Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-02-24
THE BUSINESS SITUATION.

|
| Bradstrect's for Saturday statas that
"fav0ranle TEXTURES dominate this gen
erai business situation an whole, and
| few commercial conditions present
| themselves which can be regarded as
in any degrec disturbing. Chief among
those factors which make for continued
or growing strength in commercial lines
may be mentioned this renewed ten
deucy toward advances in quotations OF
all staple articles, and tue steadiaess
of prices in other lines where increates
arc not at the moment reportaolG,
Perhaps secontl in the list of ausplciuut
features is tho continuance Of mhfkeH
activity in nearly all branches OF she
iron and steel trade, more particularly
10 the Central West, whore II is au-
thoritRtvely reported over 10 per cent
of the pig iron furnace capacity is in
blast Tho volume of distributirs trade
shows an Increase notably in dry goods
ami groceries at sU many widely aepar-
ated points as to warrant the conclusion
that spring trade ia receiving percep.
tiblp impetus. Business failures con
tinun to decrease, aggregating only 260
for tho week against 2I3 last week, 3Zo
in the corresponding week OF 1897, 2lG
in 1896 .i27 in 1888 and go In 1884.
The nricc situation Ia one OF great
strength. Compared with week agn
not one article Of staple use ia reported
lower, although some low grades ct
wool would have TO he shaded ii free
sales we're desired. Tho total earnings
of l9t companies for the year 1897, ag
gregRting s9s3. 600, COO, were per cent
larger than tho year 1896. Net earn
ings on the other hand amounted to
s3O5, 900, 900. gain of H. per cent, or
more than double the proportion of
gain in gross. Bank clearings show the
effect of holiday in five important
States in total aggregating 81,
356, 600, 0OO % per cent smaller than
laHt week. but % per cent larger than
last year. "a per cent larger than this
week two years ago, 63 per cent larger
than in 1898 and 81 per cent larger than
in 1894. Tho tendency toward enlarged
clearings, as compared with ono year
ago, is almost unanimous, only six
cities showing decreases. Cereal ex
ports tend to increase. Exports Of
wheat, -four included, for the week ag
gregate 1892, T44 bushels as against
3, III, 600 bushels last week, 2, 100. 900
bushels last year, 3, lig, 00O bushels In
1896 and ], S0S, 600 bushels in 1895. In
dian corn exports for the week are also
larger, rejecting the turning OF atteu
tion toward the lower priced cereals in
total amounting 10 5,O56, 600 bushels
as compared with 4,50S. 600 bushels last
week, CAL, 600 bushels in this week a
year ago. ., 1926. 900 bushels in 1896 and
592. 600 bushels in 1885,
r. G. Dun & Co. q Review MAJ es
this statement: 1.-THE dreadful disaster
to tine Maine, much rs it has affected
all hearts, has not much affected bust
ness. Only IN the stock market, where
there was selling Wednesday by specn
lators on thin margins, but in no other
speculative market, was an effect felt,
nor IN general business. Nothing has
occurred to check the increase in pro.
duction or in working force. The pro-
poeal of general strike in cotton mills
to support the New Bedford strikers
does not thus far seem likely to meet
much response. An advance OF 10 per
cent in wages by some gogsbic mines
is expected to be general throughout
the lake region, excepting the Mesaba
district, and prices of ore from the
other ranges this year have been adj
ranced 10 per cent, with an allotment
OF G,00O, 600 tons outside Carnegie
mines, which betokens an ouptut much
the largest ever known. Wheat has ad-
huu CUltOu ublu ltb duNHuCb
money markets. are untroubled; mer-
, chandiss exports exceeded Imports in
January by s57, CSC SAG, and in the past
six months by $3.50, 407. 642; the cus.
toms and internal revenue in seventeen
days of February are more than So, 800, :
600 larger than 10 the same part OF
January, and the So, 800 600 imports of
gold in January are already exceeded
this month. Wheat has risen 81, cents,
and exports continue SO heavy that a
material advance ia natural. The iron
output February lat, with reports OF
stocks on hand not held by tile great
steel companies indicates consumption
at least 3, 900 tons per week greater 10
January than the previous maximum
attained in November, 1895. Shin.
|, ments OF boots and phoeH from Boston
in February have been the largest ever
: known at this season, exceeding those
, Of 1896 by ila per cent, and those Of
1882 by IL per cent, and heavy buying
is reported in women's light shoes,
greater than in any previous year.
Gold payments by the Treasury on or
: dinary account are not improbahls, as
its stock of notas is remarkably low.
Net receipts of currency ut New York
were 81, 100, 900, mainly from Eastern
points. Foreign exchange is rendered
| irregular by large transactions on ao-
/ count of products and securities
! shipped, and while deferred bills held
1 as collateral have not increased, dry
goods importers are buying against re-
: mittances later. Leading banks made
60 per cent of their loans on CONNER
cial paper against so per cent last week,
! and while congratulations and syndicate
i operations increased loans on collateral
G by downtown banka, the proportion
loaned on commercial paper by up to WI
! bnnk5 has increased ainca last war y