The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1898-12-31
THE BANNER YEAR.
All Records for Prosperity in Trade
Are Broken.
Business of Greater Volume Than
Ever Is Trnnsacted-Remar
Activity Is shown I'm the
Iron Industry.

Iron Industry.
New York, Dec PAR. @. Dun &c Co. s
weekly review OF trade says: 1T is a year
beyond parallel and goes TO its, close with
| the biggest volume of business ever seen.
| Enormous transactions at the stock ex-
! change and heavy railroad earnings makes
| some difference, but when all the transport
| ing and speculative interests are eliminate
| ed there Is still much larger business than
| In any other month of 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-
port shows an increase of 20 per cent.
| against per cent. In imports, which would
| indicate much more than TO,0O0.0O0 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 us per cent. larger than In
| 1892 No greater volume OF busi-
ness has ever BEEN done in the history OF
| this country than In the closing month of
this year.
wheat and Corn.
shipments OF wheat have been 1926, 704
bushels, flour included, at Atlantic ports,
against 3,69s,32l last year. although western
receipts for three weeks have been 25,0SS,-
5S1 bushels. against 10,30S,929 last year, a
fact which the believers In a small crop
may well consider From Pacific ports the
shipments have been for the week 1.31G.0l9
bushels, against $4,000 bushels last year.
Considering the enormous exports from
July to date. exceeding last 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 1924 1886 buahels. against 4,540,613 last
year. and for the month thus far II, OH 1873.
against 1887 0 last year. The price has
advanced about 2ss cents. but the continued
foreign demand Is astonishing
The Iron Industry.
The story of the iron manufacture Is like
a dream. With $4,000 tons bessemer pig
sold at Pittsburgh for $1,000 and grey forge
at $40 and Chicago sales limited only by
the capacity CT the works and eastern sales
so numerous and so large as to raise the
price 20 cents, there is a 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. $1,000 tons steel rails by the
Maryland Steel company for Asiatic Rus
STA. $4,000 tons for Australia, against Brit
ish bids at Pittsburgh, and about TO- 900 tons
domestic at the east, $500 tons structural
work at Chicago and Pittsburgh and 5000
tons for car builders at Chicago, all the
works there being crowded, with heavy
buying of sheets ard wire rods, and sharp
competition at the south in cotton ties, a
pending contract for 10000 tons cast pipe
for Yokohama and sales of smaller quanti-
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 81. 80 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 1t 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 in
CT ease in the quantity of products ex-
changed. How Europe will be able to pay
more than $4,000 900 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 292 in the United States last year
and 81 in Canada, against 80 last year."
Bradstreets View.
Bradstreets 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 holt
day and retail trade generally at this date
and in this respect the most sanguine ex-
Probably never before at this dste, how
ever, was the course OF general business
so animated as II 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 a y-ar 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 } signs of
tagging interest are to be discei ned, but
rather more pronounced activity in new
directions.
1.-THE foreign demand for cereals con-
tinues nabated. any slight price reaction
being taken advantage OF by foreign buy
crs. Wheat closes the week with quota
tions well 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 frmness
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 a rule favorable"
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