The Billings gazette., 1899-01-03
Annual Review Of the Trade Of
the United States as Re-
ported by r. q. Dun.
AN IMPORTANT ONE
From Many Points Of View-Finan-
cial Power on This Side "A
Triumph in Finance.

New York, Dec. 3O.-R. G. Dun &
Go. IS weekly review Of trade will say
in tomorrow's issue: The year 1896
has not only been one Of victory, of i'm.
portant increase Of territory and o1
incalculable expansion of the influence
of the United States among other ma.
tions, but has surpassed all other years
in financial and industrial results. The
center Of financial power has crossed
the ocean. After paying debts oi
several hundred millions abroad and
conducting war to an honorable end,
the country is lending so many millions
in Europe that for the first time the
banks abroad look to New York to die
tate the rate of exchange. Exports
have been about 81. 250, 900, 900 and the
excess over imports about $617, ,000,-
900, against 1857, 100000 in 1897, and
only two previous years has the balance
risen to $500, 100000 In no past cal
endar year have net imports of gold
reached $75, 900, 900, but this year they
have been about $40, 900, 900. Novem-
ber passed all previous months in value
of produce exports over imports, but
lI0CO1lOOl 106 SOAAO HuOA D0y
November. Power in the worlds mar
ket comes with demand for bread
stuffs and other necessaries ever before
equalled. Exports Of cotton have been
over Z, 700, 900 bales-about 1896, 900, :
900 pounds and in no previous year an
much as 1000, 900 bales, or $500, 900, :
900 pounds. Exports of breadstuffs
have been in value 1888, ,91S,294 in
eleven months and have never been as
large in any other year. Exports Of
wheat for the year, lacking day OF
two, have been 21S.594, 6S6 bushels,
-four included, slightly exceeded only,
by 225, ,665, 812 bushels in 1892, and Of
corn, 2OO,979,O77 bushels, only ap-
preached by 189, 1877, $40 in 1897 The
heaviest exports of both grain and flour
in any previous year were $4,000, 900
bushels smaller, only 6O,22O, 513 in
1897. Though wheat was raised to
$1.91 in May, the highest quotation,
with the highest monthly average for
thirty years. 1928, SO that the
average for the first half year was
111.11. exceeded slightly in 1891. but
the highest since 1894. The December
average has been only 70 cents, 30
cents below that Of last year, but the
clear average of 90. cents is the highest
since 1881.
The triumph has been largely due to
industrial progression. The output of
pig iron was about II, ,645, 900 tons,
the greatest yet reached in any year by
two million tons, and greater than
Great Britain ever reached by 2.S00,
900 tons. Yet the consumption in
manufacture has been still larger, in
spite of net exports Of pig in ten
months, 163, ,O89 tons for unsold stocks
were reduced in eleven months, $780,
900 tons. Exports of iron manufac-
lures in ten months were about $751;
644, ,536 in value, against imports of
$l3,497.817. The prices shown for the
year in the table comparisons have
been unusually steady, varying not 5
per cent for pig to the lowest, to the
highest and for finished products not 6
per cent.
Textile industries have been retarded
by high prices Of wool and abnormally
low prices of cotton, both deterring
purchases. In three months cotton
reached So. 81, the lowest price for fifty
years, the greatest yield ever known
being followed by receipts since Sep
tember of 357, 900 bales larger than last
year. Exports have increased, but not
as greatly. Toward the close recovery
came with accounts Of some destruction
by storm, and the price reached $5.87,
giving strong impulse to the manufac-
ture, so the takings by northern and
southern spinners in the calendar year
have been 3,425, 200 bales little greater
than in any previous crop year. Goods
were reduced in price 8 per cent to the
middle of November, but have risen Z
per cent and closed at the highest point
for the year, In spite of the enormous
stocks held, wool was so lifted that
buying both of wool and goods was
checked early in the year, but slow de-
cline began in February. Sales have
been only 232, 451,l31 pounds at the
chief markets, SO that mills have prob
ably used less than full years supply
and the stock of goods was also exces-
sive year ago.
Failures in the United States for the
week were 252. and in Canada %;
total, 274. against 189 last week, 292
the preceding week, and 416 the cores
ponding week of last year, of which 395
were in the United States and 81 in
Canada. OF the failures in the United
States, IA have liabilities exceeding
$4,000. and l78 liabilities less than
$1,000. For four weeks of December
the total liabilities Of firms failing were
I'll, ,697 ,605, against $10.366, $50 last
year.
Young Mnthers.
Group is the terror Of thousands of
young mothers because its outbreak is
% agonfzing and frequently fatal.
6hilohs Cough and Consumption Cure
:. = 2 4 a