Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-12-24
review OF TRADE
IT Is THE SAME OLD STORY OF UN-
PRECEDENTED ACTIVITY.
BUSINESS BOOMS IN ALL LINFS
FOREIGN DEMAND FOR CEREALS
CONFINES UNABATED.
Even Cotton Goods and RAW Wool
Are Rcdecming ThcmscIves-Pn.-
ment~ Through Clearing
Houses Enormous-The
Iron Trade.

Iron Trade.
NEW YORK. Dec. @2.-BraGstreet' to-
morrow viii say: Current business condi-
tions furnish some sharp contrasts to those
usually looked for or reported at this sea-
son Of the year. Il Is, of course, reason
able 10 look Tor exceptional activity in
holiday and retail trade generally a this
date, and ir, this respect the most san
gulne expectations appear TO have been
realized. Probably never before at this
date, however. Was the course Of general
business SO animated as it is at present.
Speculative activity is no longer confined
TO the stock market, but has widered to
include " heat and corn among the cereals,
ana copper among the metals, while the
rush Of business in iron and steel seems
little, Il any, ubated, and some lines, Hotl-
bly, cotton goods and raw wool are dis
playing an activity ana strength wlicn
would have been welcomed 1T any time
for Il year past. Prices of securities and
Of staples alike furnish examples of ag-
greSSive strength which are SO numerous
- 10 deserve special mention.
In the iron trade no signs OF tagging
interest are 10 be discerned, but. rather,
there is more pronounced activity in new
directions. The feature of the week has
undoubtedly been the reported placing of
an order for S0O00 tons of steel rails with
an Eastern rail mill, TO so to Siberia. All
the strength Of prices is maintained, and
in some lines, notably bilets. wire rods,
plates and bars, further advances are TO
be reported. III many lines, the country's
production seems to be heavily sold ahead
and the utmost confidence is expressed as
TO present valued being maintained or stlll
further increased. In other metals toe.
= sympathetic rise Is 10 be Giscerued.
The foreign demand for cereals con-
unues una batel, any slight reaction in
price being taken advantage of by for
eign buyers. Wheat closes the week with
quotations well up 10 the highest paid this
autumn, and Snort sellers of December
delivery are Irdpiug the benefit of indiS-
Greet speculation. The strength OF wheat
has been enhanced by sympathy with the
growing speculative interest III corn. .Or
which the highest price paid for three
in copper ana copper stocks has received
an impetus this week from rumors of
combination to control the American pro-
ouG cotton displays notable strength
and the market Tor the manufactured prod
ut is very nr!n at The recent advances.
print cloths. IN fact, being higher than
Strength and firmness are q feature also
OF the lumber market with the possible
exception OF yellow pine, where keen com
| petition tends TO check the advancing tend
| enCy shown by other woods In other lines
of general trade and industry reports are
as 4 rule favorable
r. q. Dun x Co.'S Weekly Review of
| Trade VIII say in to-morTow's issue:
It Is :, year beyond parallel. and goes
| 10 us close with the biggest volume of bust
| ness ever seen. Enormous transactions AT
| the stock exchange makes some difference
| ana heavy railroad earnings but when all
| the transporting and speculative interests
| are eliminated there is still q much larger
| business than in any other month OF any
year. Last year the exports We're IN 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 per cent in imports
| winch would indicate much more than So
| "y0Wo excess of exports this month.
| The payments through clearing houses
! have been for the week 26.5 per cent great
| er than last year and l2.i per cent greater
| than in 1899. and for the month us per
| cent larger than IN 1882. Until now, no
| done in the history of this country than in
| the closing month OF this year.
shipments Of wheat have been 3.2S5, 70i
| bushels, -four included, al Atlantic ports.
| against .32l last year although West
| ern receipts for three weeks have been - -
| 0SS:5N bushels, against le.3Ds929 last year.
! fact which the believers in small crop
| may well consider. From Pacific ports the
! shipments have been for the week 1850
| bushels. against $4,000 bushels last year.
| Considering the enormous exports from
! July 10 dale exceeding last years. one
! can only wonder that the outgo this year
! has been 50 large and the price has risen
| during the week cent and half. Corn
exports also have been 1884 $50 bushels,
| against 4,5i0Gl3 last year. ANA Tor the
| month thus far IL Ul2 l3S. against 10 S67 4OI
! last year. The price has advanced about
| 2@s cents, but the continued foreign de-
| mand Is astonishing.
II the cotton manufacturer takes lead
! ing place this year 1t is not merely be-
! cause cotton IS an eighth lower than u
/ year ago, nor because prospects for buy
| ers are so good. The manufacture has been
much expanded by increased demand, so
that prices Of nearly all the goods quoted
In our report have advanced more or less,
! ana there is feeling that. with unrcason-
able accumulation of print cloths out or the
way, there IS brighter prospect for all
! goods.
Sales OF wool have heen large, 2736J IC0
pounds. against 3, ll5,2oc pounds last year
| and 2l,5S"2op pounds in the same week OF
| lS92 with small as well as large nlanufac-
| turers buying very freely, which indicates
IL general Improvement in the demand ior
goods. although rot enough Yet Ia
The story OF the iron manufacture is like
! a cream. With 25"0U tons of BesSemer
pig sold At Pittsburg for $i0G0 and gray
forge at $40 and Chicago sales limited
only by the capacity of the works and
Eastern sales 50 numerous and 50 large
as 10 raise the price - cents. there is q
demand for finished products which includes
lat PHILADELPHIA 1000 tons Of plates for rx-
port 10 South America. 3.0r0 tens at Chi
! oaeo. where works are crowded so eco tons
! of steel rails by thu MARYLAND Steel Com.
Dany- for Asiatir Russia. S5.rro tons for
Australia. against British bids. at Pitts
burg and about lAi-0 tons of domestic Il,
the East. $50" tons structural work al
Chicago and Pi-tshurg and S.eEo tons for
car. fslGors q Chicago all the works there
being crowded, win heavy buying of sheet,
md wire rods md sharp competition al
the South IN cotton ties. n pending contract
for 2no,1 tons cast pipe for Yokohama ana
sales OF similar quantities in each class toe
Prices of iron and steel products have
4 not materially changed. although the tone
/ is everywhere stronger. and for wire nails
ouotafiors have been advanced 10 81 20 nj
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