The record-union., 1899-03-18
National Prosperity Rests on Solid
Foundation.
Volume Of Business In All Branches the
Greatest Ever Known.

| StIAAAASAy IAdAACt1Ineu anu
| Eagerness of Consumers to Take
the Product Remaining Un-
| changed.
NEW YORK, March 17.-R. G. DUN
& Co. s. Weekly Review of Trade will
say tomorrow:
| In business this year cannot be COM
pared with a year ago. 1t can be said
| that payments through the principal
clearing houses for the past week have
been 0I.4 per cent greater than in
1892 and 45.9 per cent greater than in
1898, but that only exaggerates the
gain in some branches of business.
While in others it falls far short of the
gain. Thus, the February exports Of
manufactured products have about
doubled since 1892. Omitting New.
York clearings, where speculation in
| stocks is more active, payments
through the other principal clearing
houses for the same week show an in
crease of 1916 per cent. over 1892, and
III per cent over last year.
! But without regard to such details.
all realize that the volume of business
| in all branches is the greatest ever
known The national prosperity rests
on more solid foundations. The ex-
ports of breadstuffs, provisions, cotton
and oil in February showed a decrease
| of S6,OOOO00, but other exports, mainly
manufactured, were $50, ,406, ,943 in
value, against $31 ,275, 1896 last year,
and We're sufficiently large to cover 80
per cent. of the entire imports. The
merchandise exports exceeded imports
for the month $33. 624, III, the gold
supply increasing, and there appears
no occasion for monetary disturbance
The treasury recorded its first payment
of the $59,O00,O00 for the Central Pa
cific Railroad, having previously re-
ceived S59O00,000 for the Union Pa
cific and over $6,000,O00 for the Kan
sas Pacific.
| Swiftly rising quotations for iron and
| it's products would mislead if it were
not kept in mind that more than nine-
tenths of the iron manufacturing ca
pacity is engaged, and will be until
July or later, in the execution of orders
taken months ago at low prices. If a
| million tons of products go out this
month, 100000 tons at such prices as
SIS to $50 for steel rails, at which the
entire output of the Illinois Steel SOM
| pany for this year was sold some time
ago. it hardly indicates the true char
acter of the iron business that less than
| 100000 tons are going out at sucn
prices as S26 to $2S per ton for steel
rails made here for small lots this week.
| Wool sales at the three chief markets
have been only 1905 900 pounds, of
which 2. 761 900 were domestic, against
| 5.O7S. 200 in the same week of 1892, Of
which 3,O75,O00 were domestic; but
prices are soft, and some dealers are
said to have yielded as much as to s
cents per pound clean because nobody
can guess what effect the new COM
binations may have. Prices are large
ly nominal, and yet there is a some-
what better demand for goods.
| Nor has the strong demand for cot
ton goods been helped by the weaker
market for cotton, which has fallen to
6.31 cents. in spite of volume of re-
norris about the bad condition of the
late picked products.
| The actual exports of wheat, flour
included, from both coasts during the
past two weeks have been 7,596.93S
bushels, against 7,376,S97 bushels last
year But such exports imply for
| eign demand. The corn exports nre
also a little larger than last year. The
Western receipts for the week nave
been 1883, 900 bushels, against IDOL
66O bushels last year.
Failures for the week have been 1So
! in the United States, against 2OS last
year, and 80 in Canada, against II last
year
NEW YORK, March 17.-"Brad-
street's' tomorrow will say:
| An activity, which, in some directions
represents the continuance of pre-ex-
isting conditions and in Others reflects
a special impulse communicated by the
near approach of spring, forms the
| leading note of this weeks trade al
vices In the iron and steel industry
activity continues unabated, the up
ward tendency of prices being st11King-
ly maintained, and the eagerness OF
consumers to take the product remain
ing unchanged. The more sprlngillSe
weather has induced a greater Keen
ness in the demand for SeaSonable
goods. and from most sections of the
country come reports of a marked ac-
tivity in jobbing lines having to do with
dry goods, millinery and footwear Cot
ton fabrics generally are in a strong
position. Wool does not display any
animation. though prices are main
tanned.
The cereals weakened during The
week, probably in sympathy with
wheat which experienced marked
drop on Thursday, in part as the re-
suit of heavy liquidation in Chicago
and in part owing to reports OF the
break of the drouth in California and
better news from other wheat growing
sections.
Wheat Gncluding flour) shipments for
the week aggregate 4,114O46 bushels,
against 4,39S, S21 bushels last week.
| 3. .679.O56 bushels in the corresponding
week of 1898, 1,629, ,434 bushels in 1921.
!. 100. 123 bushels in 1896, and 2,996,65o
bushels in 1895 Since July 1st this
season the exports of wheat aggregates
IN. .225. sol bushels, against l12,62o,oO
bushels last year.
Business failures for the week num-
her 205 an increase of % as compared
with last week, but a noticeable fail
ing off as compared with the corre-
spending weeks of the four preceding
wears. Failures in the Dominion OK
Canada for the week numbered only
81. as compared with 81 last week. <S
in the corresponding week OF last yeazk
SO IN 1897, 4Oin 1896. and 4S in 1885.