The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-03-18
THE YEAR OF ALL THE YEARS.
THIS IS AHEAD OF ALL OTHERS IN
VOLUME OF BUSINESS.

Clearing House Payments Hair
,r,in as Large as Those of the
nest Business Years-Increase in
Exnorts of Manufactured Pro-
a,cts-Prices of Iron and Steel
Are Well Maintafned-The Wool
and Cotton Market.
N-aw York. March 1l.-R, G. Dun & Coz
v-ssxlv Review of Trade tomorrow win
say:
In business, this year cannot be COM
r,rsd with any other. II can be said that
n,vments through the principal clearing
houses for the past week have been 5I.4
ner cent. greater than in 1892, and ass per
cent greater than in 1885, but that exag-
eerates the gains in some branches of bus
mess. while in others it falls far short of
the gain. Thus the February exports of
manufactured products have about doubled
since 1892.
emitting New York clearings, where
speculation in stocks is most active, pay
ments through the other principal clear
ing houses for the same week show an ~
crease of 37.6 per cent. over 1892, and I'll
per cent over last year But without re-
gard TO such details, all realize that the
volume of business in all branches is the
greatest ever known
The national prosperity rests on moro
solid foundation. The exports of bread
gtufs, provisions cotton and oil in Febru-
srv showed decrease of s600O,000, but
other exports mainly manufactured were
los
year and were sufficiently large to cover
sixty per cent. of the entire imports. The
merchandise exports exceeded imports for
the month by 1924 III. the gold supply
increasing, and there appears no occasion
for monetary disturbance.
The treasury recorded its first payment
OF the $59OOO,OOO for the Central Pacific
Railroad having previously received $59,-
100000 for the Union Pacific, and over &c.
100000 for the Kansas Pacific.
Iron and Steel Hold Up.
Swiftly rising quotations for iron and its
products would be misleading, if it were
not kept in mind that more than nine
tenths of the iron manufacturing capac-
ty is engaged and will be until July or
later, in the execution of orders taken
months ago at low prices. If a million tons
of products go out this month, 100000 of
them will be at such prices as SIS to $40
for steel rails, at which the entire output
Of the Illinois Steel Company for this year
was sold some time ago.
1t hardly indicates the true character of
the iron business that less than 100000
tons are going out at such prices as s26
TO SIS per ton for steel rails made here for
small lots this week. Belated buyers now
have to pay fancy prices 10 get orders ac-
cepted at all. Withdrawal or postponement
of business because of high prices begins
to be significant feature, and much for
egn business is evidently lost, though there
are still sales for export, such as $500 tons
OF pipe for South America, and 5000 tons
OF bridge material for Burmah. The Con-
nellsvAle coke works. with an output of
l6l 24O tons weekly, and many operating
Sundays to catch up with orders have
advanced prices 15c only.
With Wool and Cotton Goods.
Wool sales at the three chief markets
have been only 4,3O5,6OO pounds, of which
2,76l,SO were domestic, against sos, 200 in
the same week in 1892, of which $500, 200
were domestic; but prices are soft, and
some dealers are said to have yielded as
much as, two to three cents per pound
cieah, because nobody can guess what eff
1ect the new combinations NAV have
frces are largely nominal, and yet there
Is somewhat better demand for goods
Nor has the strong demand for cotton
goods been helped by the weaker market
lor cotton, which has fallen to 637 cents
IN spite of volume of reports about the
Oad condition of the fate picked product
Inc price of goods has been strongly ad-
Vanced, and is held. but yet depends on
the price of cotton
Inc market which has lost most is that
Whlch has least statistical reason to lose
because no estimate of wheat in farmers
hands' March l. would provide more than
ABOUT last years exports and domestic de-
mand TO July l. The actual exports -four
included, from both coasts during the Dast
TWO weeks have been 1856, 1888 bushels.
against 7,S67,S92 last year But such ex-
ports imply foreign demand which is not
unlikely TO exceed last years. and the
corn exports are also little larger than
ldst year The Western receipts for the
ot.5 have been 9.S59,OOO bushels, against
z'o51,666 last year.
aliures for the week have been 1888 in
ule United States, against POS last year.
anu 81 IN Canada, against q last year