Kansas City journal., 1898-01-15
DECEMBER RECORD BETTER THAN
THAT OF DECEMBER, 1892.
RAILROAD EARNINGS HEAVY.
GREATER THAN IN OUR MOST PROS.
PEROCS YEAR BEFORE.
Bank ClenrinEs Also In Excess of
Those of lS93-Wheat Market Gu.
riOusIy Lansuid-IndustriaI
Activity Most Manifest
I'm the West.

New York, Jan. H.-R. G.. Dun & Co.'S
Weekly Review of Trade will say, in its
issue OF Tomorrow: The year has opened
with a very satisfactory prospect. 1t IS
all the better that there Is no wild excite
ment in the speculative markets, and while
stocks advance little. grain yields a little.
The payments through principal clearing
houses Notwithstanding decrease at New
York. owing to less activity in stocks. are
&c per cent larger than in 1882, and l0.l per
cent larger outside New York. Earnings of
all railroads in the United States reporting
for December $i3. .364.2I9. indicate suhstan-
TALLY the same rate Of increase. exceeding
last years by 10.5 per cent, and the earn
ings of 1892 for the same roads by 1-3 per
cent Since 1892 was. on the whole. the
most prosperous year thus far, comparisons
Indicate Notwithstanding the lowest prices
ever known, that the volume of business IS
larger and in spite of some cutting OF
rates, the earnings of railroads are larger
than in the best year of past history.
The wheat market has been curiously
Ianguid. yielding a quarter of cent, al
though Atlantic exports amount TO o,ooe.'s
bushels for the two weeks of January.
against 39S6.317 last year, and Pacific ex-
ports for the week have been 1.9.o,6i6 BUSH
els. Western receipts continue SO heavy
that, with the greatest accumulation Oh
wheat at Chicago ever known there is 1T
tie encouragement for speculation. Re
ceipts were 5,5TI,2253 bushels for the two
weeks, against 3,O9s SIS bushels last year.
Corn exports continue large, although not
equal to last years. amounting to 3.l36,6SS
bushels. against 4143,652 bushels for the
week last year. and the price declined
about &c.
Spot cotton Is sixteenth lower for mid
ding uplands, mainly because of the stop
page of some mills by difficulty about
wages. But nothing is definitely known
about the quantity of cotton yet coming
forward, and one report of creditable char
acter puts the years yield at 1O.51o.e50 bales.
though results thus far do not quite justi-
fy so large an estimate.
1.-The wooden 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 at prices which they find satisfac-
tory, and the rush of small mills to buy
wool has made most Of the market during
the past week. Although sales have de-
clined about 40 per cent. compared with the
previous week, there is decidedly better de-
mand for mems wear goods. and the max
ers look forward to good season. The
cotton manufacturers have been overload
ing by excessive production. and find no in
crease in demand and no gain in prices"
Bradstreets tomorrow will say:
"DiStributive trade remains rather quiet,
mild weather throughout tho country tend
ing to check distribution OF winter goods.
Prices generally remain STEADY or tend up
ward. except for some grades Of iron, and
orders for spring trade. where received,
arc encouraging.
Industrial activity is most manifest at
the West, where the demand for iron is
very large. A feature of the week was
the placing of an order by one railroad for
100000 tons of steel rails. with smaller or
ders aggregating in the neighborhood OF
25 900 tons more. Pig iron production is
now at an unprecedented rate, the furnace
capacity being estimated at 100000 tons
month. AT the South, manufacturing
activity Is q, feature, sales Of iron being
very heavy. A good export demand for
cotton and grain at steady prices is a feat
ure. At the East a number Of strikes
against wage reductions are reported or
expected in the cotton industry. Some
woolen mills. working on heavy mems wear
goods. are refusing orders. their capacity
being fully booked.
Anthracite coal production Is such that
It is expected that the trade will be re-
stricted sufficiently to allow of the ad-
vance Of 20 to 40 cents per 1000 being main
tanned. Weather has been disappointing at
the Northwest. but an Improvement In the
demand developed at some centers as the
week advanced. The rush to Alaska has
already begun on the Pacific coast. Freight
charters are reported lower. Export trade
continues large, a gain OF per cent on the
total export Of breadstuffs, cotton. mineral
oils. cattle and hogs and provisions being
shown both for December and the calen-
dar year"