The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-01-01

suffered some depression from general causes.
Our trade" stated the manager of the Mal,ea-
BILE Iron Works to the Journal reporter, has
been somewhat duller than during the previous
year.
what per cent of decrease has there been in
your businesslr was asked.
@"There has been no decrease. There has been
fully as much, if not more, work done than dur
ing the previous year, but the prices are not as
good. There are more iron manufacturers.
and, in consequence there is more competition.
do you employ as many men as formeriyf
eyes, we have employed more men than dur
ing the previous year"
How about wageS!"
There has been no reduction In wages.
"How do you regard the prospects for the
futurer
From the present Indications I think that
there win be marked improvement during tne
next year"
DEPRESSION DUE TO TARIFF AGIFAfi ,
John Thomas, president of the Indianapolis
Rolling Mill, when asked about business III MS
line replied
During the last year the manufacturing
business has been dead, and if possible it has
been worse than dead. We haven't turned
a wheel in our rolling-mill in the last twelve
months, and no work has been done in the steel
rail mill since it was built"
''What are the causesa"
''The great depression in iron manufacturing
has been brought about by the tamperng of Con-
gress with the tariff. In every instance where
Congress has attempted to change the tariff on
iron there has been an immediate depression,
and IL has continued as long as the foolish agita
ton lasted. There will be nothing settled in the
iron business as long as we have a class
or men In Congress whom We would
not trust with the management of our own
private business | went to Washington and
pleaded with our congressman to leave the
"A xvac nd Vxhi WAC
demoralizing to manufacturingint interests, and the
last Congress spoiled all good that was left.
The depression in the iron business IS due wholly
to the fool work of Congress"
us there any probability of your resuMing
work in the near future9"
las for the future there is nothing certain.
Iron and steel being staple articles, the present
depression will not continue long if Congress
does nothing to affect the manufacturing trade.
1t there IS any further tampering with the tariff
by Congress this winter the iron and steel inter
ests will be dead We would resume work in
our mills if we could make profit of ST. on a
ton. Under the ruling prices we would lose $l5
ON a ton, and if we used new iron $50 a ton"
Our business said Mr.. Hugh Hanna, man.
ager of the Atlas works, in reply to Journal
reporters inquiry, ''has been 20 per cent smaller
than during the previous year
us your business as good now as it was at the
same time in 1882"
ut is not"
DO you employ as many men2"
ave have only about one-half the number of
men at work now that we had year ago."
Is there any reduction in wagesT
THE wages paid are the same"
What are the causes Of the decreased bust
nessp
''There are different views. The change in
administration unsettles business somewhat, but
do not think that it seriously affects it, The
present tariff is satisfactory. A reduction
would be damaging. We expect something Of a
revival of business in the spring"
A MILLERs OPINION.
Mr. D. A Richardson. of the firm of Richard
son e Evans, was asked about the general con-
dition of business during the year in the manu-
facture of -four. 1.-THE milling business gen.
orally" he said, "has been rather dull, but we
haven't much reason to complain. Energy and
hard work has been required to keep mill run
ming night and day. and to dispose of the pro
duct. The price of wheat is as high in ST. Louis
and almost as high in Indanap oils as it is in the
Eastern markets. 1t looks like uphill business
to make flour here and sell it at profit in New
York. A difficulty with which millers are
PEELED to contend here, is the matter of freight
rates, There is probably more discrimination
against Indianapolis than most other cities. |
know Of manufacturer in Chicago who had a
contract during the last year, from the 10Th OF
July to the 9th of November, for a shipping
rate to Liverpool of 80 cents a barrel, which is
much lower than the average rate from
Indianapolis. Here we can get no rates at all
for the future There is very little certainty
about shipping rates over the ocean. There are
likely to be fluctuations within few hours after
a sale by cable, through the orders of Fink,
which will take all the profits All things con-
sidered however, we haven't much cause to
complain over the business Of the last year.
There is not much difference in the volume Of
the trade, but there were better prices and more
profit in 1888. An overstock of production has
caused some depression"
what do you expect from the next year,"
''There will be no boom in any kind of bust
ness during the next twelve months. There
will have to be close management, and business
men will have to be content to work for small
profits The prospect for the future is mill
stone through which no man can see A
large crop may make business, or break IT, here.
America is a great country There Is now
AS, 600, 900 bushels of wheat in sight From now
until the next harvest there will be speculative
market, and therefore, all legitimate BUSINESS
must be conducted cauti ously."
The Indianapolis Car Works report that they
have had comparatively prosperous year. They
built about l. 500 cars, which were sold at prices
which gave them fair margin. Although work
was suspended from March % to July II, the
company closes the year with satisfactory
profit They have given employment to 4OO men,
and they now have orders which will keep them
busy during the next SIX weeks. The prospects
are good for their securing other contracts sufh
cent to keep them busy through the whole of
the year.
The reports from other manufacturing estab
Iishments are generally of the most favorable
character, and they will enter upon the new
year with what are regarded very favorable
prospects for prosperous business.
THE WHOLESALE TRADE.