The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-07

Z
From New Great Industrfes Of the
country Are FavOrable-Finfsh-
ed Products, Notably in steel, In
Brisk Demand,
NEW YORK, Jan. 6.-Bradstreet's
tomorrow will say:
Inc situation is one Of quiet, sustain
ed strength. In wholesale and distrlb-
utiVe trade annual inventories have
occupied attention. and distribution in
lhls pranch Is. therefore, Of only sea-
Sonaple proportions. Retail trade re-
meets the quieting down of the eager
demand ruling before the holidays. but
II Is significant that the majority of
the reports received since Jan. l in
TINS ana In the wholesale branch refer
" conectlons as almost uniformly
good. Export trade, particularly in
cereals. continues well up to maximum
ngures. while reports from the new
great industries of the country are
favorable. The cruder forms of iron
ana steel have been in rather less de-
mand this week, at leading centers.
and large orders are few in number.
heavy consumers having pretty we'll
covered themselves for some months
10 come by their liberal buying in De-
cenber. In finished products, however,
ana particularly in steel, rather more
mas evidently been doing, this being
rehected both In advances at the East
and the prices of steel rails, steam
beams. plates and sheets. Some heavy
orders Tor railway account are report
ed booked. and the export trade con-
tinues OF liberal proportions. partly
aided. no doubt. by the shading in
ocean freight rates occurring during
the past month.
Aside from the aggressive strength
OF steel prices. quotations are little
changed from week ago. Good trade
reports. both at home and abroad, and
small receipts. coupled with more out.
side speculative interest have made
steadiness in raw cotton prices. while
In manufactured goods all the old
strength is maintained in print cloths.
and some other makes of cotton goods
have been slightly advanced. Returns
as to 1898 trade in most lines have
been favorable. and the opening Of
spring trade Is awaited with more
tran usual confidence. this feeling be-
ing particularly, marked in the lines
above enumerated and in lumber and
agricultural implements.
Bank clearings for the week reflect
exceptionally heavy annual settle
ments in a total of. s1,765, 900, 900, near
ly SAC, 100000 larger than ever before
reported; 25 per- cent larger than last
year; "a per cent larger than in this
week year ago.: 81 percent larger
than in 1897; 20 per cent larger than
In 1885, and 70 per cent larger than In
1894.
Business failures are exceptionally
small for the opening week of the new
year. numbering only 237. against 21S
last week, 1873 in this week a year ago,
4SS in 1897. 40 in 1895 and 405 in 1895.
The steadiness of wheat this week,
participated in by other cereals, finds
explanation in continued foreign buy
ing, the strength of the statistical po-
sition, the normal time for decreases
in American stock having arrived
with supplies still smaller than at any
corresponding date for ten years past
aided by favorable advices from Ar
gentine, whence minimum estimates
are again arriving. The worlds stock
of wheat on JAM. 1. as shown by tele-
graph and cable ,cadyices to Brad
streets, gained only 100000 bushels
over Dec. 1, against q gain Of $4,000, 900
bushels In November; and European
and American stocks combined on Jan.
l, 1899, aggregated only 118,949, 900 bush
els, 100000 bushels smaller than on
Jan. last year; 100000 bushels
smaller than on Jan. 1, 1897; 75.0OO,o
bushels smaller than On Jan. 1, 1895;
1, 1895, and -93,000,000 bushels
smaller than on Jan. 1. 1894, when the
maximum of stocks In recent years
was reached. Stocks in the United
States east Of the Rockies are the
lightest held for eight years past, and,
with the exception of 1891 are smallest
held for fifteen years past.
The December total Of bank clear
tngs proved a fitting conclusion to a
year Of unprecedented expansion In
many lines, in an aggregate for II
cities of $7,335, 511, 222, gain Of 1877
per cent over November's hitherto I'M
approached total; of 23.5 per cent over
December 1897; over 56.5 per cent over
December 1896 of SIT over the same
month of 1894, and of 67,2 per cent over
the same period of 1892. This latter
gain. too, was shown in spite of the
fact that the stock clearing house at
New York city is estimated to have
reduced the volume of yearly clearings
at that city by SO, COO 100000.
Wheat, including flour. shipments
for the week aggregate 6,62S,825 bush
els, against 6,292.625 bushels last
week; 3,481,5 SIG bushels in the CORE
els in 1897; 3,471 ,e81 bushels in 1896, and
2587,178 bushels in 1895. Since July 1
this year, the exports of wheat aggre-
gate 12S,388,977 bushels, against 1872
A43,2S4 bushels last year. Corn exports
this week aggregate 4.S44,S48 bushels.
against 3,659,745 bushels last week;
1856, 416 bushels in this week a year
ago; 4,s19,261 bushels in 1897; 1926, 423
bushels in 1896, and LOST, 4O6 bushels in
1895. Since July /, this year, corn ex-
ports aggregate S5,793.927 bushels,
against S3,802,73 bushels during the
same period a year ago.
Business failures in the Dominion Of
Canada number 26, against 16 last.
week. 48 In this week year ago, IS
in 1897 and 90 in 1896 and 1895.
YEAR REGINs AUSpICJOUSIy