Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1888-01-05
A coon YnAR FoR rRApE.
Dams Report shows That the Nation
Prospered in the Dying Year.

Prospered in the Dying Year.
A year OF eaOrmous business closes with O
little more tan the seasonable dullness.
Transactions much beyond the average in
September and October prepared for some
slackening of trade in November and Decem-
Der, which has been increased by tariff un-
certainties, by several strikes of Importance
and by speculative advance in prices. Un-
usual pressure for money during the fall, on
the other hand, caused adjustments which
prevent severe pressure rs the year closes,
and except at a few Western points,
the money markets are comparatively easy
with collections almost everywhere fair
and at most points reasonably good.
Holiday trade has generally been large,
and the recent change in weather brings
greater activity in some branches But the
pending strikes and controversies about wages
and uncertainties as to the future in some Of
the largest industries operate unfavorably.
Ease Of money and belief that the Reading
sSrike would not last have helped stocks to
improve until yesterday, when the day OPEN
I'd with some reaction. Hopes of activity
and advance after New Years sustain prices,
but the great movement Of foreign capital
hither ward for investment has ceased, at least
tor the time. In November, trade statistics
indicate that the outgoing slightly exceeded
she incoming goods and capital December
exports at New York, 1-2 per cent. below last
yesr's, against imports III per cent below,
indicate that at least $15, 900 900 in goods and
cash has probably gone abroad, and foreign
sales have exceeded purchases of securities !!
If continued, this movement will
affect the placing of securities for
rew roads, and thus influence great in
dustries. The dying year has seen 12,724
miles of railway finished, making the mile
age for the United States 15O,7lO, but
changes of freight rates in the West tend
steadily downward, lessening the prospect
for building next year. The Pennsylvania
reports decrease of S170, 900 in net earnings
for November and the Erie decrease of
$24, ,233
The iron industry, after the largest years
Output on record, is rapidly cutting down
production prices, and, at many points,
wages. The Thomas Company is expected to
announce $21 as its price for the best iron.
Since March the average of all grades at
Philadelphia has declined $l.42, and of rails
SO. Sales of 90 900 tons Alabama and Ten
nessee iron are reported, but no sales of rails,
for which next years orders cover over 2OO,-
600 tons.
The cotton industry records for the year
larger production, sales and profits than for
1885, and the year closes with an excellent
demand, stocks well cleaned up and many
makes sold well ahead. But the woolen
manufacture is described as having
about the most unsatisfactory year it
ever experienced, with business smaller
and profits smaller than last years, andforeign
agents are again offering heavy olsteds to
10 per cent. below last years prices. Enor-
nous importations have left large stock of
dress goods on hands; overcoatings are NOV
ing fairly, but fine goods at 5 to 10 per cent.
decline The sales of wool at Boston for the
last quarter fall % per cent. below last years.
ord, but the market closes with some excite
ment, the Lehigh strike kecontinuing, while dis
patches affirm that Reading miners will strike
Janu Try l. The grocery trade has been very
large for the year. and closes with fair activ-
ity, notwithstanding the speculation in coffee
and the rise in sugar following reports
of a decrease in beet products Provis-
ions hold the recen1 advance; beef is again a
shade dearer, and there has been rise of six
cents in oil Cotton, in spite of small receipts,
is shade lower, but breadstuffs have risen,
wheat and corn about c.nt. each.
The Treasury has added STA 900 to its de-
posits with banks, and $l,6o0,OoO to thu cir
culation during the week. 1t has now in
creased the circulation of coin and paper
about 1854, ,000,0 900 since July l, and $3.50, 900,
00J since July /, 1856. The incomplete re-
turns of Clearing House exchanges indicate
an aggregate for the year exceeding $51 ,0OO,'
100000, with a gain of about 4 per cent. over
last year, but November showed a small de.
crease, and in December the decrease in pay
ments has been considerable.
The year'sreturn of failures reported shows
decrease of two hundred in number for the
year, but large incrsrss Of $53,0)0,0oo ir
liabilities as follows: 1887, number 9,63l; liza
bilities, Sl67,8),9li; aver ,ge, $l7,s92; 1856,
number, 1884, liabilities, $114,64i, ,119; aver
age $l1 ,65l. The returns for Dominion of
Canada show 1,SSe failures, with 1881, ,745
liabilities, average, Sll,sl3 The failures in
the Dominion were one in every "a per
sons in business; in the United States the,
average one in every Ill persons
PennsyIyania Notes