The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1899-01-05
YEAR o TOR z.
Not Only ON the Field Of battle But
In Financial, Commercinl and
lndustriaIs circles.

New York, Dec. 31.-R. G.. Dun & Co.'S
weekly review Of trade says: The year 1898
mas not only been one OF victory. Of inn
portant increase In territory. and OF in
calculable expansion of the influence of the
United states among all nations. but has
surpassed all other years in financial and
Industrial results, The center of financial
power has crossed the ocean. After pay
ing debts OF several millions abroad and
conducting war loan to an honorable end,
the country IS lending so many millions in
europe that. for the first time, banks
| abroad look to New York to dictate the
| rate OF exchange Exports have been about
y, GOO and the excess over imports
about $6l7 600, against $685., O0OO 900 in 1897,
and IN only two previous years has the bal
ance risen to $500, 100000 In no past calen-
dar year have the net imports of gold
reached SIS, 0oo, 600. but this year they have
been about $14O.000,OOO November passed
all previous months in value of produce ex-
ports over imports. but December has gone
much beyond November.
POWER IN the worlds markets comes
with q demand for breadstuffs and other
necessaries never before equaled Exports
OF cotton have been over 100000 bales.
| about 1886. 100000 pounds, and in no pre-
vious year as much as 100000 bales, or
S,5OO,O OO,OOO pounds Exports Of breadstuffs
have been In value $2S3, 918, 294 in II months,
ana nave never been as large in any other
year Exports of wheat for the year, lack
Ing day or two, have been 21S, 594, 6S6 BUSH
els nour included. slightly exceeded only
by 225665,S12 In 1892. and of corn 200, 979, or
bushels, only approached by 1S9, ~, $40 in
lsS The heaviest exports of both grains
and flour In any previous year were &c.
oOC,OO0 bushels smaller, only 360,220,513 in
ley7. Though wheat was raised to s. 81 in
May. the highest quotation with the
nlghest monthly average for 30 years,
n5S.23 so that the average for the first half
year was SILL, exceeded slightly in 1891,
put the highest since 1883, the December av-
erage has been only u cents rs cents below
that OF last year, but the years average,
% cents, is the highest since 1881.
THE triumph in finance has been largely
due to industrial progress. The output Of
pig iron has been about Il, GAS, 900 tons. the
greatest yet reached in any year by 2,OO0, 900
tons, and greater than Great Britain ever
reached by 100000 tons. Yet the con-
sumption In manufacture has been still
larger In spite Of net exports of pig; in ten
months 163,OS9 tons for unsold stocks were
reduced In IL months $50, 600 tons. Exports
OF iron manufactures in ten months were
about ST.. 644, 5S6 in value, against imports Of
$13, 1857. Prices shown for the year in the
table of comparisons have been unusually
steady, varying not per cent. for pig from
the lowest to the highest, and for finished
products not per cent
There were II, 638 failures in the United
States in 1885, involving liabilities Of $141,-
1S.117, decrease from 1897 in number Of
n.2 per cent. and in liabilities of 9.5 per
cent. Compared with 1896 and 1895 the pro-
portion OF decrease shown is even larger,
and compared with 1896 failures were fewer
by Is per cent. and liabilities smaller by
g. per cent: