The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-21
ACTIVITY IS
UNSURPASSED.
And the Volume Of the New Years
Traffic Beyond Expectation,
IRON AND STEEL LEAD ALL
Works. Naming Prohibitory Prices in
Order 10 Check Orders Which They
Cannot Till-Graiu Exports
Continue Large.


NOW YORK. Jan. OR G. Dun q
Co.'S Weekly Review OF Trade VIII say
tomorrow.
A new year rarely opens brilliantly.
Too many traders have Co wait lot ine
demand which il winter comes Slowly.
The Industries resist fairly Wen tNf
tendency 90 unlimited expansion whch
Some have 90 meet Speculation ia pro-
duce is gaining bat little. while stocks
In an enormous volume of business rec
suits Boa continually higher prices inc
volume of payments through clearing
houses is extraordinary s27 per cent.
larger than .aat ,-ar 36.5 per cent. larger
than in 1896. and 5i.5 per cent larger than
ln 1892 even the transactions outside OF
New York showing a gain over Nv or
go per cent Speculation at New York,
therefore. cannot be- the main cause OF
gain. Difficulties between holders OF ma
torial and manufacturers continue 20
hinder in some industries. and in some
may prove seriously embarrassing. but
the activity IS. on the whole. unsurpassed
hitherto. and the volume OF traffic IS
beyond an expectations.
WOOLLEN TRADE.
1n some branches consumption .s rum
ming beyond the producing capacity. but
.n others 70 IS huiercd by doubts about
the future supplies and prices OF mate
rails The wo0licn manufacture lis still
waiting. with only a moderate demand
for goods as yet The production is
large and considerably larger than 800
recent years but docs not nearly ape
proach tho capacity of the mills. Sales
~ wo0'lcns for tho past three weeks az
The three centres 90 the eastern market
have been rs 900 0 pounds against o.
al2 97o last wear. and prices Of domestic
fleece are lower. with present demand
running largely go quarter and half
blood and Australian cross breed. But
there IS not enough change in material
or in demand for goods 10 encourage
heavy buying by manufactures as yet
COTTON ADVANCES.
The cotton manufacture has large
demand for goods but raw cotton has
so rapidly advanced that possible buyers
apnrehend a fan off. and there Us hesita-
ton in tho purchase of staples. WIN
receipts OF cotton far ahead OF iast
years from the grandcst crop then ever
raised. there IS now apprehension that
good qualities may fall short before inc
year closes.
Much cotton remains in tho fields yet
f,nni.kef 0n account OF bad weather
and IS dctor'0ratue in quality.
Tho silk manufactures notwithstanding
many threats of its interference and dis
nrtps about duties. seems to Dee making
steady pr0Frc
A GITT OF ORDERS
The iron and steel manufacture leads
an other en- volume of new business.
While production is much the largest
over known. many of the works are
Withdrawing an quotations or naming
rrohibit0rv prices in order 10 chech or
ders which they cannot fiji for months
fo come and do not want 20 accept az
nreeent prices The number OF such
works Is rapidly Increasing as the heavy
demand for material covers many months
canacltv. Bessemor pic SIS shade higher
a. 5000. with sales Of 25o00 tons at Pitts
hurg and there IS something like
famine IN Grey Forge. with sales M So ID.
although one sale at {9g9 in the Valley
IS reported
While finished products are in very
good demand. especially for car building
and special works al the West. the week
shows no advance in price excepting fifty
cents per ton I'm steel rails at the East
These conditions favor continuance or
the extraordinary foreign trade which
resulted iu the greatest balance that this
country ever knew. January this year.
indie .tcs "a similar excess of exports over
fmuorts and while wheat exports have
increased every month since last August
fhcv have been Boo three weeks laOlNOl
bushels. flour included. from both coasts,
against n 89g.2 bushels last year
corn exports have been quite zap 20 last
Years unprecedented record. amounting
10 $500 500 bushels against 92o1S9 for the
weeks OF January last Although prices
have declined about half "a cent contest
between Spectators in wheat mt the West
and no the East has held 2rices fairly
steady with am advance OF only am eighth
FOR the week
Cotton fen 90 cents but afterwards
rose 90 612 without satisfactory reason
in trading but because OF apprehension
shat supplies Of good quality might IAN
short
Failures for The week have been 2is IN
tho United states against 21 las, year,
and 80 in Canada against So last year.