The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-12-03
THE YEARS BUSINESS AHEAD.
FAVORABLE FEATURES MANY AND
DEPRESSING ONES FEW.

Stuttsttch snow the Oiume OF Busl-
Eess Way in Excess of other Years.
Expansion fn Home Trade and nn
Increased Foreign Demand-one
Quarter OF the Annual Production
of Steel Rails Placed During the
Week Just Closed.
New York. Dec. 2--Bradstreet's to-mor-
row will say: 1.-THE business world enters
In the closing month of the year with 50
many favorable and so few depressing fea-
lures in sight as to leave little doubt that
the year 1898 as a whole must hereafter
furnish the basis for estimate when com
parsons Of large business are to be made.
Nearly all obtainable statistics and re-
| ports as to the volume Of business point
to the present year having heavily 'ex-
ceeded any former year IN the amount of
business done, and the comparisons as re
CARDS prices are not so favorable as in
earlier years, notably 1892 and 1890 @when
quotations of most staples were considera-
bly, higher. Still the expansion in trade,
due to increased population and enlarged
foreign demand for our products, has re-
| suited in an aggregate volume of business
| done considerably in excess of any former
year.
In the general business world the lead
ing event of the week has undoubtedly
been the placing of very large orders. es-
timated at between 100000 and 100000 tons
of steel rails more than one-quarter of
the entire country's annual production, at
prices which, if not entirely satisfactory
TO the competing rail mills, are encourage
| ing, because they indicate that no check
caused by combination of interests will be
administered to our growing export trade;
which business, coupled with the possible
| demand next year for structural steel for
building purposes, Is likely to play also an
important part in the government of prices
of steel products generally. Nominal
prices of steel rails show little change
from those ruling some time ago, but quo
tations for Bessemer iron and steel biIlets
reflect the stimulating influence of the re-
moval of the uncertainty regarding the
placing of this large volume of rail bust
ness.
Foreign demand for our food products
has continued an encouraging feature of
the cereal situation, and wheat prices par
ticularly are a little lower on the week
Notwithstanding very heavy farmers de-
hveries and increasing domestic stocks
Exports this week are the largest ever re-
ported, rejecting partly the undertaking.
of early reported business and partly in
creased foreign buying al concessions ear
lier in the week. Corn and oats appear to
have temporarily parted company from
wheat and are higher on the week on i'm
proved speculative buying and enlarged
export trade.
The ocean freights situation is slightly
easier and the supply of tonnage shows
some enlargement. The prices situation
| generally is an encouraging one and ad-
vances out-number declines.
sgsTher early arrival etswtnters weather in
! the South has tended to make smaller
cotton crop estimates more popular and en-
larged speculative and special purchases
have advanced prices for this staple An
| thracite coal has been marked up in some
markets, largely owing TO cold weather,
| but there are yet few new developments in
! the direction of control of output.
Tin and copper are again active specu-
lativeiy, and tin plates reflect the formal
launching of the'n new combination in slight
ly higher quotations.
''The boot and shoe. situation has been
| improved by the severe weather, largely
experienced as has the outlook for rubber
! goods. Leather is steadier and hides are
higher, an unusual feature at this time of
| year.
1.-The recent advance in raw sugar ap-
| pears to have eliminated this week and a
slight reaction is shown on reports that
beet sugar imports from Europe are likely
TO heavily increase. Refined is strong, No
vember demand having been very heavy.
THE coming of winter has tended to re-
duce the demand for building lumber which
| In some markets, particularly the East,
| was depressed during the summer because
| of the inactivity in building. A rather bet
| ter tone is. however, now reported and the
| opening of the new year is awaited with
| confidence. Recent advances in prices of
| pine and spruce lumber are well maintain
ed, stocks in dealers hands are not at all
heavy and advices both from the yellow
pine and cypress producing sections of the
| South and the white pine markets of the
| North and Northwest are that heavy out
put has been, as a rule, satisfactorily ham
| died.
THE hardwood situation maintains all
! of the strength previously noted. The
| domestic woodworking demand Is of good
volume, while export business is steadily
increasing, and prices as a whole are con-
siderabiy higher than they were at the
| opening of the year.
THE general jobbing trade has been
rather smaller, as usual al this time of
year, and severe storms in the East have
hurt distribution, but the demand for hol-
iday goods is of an encouraging volume,
and promises well.
| Business failures are of normal volume.
numbering 212 for the week, against 1872
sast week, $50 in 1891, 1853 in 1896, SIS in 1895
and S22 in 1894
Wheat. including -four shipments for
the week aggregate 7.4SS,959 bushels,
| against 5S24.726 bushels last week, 6,499 $50
| bushels in the corresponding week of 1897,
1868, 100 bushels in 1896, S,156.S2S bushels in
'95 and 3,011, $50 bushels in 1894. Since July
| /. this year, the exports of wheat aggre-
| gate 96,19S,l42 bushels, against 107, 9SS, $50
| bushels last year.
Corn exports for the week aggregate
4,62S,9SS bushels, against 3993,S46 bushels
| last week, ASS sos bushels in this week
| year ago, 1,76S 1902 bushels in 1896 1861, 094
, bushels in 1895, and 81, 434 bushels i'm 1894
/ Since July !, this year, corn exports ag-
i o. nnr IL. 49, 49, 81 1og -