The Bellefontaine Republican. [volume] (Bellefontaine, Logan County, Ohio) 1855-1905, 1899-01-03
MILLIONS LOANED TO EUROPE.
New York Now Dictates Rates Of
Exchange.
GOLD IMPORTS DOUBLED.
Demand for Breadstuffs is
Excessive.


& Co.'s weekly review of trade will say
in tomorrow's issue:
The year of 1898 has not only been
one of victory. Of important increase of
territory, and incalculable expansion of
the influence of the United States
among other nations, but has surpassed
all other years in financial and indus
trial results. The center of financial
power has crossed the ocean.
After paying debts of several hundred
millions abroad and conducting war to
an honorable end, the country is lend
ing 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 81 ,250. .000,-
600, and the excess over imports about
$617 ,OOO. 900 against 1857 .OOo. 600 in 1897,
and in only two previous years has the
balance risen to $500. 600. 600. In no
past calendar year have
NET IMP 5RTs CT GOLD
reached $75. 900. 900, but this year they
have been about $4,000, 600. Novem.
Der passed all previous months in value
| of produce exports over imports, but
De cember has gone much beyond No
| vember.
Power in the worlds markets comes
with q demand for breadstuffs and
other neceeearies never before equaled.
Exports of cotton have been over 7,700,-
600 bales, about $500. 600 900 pounds.
and in no previous year as much as T.
600, 900 bales, or SOC. 100000 pounds.
Exports of breadstuffs have been in
value $2S3 918 294, in eleven months, and
have never been as large in any other
year. Exports of wheat for the year,
lacking day or two, have been 218. .594, :
6S6 bushels, -four included, slightly ex.
ceeded only by 225 665 s12 in 1892, and
of corn 200 979 OF bushels, only ap.
preached by 1S9. 127 $40 in 1897. The
heaviest exports of both grains and
-four in any previous year were 59. 9.OOO,-
900 bushels smaller, only 800 ,220,513 in
> 1897.
Though wheat was raised to $1.91 in
May, the highest quotation with ths
highest monthly average for the first
: half year was Ill, IL, exceeded slightly
in 1891, but the
HIGHEST fINCE 1888.
The December average has been only Z:
cents, 25 cents below that of last year
but the years average, SO cents, is tn
highest since 1881.
The triumph in finance has beel
largely due to industrial progress. Th
output of pig iron has been about IL,
645. 900 tons, the greatest yet reached il
any year by 1000. 600 tons, and create
than Great Britain ever reached by $500
, 600 tons. Yet the consumption in manu-
facture has been still larger in spite {
net exports Of pig in ten months 1853
0S9 tons, for unsold stocks were reduce
in eleven months $50 600 tons. ES
:" ports of iron manufactures in to
:" months were about $S7 ,644 536 in valu'
. against imports of $13. .497 .s17. PIics
!. shown for the year in the table of com
:" parsons have been unusually stead.
= varying not 5 per cent for pig from th
;. lowest to the highest, and for furnishe
" products not 6 per cent.
10 Textile industries have been retarde
= by high prices of wool and abnormal
= low prices of cotton, both deterring pul
80 chases. In three months cotton reach
ed 81 cents, the lowest price for fift
:, years, the greatest yield ever known b.
= ing followed by receipts since Septemb'
=. - 357 600 bales
LARGER THAN LAST YEAR.
40 Exports have increased, but not
ot greatly. Toward the close, recover
ID came with accounts of some destructio
ot by storm, and the price reached 81
q cents, giving strong impulse to Il
at manufacture, so the takings by Nortl
10 ern and Southern spinners in the calel
as dar year have been 3.425 200 bales,
r. little greater than any previous year.
an Goods were reduced in price 5 p
ia cent to the middle of November, b'
of have risen per cent and closed at tt
highest point for the year. In spite
as enormous stock held, wool was 30 lift
n that buying both of wool and of goo
of was checked early in the year, but slo
to decline began in February. Sales ha'
ne been only 232 .451, ,131 pounds at Il
25 three chief markets, 30 that the mil
ed have probably used less than a fl
of years supply and the stock of goo
N. was also excessive year ago.