The herald., 1898-12-03

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Bradstreet's Report
| NEW YORK, Dec. 2-Bradstreet's to-
morrow will say
The, business world enters on the closing
mouth Of the year with SO many favorable
and SO few depressing features In sight as
| to leave little doubt that the year 1893 as
whole must hereafter furnish the basis for
estimates when comparisons of large busi
| ness are 20 be made. Nearly all obtainable
sta tis tics and reports as to the volume of
business point to the present year as hay
| ing heavily exceeded any previous year in
the amount OF business done, and though
comparisons as regards prices are not so
favorable as in earlier years, notably 1892
| and 1895, when quotations of mos; staples
were considerably higher, still the expan-
| sion In trade, Cue to increased popula tion
and enlarged foreign demand for our prod
ucts, has resulted in an aggregate volume
| OF business done considerab bly, In excess Of
any former year.
! In the general business world the leading
event. of the week has undoubtedly been
| the, placing Of very large orders, estimated
at between 500 900 aud 0O,0O0 tons, of steel
country's annual production, a prices
which, If not entirely satisfactory to the
| competing rail mills, are encouraging be-
| cause they indicate that no check caused
| by combination of interests will be admin
istered to our growing export trade, which
business. coupled with the possible demand
next year for structural steel for building
purposes, is likely TO play most impor ,ant
tr part IN the goverInment Of prices OF steel
podurI rss seheray sbew N5mna fr0 pcef
ruling some time ago, but quotations for
Bessemer iron ana steel billets refiec. the
stimulating influence Of the removal of
large volume of rail business.
Foreign demand for our food products
has continued an encouraging feature of
ticularly are a little lower on the week.
Notwithstanding very heavy farmers de-
liver.es and increasing domestic stocks.
reported, resulting partially from the ma
terializing of early reported business and
parity from increased foreign buying al
concessions earlier in the week.
Corn and oats appear TO have temporarily
parted company with wheat and are higher
on the week on improved specula tive buy
freight situation is slightly easier, and the
supply OF tonnage shows some enlarge
| ment. The price situation generally is an
encouraging one and advances largely out
winter weather in the south has tended to
make smaller cotton crop estimates more
purchases have advanced prices for this
staple.
Anthracite coal has been marked up in
some markets, largely owing to colo weatn-
en- but there are yet few new develop
ments in the direction of control of output.
Tin and copper are again active spec,s-
la;ively and tin plates reflect the formal
launching of the combination in slightly
higher quotations.
The boot and shoe situation has been i'm
proved by the severe weather lately ex-
perienced, as has the output of rubber
goods. Leather is steader and hides are
higher, an unusual feature at this time
of the year. The recent advance in raw
sugar appears TO have eliminated this
week, and slight reaction is shown on re-
ports that beet sugar imports from Europe
are likely to be heavily increased. Refined
very heavy.
The advent of winter weather has tended
to reduce the demand for building lumber,
wnich III IN some nd markets partlcularly IN the
cause Of the inactivity in building A rath-
er better tone is, however, now reported,
ed with confidence Recent advances in
prices of pine and spruce lumber are well
maintained, stocks in dealers hands are
not at all heavy, and advices both from the
yellow pine and cypress producing sections
Of the south and the white pine markets of
the north and northwest are that heavy
output has been, as rule, satisfactorily
handled. The hardwood situation main
tains all of the strength previously noted.
The domestic woodworking demand is of
good Sl,, volume, while export business is
steadily increasing and prices as whole
are considerably higher than they were al
the opening of the year
The general jobbing trade has been ra ath-
er smaller than usual a this time of year
and severe storms In the east have hurt
| distribution, but the demand for holiday
goods is of an encouraging volume and
Business failures are of normal volume
| numbering PIP for the week, against 1872
last week, 25o in 1897, 1853 in 1885, 3l5 In 1896
and 322 in 1894.
Wheat, including flour. shipments for
the week aggregate I, ,4Ss 959 bushels, against
oS24, 726 bushels last week, 6.699, ,96o bushels
he n sss yfek enshes of S @ 1885,
3011,560 bushels in 1894. Since July l this
year the exports of wheat aggregat ed 96,-
19Sl42 bushels, against 10793S, $50 bushels
last year.
FINANCIAL REVIEW
Bradstreet's financial review will say:
More than the Gus stomary amount of at
tention has been paid this week to foreign
bullish tendencies, has been more or less
irregular In It's actual course. The local
professional element had been. ranged on
the bull side IN anticipation Of an agree
American peace conditions The realiza-
ton of this belief on last Monday found the
traders generally disposed to take profits
and to work for reaction. London, how
| ever was a large purchaser of our stocks
and support from that quarter checked the
recession In prices; On Wednesday, how
Bank of England for shipment to New
York. accompanying a withdrawal of over
81, 500 900 for Berlin, brought about sharp
rise in the London market and caused the
foreigners to change their speculative at
titude and become sellers Of our stocks
Berlin was credited with being largely re-
sponsible for this movement, particularly
in connection with the Pacific stocks, and
for short time a somewhat exaggerated
view of the financial and speculative con-
ditions at the German capital passed cur
rent in Wall street. On Thursday, how
ever the situation abroad became more set
tied: No advance took place, as was feared
might be the case. in the Bank Of England
discount rate, while the rises of money in
to allay the fear of heavy gold Withdraw
ais to this country. London, therefore, re-
purchased some of the stocks which it sold
on the preceding day, and the market here
the industrials rather than the railroad
oh n uat yvnra mainly hon AT al hy ~