Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-12-30
TRADE IS LIFElEsS
THE WORST m fiFr YEARS


viii cay under the esrfioo: s1bs ysur
fS36;" S14rtinx with the is<Eeni trade
eser known. mills CROWDED slfh oork
and al business sfinaisfed b tieh
bop& the year ls-o he prossd n snd-
den shrinksss of trade. n oonnshs.zl
departures and depr>esion of isdos<r.sk
she vorsi for City pears whethef he
finI rs<pif< of the psrlc cf ls:5 ucre
more severe. the scanty records ~ that
time do not Clearly show Ibs yrsr
eioses with prices q nsny rec1ucts TIE
lowest ever knovf- pith niiIioosi 81
workers seeking 10 ss.n for work and
si.h charity latorinx te keep hack <ot.
fefine snd starvafion In ell oar cifits
Al hope ths neu pear may bring
brighter dzys bot the dyinr pear ie1vcs
only disns, reear.l
Collapse In Al fnda<srs~s
The review a. difIerent acpsrfmcnts
a. trade gisea today exhibits COLLAPSE
of industry and business uh.ch h sino~f
without precedent The iron industry
sustained weekly prsduc;ion oi 81 81
tons 81 pig May I. bot - October The
output had fallen % 1kSo tons, and
the recovery 10 stont 10000 hons Do
cember !. sfiii leaves 40 per ecnt a the
force unemployed. Over hail the uooifn
inanufarture is IDLE aud. e1ecp,ipg
brief recovery In November. has bcen
ever since May. Sales f uo1a 81 tie
three chief iaafkets 10 the eight nonii,s
have been but ioi so5, 600 pounds. partly
Tor speculation, the price having fAiinn
% per cent for fleece. % the lowest point
ever known. against 2i2.Sfe. .oe3 poards
In the sane month last year. Sales q
cotton goods are fully qosrtsr belos
the usual quantity. TIE small adysncs
sttenpted IN boots and Shoes a year AGO
was not sustained bot witt prices a.
shoca from Boston arc "a per cent less
than last year IN December. AID though
In November the decrrass 1ss but les
per cent. II has been - per cent for the
last four months
No Pronf in Farm producfs
Not only manufactured goodf a. a
whole. but the most important farm
products. are 30 low that producers 6nd
little comfort Official and olher re-
ports give the notion zhat tie cfops q
last year were 20 short that famiue
prices could be realized On purchases.
Enormous stocks were bought aud held
until heSsy receipis IN the sprinE
caused q collapse 81 wheat pork add
COTTON poolA Disastrous failures
helped % producr the alarm which soon
made money impossible % eet. but crtn
At the worst hour of The panic pricrs
we're scarcely lwor than they are now
Wheat has repeatedly eold here and 1t
Chicago st the lowest price ever known
and Is but hall q cent above II now.
Pork fell g. IN an hour when the specu-
lation burst hot sells lower yet tctiay.
Cotton vas lifted cent with accounts
Of scarcity In September. bat Ia. loss
most of the gEin and sells below ceufs
Thus unressonab.e speculsiions BY pre-
venting the sale of surplus products.
have proved great injury 20 farmers st
q time when their entofced cuitalimcnt
Of purchases u disastrous 70 AZ other
industries
what Cau~cd the Isanir.
Monetary snxicties appeared to cause
the panic and became efademie when
doubts were raised IN Arril alsous r..
dempfion 81 treasury noten m silver.
Western tsnk. had risen rcapon for SIS.
trust by connection uifh real rstsfn.
produce sni stock renfures Deposits
in national banks alone decreased in
flve ,nonih. nearly ska.oH f1o pnr-
ckascs lDr consumption shrpnk 80 much.
20 many hands were ont q ucrk o.
earnings. reduced wares and fneipess ~
ali kiDds wns ~ reduced that the &c.
cnmuiation of idle fanney became fhe
greatest ever knoRa. csc -edinz f3rO..
ooo0,o in New York, ths transactions
Through al clearing houses outside New
iork m ssnesfs were - per cens
,sIser .naa 's-' e-r sne % Ter sent
,Aik-t ta.n '-,e nrs' eea..ef' s,<nhf
ih,tsI IN me fseune 9osr,rr. pr
cent e"a.seI ~ 1ee aa'fe 4"ht'sL nno q
Per ceot smaiief M me isst quarter
tfcssy shrisksxc IN Dasinr<s
Clear evidence az the shrinkar~ IN
different irsncher a bunsnres u affordaa
by answers alreads seccises 20 rsg~fei
thoussnd circuiars reoues,inr figures ~
sales during The lasf RAT 81 lsa8 n.i
1saz Full Information - fhe rasuit-
will be given hernsfsff. hot returns a
textile gods already shoutniee amount.
inc 20 <fasf3 e7s fhis wear norfupt f7o.
sss.ss2 lssi year. 4 desfca4e a. ~ Per
cent. Iron rcturns thns fnr aggregate
sfn ~. 20 against eEz s1ofel iesf yrsf.
a dcrroa. of - tef cent. repnrss thee
FAR ~ jercirs rfuw lncfeers a. - rrr
cenf. n dry gpcds 70 Per canf. - hate.