Griggs courier., 1898-12-29

SA:S " NoSSs OASSSuAu6 ldkSI year, one can
only wonder that the outgo this year has
been so large and the price has risen during
the week ~ cents Corn exports also have
been S.SM, ,S36 bushels, against 4,540.613 last
year. and for the month thus far Ii, ,O12 1888,
against 0.S67. .407 last year. The price has
advanced about 2x cents, but the continued
foreign demand is astonishing.
The Iron Industry.
The story Of the iron manufacture Is like
dream. With 25000 tons bessemer pig
sold at Pittsburgh for 5000 and grey forge
at 1910 and Chicago sales limited only BY
the capacity Of the works and eastern sales
80 numerous and so large as to raise the
price Is cents, there is demand for finished
products which includes at PHILADELPHIA
1000 tons Of plates for export to South
America, 5000 tons at Chicago. where works
are crowded. $4,000 tons steel rails by the
sia. 5000 tons for Australia, against Brit
ish bids at Pittsburgh. and about 10, 900 tons
domestic at the east, $500 tons structural
work at Chicago and Pittsburgh and 5000
tons Tor car builders at Chicago. all the
works there being crowded, with heavy
buying of sheets and wire rods, and sharp
competition at the south in cotton ties, q
pending contract for 10000 tons cast pipe
Tor Yokohama. and sales Of smaller quantl-
ties In each class 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
Pittsburgh.
Leads the World.
But this country is beating the world in
this industry. All this business is done
with full belief that the next years demand
will be greater than ever before, and it is
credttable, 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
n {r1S
crease In the quantity Of products ex-
changed. How Europe will be able to pay
more than 81. 900 due on merchandise
account for the month of December, be-
sides the enormous balances due for No
vember and previous months, is 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 81 In Canada. against 80 last year,
Bradstreet's View.
Bradstreet's says: Current business
conditions furnish some sharp contrasts to
those usually looked for or reported at this
season OF the year. 1t is, Of course. reason-
able to look for exceptional activity in holi-
day and retail trade generally at this date
and In this respect the most sanguine ex-
pectations appear to have been realized.
Probably never before at this date, how.
ever, was the course Of general business
30 animated as 1t Is at present. Speculative
activity is no longer confined to the stock
market. but has widened to INCLUDE wheat
and corn among the cereals and copper
among the metals. while the rush of bust
ness in iron and steel seems little, If any.
abated. and some lines. notably cotton
goods and raw wool, are displaying an
activity and strength which would have
been welcomed at any time for year past.
Prices of securities and Of staples alike fur
nish examples of aggressive strength.
which are so numerous as to deserve spe.
cial mention. In the iron trade no signs of
tagging interest are to be discerned. bur
rather more pronounced activity in new
directions.
''The foreign demand for cereals con-
tinues unabated. any slight price reaction
being taken advantage of by foreign buy
ers. Wheat closes the week with quota.
tions we'll up. to the highest paid this
autumn and short sellers of December de-
livery are reaping the benefit of indiscreet
speculation. The strength of wheat has
been enhanced by sympathy with the grow
Ing speculative interest in corn, for which
the highest prices paid for three years past
has been recorded. Strength and flrmness
Is feature also of the lumber market,
with the possible exception Of yellow pine.
where keen competition tends to check the
advancing tendency shown by other woods.
In other lines Of general trade and industry
reports are as rule favorable