Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-31

An era of scarcity, high prices and pre-
dictions that the United States had ceased
to figure exporter, came to an end
with the next TO record wheat crop of this
year. The bulls, tempted by the strength
of the cash demand. overstayed the mar
ket and suffered defeat in the early slump
of March and the collapse of the May
option In April. Cash wheat at Chicago
touched 1924, the highest point. IN Feb
ruray, fell to s61a cents in May, and receded
further to 77s cents in August on good
crop reports. Small offerings OF new wheat,
large milling demand, reports of famine
! in Russia and later disorders at Russian
ports induced a rise to 50 cents in Sep
TENDER but unexpectedly large Russian
shipments caused renewed weakness. The
year closes with cash wheat at Sass cents,
against N.1s at the opening. Corn was
lowest in January-42 cents-and highest
In May-64Ih cents-but has not lost much
strength since, despite the large crop.
Oats were highest in July-34A cents-and
lowest in September-25 cents. The coarse
grains developed a good export demand,
but wheat which had almost disappeared
from export trade last spring, and. to a
less extent, flour, Jagged behind Russia,
Canada and Argentina competing with
America in foreign markets.
Crops and Foreign Trade.
Record corn and sugar and next 10 record
wheat yields were features this year. Hay
and oats yielded largely, while potatoes,
barley, rice and cotton decreased heavily.
Good farm product prices resulted in a
money yield equal to the best ever before
recorded and with large exports of manu-
features, notably iron and steel, lumber
cotton cloth and provisions, swelled export
trade as a whole TO 81 500 900 Co., a sum
10 per cent over 1901 and per cent above
1903 the record year. Imports largely OF
manufacturers materials, will aggregate
about S,l75,o 10000, or 10 per cent over the
hitherto record year of 1904. A total trade
of So 775 10000 is indicated, a gain OF II pei
cent over 1904
Financial Records Favorable.
Though expanded by active stock, wheat
and cotton speculation, bank clearings re-
fleet in the main immense growth in trade
and industry. Monthly totals since Oc
tober, 1904 have been in the tens of bill
lions successive high records being strucl
in March, November and December Ever!
, month but May showed increases over tn,
best previous totals. For ninety-four citie
4 an aggregate of $4,000, 10000 is indicated
: or q per cent over 1904 and 20 per cen
Q pNtl AovAt year. New
Yorks total will be about $4,000 coo 900,
$ gain Of II per cent on 1901, while outsid
e that city gain Of IA per cent on last yea
and IS per cent over 1901 is shown. Failures
n fewer by per cent than last year, ar
!, only per cent more numerous than 4
: 1853, despite the larger number in bushes
= and the immense increase in activity. Liza
;, bilities, though swelled by numerous fnan
cial failures, due, apparently, 10 unsoun
or worse banking methods, and not
weakness in the general situation, are
e per cent less than in 1904 and smaller tina
d In any year since 1909, which they excee
by 20 per cent Stock sales aggregat
, 26o.0OOO0o shares, a gain OF ~ per cent o
1904, and about the same as in the recor
year of 1901, while bond transactions reac
sl,O20, 10000, par value, a decrease of pt
y cent from 1904, but gain OF SO per cer
: over 1901. Stock and Cotton exchange men
y berships sell at record prices.
Labor and Industry.
p Industry was unprecedsntsdly activ
while labor. conservauvsly managed, Wi
II busily employed; strikes were few. ana Il
A number rendered idle was the smallest 4
three years. Pig iron production broke
m records, with a total OF q 600 TONS a
N per cent gain on 1904 Iron ore shIpmen
aggregate s+c0oOO tons. q gain OF 80 p