Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1884-01-10
THE YEARS TRADE.
Commercial Condition of the United States
"A Formidable ListOf Financial Wrecks
The Depressed State OF the Iron and
Steel Industry.

ne cOnciuulnS week IN december which
is generally the dullest of the year in mer.
camille and industrial circles, has proved
no exception to the rule in 1888. Reports
from leading trade centers show that the
merchandise movement has been much
slower. The general feeling appears TO be
an unsettled one. Traders in all lines con.
TESS to no anticipations of special activity
IN the near future.
THE LIST OF FINANCIAL WRECKS.
The commercial wreck list of the year is
a formidable one. The following table
gives the total number of failures reported
during each of the last five years:
1879: 1880 1881. 1882. 1888.
Canada and Prov2,075 $50 COZ 642 1850
The table below gives the failures dur
ing each of the two last quarters of 1881,
1882 and 1888:
1881. 1882. 1888.
No of failures fourth quarter ], 5Oj 2,267 2,S29
No OF failures third quarter. ,14O 1908 2,O62
No. OF failures six months. .2,6s5 1925 4S9I
The returns of to-day and Monday will
increase somewhat the total for the last
quarter OF 1888, and, therefore, Of the years
total.
IRON AND STEEL.
The year 1888 has been less satisfactory
to the iron and steel trades than it's prede-
cesSor The latter comprised a prolonged
strike at W estern iron mills and q steady
reduction in prices. This year has brought
no such disturbing labor agitatiOns, but has
continued the contraction of prices below
limits which We're thought to rest on bed
rock. The decline in prices of pig-iron has
been from $3.50, January l, to S20(G20.50
cash for foundry No. TX. EARLY last
spring contracts for rails were offered at
S3S. and III the summer at $3.50. By fall
the figures had settled to $50 so. though not
announced. November prices were revo-
lutiOniZed by the Lackawanua COmpany's
cut to $50 at the mill. Excessive prOduc-
ton OF steel-rails unduly stimulated by
the phenomenal railway building of pre-
ceding years, combined with other and ar
tifcial aids, have caused this. The result
was the forced closing Of several mills and
the reduction in wages of nearly if not all
from 10 to 10 per cent. ImpOrtatiOns of
British steel rails have rapidly declined.
Receipts for eleven months are 63,5I9 tons,
against 167,142 tons in eleven months of
1882, and 49,, 00l tons in 1881.
ANTHRACITE COAL.
The anthracite coal trade closes the wear
in a moderately satisfactory condition to
producers. The preceding year was more
satisfactory than 1888, owing to the scale of
prices at that time having been steadily
rising one, while in 1888 it has been falling.
Notwithstanding this the trade is in gen
orally healthy state. States in the West
have exceeded those of any other years
and promise to increase in the future. The
total output OF anthracite coal lin PeunSyl-
vania) from January to December %. was
30, Sl4, 223 tons, as compared with IS, I76, POI
tons in like portion of 1882. The outlook
for the production during the remainder of
December is approximately 250.O0O tons.
This points to total production of anthra.
cite for this year of u ,064 coo tons, as COM
pared with 26,120,OO0 tons in 1892.
THE WHEAT CROP.
Floods and drouth fell upon the winter
wheat crop of 1892 and 1888. Rust and pest
crept in, and, as shown by the Govern
met T2DOTtS. the harvest 100 0(lO. 900
bushels short of that in the preceding year.
This ranks the total, allowing a slight gain
for spring wheat, at about 400, OOO,O0O bush
els, as against 502, 900 900 in 1872 and $685.
100000 in 1891. There were 1S6, 500, 600
bushels reported as wheat and flour in 1885,
81. In 1872, 121, 100000, and in 1928,
l02, 100000 bushels. Since July exports
have been restricted and prices relatively
| low The visible supply has increased
! beyond all precedent being to-day
in excess Of 100000 bushels, as
| against Is, 41S,015 bushels July l. Farmers
have sold their wheat freely and appear to
| be still doing SO. The gross exports from
| the crop of 1928 have been Ito December
10 from July y but 50,910, 918 bushels, as
! against 81, lO3,II2 bushels in a like part of
1882, and 43,415, 921 bushels in 1881, and still
| Russia, India and Australia are offering
| grain cheap for future delivery. The price
| Of wheat (NO. red al New York; opened
in january at about 1.1315, advanced to
| Sill February ., to $l.1425 February II and
|
| Sl112G.
! CORN EXPORTED.
| The exports of Indian corn have been on
| q more liberal scale than those of wheat,
| but less than formerly. The total from
! July l to December 1 is 24,S07,1 ITO bushels,
| as against 3, 729, T24 bushels in like period
Of 1882. In 1928 the exports aggregated
were Al ,655, G53 bushels of corn and meal
againt 44,34O,6S3 bushels in 1SS1-S2, and 49,
! 5S4, IA bushels in 1SS0-S2, and 93,64S, IA
/ hV,,l ,1l- oE ~,
! January last was 67@ cents. February 6
| it was 728 cents, and February II, "A cents.
! To-day it touched 81 cents.
THE PETROLEUM INDUSTRY.
This year has brought decreased pro.
| duction of oil, and has shown uniformity
| of the tendency of the various petroleum
! districts to yield less and less, and has ne
| cessitated the drawing on stocks through
| August, September, October and NOvem-
Der, and naturally developed a higher
range of prices. The exploration of the
''regions" has been very great, with but
little encouragement thus far as to new and
| rich fields of oil. The main hope in that
! direction lies in the statement that unex-
pected deposits have been discovered.
! Others may be following. On the prime of
and after that the Cherry Grove tract,
| and the average annual price of crude
pet barrel at the wells was in 1881
! down to 94& cents; in 1881, to So p
year thus far the average annual price is
S1.06 per barrel. The average daily pro-
ductiOn this year, to December %, has been
2,730,0 900 gallons, and the exports /, 100000
gallons. The average daily quantity added
to stocks has been 5000 gallons, which in
| dictates an average daily home consumption
of 1,2H 900 gallons during the year to De-
cember %. Exports from the United States
from January to December % aggregated
49S, 1871 ,2I9 gallons (actual), against 400
49, S2 gallons (crude) refined, naphtha,
ETC., in like period in 1882. New York
continues to monopolize the trade. its share
of these exports being 40S, 00i ,522 gallons
in 1888, against 312, ,02O gallons in 1882.
Boston, Philadelphia and Baltimore this
year, to December %. exported sc, 1865, 697
gallons, against 1O2, $3.50, 462 gallons last
year.
THE COMING YEAR.
As things are now, there is no adequate
reason for concluding that the business OF
the country is to find a still lower level in
1884, but on the other hand the enforced
stopping of mills and further reduction
Al