The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-01-15
FINANCE AND TRADE
As Viewed by the Two Leading
- Commercial Agencies.
OUTLOOK STILL SATISFACTORY.
Railroad Earnings ForDecember Show

railroad Earnings ForDecember Show
a Gratifying Increase Over Last
Years Buslness-Wheat Market Lam
guid-LittIe Speculation.
New York, jan 15-R. G. Dun & Co.'s
weekly review of trade says: The year
has opened with very satisfactory
prospect. 1t is all the better that there
is no wild excitement in the speculative
markets, and while stocks advance a
little grain yields little. The payments
through principal clearing houses, not
withstanding decrease at New York,
owing to less activity in stocks, are 2.6
per cent larger than in 1892 and 10.1 per
cent larger outside New York
Earnings OF all railroads in the United
States reporting for December, $43,364,-
279, Indicate substantially the same rate
Of increase. exceeding last years by los
per cent. and the earnings of 1892 for
the same roads by 1.3 per cent. Since
1892 was on the whole the most pros
porous year thus far, comparisons in
dHate, notwithstanding the lowest
prices ever known, that the volume of
business is larger, and, in spite of some
cutting of rates. the earnings of rail-
roads are larger than in the best year
Of past history.
The wheat market has been curiously
languid, yielding quarter of a cent,
although Atlantic exports amount to
6056,7SS bushels for the two weeks of
January, against 3,9S6,317 last year. and
Pacific exports for the week have been
1879. 676 bushels. Western receipts con-
tinue so heavy that, with the greatest
accumulation of wheat at Chicago ever
known, there Is little encouragement
for speculation, and receipts were 5,727,-
$50 bushels for the two weeks, against
3,09S, S68 bushels last year.
Corn exports contiue large, though
not equal to last years, amounting to
S,136,6SS bushels, against 4,147,652 BUSH
els for the week last year, and the
price declined about three fourths of
cent. Spot cotton Is a sixteenth lower
for middling uplands, mainly because
of the stoppage of Some mills by diff
Guilty about wages. But nothing is
defltely known about the quantity Of
cotton yet coming forward, and one re-
folt VI SiShltoDlO taSlCl putS lAiC
years yield at 1O,57O,25O bales, though
results thus far do not quite justify so
large an estimate.
The woolen manufacturers have been
buying wool largely, and for reasons
not publicly explained. 1t Is evident
that large orders have been taken by
the leading mills and at prices which
they find satisfactory, and the rush of
small mills to buy wool has made most
of the market during the past week,
although sales have declined about 40
per cent, compared with the previous
week. But there is decidedly better de-
mand for mems wear goods, and the
makers look forward to a good season.
The cotton manufacturers, heavily
overstocksd by excessive production,
find no increase in demand and no gain
in prices.
Bradstreets' review says: Dstribu-
tive trade remains rather quiet mild
weather throughout the country tend
ing to check distribution of winter
goods. Prices generally remain steady
or tend upward, except for some grades
Of iron, and orders for spring trade,
where received. are encouraging. In
dustrial activity is most manifest at
the west. where the demand for iron is
very i@rge. A feature Of the week wes
the placing Of an order by one rail-
road for 100000 tons of steel rails, with
smaller orders aggregating In the neigh
borhood OF $4,000 tons more. Pig iron
production Is now at a unprecedented
rate. the furnace capacity being es-
timated at 1000,Go0 tons a month. At
the south manufacturing activity is a
feature sales Of iron being very heavy.