Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1899-01-24
TRADE SITUATION GOOD.
Industries Resist Fairly Well the
Tendency to Unlimited
Expansion.
ENORMOUS BUSINESS DONE IN STOCKS.
Others in Volume of New business
Fewer Failures Than for Same
Period Last ~Year-Dun's and Brad
streets Reports.

New YORK, JAM. 25.--lne trade STU
alton as considered by II. G. Dun g. Co.
in their weekly review is as follows:
"A new year rarely opens brilliantly.
Too many traders have to wait for the de-
nan which in winter comes slowly. The
Industries resist fairly we'll the tendency
to unlimited expansion which some have to
meet. Speculation In products Is gaining
but little, while In stocks an enormous vol
ume of business results in continually
higher prices. The volume of payments
through clearing houses is extraordinary,
l2.7 per cent. larger than last year, 1858 per
cent. larger than In 1897, n SIS per
cent. larger han in 1892, v e the transac-
ions outside Of New York showing a gain
over 1892 Of 44.6 per cent. Speculation at
New York therefore cannot be the main
cause of gain. Difficulties between holders
of material and manufacturers continue to
hinder in some Industries, and in some
may prove seriously embarrassing, but the
activity is on the whole unsurpassed hith-
erto, and the volume of traffic is beyond
all expectations. In some branches con-
sumption is running beyond the producing
capacity, but In others 1t is hindered by
doubts about the future supplies and prices
of materials.
THE iron and steel manufacture leads all
others in the volume Of new business.
While production is much the largest ever
known, many of the works are withdraw
ing all quotations or naming ~prohibitory
prices in order to check orders which they
cannot fill for months to come, nj do not
want to accept at current prices. The
number of u works is rapidly increasing
as the heavy demand for materials covers
many months capacity. While finished
products are in very great demand, espe-
cially for car building and special works
at the west, the week shows no advance in
prices excepting 30 cents per ton in steel
rails at the east.
Failures for the week have been 249 in
the United States. against 3H last year,
and 50 in Canada, against 90 last year,
Bradstreet's Review.
Bradstreet's review says:
''The continued strength of staple values,
accentuated this week by further advances
in iron and steel and other metals, in cot
ton at the south and In lumber at some
western points, has undoubtedly added to
the confidence with which the outlook for
the ensuing year Is regarded. That this
confidence has a fair basis in fact will
be gathered from the reports received from
the iron and cotton goods trade, the firm
ness in cotton goods being of considerable
interest in view Of the depression ruling
throughout the larger part of last year.
THE iron trade situation remains, as for
some time past, a feature of absorbing in.
terest. Large as the production of pig
iron is. eager buyers are found apparent
ly for every ton offered. Most furnaces
are reported booked ahead on orders, an6
some advances are frankly stated to bs
due to the desire OF makers to discourage
orders incapable of fulhllment within any
reasonable period. A strong side light up
on the strength of iron and steel the worl6
over is offered by the statement that iror
In Glasgow this week reached the high.
est prices noted for ten years past. Fea.
lures of the domestic market lave beer
gains in prices of Bessemer and Southern
pig, steel billets, wire rods and steel rails
and in addition. copper. lead and tin are
all higher.
Little change il reportable in the
market for cereals, and the market fol
cash wheat still reflects the commanding
position held by the United States as the
supplies of the worlds wheat. notwith
standing the predictions of near approach.
ing competition from Argentina and from
Russia, shipments from which, particu,
larly the latter, do not at all accord witt
the liberal estimates of production pub,
lished some little time ago.. There Is a per
ceptible Improvement in the demand fol
dry goods, particularly cotton fabrics, 81
New York and Boston, where late advance,
IRE firmly held. There is also more doint
n dress woolens at those markets. TIL,
lumber trade at most markets. is in a salts
factory condition. The strength of price
Is u~nimpaired, and advances in white pin,
arc reported from the west, while in hart
woods values and confidence are alik
unchanged.