Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1888-01-13
YEARS TRADE REVIEW:
The Business Done Enormous-Larp.
est Production Of Coal on.
Record.
The Railroads, the Stock Market, Wool
and Iron Industries, and
Money.
From Dun & Co.'S Review Of Rus;ros.


me dying year has seen II. 1914 miles Of
"a! laliw wa nnlshed, making the mileage for
me United States l5o,7l0; but changes Of
downward, lessening the prospect fny
building next year. The Pennsylyan;n
company reports decrease of $179,OOO in
net earnings for November, and the Erie a
decrease Of S24,233. The iron industry.
a1ter the largest years output on record, is
rapidly cutting down production, prices.
and, at many points, wages. Since March
the average of all grades at Philadelphia
mas declined SLAP, and Of rails Sc. Sales
OF 2o,OOO tons Alabama and Tennessee iron
are reported, but no sales of rails, for which
next years orders cover only go, 900 tons.
The Western Nail Association lowers card
rates from 1925 to 50. The cotton indns-
try records for the year larger productions,
sales, and profits than for 1886, and the
year closes with an excellent demand,
stocks we'll cleaned up, and many makes
sold we'll ahead. But the wooden manu-
facture is described rs having the
most unsatisfactory year it has ever ex-
perienced, with business smaller and profits
smaller than last year. Enormous impor-
tatlons have lefta large stock of dress goods
on hand. Ovcrcoatings are moving fairly,
but fine goods at ) to 10 per cent decline.
Coal production has been the largest on
record, but the market closes with some
excitement the Lehi2h strike continuing,
while dispatches affirm that Reading min
ers will strike Jan. l. The grocery trade
has been very largo for the year, and
closes with fair activity, notwithstanding
the speculation in coffee and the rise in
sugar following reports of decrease of
3G2, 900 tons in beet product. Provisions
hold the recent advance. Beef is again a
shade dearer, and there has heen rise of
six cents in oil. Cotton, in spite of small
receipts, is shade lower, but breadstutfs
have risen, wheat and corn about one cent
each. The Treasury has added S714, 200
to its deposits with banks and ST 900, 900
to the circulation during the week.
1t has now increased the circulation
OF coin and paper about $4,000. 900
since July and $3.50, 100000 since July / (,
1886. The incomplete returns of clear
ing-house exchanges indicate an aggre-
gate for the year not exceeding SOL, OOO,-
OOO.OOO. with gain of about per cent
over last year, but November showed q
small decrease, and in December the de-
! crease in payments has been considerable
The years failures show decrease of 200
in number, but the large increase of S53,-
OGO, 900 in liabilities, as follows:
1SS7-Number, 1884. liabilities, &c.,
0,944; average, $17,332.
1SS6-Number, 1884; liabilities, $1l4,-
644, 119; average, $1l ,651.
| The returns for the Dominion of Can
ada show 1882 failures, with SlG,311. 745
liabilities; average, Sll, 1903. The failures
in the Dominion were one in every fifty
| four persons in business; in the United
| States they averaged one in every Ill per-
| sons.
The failures throughout the United
States within the year, as reported by the
Bradstreet Company, aggregate 9,74O, or
7.8 per cent fewer than in the year ending
with Dec. 80, 1886, when the total was
10,56S. The total number of business
failures this year is Just II times as large
as in 1880, period of some initiation and
exceptional prosperity. The increase of
nearly SIT, 100000 in liabilities this year
over last may be nearly accounted for by
liabilities of Central, Western, and Middle
States speculative traders amounting to al
1sost that sum. Meanwhile assets increased
over So, 100000, more than per cent. of
the total increased liabilities, thus more
than maintaining the previous years aver
age OF solvency. The per cent. of assets
to liabilities in 1856 was 40 per cent, while
in 1887 it is 49a, the annual average for
three years being 4S.1 per cent. On the
whole, the exhibit must be regarded as fa-
vorable. The commercial death rate has
declined, as compared with 1886, as we'll
as may be judged, to nearly the normal,
considering the recent business conditions
and the tendency to speculate to excess and
consequent disaster.