Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1893-12-28
BUSINESS IS BAD.
Depression In Trade ContiDuos-Thres
Million Persons without Support.
New YORK, Dec. Is. - radstreet's

OVPEVUDA&0 IA AE0o0 NOuG10UO8-x0x0O
Million Persons Without Support.
New YORK, Dec. Is. - Bradstreet's
says:
THE features Of the business week arc the
Increased uniformity in reports that general
previously; that holiday trading has been un-
satisfactory and far below that Of year ago,
continued closing down Of important industrial
establishments, reductions of wages and in.
creased instances whore short time is being en-.
forced. Nearly all staple markets are quiet al
most to stagnation, the exception having been
cotton tho price of which was stimulated late
In the week by revival Of confidence In low
crop reports Wheat, too, was higher for
time, but reacted On the other hand. pig iron
never was lower than at present Commercial
travellers are on the road to q very limited ex-
tent. as is usual at this season, and stock TAX
ing 10 beginning at many points, which tends
70 emphasize the lack Of business activity.
with the exception OF Augusta, Ca, and
possibly one other point absolutely no claim
to even slight improvement in any line Of
business Is made at any point this week. Elk
ports Of wheat from both coasts OF the United
States are not as large as last week, amount
Ing to only 1905 900 bushels, about 60 per cent.
OF the total year ago, and three quarters OF
the aggregate so shipped In the week two
years ago.
transactions in lumber, leather, wool, dry
goods and, IN fact, almost all staple lines are
tor actual wants only, and the outlook Is not
Tor material revival during the next sixty
days.
Especial kilograms to Bradstreets from 1ls
Important cities throughout the country indi-
cate the total number OF employees In Industrial
and other lines out Of work at this time from
all causes, together with the total number of
people directly dependent for support upon
those 80 rendered idle, is nearly 100000
There Is an improvement In Christmas
trade among retailers at few western cities
This 10 true at Cleveland, where business in
other respects Is unchanged At Cincinnati
trade Is very quiet Transactions in staple
goods at Toledo are repor ted fair, but in other
lines business is very dull. The holiday trade
~ Detroit is less than anticipated and indus.
trial lines continue inactive. All departments
Of business are reported dull at Indianapolis
and Louisville.
The volume Of Christmas trade 1T Chicago is
only fair and In other lines there is compare
lively little doing, travellers being of the road
and merchants receiving relatively few orders
by mail This is the beginning Of the season for
inventories, which empathiZes the dullness.
jobbers in hats and shoes at ST. Louis report
business restricted to actual wants and the
movement OF iron is as slow as ever There is
no activity in business circles at Kansas City
aside from Christmas specialt1es except In lines
Of cheap goods. Trade remains steady at
Omaha. though smaller than year ago, and
dullness characterizes the situation at Milwau-
kee Minneapolis, Duluth and St Paul. as for
weeks past"
R. g. Dun & Co.'s weekly review of
trade says:
1.-THE year is practically over, except the holi-
day business, which is remarkably we'll sus-
tanned as respects number Of sales, considering
the state Of industries and the army of the un-
employed, but Is materially diminished In VOL
Tune, because purchases average much smaller
In value than In recent years. Probably the
stocks OF holiday goods OF the better class left
on hand after next week will be larger than
usual.
''Other business, ell branches included, ap-
pears from clearing house returns PSI per cent
less than last year at the same date But much
10 done at prices which return no profit merely
to keep hands together or retain customers
and the losses by numerous and heavy failures
reduce profits even where the volume OF trans
actions has given fa1r promise Changes dur
Ing the past week have not been cheering In
character. but the minds OF many are now turn
Ing to the dawn OF the new year with hope OF
better things.
Russian exports are beyond all precedent,
in October and November 20 100000 bushels
against 20, $40, 900 bushels last year, and the
country is selling At ruinous prices because
producers ind 1t necessary to realize
'Corn has declined * cents. Pork products
have been somewhat active and lower, pork Is
Sents ana lard Is cents Wheat is cents low
Or than year ago, corn 10 cents. pork S26O q
barrel, lard IL 60, hogs III cents.
1.-The failure OF the Crane Iron company last
week, with some other smaller failures, out
weighed In influence the resumption of work by
few iron works. and has increased depression
at the east
"Woolen manufacture has started three
more mills, but six have stopped, one employ
ing 5000 hands, and others are reported about
to stop when stocks on hand are worked up.
The shoe manufacture does somewhat better,
though shipments from Boston show decrease
Of "A per cent for the week, and many factories
ere working on orders now nearly exhausted,
while few new orders come in and sales from
stocks are comparatively rare
Tho delayed treasury report In favor OF coin
ing the silver bull1o? on hand substitution OF
other issues for government paper currency,
issues Of bonds and a tax on incomes derived
from corporations attracts not much attention,
but Notwithstanding the abundance Of money
the market is rather less confident in feeling.
It Is believed, however, that the usual pinch
about January will not occur.
''Failures for the week were IA in the United
States, against 2SS last year, and 81 In Canada,
against Is last year The liabilities in failures
reported last week appear to have exceeded
10. 220,5N IN amount, including IS, $685. $50 for
manufacturing and s2.Os4ols for trading con-
cerns against IS, 459 400 for the previous week