The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-01-01
slo6, us 1851. $50 $2O2, 1856 1919, $50

$500, 800, the total Tor the whole or 1888 was
1921. 150, an increase of nearly $3.50, 900.
Although the valuation of property has de-
clned very little there has been reduction in
the rate of rents proportonate with the general
decrease in prices, and there has been smaller
demand for the larger dwellings. THE average
reduction of the rental rate" Mr.. Alexander
Metzger, the real estate agent. stated to Jour
nal reporter, has been about twenty per cent.
less 'h0n the charges were in 1883.
:, nat was the principal cause or the reouc-
tom" was asked.
The general financial stringency," was the
reply, twas the principal cause. Renters want
the smaller houses. and IN consequence, to pre-
vent the larger dwellings from standing unoc-
cupied, it has been necessary TO reduce the
charges There are more vacant houses than
there were year ago. The renters are crowd
ing into rooms and using less space The
rental business is not active as it was this time
a year ago"
DO you expect any change for the better, or
is there likely 10 be any advance in rents!
Il don't think that there is likely to be any
improvement soon. although there may be In
the spring / think that there is more likely !
to be further decline in rents than an advance"
Are as good prices obtained for property as
10 1881"
s"There has been TO material reduction in the
valuation but during the last few months there
have been fewer sales. The appraised valuation
of all the property in the city is now SOL Oo3O oO
of which $22 877 200 is upon real estate, $l7,2S4.
200 is in improvements, and $l3 S9l 900 is in per-
sonal property. The rate of taxation is 81. y on
800 of valuation, and the total levy amounts to
$659.44 7.2l The rate of tax is proportionately
lower than in most cities which have no heavier
expenses to bear"
MUNICIPAL AFFAIRS.
The administration of the municipal govern
ment is of the most vital importance in relation
to the prosperity of the CITY, and the matter has
begun to attract the attention OF business men
and capitalists more than in former years. THE
af o;4xr fharI
of a business firm corporation.
the secretary of the Board of Trade |
remarks lis largely dependent on |
enterprise, economy and the exercise of sound
business principles. 1t is misfortune that poll
ties should be allowed to enter into the manage
ment of municipal affairs. There Is no more
reason why Republican or aDemocrat, because
neis such, should be chosen to govern the city,
to make its ordinances or to collect and disburse
its taxes. than that politics should be considered
in managing a railroad, banking or manufactur-
ing company The sooner the city OF lndianapo-
isean adopt sound business governments, indie.
pendent of all political influences, the better"
L. is altogether likely that in the future more in
terest in the local elections will be manifested
by business men, and more attention will be
gwen to the affairs Of the municipal govern
ment.
The future prospects of Indianapolis are en-
couraging. It's possibilities as center Of trade
are apparent from the many advantages with
which it is surrounded, and these possibilities
vantages may be improved There is no city IN
the country more fortunately surrounded with
natural resources or more advantageousiy opened
to its surroundings The mortality report shows
that it is one of the most healthful cities in the
country. With caution and prudence IN the
management of business affairs there is no reason
why it should not not be prosperous. even at
times when other commercial centers may sui
fer, because it is exceptionally well balanced In
all times.
EFFECT OF rEoLIN1NG PRICES.
There is little to be feared in the future from
the financial depression of the last year. 1t has
had no seriously harmful effect upon the gen
eral prosperity. 1t has caused no great con-
traction in the general volume of commercial
traffic. Market prices have been reduced to
nearer intrinsic value, and profits have been less
in proportion to the amount of business done,
but there have been no more failures than in
ties of inflated prices. An equitable relation
of supply and consumption has been reached,
and it is believed by conservative business men
that it would not be bad thing for the country
If it should continue upon the same even sound
basis that it now is running. There is no ma
terial prosperity in high prices. There are few
business men in indianapolis who are dissatisfied
with the volume of trade Their only complaint
is slow prices" However, there is no complaint
of losses, and the per cent. of business
failures is no greater than In previous years
It is commonly recognized fact that prices and
set values have been too high. They have en-
abled the few TO accumulate enormous fortunes
at the expense of general prosperity. 1t is be-
Ieved that there should be decline to an equita-
BILE common plane. and it seems inevitable that
prices should fall lower where they are now
higher than they properly should be. There is
an indication of the approach to this condition
in the concessions to the popular demand for
cheaper amusements-not poorer in merit. but
cheaper in price new basis of business, ad-
justed by the natural laws OF commercial in |
tercourse, WILL it is the hope OF many OF the |
conservative men, be the result of what is called
the financial depression" of the last year.
SECRETARY BLAKE's OPINIONS.
Although not enthusiastic over the general |
condition the leading business men of the city, |
it is found from interviews with them by a |
Journal reporter, are not dissatisfied with the |
result of the years trade, and. with few excep
tions, the prospects for the future are regarded
by all as favorable.
Everything considered said John G. Blake |
secretary of the Board of Trade. when asked his |
views. business is in a fair condition. |
There has been no special boom in
any line, but matters might be worse |
Few, if any of the conditions exist which ordi-
narly accompany business panic. 1t is useless
to speculate upon the cause of the general de- |
preston which has prevailed throughout the
country during the year it cannot be attrl ou- |
ted to any single cause, or to the approaching
change in the administration OF the government
The shrinkage in values began over three years
ago and has steadily continued. The stimula-
alton of railroad building and manufacturing
which followed the panic of 1873 eliminated IN
1881 when two years of short crops disclosed the
fact that we had more railroads than could show
dividends and more goods manufactured than
could be consumed The shrinkage was general
upon all classes of stocks and bonds, and upon
all manufactured products. The result of these
shrinkages was the failure of the holders of the
stocks and manufactured products These fail
ures reached and effected all other classes Of
business to a greater or less extent"
'How long do you think this depression will
continuer
1.-THE recovery from it and the general revival
of business must. in the absence of the ordinary
causes which accompany great panics, be quick