The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1893-12-31
Woasf AZ FIFTY YEARS ro,
HUsIuEss.
IT VAS RlHOUP A PRECEDENT.
started WITH the largest Trade Ever
known snd the ssiir Crowded with
WorE. but otose< WITH the low
est Prices % iteastl unt Mil
lions withont Employ-
ment-Many rsiiures.

NEW YoRK, Dec 30 r. G.. Dun &
20. Weekly Review OF Trddc says:
starting with the largest trade
ever Known, mills crowde with
work aud all business stimulated bv
/ high hopes, the year lsg3 has proved.
in sudden shriukagc of trade. in com
nerciuI disasters aud depression Of
industries the worst for fifty years.
/ Nhe her the final results Of the panic
OF 1897 were rcla lively more severe
/ The scanty records that exist do not
/ clearly show. Tho year closes with
/ the prices of many products the lowest
/ ever known, with millions of workers
seeking in vain for work, and with
charity laboring to keep back suffer.
| ing and starvation in all our cities.
"Thc review Of different depart
mcnts OF trade exhibits collapse of
/ industry and business which is almost
without precedent The iron industry
sustained q weekly production of 49,
55l IONS pig MAY D, but by October l
the output had fallen to 20, ,S9j tons,
and the recovery TO about 100000 De-
cemb still leaves forty per cent of
the force unemployed. over half the
woolen manufacture is idle, excepting
a brief recovery IN November, has
been since new wool in May. for all
sales at the three chief markets. in the
eight months have been but LOG, 57O,-
500 pounds, partly for spccu alton, the
price having fallen twenty per cent
for llcetc, to the lowest point ever
known, against PIP, 800 O93 pounds in
the same months last year Salcs of
cotton goods are fully one-fourth be.
low the usual quantity.
'Omcial and other reports give the
notion That the crops of last year
were so short that famine prices
coulu be realized on purchases. Enor-
nous stocks were bought and held
with the aid of banks till heavy re-
ceipts in the spring caused a collapse
of wheat, pork ana cotton pools. Dis
astrous failures helped to produce the
alarm which soon made money inn
possible To- get, but even at the worst
/ hour of the fanic, price, were scarcely
! lower than they are now. Wheat has
repeatedly sold higher, and at Chicago
/ at the lowest price over known. and
/ is hut onc-udli cont above it now.
/ Pork fell ~ in an hour when tho spec
| ulatiou burst, but sells lower yet to
| day
Monetary anNieties appeared to
/ cause Sine panic, and became epidemic
, when douuts were raised in April
about redemption of t'clsu notes n
silver Western bank .a given rca-
son for distrust by connection with
real estate produce and stock ven
lures. Deposits ia no..,ial banks
alone declined in five months nearly
$500 Oo0. 600. Purchase for consump-
I "a. ..
were out of work or earning reduced
wages, and business Of all kinds was
! SO reduced that the accumulation Of
| idle money became the greatest ever
| known, exceeding 500, ,G0u,O in New
4 York. The transactions through all
| clearing houses outside of New York
I in January were l..j per cent larger
/ than the first quarter, 81 per cent
/ smaller in the thirds quarter and -
per cent smaller in the last quarter
Clear evidence Of The shrinking in
/ different branches of business Is af-
/ fordcd hv answers "a ready received to
/ several thousand circulars requesting
figures of sale, i'm the last hIitof 1873
and 1892. Fun Information OF the
! railroads will be given hereafter, but
/ returns Of textile goods already show
| sales amounting to Sl3sl3,S55 this
/ year, against tu,Hf ENN- laSL year,
1 decrease of 35 per cent
Iron returns thus far aggregate
/ $40, s5J, $50, against S65.52O,gsl last
year "A decrease of 3- per cent; reports
| thus far Of jew.lry show de reasc of
20 per cent: of furniture 20 per cent;
OF dry goods. as per cent: Of hats, i95
per cent; of hardware. - per cent; of
Shoe manufacture. Is per cent. and bv
deplpr1 = nor cont and of plol lliuu *
rer cent Il is curiou, that In, only
ccrics, the aggregate sales being per
cent larger than in the last half of
lSHs.
In thlrty-seycn years covered by
,le IE'"l"' Oh ln'N agency the mum .
., oi ,,- i'''' o''S ""C' '''i'
ne Ho1Fc Io'o'o IA " ycHI' 20
mo a--r,.,,,,t., 90 tlo It.,l,1t,i,s H., ali