River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1899-01-05
A YEAR OF VICTORY.
Not Only ON the Field of Battle Hut
In Financial, Commercial and
Industrial Circles.

| New York, Dec 31.-R. G. Dun & Co. s
weekly review OF trade says: THE year 1888
| has not only been one of victory Of i'm
| portant increase in territory, and of in
| calculable expansion OF the influence of the
| United States among all nations, but has
/ surpassed all other years in financial and
/ Industrial results. The center of financial
/ power has crossed the ocean. After pay
! ing debts of several millions abroad and
/ conducting a war loan TO an honorable end,
/ the country is lending so 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, Csc, 00,000 and the excess over imports
about $6l7 900, against 1851, 600 in 1897,
| and in only two previous years has the bal
/ ance risen 10 $500 100000 In no past calen-
| dar year have the net imports OF gold
reached SIS, 600 600. but this year they have
been about sl40,00000o. 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 Exports
| of cotton have been over 100000 bales,
| about $685., 900 pounds, and In no pre-
! vious year as much IS 100000 bales, or
| $500. 600 600 pounds. Exports of breadstuffs
have been in value s2S3, 9lS, 294 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 2lS,594 $50 BUSH
els. flour included, slightly exceeded only
by 225, $685. 12 in 1892. and OF corn 2J0,979,O77
bushels, only approached by 1S9, l27, $40 in
| 1887. The heaviest exports of both grains
and flour in any previous year were 3d.
! 100000 bushels smaller. only 360, 0,5l3 In
! 1897 Though wheat was raised to sl.9i in
May, the highest quotation with the
highest monthly average for 30 years,
| Sl53.23, so that the average for the first half
year was $ll1.l1, exceeded slightly in 1891,
but the highest since 1888, the December av-
erage has been only 70 cents 25 cents below
that of last year. but the years average.
80 cents, is the highest since 1881.
1.-THE triumph in finance has been largely
due to industrial progress. The output of
pig iron has been about ii, 600 tons. the
greatest yet reached in any year by 1000 600
tons, and greater than Great Britain ever
reached by 1000 tons. Yet the con-
sumption In manufacture has been still
larger in spite of net exports of pig; in ten
months 163, 0S9 tons for unsold stocks were
reduced in IL months $50, 600 tons. Exports
of iron manufactures in ten months were
about $S7 6i4 1856 in value, against imports Of
SIS, 497,S SIT. 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 6 per cent"
There were II ,63S failures in the United
States in 1898. involving liabilities of SILL
l3ill7, a decrease from 1897 in number of
1l.2 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
by 25 per cent. and liabilities smaller by
g. per cent"