlit only three years in the past
% were rivals--1SSs, with $11,595; 1885,
with $11,65l, and 1885. with 1l.07S.
A now year opens with conditions
radically different from those which
prevailed year ago. Great financial
distrust existed then, but has passed
away. After whole year Of entire
freedom from disturbance or alarm,
in which the country has paid heavy
foreign indebtedness, taken and paid
many millions for stocks sent abroad,
and accumulated credits against other
countries represented by merchandise
balances Of more than s320,00O0 900 in its
fayor for the past five months, with
deferred exchanges for more than $20,-
100000 held by New York banks alone,
while the great Industries have been
pushing their way into foreign mar
kets with unprecedented success, the
monetary situation is no longer a mat
ter Of anxinty.
More than half a million men in a
few states, according to official reports.
are employed now who were idle year
ago and the general advance in wages
for, those employed has gone far to re-
store the rates prevailing before the
panic. The volume of business through
clearing houses, for the week 142 per
cent larger than in 1882, has for the
month been 0.3 per cent larger than
in that year, and in many industries
and branches of business the later
months of this year have surpassed all
records.
The iron industry has been greatly
encouraged Ey increasing demand dur
ing the past few weeks, and while the
slight Improvement in pig iron at Pitts
burg has been maintained, notwitt-
standing the greatest output ever
known, the new contracts for finished
products have been unusual for the
season.
The cotton industry Is halted by the
question Of wages, although a general
reduction now seems probable. The
manufacturers have been buying
largely Of material for worsted goods,
ard their purchases have stimulated
buying by wool manufacturers SO that
the wool markets are stronger, though
without changes in quotations.
After the excitement at Chicaro
wheat still goes out of the country - |
largely as before, from Atlantic ports |
S.5Io,7S3 bushel4 flour included, against |
1542,540 last year, and from Pacific !
ports 1,712G25 bushels, and in four
weeks the Atlantic exports -four in ,
cluded, have been 15,06o,p47 bushels,
against S,5G0,1G1 last year. Heavy west-
ern receipts are only renecting tenn
porary conditions in the Chicago mar
ket. But extraordinary exports of corn,
bushels. against 9,4t4,S5S BUSH
els in the four weeks last year, shows
how sorely foreign markets are pushed
by the increasing demand for bread
stuffs