Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-12-03
COMPARISONS OF HEAVY TRADE TO
BE MADE WITH '9s HEREAFTER.
ALL FORMER YEARS OUTDONE
HUGE ORDERS FOR STEEL RAILS
WERE THIS WEEKS FEATURE.
Foreign Demand for Cereals COntin-
ues Heavy and Prices Are Hold
ing Up WcIl-General Job
bling Trade Smaller
Than Usual.
NEW YORK. Dec. 2.-Bradstreet's to-

NEW YORK. Dec. 2.-Bradstreet's to-
morrow will say:
The business world enters on the clos
ing month of the year with so many fav-
orable and so few depressing features in
sight as to leave little doubt that the year
1898 as a whole must hereafter furnish the
basis for estimate when comparisons CT
large business are TO be made. Nearly all
obtainable statistics and reports as to the
volume of business point to the present
year having heavily exceeded any former
year in the amount of business done, and
though comparisons as regards prices are
not so favorable as in earlier years, nota-
bly, 1892 and 1886, when quotations of most
staples We're considerably higher, still
the expansion in trade due TO increased
population and enlarged foreign demand
for our products has resulted in an aggre-
gate 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, esti-
mated at between 100000 and I00.0o0 tons of
steel rails, more than one-quarter of the
entire couEtry'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 a most
important part in the government of prices
Of steel products generally.
Foreign demand for our food products
has continued ar encouraging feature of
the cereal situation, and wheat prices par
t%icularly are little lower on the week. not
urirh Sfl nlir0 vary haor-v fo rrparc IL;
cries and increasing domestic stocks. Ex-
ports this week are the largest ever re-
ported, rejecting the partial materializa-
ton of early reported business and partly
increased foreign buying at concessions
earlier 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 ex-
port trade.
The boot and shoe situation has been
improved by the severe weather lately ex-
perienced. as has the outlook for rubber
goods. Leather is steadier and hides are
higher, an unusual feature at this time of
year. The recent advance in raw sugar
appears to lave eliminated this week, and
a slight reaction is shown on reports that
beet sugar imports from Europe are likely
to heavily increase. Refined is firm, No.
vember business having been very heavy.
The general jobbing trade has been
rather smaller than usual at 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 2l2, for the
week, against 49, last week, 30 in 1887, $50
in 1896, 3l5 in 1895. and 800 in 1894"
r. G.. Dun & Co.'S Weekly Review Of
Trade will say tomorrow:
THE report of failures for the month
OF November is extremely gratifying, be-
cause 1t shows not only a decrease in num-
Der and a smaller amount of liabilities than
In any other month, excepting three sum-
mer months, since the monthly record be-
gan, but because careful analysis shows
a striking Improvement both in the small
ana in the large failures, and in nearly
all classes of industry and trade. con-
sidering that failures are usually smaller
in summer months than in November, the
monthly return may be considered about
the best ever made. and shows a condition
OF financial soundness rarely surpassed.
Nobody can stimate the gain for the
iron and steel industry which will result
from the past weeks transactions in steel
rails, which resulted to exceed 100, 900 tons.
The makers have failed to agree and TO
complete the consolidation under which a
'A'oi 6Ni was CApCGlGo ~ sell al lie
rails for domestic use or for export, the
Western works entered into an agreement
by. themselves and fixed their scale of
prices at $7 for Pittsburg, SIS for Chicago
and sls for Colorado, and the Illinois steel
works are said to nave taken orders in a
single week covering much the greater
part of next years capacity. But East
ern concerns have not been idle. and have
taken such large orders that the output
OF the year is now expected to exceed
1000, coo tons.
Sales of wool nave been large in No
vember, $3.50. 200 pounds in five weeks.
against 81, 122, 400 last year, and 26.S31 900 in
1892, but they have been affected by inn
portant concessions in price. Manufactur-
ers have somewhat larger orders and are
more hopeful. but considerable share of the
machinery must inevitably remain idle
until the material is cheaper in compare
SON with the cost of wool and goods in
other countries.
THE rise of cotton to $50 cents, which
had no other basis than an impression
that, cold weather and storms late in No
s s;I1asn,h might E11t T do m web, harm ma r t;o c . a
the top price, with Improvement in the
goods market: While prices of print
heavy goods and bleached shirtings are "a |
9TH wheat market has been lower, with
&c. Atlantic exports have been 6,123.O5S
bushels. -four included, for. the week. |
agalss5 SD de- IS Z a lasf year Ts5 as s5s f Iast ye eT.
and for five weeks the total exports have
been Is, S04, s63 bushels. against 26,l22, 100 last
year.
..Within the same time. corn exports
have been 14.40,2SS bushels. against r.
$50 last year. and the price has risen
1t is a most significant fact. which
all interested may keep we'll in mind. that
exports of wheat about equal the great
est ever known in any crop year thus TAR. |
but are accompanied by corn exports also
but slightly exceeded in the year of great |
est movement heretofore. The possibility |
that foreign dependence on American food
is permanently increasing may
be worth considering"