The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1894-01-05

N business STANDPOINT eB nGKSWe0 f4T
R. @. Dun an Colt Began with the
Largest Trade Ever known and Ended
IAN the Midst Of the Worst Depression
of Our Industries Experienced I'm Fifty
Year-BusinesS Failures, Etc
NEW YORK, Dec. 80.-R. q. Dun Il
Co. s weekly review of trade, issued to-
day, says under the caption, 1.-THE Year
1885,"
Starting with the largest trade ever known,
nifis croTded with work and all business
! stimIulatedBy high hopes, the year 1So3 has
proved, I'm sudden shrInkage OF trade, IN COM
mereial disasters and depression OF Industries,
the worst for fifty years. Whether the final
results OF the panic Of 1881 were relatively
more severe, the scanty records OF that time
do not clearly show. The year closes with
prices Of many products the lowest ever
known, with millions OF workers seeking I'm
vain for work, and with charity laboring 70
keep back suffering and starvation in all our
cities All hope the new year may bring
brighter days, but the dying year leaves only .
dismal record
The review OF the diaerent departments OF
trade given to-day exhibits~a collapse Of INDUS
Try and business which Is almost without
precedent. The iron industry sustained a
weekly production OF 1sl .551 tons OF pig May 4,
but by October tho output had fallen TO "a. $50
tons, and the recovery TO about 100 900 tons De-
cenoer stu leaves 40 Per cent OF the force
unemployed II = IT+t = j
Over half fthesxooierf raannfacturers are idle.
and, excepting brief recovery in November.
have been ever since new wool in May; for all
sales Ht the three chief markets in the eight
months have been but l0e.7o5 $50 pounds, partly
Tor speculation. thevpniee having fallen 20 per
oent for heecefo the lowest point ever known.
against 212, ,33Q eos pounds IN the same months
last year.. Sales OF cotton goods are fully a
quarter below the usual quantity.
The small advance attempted in boots and
shoes year ago. was not sustained. but with
prices as low as ever, the shipments of boots
and shoes from Boston were "A per cent. less
than last year in December, and though In No
yernber the decrease was but 1os per cent it
has been - per cent. for the last four months
Not only manufactured goods as q whole, but
The most important farm products are $50 low
that producers fnd little comfort. Onacdal and
other reports gave the notion that the crops Of
tsair~ ~yearsWerea 60 short that famine prices
could be realized on purchases. Enormous
stoekssFere qCpghts and held with the aid Of
ban8Sstll heaYE receipts iRetke .Spring caused
9 cpllapse at wheat - porksa and cotton pools
Disastrous failures helped to produce the
alarm which soon made money impossible to
get but even at the worst hout Of She panic.
prices were scarcely lower than they are now.
Wheat has repeatedly sold here and at Chi
cagp @t thagIpEest price ever known, and Is
bat half a cent above II now. Pork fell s7 In
an hour when the speculation burst, ,ibut sells
lower yet to-day. Cotton was ~1ffted N cent
with accounts of scarcity in September, but
has lost most of the gain and sells below 8
lSenfsf Thus. pnreasopehleg epeculatiohs, by
preventing the ssle OF Surplus products, have
proved great injury TO farmers at q time
whom their enforced eartailment is disastrous
70 all other industries,
J Monetary tnansactfOns appeared to ealse the
panic, and BECAME epidemic when doubts were
raised in 'ApfA about redemption of treasury
notes In silver. Western banks had given
reasonsfor distrust by coBneetion with real
estate. produee and stock ventures. Deposits
in national bHnksl Alone a Adeereased in five
months nearly A300, 100000 Purchases for con-
sumption SHRINK so much, so many hands were
out, ef work or earning reduced wages. and
business or an Kinds was so reduced that the
accumulation OF idle money became the great
est ever known, exceeding Ss00,OOo,OOo in New
York; T1resYg eeg94 .1af
The Transactions through all clearinghouse
outside New York in January was 125 per
cent glargeE than Hast year and e,S per cent
larger than the first quarter; slightly larger
in thesecond quarter; 81 per cent. smaller in
the third quarter. and p per cent. smaller in
the iast qParter6 C2y S33AAt,. & sYIi
Clear evidence OF the shrinkage in the tifer-
ent branches OF business is Afforded by answers
already received TO several thousand circulars
reqHestiRg figures of sales for 1898 and 1892
Full information of the results Will be given
herSafter but tens Of textile goods already
Rhowsakes amountiHg to se48 643.Ss5 this yeer.
AGainsef t7osl7, ,ss2 last Eear.A decrease Of 80
per cent.
Iron returns thus far aggregate e40, ,S53 ie0,
against e65, ,520q21 last year, decrease Of SO
per cenkl Reports thustfar of Jewelry show
decrease of % per cent. / OF furniture. 26 per
cent; OF dry goods, 20 per cent; of hats, 1915
per cent; Of hardware 10 per cent or shoe
rnanufactureS, Is per cent. andiof sclothing, 10
per cent f....a ,sd
1t is curious that the only trade showing an
increase is in groceries, the aggrega,>, sales
teflig per cent larger than in the last half of
1eeG kez5-rss Esz naa1
In thfrty-seven years, covered by the records
of this agency the number 9ftlaitdres has
only once risen little above 1850 The ag-
Rregate nf=the- liabilities =in=aH=failures re-
ported has in six years risen above $500 600 600,
and this year the Strictly commercial liabili-,
estaloue have EXCEEDED 1891 ,422, $50. The liza
hiliHes 81 banking aud financial institutions
have been s210, ,956, s64. The average OF liabili-
ties. in manufacturing is $50,O00000. in legiti
Tnnte trading, ss.OOOOO0, and in other failures,
ell, 100000.