The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-25
DUN'S WEEKLY
REVIEW OF TRADE
The Situation Is Absolutely Without
Precedent.
BUSINESS NEVER BETTER
Failures Are Smaller Than For Many
Years Past.
ALL SIGNS ARE NOW FAVORABLE
For Continuation of the Prosperity
Which Now Exists Throughout
the Entire Country-Trade in
All Its Branches.
ALL SIGNS ARE NOW FAVORABLE

New York. February A.-R. q. Dun &.
Co., in their weekly review of trade, will
say tomorrow:
The situation is without precedent. Busi-
ness has never been better on the whole,
and in some great industries the gain is
astonishing. Exports surpass last years
as much as imports, though the excess over
imports then was heavy. Failures are
smaller than last year, and smaller than
in either of six years past. Stocks are
stronger, the average for the active rail-
road securities being little higher, and
for trusts much more, owing to the ex-
traordinary advance of $4S.75 in Tobacco.
Payments through foreign exchanges show
a greater volume of business than ever
before at this season. and nearly one-half
larger than in the best of previous years.
The outgo of breadstuffs and cotton con-
tinues heavy. But there are some who
fear that such prosperity cannot last.
Popular Impressions have to be recl1oned
with, because they control events. Yet at
every point of danger except one the signs
are in every respect favorable. The up
ward rush of 1876 per cent in the price of
pig iron since January l, and 176 per cent.
in prices of pig iron and steel products,
does indeed raise question whether ex-
ports of such products may not be tenn
porarily checked; but IL they could be en-
tirely stopped, as they are not, the balance
due this country would still be large. The
crush of demand for finished products at a
time when nearly all the works are crowd
ed by orders covering production until July
1 or later cause many to refuse to con-
tract beyond that date except at higher
prices, and a rise under such circumstances
may prove the one thing needful to sober
buyers and to bring into the list of prod
ucts other Establishments heretofore idle.
Anxious to Maintain Hold
While fairly large capacity of produc-
tion is still in reserve, the demand now
pressing for cars, vessels, bridges, build
ings and pipes is partly to anticipate
rise in prices The best sign is that the
great producers Sppear to be anxious to
maintain their hold on foreign markets,
although just now unable to take orders
for future delivery.
1t is a sign of similar import that the
boot and shoe manufacturers just at this
time seek better markets by a somewhat
general reduction of 2h cents in prices,
although leather averages slightly higher.
A great many factories have been out of
work and sales at a reduction do not cover
all grades of goods. Nobody can judge
what the clothiers can buy as yet, and the
wooden manufacturers have very I'M
certain market ahead, but judge that there
will be a heavy demand for goods before
long, and many of the smaller mills are
looking to chances in the wool markets.
Little weakness is there seen except for
fleece and in quarter and three-eighths
blood and combining wool prices are gen.
orally strong with scarcity of supply; but
sales for thee weeks have been Is $50 200
pounds against "a, 753,5 500 pounds two years
ago.
Cotton goods are stiffening. The prices
of staples, in their line, as well as OF
fancy goods, gives the highest confidence
of dealers. Cotton has sold an eighth
lower, although the material decrease in
receipts and large exports still give hope
of an advance.