The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-01-21

New York, Jan. 2O.-R G.. Dun and
Co.'S weekly review of trade will say
tomorrow:
A new year rarely opens brilliantly.
Too many traders have to wait for the
demand which in the winter comes
slowly. But the industries resist fair
ly well the tendency to unlimited ex-
pansion which some have to meet. Spec
ulation in products is gaining, but lit
tie, while in stocks an enormous volume
Of business results continually in high
er prices. The volume of payments
through clearing houses is extraordin.
airy, 42.7 per cent. larger than last year,
969 per cent. larger than 1897 and 51.1
per cent. larger than 1892, even the
transactions outside of New York
showing gain over 1892 Of 4i6 per
cent. Speculation at New York there
fore cannot be the main cause Of gain.
Difficulties between holders of material
and manufacture continue to hinder in
some industries and it may in some
way prove seriously embarrassing, bur
ed hitherto, and the volume of traffic
ia beyond all expectations.
In some branches consumption is run
ming beyond the producing capacity,
but in others it is hindered by doubts
about the future supplies and prices of
materials.
The woolen manufacturer is still
waiting with only a moderate demand
fCVs de T1n is
large and considerably larger than in
recent years. but does not nearly a.
proach the capacity of the mills. Sales
of wool for the past three weeks at
three chief eastern markets have been
16,495,s00 pounds against 22S, ,322, $40 last
year, and prices Of domestic fleece are
lower with present demands running
largely to quarter and half bloods and
Australian cross bred. But there is
not enough change in material or in
demand for goods to encourage heavy
buying by manufacturers as yet. The
cotton manufacturer has a large de-
mand for goods, but raw cotton has
so rapidly advanced that possible buy
ers apprehend a fall and there is hes
itation in the purchases of staples.
With receipts of cotton far ahead of
ever raised, there is no apprehension
that good qualities may fail short he
fore the year closes. Cotton remains
in the fields yet unpicked, owing to the
bad weather and it is detoriorating in
quality. The silk manufacturing, not
withstanding many threats of interfer-
ence and disputes about duties, seems
TO be making steady progress.
IN IRON AND STEEL.
The iron and steel manufacturer
leads all others in the volume of new
business. While production is much
the largest ever known, many Of the
works are withdrawing all quotations
or naming prohibtory prices in order
to check orders which they cannot fill
for months to come and do not want
to accept at current prices. The num-
Der Of such works is rapidly increasing
as the heavy demand for materials
covers many months capacity. Besse-
mer pig is a shade higher at 5000 with
sales of 25,00C tons at Pittsburg and
there is something like a famine in
grey forge, with sales ct 1915, although
one sale at 1895 in the valley is re-
ported. While finished products are
in very great demand, especially for
car building and ship works at the
west the week shows no advance in
prices excepting 80 cents per ton in
steel rails at the east.
These conditions favor continuance of
the extraordinary foreign trade which
resulted in TIE greatest balance in IA
vor OF this country ever known. Janu-
ary reports thus far indicate q similar
excess Of exports over imports, and
while wheat exports have increased
every month since last August they
have been in three weeks 1j,07S or
bushels, flour included, from both coasts
against III, ,Ss9,952 bushels last year.
Corn exports have been quite up to
last years unprecedented record,
amounting to 9,509,s99 bushels against
9,27o,1S9 for three weeks of January
last year. Although prices have de-
clined about n cent, the contest be-
tween spectators in wheat at the west
and at the east has held prices fairly
steady with an advance of cnly an
eighth for the week. Cotton fell to C
cents, but afterwards rose to 6.12. with
out satisfactory reason in leading, but
because Of apprehension that supplies
of good quality might fall short.
Failures for the week have been 241
in the United States against 374 last
year, and 32 in Canada against SO last