Workmen's advocate. (New Haven, Conn.) 1883-1891, 1890-01-04
THE CAPlTALISTIC CAlDRON


BradstreetS gives a list of 72 failures
in the wooden industry in 1899, with
$40, Az, 900 liabilities, as compared with
81 like failures, and So 637 900 liabilities
in 1888. This is conclusive testimony as
to the bad character of the wooden bust
ness during the year just ended, and is
attributed in great part to the mild win
ter of 1SSS-S9. The result of those
failures has unquestionaby been fur
Their concentration of the industry into
fewer hands.
To the weather also, both last year
and this is attributed the decreased
production of anthracite coal. "The
output being in the hands of few man.
moth corporations" observes Brad
streets, lone is not able to read the
record of losses as plainly as in the
wooden trade" Our well-informed con-
temporary, however, estimates at $14,-
900 900 the decreased business of the
anthracite companies. We may, on our
side, observe that this is no Gloss " to
them, in the real sense of the word
Gloss" but merely failure to make
that amount of profit. In the case of
the miners, however, a 100000 ton
decrease in the production is very actu-
ally loss of time, and therefore of
wages, to that extent.
The same authority reports dizziness in
the fine paper trade, on account of
overproduction and accumulated
stocks" Taken all in all, however, this
industry cannot complain of the results
of 1889.
With the exceptions just noticed,
"the principal manufacturing establish
ments are busily employed and making
more than the average profits. Not for
many years has business been so good
among the cotton factories. The shoe
shops, save those burned in the Lynn
fire, have had a prosperous season, and
are already at work on spring goods.
The machine shops and other metal
working concerns tell The same story.
Even among the wooden manufacturers
there are now few complaints and new
wooden mills are projected here and
there in the Eastern States"
In the production of coarse cotton
fabrics the South has become formid-
able competitor; but with the great
accumulation of capital and experience
in New England, the tendency there is
to the production of finer goods than
have been made heretofore.
The granite quarries of Vermont are
attracting the idle money of capitalists,
and new industry of considerable inn
portance is being developed in that State
by our benevolent" friend, Andrew
Carnegie, who has wisely monopolized
its manganese ore beds in Wallingford
and Brandon. Of these the following
description is given:
"Works for washing the ore have
been erected at both places, and some
100 men are employed i'll mining and
washing the product of these mines,
which amounts to about $50 tons of
washed ore daily. The Brandon mining
property consists of 1873 acres of land,
and is located within two miles of the
village. Some GO men are employed
here, and four shafts are in operation.
The manganese deposit was struck 81
feet below the surface, and shafts have
been sunk 30 feet without penetrating
through the bed of ore. The Brandon
ore yields rs per cent. pure manganese,
and some specimens have been produced
yielding 80 per cent. The washed ore is
shipped to Pittsburgh, where it is used
in the production of steel rails"
In New Hampshire new granite works
of large size are getting into operation,
and it is expected that the output of Con-
cord alone will be increased threefold
next year.
Of the iron trade, which constitutesso
great portion of our industrial activi-
ties, we. said enough in our previous
issues to show the prosperous condition.
We shall simply add, in confirmation of
our views, the testimony of the Iron
Age, as follows:
"It is significant fact that those in
control of our larger iron concerns ex-
press the most pronounced confidence in