Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1899-01-05
"a YEAR OF VICTORY.
In F4nansia1, onsraercialg ana
Inlu4triaI Circles.

s New York, Dec. Sir 6. Dun & Co.'S
weekly review Of trade says: 1.-THE year 1898
has not only. been one OF victory, Of inn
Rortants increase in territory, and Of In
calcula able expansi of the influence of the
United States among all nations, but has
surpassed all other years in financial and
tndustrials 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, I. for the first time, banks
abroad look to New York to dictate the
rate Of exchange Exports have been about
81, 250, 100000 and the excess over imports
about s617,0O0000. against 1851, 000 600 in 1897,
and In only two! previous years has the ball
ance risen to $500, OOO, 900. In no past calen-
dar4.year have the net imports Of gold
reached SIS, 0OO. 900, but this year they have
been about $4,000 900. 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 a demand for breadstuffs and other
necessaries never before equaled.f Exports
Of cotton have been over 100000 bales,
about 3,936,000,000 pounds, and in mo pre-
vious year as much as 1000, 900 bales, or
$500, GOO pounds. Exports of breadstuffs
have been in value 1888 918, 1874 in II months,
and have never been as large in any other
year. Exports of wheat for the year. lack
ing day or two, have been 218, 1894, $3.50 BUSH
els, flour included, slightly exceeded only
by 225. 665,S12 in 1892. and Of corn 200,979, OF
bushels, only approached by 1S9,127,57O in
1887. The heaviest exports of both grains
and flour In any previous year were &c.
100000 bushels smaller, only 360,22O513 in
1897. Though wheat was, raised to 81. 81 in
May, the highest quotation with the
highest monthly average for 80 years,
1858. Is, SO that the average for the first half
year was $11111, exceeded slightly In 1891,
but the highest since 1883, the December av-
erage has been only Y cents Is cents below
that of last year, but the years average,
90 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 II, 645, 900 tons, the
greatest yet reached In any year by 2, 0OO, 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 pigs intten
months l63,Oo9 tons for unsold stocks were
reduced in II months $50, 900 tons. Exports
OF iron manufactures in ten months were
about $S7, GA, 5S6 in value, against imports Of
$l3.49z8l7. 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 ,63S failures in the United
States in 1898, involving liabilities of s141,-
lSl,ll7, decrease from 1897 in number of
LIZ per cent. and in liabilities OF 95 per
cent. Compared with 1896 and 1895 the pro-
portion of decrease shown is even larger.
and compared with 1896 failures were fewer
sbye.25 per cent and liabilities smaller by
81 per cent