The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-01-07
LAST YEARS TRADE BIG
But the Failures More Than
Kept Pace.
Dun's Agency Reviews the
Situation.
Prospects For the Coming Year
Brighter.
Banker Kean Offers Creditors a
Banker Kean Offers Creditors a
Compromise.
The Chicago Bankers Hopeful-Other
Business News.

upon the crowding records of the year
Just closed which show an extraordinary
volume of business in many lines surpass-
ing all precedent. Iron, cotton. leather,
boot and shoe and meat production were
larger than in any previous year. Thus
2,219,312 cattle were slaughtered at Chi
cago againstl ,763, $40 IN 1889, a gain Of %
per cent; and 5,733,OO2 hogs against 4,211,-
767 in 1889, a gain of SO per cent. At Bos-
ton 1885, l1 cases of boots and shoes were
shipped against ~3,399,9SO, a gain of 4 per
cent.
"The clearing house exchanges show that
the volume of all business in 1890 ex-
ceeded that of any previous year by ut
least 10 per cent, though in part this in
crease was due to the higher range of
prices during the greater part of the year.
The advance in prices of all commodities
compared with a year ago is 6.6 per cent,
and the average has been about So per
cent. higher for eight months; but this un-
precedented volume of business has not
been altogether successful and the re-
| corded failures nave been in number and
in amount of liabilities larger than in any
previous year since 1884. Though in
number only a trife greater than in 1899
the average of liabilities was ST., 406 for
the year against S13,67S the wear before.
Moreover the average of liabilities for the
last quarter was greater than in any other
fourth quarter on record, namely SIG, 1S4
against Sl4,907 in 1889.
THE reports from other cities are all
most uniformly confident in tone and in
dictate a good volume and fair condition
of trade for the season, but are liable to
be colCred by the retrospect of a gener-
ally prosperous year. The South r~sjoices
in great crops and wonderful manufacture
ing and for the moment notes less finan-
cial pressure, good holiday trade and
bright hopes. ST. Louis has weather more
favorable for distribution and money at Z
10 s per cent. Kansas City notes a strong
demand for monev and receipts OF 1900
cattle and 5000 hogs, and st. Joseph re-
ports a large increase in the years trade
and care in credits resulting well. At
| Milwaukee and 81. Paul unreasonable
weather has affected trade for the week
but very satisfactory reports are made for
the past year and money is easier. At
Chicago, though money Is close, conf
dence rapidly r%evives. collections are
easy and the past years trade exceeds by
% per rent. lHdL Oh 1901 IN general meT-
chandise, dry goods and shoes,
somewhat more in Clothing, 90 per cent.
in furniture, and 80 per cent. in some
other lines while the increase in products
of factories is S25,000,000 At Cleveland,
jobbers are surprised at the fuliness of
collections, but twenty-five iron urnaces
in the Mahoning region are about to close.
Pittsburg reports a decline of % cents in
pig-iron, weake finished products, and a
reduction in prices of coke TO furnaces
from s2.15 to s. .95, though Shenango fur
naces are also TO close. The Eastern re-
ports show easier money markets, and a
more hopeful feeling. At Philadelphia
the grocery season has been satisfactory,
with good collections. At Boston, condi-
ions are deemed favorable. Wool is fair
ly active, with unsold stocks in the coun-
try reported at 100000 pounds against
30,000,0O0 a year ago, and n better pros
pect for wooien goods. Domestic hides
are firm, and leather and boots and shoes
are more active.
"The iron industry does no improve as
the closing OF many furnaces indicates.
Copper and tin open the new year lower.
There is a better tone in the anthracite
coal market. 1t is evident that prospects
are thought brighter in the cotton and
WOODEN industry for the record shows that
a number of new mills are being erected
and while the great majority of domestic
wooden goods are selling at as low prices
as a year ago and some wen q shade lower,
the volume of salesiimproves and the mar
ket for dress goods and worStrds has been
improved both in volume and to some ex-
tent in price.
"The cotton market has advanced cent
with sales of 49, 900 bales, although both
receipts and exports for the eek exceed
those of a year ago. Other speculative
markets have been comparatively dull,
hut wheat has advanced J cent and oats
II cents, with corn J cent lower, coffee l
cent lower, oil cent higher and lard 20
cents per 100 pounds higher. The close
ness of money and the uncertainty as to
the future have promoted a healthy in
activity in most kinds of speculation and
the exports of wheat a, the current prices
begin to approach those OF corresponding
weeks last year.
The stock market has been dull rather
than weak, though prices closed much be-
low those OF a year ago. averaging for the
sixty most active stocks $55.49 per share
against S64.63 Jan. ., 1890. The average
rose to S69.933 with the silver boom Nav
"a and fell to S13.6l on Nov. 10, the day
the Earrings liquidation was announced.
The most significant fact in this business
Is that rev issues of securities during the
year after deducting all for the replace
ment of older securities have amounted to
$3.50, IA, $40 bonds and SlS9, $50, 751 stocks,
exceeding by $~134,0O0,O00 net issues for
the previous year. The prospect for traffic
is affected unfavorably by the shortness
of crops which some roads begin to feel
seriously but favorably by the bet
ter understanding between man
ayers, which promises more satisfac-
tory rates. The monetary situation
has not changed during the week, though
the treasury has put out $4,000 more
than it has taken i'm. Exports at this
port continue to exceed those of a year
ago, swelling the excess of exports over
imports, and the rate of foreign exchange
has again fallen to S4.83, indicating that
gold imports may not be distant.
"The business failures occurring
throughout the country during the past
seven days number 34S, as compared
with a total of 333 last week. For the
corresDOndinQ week of last wear the fO-