The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1891-01-08
Condition Of tht
Business of the Country. ~


New YoHK, Jan. 2.-R. g. Dun & Co.'S
Weekly Review of Trade says: The new
year opens with so much uncertainty there
is natural disposition TO Dwell upon the.
crowding records of the year just closed
which show an extraordinary volume of
business in many lines SURPRISING all pre-
cedent. Iron, cotton, leather, boots and
shoes aud meat products were larger than
in any previous, year thus 22l9,al2 cattlep
were slaughtered at Chicago against l, 1853 ~
80 in 1889, a gain of % per cent and 5,7S3 ~
O82 hogs agai.s st 4.2ll,767 in 1882.
gain of So per cont, The
clearing house exchanges show thet the
volume of all business i'll 1890 exceeded that
of any previous year by at least 10 per cent,
though in part this increase was due TO
higher range of prices. During the greater
part of the year 1890 the advance in the
price of all commodities, compared with a
year ago, is 6 per cent, and the average
has been about 5.5 per cent higher for the
eight months.
But this unprecedented volume of bust
ness has not heen altogether successful
and the recorded failures have been, in
number and amount of liabilities, larger
than in any previous year since 1883,
though in numbers only tritle greater
than in 1889. The average liabilities was
$751; 90 for the year, against $l3,672 the year
before.
Reports from other cities are almost uni
formiy confident in tone and indicate good
volume and fair condition of trade for the,
season but are liable to be colored by the
retrospect of generally prosperous year.
The South rejoices in great crops ana
wonderful man ufacturing growth, and for
moment notes less financial pressure,
l.oI,I 40. do hrirh
st, Louis has weather more favorable tor-
distribution and money at and 8 per cent.
Kansas City notes strong demand for
money AT Chicago mOneyis close and COIL
tidence rapidly revives. Collections are
aesy and the last years trade exceeds by 6;
per cent that of 1889, in general merchan-
disc, dry goods and shoes, somewhat more
in clothing, 20 per cent IN furniture, 80 per
cent IN some other lines, while the increase
of products of factories is $25, 100000.
Jobbers are surprised at the fullness OF
collections, but twenty-five iron furnaces In
the Mahoning region are about to close
The iron industry does not improve. as the
closing of many furnaces indicate. Copper
and tin open with the new year lower.
There is a better tone in the anthracite coal
market hut it is evident that the prospects
are thought better in cotton and wool In
dustries for the record shows that number
OF new mills are being erected while the
great majority of domestic wool goods are
selling al as low prices as year ago, and
some even a shade lower The volume Of
sales improves and market for dress goods.
and worsteds have been improved both in
volume and to some extent in prices.
The cotton market has evidenced an ad-t
vance of &c, with sales of 465,000 bales,
although both receipts and exports for the
week exceed those of a year ago. Other
speculative markets have been compare
lively dull.
The pect for railroad traffic is aft cted,
unfavorably by the shortness of crops,
which the roads now begin toieel seriously,
but will be favorably affected by better
understanding of the managers, which,
promises more satisfactory results.
The monetary situation was unchanged
during the week, though the treasury has
put out 100000 more than it has taken in.
Exports at this port continue to exceed
those Of last year, swelling the excess of
exports over imports, and the rate of for.
eign exchange has again fallen to $4.S3, jufI
dicatiDg that gold imports may n&3!ss$t3S
tant. .t&B@ sf A
Business failures occurring thr sa Z
the country during the past #seveliys "a y
nun, Der 348 as compared with totaSS@ n,
333 last week. For the corresponding wet M
of last year the figures are 3-8 "