Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1893-10-06
mo REVlV AL YET.
is VERY SLOW TO RE-
COVER
AND DUN REPORT
LITTLE PROGRESS.

Nine Months Extraordinarily Large.
Every Industry Affected-Factories
Run Only on Short Time and With
Reduced Forces.
New York Sept. G.-Bradstreet's
weekly report says that aside from in
creased sales and shipments OF mer-
chandlse in few widely separated
centres there mas been no general i'm
proyement III the commercial situation
this week. reports OF the starting up
OF cotton and WOOlen mills in New Eng
land are quall1ied with explanations
that in almost all instances it is on
short time, with reduced forces and
on orders.
The iron and steel Industries show no
signs Of revival and even the demand
for Bessemer pig iron has dwindled
disappointingly.. A significant feature
is found in the closing down again of
industr. es at number Of points in the
west where they recently started up
after prolonged idleneSS. But, on the
other hand, the Texas drouth has
broken, northwestern bankers are adj
vancing funds freely to handle the
grain crop, and the south is taking care
Of cotton as it gets to market, while in
Louisiana the sugar crop is claiming
attention and rice will soon claim il
nancial aid. The results of the recent
monetary stringency are found in the
extra ordinarily large total number of
business failures during the past nine
months. Exports Of wheat land flour
as Il whole from both coasts of the
United States and Canada this week,
equal 100000 bushels as compared
with 4,727,OOO bushels during last
week, and with 4,045,OOO bushels dur
ing the last week of September, 1892
The total number Of business embar-
easements during the past nine months
aggregates 11,174 or 81 per cent. more
than during the like period in 1892.
The embarrassments reported during
the past nine months, carry liabilities
of 1874 ,OS9,66S or about four and
quarter times the aggregate indebted
ness Of the 1873 embarrassed individu-
ais, firms, and corporations in the like
period in 1892, and nearly two and d
half times the total Indebtedness of
the 1886 concerns reported suspended
in nine months in 1891.
The largest aggregate Indebtedness
Of failing traders ever reported in the
nine months Of any preceding calendar
n 10 of no
in which the total number Of failures
during nine months was S,3O2, and the
aggregate liabilities $195, 951, 900, only
90 per cent. of the like Indebtedness
reported thus far in 1893, While the
total number Of failures reported in
1884 amounted to IA per cent. Of the
aggregate thus far reported this year.
New York, Sept. Or. G.. Dun &
Co.'S weekly report says: A complete
statement of the failures for the quar-
sible but the number thus far reported
is about 1000, and the aggregate Ii
abilities about $15O,OOO,OO0, sur
passing the record Of any previous
quarter. For the past week failures
numbered 800 in the United States and
in Canada "a.
Hope deferred" explains the past
week in part, and is doubtless. true Of
many who indulged in unreasonable
hopes, but business has not entirely
answered expectations. 1t is also true
that many whose works resumed oper-
ations do not find their orders large
or the demand from consumers as Wig
orous as they anticipated, and with
some it is a question whether they shall
not close again. While money on call
is abundant and cheap, there. is per-
ceptibly greater caution in making
commercial loans here and at some
western points.
The railroad earnings for September
show a decline of 13 per cent. as COM
pared with last year. The wheat re-
ceipts decrease again, and fan far be-
hind those of last years, but the stocks
in sight We're too heavy and prices
fell. Corn continues to come forward
freely and the price fell 1 3-S. The
changes in pork products are obvious
ly due rather to manipulation than to
any change in the outlook.
The iron outlook does not seem
brighter but the closing of the
largest mine in the country, the
Norrie, indicates the limited character
Of the business.