The times. [volume] (Richmond, Va.) 1890-1903, 1898-12-24
THE YEAR WAS A
PROSPEROUS ONE.
The Volume Of Business Done Has
Been Without Parallel.
AN ENORMOUS EXPORT TRADE.
The Story of Iron Manufacture Reads
Like n Dream-Eoreign Demand
for Our Grain Continues Large
and Shipments Keep WeliUp

NEW YORK. December PR. G. Dun
& Cos. Weekly Review Of trade Will say
in tO-mOrrows Issue.
II is year beyond parallel and goes
10 It's close with the biggest volume OF
business ever seem Enormous transac-
tons At the Stock Exchange makes some
difference. and heavy railroad EARNINGS,
but when all the transportation and
speculative interests are eliminated there
is still a much larger business than IN
any other month OF the 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 report shows an Increase OF 70
per cent. against per cent. in imports,
which wouI Indicate much more than
!1OOOJ.O00 excess Of exports this month.
The payments through clearing houses
have been for the week 26.1 per cent
greater than last year. IL per cent
greater than in 1892. and Tor the mohlh
rs per cent. larger than in lssz Ohul
now no greater volume OF business mas
ever been done in the history OF ms
country than in the closing month Oh TINS
year. ..
GRAIN EXPORTS.
Shipments of wheat have been 3.2Sj zoo
bushels Olour included at Atlantic ports
against $685.. 8c1 last year, although west
ern receipts for three weeks have Deeh
25OSs.5S bushels against lo,S9'92s last
year-a fact which the believers in a
small crop may we'll consider.
From Pacific ports the shipments nave
been for the week 1.3ls0l9 against 9'6.olD
bushels last year. Considering the enor-
nous exports from July lst 10 date. eX-
ceeding last years. one can only wonder
that the outgO this year has been so
large and the price has risen during the
week cent and a half
Corn exports also have been 3.S4s36
bushels against 4.5i0 613 last year. and for
the month thus far. 1l012.13s against
u. S67. sO7 last year The price has advanc-
ed about 23-S cents but the continued
foreign demand is astonishing.
COTTON TRADE.
If the cotton manufacturer takes Lead
ing place this year IL Is not merely be-
cause cotton is an eigth lower than "a year
ago, nor because prospects for buyers
also good. The manufacture has been
much expanded by increased demand so
that prices Of nearly all the goods quoted
in our reports have advanced more or
less. and there is a feeling that with
unreasonable accumulation Of print
cloths out Of the way, there is a brighter
prospect for all goods Sales Of woods
have been large, 2,366,l0 pounds against
%. 1152JJ pounds last year and 21.5S92JO
pounds In the same weeks OF SOP. with
small as well as large manufacturers
buying very freely which indicates
general Improvement i'm the demand for
goods. although not enough as yet 10 lift
prices.
READS LIKE A DREAM
The story of The iron manufacture IS
like dream. With $500 tons Bessemer
pig sold at Pittsburg for 5000. and Grey
Forge al $40. and Chicago sales limited
only by the capacity of the works and
eastern sales 50 numerous and so large
as TO raise the price p cents. there is
demand for finished products which in
cludes at Philadelphia 1900 tons of plates
for export 10 South America; 1900 tons
at Chicago where the works are crowd
ed, 5000 tons steel rails by the Maryland
Steel Company for Asiatic Russia $1,000
tons for Australia against-Briush bids
at Pittsburg, and about 10000 tons domes-
tic at the east; 400 tons structural work
at Chicago and Pittsburg, and 5000 tons
for car builders at Chicago, all the works
there being crowded, with heavy buying
of sheets and wire rods. and sharp COM
petition at the South I'm cotton ties. a
pending contract for 20.O00 tons cast pipe
for Yokohoma, and sales Of smaller
quantities in each class too numerous
to mention. Prices of iron and steel pro-
ducts have not materially changed, al
though the price is everywhere stronger.
and for wire nails quotations have been
advanced TO 100 at Pittsburg But this
country is beating the world in this in
dustry.
STILL BETTER LOOKED FOR.
All this business is done with full be-
lief that the next years demand will be
greater than ever before. and it is credi-
Bile, especially I'm the iron and steel bust
mes that so little advance in prices OF
finished products has been made The
range of prices is nearly % per cent
lower than in 1892. indicating an astonish-
ing increase I'm the quantity Of products
exchanged. Whether IL will be able 20
pay more than $4,000. 900 due on merchan-
disc account for December. besides the
enormous balances due for November
and previous months. is a question which
The country can afford 10 consider at its
leisure and with comfort.
Failures for the week have been 25S
against POP in tho United States last year,
and 81 in Canada against $50 last year.