The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-02
ADVANCES IN SECURITIES
REMARKABLE GAINS IN VALUE OF
RAILWAY AND OTHER STOCKS.
Decidedly Optimistic View OF the
Financial and Commercial OutIoOk
Taken by Banker CIews.
Special to the indianapolis Journal.

Special to the indianapolis Journal
WASHINGTON, Jan. 1.-That the man.
ufacturers of the United States and those
depending upon them have been exception
ally busy in the year just ended is shown
by some figures relating to the imports OF
manufacturers materials and manufactured
goods just compiled by the Treasury Bu-
reau of Statistics. With large irnportations
OF manufacturers materials and small i'm
portations of manufactured goods. and. ac-
companying this, an abnormally large de-
mand at home for manufactures, it IS an
parent that those engaged in their produce
ton must have found constant occupation.
-Four great classes OF raw materials are
habitually and necessarily brought into the
country for manufacturers use-raw silk.
India rubber, fibers and hides. If the i'm
portations Of these show a marked increase
1t must be accepted as evidence of increased
activity on the part of manufacturers. It is
interesting, therefore, to compare the figures
or the eleven months importations in these
great classes with those Of earlier years.
The figures covering the eleven months show
that in hides the importations have been
largely in excess Of any earlier year. the
total value of hides imported in the eleven
months of 1898 being $36, ,20S, 400 against $780,
zoz'5of IN the corresponding months of last
year and Sl7,915,32S in the corresponding
months OF 1896 The number Of pounds i'm
ported in 1898 were, in round numbers. 90
O03, coo in excess. of soorqpspordlng months
of 1897 India rubber, of which large ouan-
titles are used by our manufacturers shows
in evelen months of the past year a value Of
$22, ,57S against $19 go 633 in eleven months
Of 1897 $l2964,693 in 1896 and S17. .423.S4S IN
1885. Raw silk, for the ten months ending
with October, amounts to $21, $40 225 in value.
against $2OS29,996 in the corresponding
months of 1897, and $10529, S37 in the corre-
spending months of 1885, being thus, in ten
months of 1898, more than double that Of the
corresponding period of 1896 OF hbers the
importations in the eleven months ending
with November amounted to S15542.211.
against $l2, 2,305053 in the corresponding
months of the preceding year. and $l1 3zS50a
in the eleven months of 1896.
In all of these four great articles i'm.
ported for the use of manufacturers It VIII
be seen that the importations of the g,k1ar
for the period covered by the above fig
ures have been in excess Of the preceding
years, rubber being 80 per cent. larger than
in 1894, silk so per cent. in excess Of 1893,
hides more than double that Of 1896 or 1884,
and f1beTs 50 per cent. in excess Of 1894 When
this increase in materials imported for the
use of manufacturers is considered in con-
nection with the fact that the importa-
tions Of manufactures have fallen in the
year just ended from $2S3O00000 in 1897 10
O00 in the past year It will be seen that
there is good reason TO believe that the
manufacturers have been exceptionally busy.
In addition to this the figures of the Treas
ury Bureau of Statistics show that the ex-
ports Of manufactures in the year just end
ed Will be more than $20O0O,O0O in excess OK
those Of any preceding year. and will reach.
in round terms, an average of $l.000,O00 a day
for every business day of the year.
In only single article among the importa-
tons for manufacturers use has the year
1898 failed to show an increased demand.
This single article is wool. The imports of
- .ol in 1897 were abnormally great by rea-
son of the importers bringing in all the for
eign wool available prior to the enactment
of the tariff law of 1897, which transferred
wool from the free to the dutiable list. The
wool importations of eleven months Of 1897
amounted TO 337, ,9S2, ,264 pounds, against 133,-
$50 ,265 in the corresponding months of the
preceding year, and against an average Is
tie corresponding months Of earlier years
of less than half that quantity. IN other
words a full two years supply of foreign
wool was brought into the country In the
calendar year 1897 and it is not surprising,
therefore, that the eleven months of 1898
show imports of only 951l4620 pounds It is
thus apparent that the small im>ortations OF
wool in 1898 did not indicate a lack Of ac~
tivity on the part Of woolen manufacturers.
since they evidently had in hand, when the
year began, full ordinary years supply,
and the fact that 100000 pounds have been
imported in eleven months OF 1S9S in addi-
ton to the large stock on hand at the end
OF 1897 indicates an unusual activity on
their part as well as on the part Of all other
manufacturers.