The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-01-22
VOLUME OF GUINNESS BIG.
More Than Third Larger Than
Last Year.
THAT SOME INDUSTRIES LAG is
NOT DISCOURAGING.

General C0nultIOh Oh AIfalrs was Never
So Good at This Season of the Year in
This Country-Failures Less Than Half
Last Years.
New York, January 21.-R. G. Dun &
Co., in their weekly review of trade will
say:
With volume of business remarkable
for the time of year, 3S per cent larger
than year ago and TO-. 4 per cent larger
than in 1899 in payments through clear
ing houses, it is not discouraging that one
or two industries are tagging. The de-
mand for most goods is more heavy
for the season, manufacturing works
are better employed and orders booked
and prospects for the future are more en-.
couraging than at this season in any other
year where equally definite records exist.
Exports of products are surprisingly
heavy in spite of prices. Treasury
receipts from customs were larger in
90 days of January than in the entire
month Of October or of November and
apprehension regarding the monetary
future is no longer felt outside of specula-
tive circles. Failures are considerably
smaller than were ever known at this
season, both manufacturing and trading
less than half last years.
The rise of wheat above dollar in reg
ular sales was not accompanied by signs
of speculative extreme. The fact that
cargoes of corn were shipped during the
week both to Egypt and Russia, the very
NJ which EupOna rnngt rA1laS
for bread stuffs next to the United States,
affected trade not unreasonably. Evil
IDENTIFY the markets of the world are this
year quite at the mercy Of American
supplies, and it is fortunate for this coun-
try that the prevailing disposition is to
market grain in large quantities rather
than to force up speculative prices and
lessen foreign competition. aE
Just when the unprecedented produc-
ton of pig iron was causing weakness,
extraordinary demand for finished pro-
ducts appeared. For this season at least
the general demand is beyond precedent
including $50, 900 tons steel rails for the
week and 1900, 900 already this year. Or
ders for plates are so large that Pittsburg
works send away some to other concerns,
unable to fill all they receive, orders for
bar such that many concerns are obliged
to refuse more, an excellent demand for
sheets and fair for structural forms.
Prices of all finished products are sus-
tanned by the demand though Bessemer
pig is five cents lower at Pittsburg, but
pig at Chicago is strong, with some pro-
duction of finished forms, delayed by it's
scarcity.
Reports in the boot and shoe market
tell of large contracts. Manufacturers
are buying leather heavily. one statement
making sales of hemlock sole alone, 100.-
600 sides for the week. Exaggerated or
To-, han a1,nI 1rrh 40 Tlrn 20
that some of the largest manufacturers
are either taking contracts or have re-
solved upon a course which will secure
heavy business. No yielding by jobbers
in prices being discovered, 1T is the natal
raj inference that heavy future engage
ments have been secured through oonces-
sions both by man ufactures of shoes and
by holders of leather, though the open
quotations of leather are little advanced.
Hides at Chicago are also shade higher.
but their holding is generally distrusted.
The great strike of operatives In cotton
mills of New England seems as con-
v, nient TO mill owners with their heavy
stocks unsold as if they had ordered it.
Probably it will last long enough to
work off stocks and the print cloth
market is already about per cent strong
er, while a slight advance is noted in
some other cotton goods With very
stagnant markets for wool, sales amounts
ing to only 5, 1896. 200 pounds at the three
chief cities. which reported overil8, 600, :
600 in one week of September. and 66, 300,
600 in four weeks, the inquiry for round
lots is mainly for three-eights and a
quarter blood, suitable for cheviots, but
have resulted in little dealing. The mills
have taken satisfactory orders for suc.-
goods, probably not without knowing
where they could get the wool, and the
goods movement is distinctly encourag-
ing. though quotations of tho higher
priced weights are still deferred. But
a very large business for the coming sea
son is already assured. according to reli-
able accounts entitled to confidence.
Failures for the week have been 374 in
the United States against 400 last year
and SO in Canada, against Is last year.