The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1899-01-07

Not Only ON, the Field of Dnttie nus
In Financial. Commercial and
Industrial Circles.

New York. Dec. SIR O. Dun g. Co.'S
weekly review OF trade says: The year iHs8
has not only been one OF victory, OF Inn
portant Increase in territory. and OF IN
calculable expansion OF the influence or the
United States among all nations. but has
surpassed all other years In financial and
Industrial results. The center OF financial
power has crossed the ocean. After pay
Ing debts OF several millions abroad and
conducting a war loan TO an honorable end.
the country Is lending so many millions I'm
Europe that, for the first time, banks
abroad look TO New York TO dictate tho
rate OF exchange. Exports have been about
81. 250, 100000 and the excess over Imports
about s6i7 100000. against sS51,ooo.ooO In 1877.
and I'm only two previous years has the ball
ance risen TO sSoo.ooo.ooo In no past caien-
dar year have the net imports OF gold
reached s75.000.000. but this year they have
been about sl40. 100000. November passed
all previous months I'm value of produce ex-
ports over imports. but December has gone
much beyond November.
Power In the worlds markets comes
with a demand for breadstuffs and other
necessaries never before equaled. Exports
OF cotton have been over 100000 bales.
about 1896 100000 pounds. and I'm no pre-
vious year az much as 100000 bales, or
$500. goo. 600 pounds. Exports OF breadstuffs
have been In value $3.50, 9lS. 2si I'm IL months.
and have never been as large In any other
year. Exports OF wheat for the year. lack
ing day or two. have been 2iS. 594. CSC BUSH
els. -four included, slightly exceeded only
by 225, 66J. Si2 In 1892. and OF corn 200 979.0T
bushels. only approached by 1S9.i27. $40 I'm
1851. The heaviest exports OF both grains
and -four In any previous year were &c.
100000 bushels smaller, only 800. 200. 5i3 In
1897. Though wheat was raised 20 si.9i In
May. the highest quotation with tho
highest monthly average for % years.
sl53.23. so that the average for the first half
year was Siil.ii. exceeded slightly I'm 1891.
but the highest since 1883. the December av-
erage has been only " cents 25 cents below
that of last year, but the years average.
| 90 cents, is the highest since 1881
1.-THE triumph In finance has been largely
due to industrial progress. The output OF
pig iron has been about l1,Gi5.000 tons. tho
/ greatest yet reached In any year by 100000
/ tons, and greater than Great Britain ever
reached by 100000 tons. Yet the con-
sumption In manufacture has been stilt
4 larger in spite OF net exports OF pig. I'm ten
months l63.OS9 tons for unsold stocks were
! reduced In II months 1000 tons. Exports
or iron manufactures In ten months were
about sS7 GA. $50 In value. against imports or
/ SIS. i97.SlI Prices shown for the year In thu
table OF comparisons have been unusually
steady. varying not per cent. for pig from
the lowest 10 the highest. and FOR finishe II
products not per cent"
There were li.G3s failures IN the United
States In 1888. involving liabilities OF $1ii.-
I lSiil7. decrease from 1887 In number or
IL per cent. and In liabilities Of 95 per
cent Compared with 1896 and 1895 the pro-
portion OF decrease shown Is even larger.
and compared with 1896 failures were Tower
by % per cent and liabilities smaller by
/ ga per cent