The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-01-04
REVIEW OF TRADE.
4 Remarkable Showing for ths Business Of
the Country the Past Year.
Great Increase in Railroads-Condition of
Iron Business-The Failures, and
How They Compare With 1886.

NEW YORK, December 30.-R. G. Dun &
Co., in their weekly review of trade say;
A year of enormous business closed with q
little more than the seasonable dizziness.
The transaction much beyond the average
IN September and October, prepared for
some slackening of trade in November
and December, which has been increased
by tariff uncertainties, by several strikes Of
importance, and by a speculative advance
IN prices. Unusual pressure for money
during the fall, on the other hand, caused
adjustments which prevent severe pressure
as the year closes, and except at few
Western points the money markets are
comparatively easy, with collections almost
every where fair, and at most points reas-
onably 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 uncertainty
as to the future in some of the largest in
dustries operate unfavorably.
Ease of money and belief that the Read
ing strike would not last have helped
stocks to improve until to-day, when the
day opened with some reaction. Hopes OF
activity and advance after New Years sus-
tain prices, but the great movement of for
eign capital hitherwsrd for investment
has ceased, at least for the time.
In November, trade statistics indicate that
the outgoing slightly exceeded the incom-
ing goods and capital. December exports,
at New York IL per cent. below last years,
against imports IL per cent. below, indi-
cate that at least SIS, 100000 IN goods and
cash has probably gone abroad, and for
eign sales have exceeded purchases of Sc
curities. If continued, this movement
Will affect the placing of securities for new
roads, ana thus influence great industries.
The dying year has seen II 724 miles of
railway finished, making the mileage for
the United States 49, 10, but changes of
freight rates at the West End steady
downward, lessening the prospect for
building next year. The Pennsylvania re-
ports decrease of $40 900 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. Since March the average of ali
grades at Philadelphia declined $1.42 and
OF rails IS. Sales of 10000 tons Alabama
and Tennessee iron are reported, but no
sales of rails, for which next years orders
cover only 100000 tons. The Western Nail
Association lower card rates from 1925 to
s..
The cotton industry records for the year
larger productions, sales, and profits than
for 1856, and the year closes with an excel
lent demand, stocks well cleaned up and
many makes sold we'll ahead. Bnt the
wooden manufacture is described as having
about the most unsatisfactory year it has
ever experienced, with business smaller
and profits smaller than last years, E0or-
nous importations have left large stock
OF dress goods Oh hand; overcoatings are
moving fairly, but fine goods at 5 TO 10 per
cent decline. Coal production has been
the largest on record, but the market closes
- 4 7 Il. -
continuing, while dispatches affirm that
Reading miners will strike January l. The
grocery trade has been very large for the
year and closes with great activity, not
withstanding the speculation in coffee
and the rise in sugar following reports of
a decrease of 1862, 900 tons. In beef Or oduct,
provisions hold the recent advance, beef is
again a shade dearer, and there has been
a rice of &c. in oil. Cotton, in spite of
small receipts, is a shade lower, but bread
stutfs have risen, wheat and corn about
one cent each.
The Treasury has added S714,OOO to its
deposits with banks, and 81, 600, 900 to the
circulation during the week. 1t has now
increased the circulation OF coin and paper
about $64, 900. 900 since July /, and $780,
100000 since July l, 1886. The incomplete
returns of clearinghouse exchanges indl-
cate an aggregate for the year exceeding
$5l, 000, 900, 600, with a gain of about per
cent. over last year, but November showed
a small decrease, and in December the de-
crease In payments has been considerable.
The years failures show a decrease of
two hundred in number, but larga in
crease of $50, 900, 600 in liabilities, as fol-
lows: 1887, number 9,64c; liabilities $685.
$50, 944 average ST., 1892, 1886, number O..
S84; liabilities $l14,644,119 average $l1,.
Col.
The returns for the Dominion of Canada
show 1852 failures, with S16,311,7 45 liza
bilities, average $1l,S03. The failures in
the Dominion were one in every ffty-four
persons in business; in the United States
they average one in every hundred and
eleven persons.