Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1899-01-11
UNCLE SAM fixes PRICES
The Center Of Financial Power for
the First Time Comes Across
the Atlantic.
A GREAT RECORD MADE IN The PAST YEAR
Expansion of Trade Is Most Re-
markable VictOry-Millions Loaned
Abroad, While Gold Imports In
crease - Breadstuffs in Demand
and All Lines Share in Prosperity.

Abroad. While Gold Imports In
crease Breadstuffs In Demand
and All Lines Share in Prosperity.
New York. Dec. 31.-R. c. Dun & Co.'S
weekly review Of trade says: THE year sSS
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 other 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 hOnOrahl end.
the country is lending SO many millions in
Europe that. for the first time, banks
abroad look to New York to dictate inc
rate Of exchange. Exports have been ABOUT
81 1885, 900. 900 and the excess over imports
about $617, 000 900. against 1857 10000 in 1897
and in only two previous years has the BAL
ance risen to $500 0CO, OO0 In no past calen-
dar year have the net imports of gold
reached 600, but this year they have
been about SAC, 900. November passed
all previous months in value of produce ex-
ports over imports, but December has gone
much beyond November.
Demand Uneuualled.
Power in the worlds markets comes
with demand for breadstuffs and other
necessaries never before equaled Exports
about 3936,00000 GOO pounds. and in no pre-
vious year as much as 100000 bales, or
$500, 000, coo pounds. Exports of breadstuffs
have been in value $3.50, 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 5SG BUSH
els, flour included. slightly exceeded only
by 225.665.Sl2 in 1892. and Of corn 2O0,979OH
bushels, only approached by lS9,12757o in
1897. The heaviest exports of both grains
and flour in any previous year were 81
100000 bushels smaller, only $780, ,513 in
1897 Though wheat was raised to $l.91 in
May the highest quotation with the
highest monthly average for 80 years,
$685. so that the average for the first half
year was SILL. exceeded slightly in 1891.
but the highest since 1883, the December av-
erage has been only u cents. Is cents below
that Of last year, but the years average.
90 cents, is the highest since 1881.
Due to Industrial Progress.
1.-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, DOC
tons, and greater than Great Britain ever
reached by 2,S0o,00O tons. Yet the con-
sumption in manufacture has been still
larger in spite of net exports of pig; in en-
months 1630S9 tons for unsold stocks were
reduced in II months $50, 600 tons. Exports
of iron manufactures in ten months were
about $S7 ,644. $50 in value, against imports of
sl249 3d.
Bradstreet's Report.
Bradstreets says: "Conc1sely stated, the
reports received as to the years business i1r
all sections of the country point to an un-
precedented volume of domestic and export
trade, which is reflected in bank clearances
that break the high record of 1892. The gen.
eral level Of prices of staples and securi-
ties at the close of the year is al the high
est point reached for five years past These
general results in the country at large have
been achieved, too, Notwithstanding the
outbreak and conclusion of foreign war,
and in spite, also, OF untaVOrable condl-
tons in some industries. notably textile
manufacturing, which. combined with un-
favorable weather early in the year and
the lowest prices for cotton on record. ex-
ercised an unfavorable influence But the
close of the year finds an improvement even
tr those directions, and returns as to retail!
trade, and particularly holiday business.
are strikingly good in all sections.
BEST reports as to distributive trade nat
urally come from the grain-growing Sec
tons Of the country, which were the first
to feel an Improvement resulting from free
foreign demand for our cereals, but 1ndi-
cations are not wanting that this improve
ment is gradually percolating throughout
theentire business community, and, coupled
with unprecedented export trade in man
ufactured goods and the fact that we are
selling two dollars worth abroad for every
dollars worth we buy, renders possible the
gains reported in distributive trade over
1897, ranging from 10 to 40 per cent, with
likewise good reports from the manufac.
turing centers excepting the textile indus
tries already mentioned. The export trade
of the country for the year, as above init
mated, is the heaviest ever known, and will
probably exceed 81 $50, 600 in value, thus
being nearly double the imports. Our ex-
port trade in manufactured goods it
might be observed, is the heaviest ever
| known, and for the first time in our coun-
try's history exceeded the value of imports
OF similar goods
The Record of Failures.
There were 1858 failures in the United
| States in 1898, involving liabilities Of $1A,-
| 1877, III, a decrease from 1897 in number of
| 11.2 per cent. and in liabilities Of 9.5 per
cent Compared with 1896 and 1895 the pro-
portion Of decrease shown is even larger
| and compared with 1896 failures were fewer
| by rs per cent. and liabilities smaller by
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