The record-union., 1899-12-23

| the season cnlely, ana perhaps diSo ~
the sentimental effect growing out sof
stringent money conditions in specula'
tive lines. may be charged some OF the
quietness noted. As above intimated,
however this Is less marked than in
preceding years. Just how much in
fiuence upon current bank clearings has
been exercised by money market devel-
opment and what effect anticipatiorfs
of interest payments on January LIST,
estimated to aggregate 500 100000.
! have had upon bank clearings, it would
/ be hard to state accurately.
Prices generally have shown sexcep-
tionals strength, the great majority of
staple quotations remaining unchanged
as a result of the weeks operations. AS
exceptions to this might be instanced
flour, pork, coffee and lead, which are
higher, while copper, cotton and tin
are lower War news and tight money
combined caused slump early in the
week in cotton, but the close found
prices of the actual staple, spot cotton,
only slightly below the opening. The
interior movement of cotton has failed
to expand and there are evidences that
foreign buyers covered heavily at the
decline.
|
the week aggregate 2,617,7 ia bushels,
against 3,20S64O last week, 5.515, 231 in
the corresponding week of 1898, 4,777,-
$50 in 1884, 2,111,702 in 1896 and g.,
457, 1871 in 1895. Since July LIST, this sea-
son, the exports of wheat aggregate
100, 373, $40 bushels. against 115, 236, OS4
last year and 1:.,,3, 556. 755 in 1897 -9S.
Business failures are fewer than or
dinarily at this season, though excep
tional money conditions caused some
few heavy embarrassments, and the
liabilities will swell the months total
considerably. The total number of en-
barrassments this week is I'll, as COM
pared with 211 last week, PIP in this
week a year ago and $50 in 1897. Ca
madam failures for the week number -,
as compared with % last week. "a in
this week year ago and 30 in 1897.
NEW YORK, Dec. DR.. G. Dun &
Co.'S Weekly Review of Trade" will
stay tomorrow:
The worst day in Wall street for
many years was in part the legitimate
result Of the best year in business ever
known, but the country has prospered
SO greatly and had so expanded it's
business that it could no longer afford
carrying stocks representing imaginary
values. The question was not one of
monetary supply. When the country
found ample use for its capital in regu-
lar trade and productive industry,
contraction of loans became necessary,
which would only have been more pain
full if the volume Of stocks had been
larger. Reckoning from the highest
general average last spring last year,
industrial stocks had fallen at the close
on Monday 23X7 per cent, street rail-
road stocks $500 per cent. and other
railroad and telegraph stocks only go
per cent
The business of the country close to
the holidays is necessarily smaller than
it has been, and yet larger than at the
same date in any other year. Ex-
changes through the principal clearing
houses for the week have been 33.7 per
cent larger than last year, and 5O.4 per
cent. larger than in 1892, including ~ /
per cent gain in payments outside New
York. There was not even a suspicion
of -unsoundness in any considerable
branch of industry or trade, the extra
ordinary expansion in some being as
we'll warranted as the material gain in
others.
The demand for. cotton goods is quiet,
and the price holds steady.
Wool sales have dropped sharply with
the monetary pressure, but prices do
not change, and the opening in heavy
weight goods retards it's present pur-
chase for mills. - -
Yielding appears at last in hides at
Chicago, in most kinds about a quar-
ter of a cent over recent advances.
Leather has been steady for hemlock
and other sole, but in satin grain and
kid the demand has fallen off suddenly.
High prices for iron are wonderfully
sustained, and though many works will
close for stock taking and the holidays,
While the furnaces do not stop, pig
shows no weakness. Prices ON finished
products change little, though more
concerns have reached the point of
competing for new orders, and there is
some weakness in sheets, because many
tin plate mills are to be closed soon
at the East, and in plates not of the
largest size competition is sharp, but
In bars the demand is somewhat i'm
proved, and structural works have con-
tlnued their combination for another
year without change in prices.
There has been less violent fiuctua-
ton in the London market for tin but
the closing price here is slightly lower
at AN. Copper declined little in spite
OF weak stocks at Boston. while lead is
scarce and firrner at $4.65. st
j Wheat has fallen, both in foreign de-
mand and in prices, in spite of still
greater loss in Western receipts for the
week, only 3,306,2S6 bushels, against T.
o4o,1IO last year. Atlantic exports
(hour included) have been in three
weeks only 1854, 433 bushels, against
Io,4lo,56S last year. The price rose
quickly on Monday, when other things
We're falling, but subsequently reacted
and closed n lower
Falures for the week have been 22O
IN the United States, against 25S last
year. ana 70 IN Canada, against II last
year.