The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-01-01
Financiers Agree that Though the Volume Of
Business Is Reduced, 1t Is on a
Solid Foundation.
The Principal Causes for the StriDgency
OF the Money Market.
Business Men Generally Satisfied with the
Footings for 1884, and Hopeful of
Better Showing in 1885.
THE BUSINESS OF 1884.
General Features of the City's Prosperity
Condition of the Real Estate Market.

General Features OF the City's Prosperity
Condition of the Real Estate Market.
Notwithstanding the financial depression which
has prevailed, not only locally but throughout
the country, the general trade in the different
branches of mercantile business in indianapolis
has been more satisfactory than it was thought
twelve months ago that it would be under such
unfavorable conditions as have existed. AJour-
nal reporter has interviewed the representative
business men of the city, and the information
which has been elected indicates an Unexpectedly
satisfactory condition, with more promising pros
pects IN the new year than there were in the be-
ginning of 1884, when feeling of distrust pre-
vailed in business circles. The twelve months
just closed began under threatening conditions
and disastrous ending of the year was feared
In consequence, new investments were made
cautiously and the feeling of uncertainty
which prevailed was the cause of much
money being withheld from circulation Values
began to decrease early in the year and there
was collapse in the inflated stocks The effect
was general Necessarily the prices for the
staple products declined and the result was the
financial condition commonly known as hard
times" It was nothing more than was expected
by sagacious business men, and the prudent
caution with which they entered upon the year
doubtless averted what otherwise might have
precipitated panic. The decline in the PRICES
OF mercantile staples has been about propor>
tlonate with the decrease in the wages of labor
ers and the depreciation in the markets of do.
mestic products. A diminished money circula-
tion has, therefore, been about the extent of The
general effect of the hard times" in Indiana
There has been less suffering among working
people than during the previous year because
there has been more labor employed
In 1883 the number of manufacture
ing establishments in Indianapolis was
296, the amount of capital invested in the build
ings and machinery was 81, 797. 600, the value of
the raw material used during the year was $lS-
19l, 600, the value OF the manufactured product
was $27, OBJ, 900, and the number of persons en-
ployed in these manufacturing establishments
was 8, 1853 In 1884 the manufactures numbered
347, the capital invested in the buildings and
grounds is $8 546 O00 the value of the raw ma
terial used in manufacturing was $l7 1890 600,
and the value of the product was $27 54l, ,00O
During the year there have been TO- 1l2 persons
employed in these establishments-349 re5ra-.
than in 18S3-and they have heed paid So POI 600
in wages. Although the wages which have been
paid have been smaller, yet in some of the fac.
tories there has been no reduction, the employ
ment has been steadier. and the working men in
Indianapolis, have, as a clsss. lived as we'll il
not better than during 1883, because the
necessities of life have been cheaper
dealers have been smaller in proportion to the
of do Lc,,o
losses upon the goods handled It is apparent
from the information that can be gathered that
the relative condition of trade generally. be-
tween buyer and seller, employer and employe,
has been upon sounder basis and there can
not, in consequence be any future hurtful re-
suits. Although purchases have been made in
smaller quantities than usual, the books of 1884
will close upon an aggregate of outstanding in
debtedness comparatively smaller than in pre-
vious years. While the business man has been
cautious and prudent the consuming citizen has,
consistently with the condition of the times.
manifested disposition to be more economical
and frugal than formerly.
Anindependently local cause of business depres-
'ion was the failure of two of the leading banks
If the city, but it has besu less disastrous in its
'Hect tnan IL was feared III would be- Besides
he loss of money to the deposittrs and the with
travail of capital from circulation it has thrown
many disadvantages in the way of the business
nen of the city, and will have the effect to re-
ard a revival of prosperous times, which would,
lad the failures not occ lrred come sooner than
nay now be reasonably expected
THE REAL ESTATE MARKET.
However, real estate, which Is usually about
he first property TO decline in value in times of
lnancial depression, has not been effected in
rice to the extent that it might be supposed Is
hat it would. "There has been" the secretary
f the Board of Trade states, "a steady increase
n the bulk of sales of real estate since 1882 n
here has been no boom during the
ast year, but there has been steady demand
or real estate and it has sold ut fair prices.
)urng July the sales were larger than during
ny previous month in the last three years A
air idea of the activity of the real estate mar
ct may be obtained from the following compar-
tive statement of the aggregate amount of the
ales which have been made during each month
a the last three years
Months 1892 1893 1874
anuary $4s3, ,567.s9 $l76 73603 $517 20O2I
ebruary.... 43S, $500 496. 1891 446 6IGl78
Iarch ...... 500, 500 81 SOB 15003 6S3 54h44
pril ........ 62S.99S2 20 939 S4434 4si. .56393
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