The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-24
DUN & co. s REVIEW
Year Closes With the Biggest
Business Ever Seen.
HEAVY DEMAND FOR CORN
STORY OF THE IRON MANUFAC-
TURE LIKE A DREAM.
SALES OF WOOL HAVE BEEN VERY LARGE
There are indications also Of General I'm
trovement in the Demand for Cst:on
Goods but not Enough to Lift
prircc ac Vet
Prices as Yet

New York. Dec. Or. G. Dun Il
Compamys weekly review of trade will
say in tomorrow issue:
1t is a year beyond parallel.
and goes to its close with
the biggest volume of business
ever seen. Enormous transactions
at the stock exchange make some diff
ference and heavy railroad earnings, but
when all the transportation and specu-
lative interests are eliminated there is
still a much larger business than in any
other month of the year.
Last year the exports were i'll volume
greater than in any previous month in
the history of the country, but this
year the three weeks report shows an
increase of % per cent. against 8 per
cent. in imports, which would indicate
much more than S700O0,00o excess of
exports this month.
The payments through clearing houses
have been for the week 26.o per cent
greater than last year and ia per cent
greater than in 1892 and for the month
IFS per cent larger than in 1897. Until
now no greater volume of business has
ever been done in the history of this
country than in the closing month of
this year.
Shipments of wheat have been 3,2S3,-
704 bushels. -four included, at Atlantic
ports, against 3,69S.321 bushels last
year, although Western receipts for
three weeks have been 2J,0SS,oS1 bush
els against 10309,929 bushels last year,
Il fact which the believers in a small
crop may well consider.
From Pacific ports the shipments have
been for the week 1,316,019 bushels,
against $4,000 bushels last year. Con
sidering the enormous exports from July
LIST To date, exceeding last years one
can only wonder that the outgo this
year has been so large and the price
has risen during the week a cent and
a half.
Corn exports also have been 3,S24,S36
bushels. against 4.540,613 bushels last
year and for the month thus far IL or
1873 bushels, against 10.S67, 407 bushels
last year. The price has advanced
about 2ssc, but the continued foreign
demand is astonishing.
II the cotton manufacturer takes
leading place this year it Is not merely
because cotton is an eighth lower than
d year ago. nor because prospects for
buyers are so good.
The manufacture has been much ex-
panded by increased demand, so that
prices of nearly all the goods quoted
in our report have advanced more or
less and there is a feeling that with
unreasonable accumulation of print
cloths out of the way, there is brighter
prospect for all goods. Sales of wool
have been large, 1886. 100 pounds.
against %, 115,200 pounds last year and
II .5S0,200 pounds III the same week
OF 1892, with small as well as large
manufacturers buying very freely,
which indicated general Improvement
i'll the demand for goods, although not
enough as yet to lift prices.
The story of the iron manufacture is
like a dream. With $4,000 tons Besse-
mer pig sold at Pittsburg for $1,000,
and Grey Forge at 1910 and Chicago
sales limited only by the capacity Of
the works and Eastern saies so lunier
Gus and so large az to raise the price
25c, is demand for finished pro-
duets which includes at Philadelphia, L..
America: 5000 tons at Chicago, where
works are crowded, $4,000 tons steel
rails by the Maryland Steel Company,
for Asiatic Russia, $4,000 tons for Aus
tralia. against British bids at Pittsburg
and about 10000 tons domestic at the
East. 900 tons structural work at Chica-
go and Pittsburg and 5000 tons for car
builders at Chicago. AZ the works there
1 Al lYttrt ~
sheets and wire rods, and sharp compe-
tition at the South in cotton ties, Il
pending contract for 10000 tons cast
pipe for Yokahoma and sales of smaller
quantities in each class too numerous
TO mention. Prices Of iron and steel
products have not materially changed,
although the price is everywhere stron-
ger and for wire nails, quotations have
been advanced to $1.30 ut Pittsburg.
But this country is beating the world
in this industry.
All this business is done with full
belief that the next years demand will
he greater than ever before, ana it is cred
liable, especially in the iron and steel bus-
ness. that so little advance in prices Of
finished products has been made. The
range of prices is neSriy 20 per cent
lower than in 1899. indicating an aston
ishng increase in the quantity of pro
ducts exchanged How Europe will be
able to pay more than S75.000000 due
on merchandise account for the month
of December, besides the enormous bal
ances due for November and previous
months, is a question which the country
can afford to consider at its leisure and
with comfort.
Failures for the week have been 25S.
Against 292 i'll the United States last
year and 81 in Canada, against SO last
year.