The Indianapolis journal., 1898-12-24
December a Record Breaker In Gen-
eraI Business, stock Speculation
and Earnings of Railways.
MILLIONS DUE FROM EUROPE
BALANCE OF TRADE IN OUR FAVOR
HAS GROWN ENORMOUSLY.
Increase of 25.7 Per Cent. in BaDlS
CIearings, Indianapolis showing a.
Gain of 16.6-Bradstreet's Review.

NEW YORK, Dec. 23.-R. @. Dun q CO.'S
weekly review of trade will say tomorrow:
This has been a year beyond parallel and
goes to it's close with the biggest volume OF
business ever seen. Enormous transactions
at the Stock Exchange this month make
some differences, and heavy railroad earn
ings, but when all the transporting and spec
ulative interests are eliminated there is still
a much larger business than was done in
any other month in any year. Last year the
exports were, in volume. greater than IN
any previous month in the history of the
country, but this year the three weeks re-
ports show an increase of rs per cents
against 9 per cent. in imports, which would
indicate much more than $70,000,0O0 excess OF
exports this month. The payments through
clearing houses have been for the week 26.5
per cent. greater than last year and 1874 per
cent greater than in 1892, and, for the month";
17.S per cent larger than in 1892 Until now
no greater volume of business has ever been
done in the history of this country than in
the closing month of this year.
Shipments of wheat have been 3.2S5, ,7O4 bug
flour included, at Atlantic ports, against 3,~
69S,S21 last year, although Western receipts
for three weeks have been 250SS.5S1 bus
against 10 300, ,929 last year, fact which the
believers in a small crop may well considers
From Pacific ports the shipments have been
for the week 1,316019 bu, against $4,000 bu
last year Considering the enormous exports
from July 1 to date. exceeding last years.
one can only wonder that the outgo this
year has been so large and the price has
risen during the week a cent and a half
Corn exports also have been 1886 bu,
against 4,540,61S last year, ard for the month
thus far IL 1012 1885, against 1O.S67 407 last year.
The price has advanced about 2asc, but the
continued foreign demand is astonishing.
If the cotton manufacturer takes a leading
place this year 1t is not merely because cot~
ton is an eighth lower than year ago, nor
because prospects for buyers are so good.
The manufacture has been much expanded
by increased demand, so that prices of near
ly all the goods quoted in report have
advanced more or less, and there is feeling
that with unreasonable accumulation oe
print cloths out of the way there is bright-
er prospect for all goods.
Sales of wool have been large, q, ,366 100
pounds against 23.1152O0 pounds last year,
and q, $40 200 pounds in the same weeks oe
1892 with small as we'll as large manufac-
turers buying very freely which indicates
a general Improvement in the demand for
goods, although not enough as yet to lift
prices
"The story of the iron manufacture is
like a dream. With 20 900 tons Bessemer Pig
sold at Pittsburg for 5000, and grey forge
at S9.4O, and Chicago sales limited only by
the capacity of the works and Eastern sales
so numerous and large to raise the
price 25 cents, there is a demand for finished
prt is, which includes, at Philadelphia
A. MS of plates for export to South
A a; 5000 tons at Chicago, where works
oto bx, ~.
Maryland Steel Company for Asiatic Russas
s5,OoO tons for Australia against British bids,
at Pittsburg, and about 10000 tons domestic
at the East; $500 tons structural work at
Chicago and Pittsburg, and 5000 tons for
car builders at Chicago. all the works thera
being crowded. with heavy buying of sheets
and wire rods, and sharp competition at the
South in cotton ties; pending contract foH
2OOOO tons for Yokohama, and smaller sales
in other cases too numerous to mention.
Prices of iron and steel products have not
materially changed, although the tone is
everywhere stronger, and for wire nails
quotations have been advanced to $1.3O at
Pittsburg But this country is beating tha
world In this industry. All this business is
done with full belief that the next years
demand will be greater than ever befores
and it is creditable, especially in the iron
and steel business, that SO little advance In
prices Of finished products has been made.
The range of prices is nearly 20 per cent.
lower than in 1892. indicating an astonishing
increase in the quantity of products ex@
changed How Europe will be able to pay
over SIS 100000 due on merchandise account
for the month of December besides the
enormous balances due for November and
previous months. is a question which the
country can afford to consider at its leisure
and with comfort.
Failures for the week have been 25S.
against 2s2 In the United States last year
and thirty-one in Canada, against thirty~
three last year.