The true northerner., 1899-01-18
BUSINESS OUTLOOK GOOD
Situation in Financial and Trade
Circles Continues to Be High
ly Encouraging.
RAPID ADVANCE IN PRICE OF METALS.
Country Was Never So strong Finan-
cisuy-No Evidence ut Weakness
shown IN Any Branch at Trade
Position Also Grows stronger in
the Line at Produce.

New York, Jan. Ar. q. Dun & Co.'S
weekly review OF trade says:
Contrary TO the commonly accepted
French saying. the expected i'm trade has
occurred. Rapid advance Ia prices OF iron
and steel products have had their imme-
date effect perhaps not TO the lasting ben
eft OF the industry. tor there IS the same
reason for doubt as TO It's permanence as
in 1885, when shrinkage OF buying and re-
action soon carried prices lower than be-
fore But there is now larger demand for
many other products, and without un-
wieldy combinations all are doing we'll
No Evidence at Weakness.
Throughout the country was never so
strong financially. as even governors OF
London banks admit, one stating that as
London had financed America here tofore,
now for the first time New York was
financing Europe No evidence OF weak
ness is seen in the other branches of in
dustry nor in those upon which the great
excess of exports most depend. Wheat
and cotton still go out largely Europe Is
buying because IL has needs and New York
is lending to Europe nobody knows how
many millions because there is for the
present no need TO call loans The receipt
of 81 500, 900 of gold from Australia Is an
nounced at San Francisco. Americans are
In the humor to invest in their own country
and have a great amount of money to put
out without recalling any OF their loans
tions ever known In the stock exchange
have occurred during the week without the
evidence of reaction for which many strong
operators have been looking.
Position Grows Stronger.
''In products also the position OF the
country grows stronger. Last years ex
ports OF wheat and corn were far beyond
all precedent, but the past week has seen
exports OF 4.235.6s6 bushels OF wheat. flour
included against 3.2l6470 last year from
Atlantic ports and in two weeks 9.452109
against 6.0S6. 7SS last year. besides exports
in two weeks from Pacific ports of l.724, ,05l
bushels against .009 last year. Mean
while corn exports have been IN two weeks
1888 bushels against 6.09l.57s last year
II is quite impossible to account for such
movements on the theory that at current
prices. this country is underselling the
world and has great quantities yet TO move
at similar prices There was an advance
of Ia cents in wheat during the week. but
one cent i'm corn without any indication
that supplies are running short.
Failures for the week have been Sl3
in the United States. against $40 last year
and q in Canada. against 40 last year
Bradstreets Review.
Bradstreet's says:
ITO the observer perhaps the most not
able feature OF the trade situa tion at pres
ent is the strength OF prices of nearly all
staples but particularly of cereals. cotton,
iron and steel. which have apparently
gained further ground since the first OF the
year Explanation of the strength OF
wheat is. of course. found IN the good cash
demand which seems TO meet any slight re-
action In values and which has placed the
price as high as at any previous time for
three months past This cereal and corn
are both in exceptionally good demand
abroad judging from the large exports re-
ported While large sales OF iron and steel
are not so numerous as in recent weeks.
further advances in prices. notably of pig
iron. steel bilets. plates and rods bear tes-
timony to the eagerness of buyers to Sc
cure supplies and the almost corresponding
indifference of the trade toward new busi-
ness order books of most OF the mills being
repoped well filled. Pig iron production
is the heaviest ever known but stocks
show further depletion The feeling of
confidence in the lumber trade Is unabated
and an active demand is looked for in the
spring. the strength of hard wood being a
particular feature in this connection.
Prices for boots and shoes are held stead
lily and the outlook is regarded as favora-
bic. Leather. too. is firm and hides are in
sympathy In other industries activity
is a feature"