Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1894-01-06
THE YEAR PAST.


rhs beginning and Ending Of 1893 Frem
. Business Standpoint, ~ Relieved ~
X. q. Dan . Colt Began with the
Largest Trade Ever Known and Endsd
In the Midst Of the Worst Dcpresslon
Of Our Industries Experienced In fifty
Year -Business Failures. Etc.
New YORK. Dec 30.-R. g. Dun II
Co.'S weekly review Of trade, issued to-
day, says under the caption, "The Year
1882
Starting with the largest trade ever known.
mills crowded with work and all business
stimulated by high hopes. the year 1893 has
proved In sudden shrinl,age OF lde, In com
mercial disasters and depression OF industries.
the worst for fifty. years. Whether the hnal
results OF the panic of 1897 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 In
vain for work. and with charity lab0ring to
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 different departments OF
trade given TO- dag O. collapse OF indus
try and business which Is almost without
precedent. The iron industry sustained
weekly production OF lsi .55i tons Of pig May I.
but by October the output had fallen 10 ~, $50
tons, and the recovery to about ,0Oo tons De-
cember stfll leaves % per cent. OF the force
| unemployed.
| Over half the wooden manufacturers are idle,
| and, excepting brief recovery In November,
have been ever since new wool In May; for all
| sales at the three chief markets in the eight
de
| for speculation, the price having fallen 20 per
| cent for fleece to the lowest point ever known.
against sls, 33e, ,oos pounds In the same months
last year. Sales OF cotton goods are fully q
quarter below the usual quantity.
The small advance attempted in boots ana
| shoes year ago, was not sustained, but Win
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
vember the decrease was but i08 per cent IL
| has been 2. per cent for the last four months.
Not only manufactured goods as whole, but
| the most important farm products are 80 low
| that producers find little comfort. Oficial and
other reports gave the notion that the crops OF
last year were 50 short that famine prices
| could be realized on purchases Enormous
| stocks we're bought and held with the aid OF
banks till heavy receipts in the spring caused
| . collapse OF wheat, pork and cotton pools.
Disastrous failures helped to produce the
alarm which soon made money impossible 70
get, hut sYen NJ the wavst nrsff ~ the n
| prices were scarceis lover than they ar p
! Wheat has repeatedly soid here and ~ (
| cago at tbs lowest Price cyer known, and
butb a cent above II now. Pork fetl " IN
sn hour when the speculation surst, bus srils
lover yet &c 4ay. Cotton was lifted cent
with accounts OF scarcity in September, but
I lItsYl lact . fIn lin nd
| cents. Thus unreasUn.hIe speculations, by
preventing the sale OF surplus pr0ducts, hava
proved a great injury to farmers, at time
| when their enforced curtailment Is disastrous
| TO all other industries
| Monetary transactions appeared 10 cause the
| panic, and became epidemic when doubts were
raised in April about redemption Of treasury
| notes in silver. Western banks had given
| reason for distrust by connection with real
| estate, produce and stock ventures Deposits
in national banks alone decreased in Ave
months nearly ,OD000.0O. Purchases for con-
sumption shrunk so much. so many hands were
out OF work or earning reduced wages, and
| business OF all kinds was SO reduced that the
accumulation OF idle money became the great.
| est ever known, exceeding ss00,000,0O0 In Now
| York.
The transactions through all clearinghouse
| outside New York In January was l25 per
cent. larger than last year and 6S per cent.
larger 'isn 'Ne first quarter; slightly lsfses
iE 'pe second quarter, 81 per cent. smaller In
I ,gatAird quarter and y per cent, smaller IL
| ~ '~s' 1agftee -. s,,...,.....
Clear eylieace Of the snrinksge ID II Esrsr-
| AMI branches OF business Is afforded by answer
slready received 10 several Thousand circthars
requesting figures OF sales for 1893 and 1897
Full information OF the results Will be given
hereafter, but returns OF textile goods already
show sales amounting to si3.S43.s75 this yeer
against 0.3i7SSs last year. @ decrease OF u
per cent
Iron returns thus far aggregate A0,S53 lsO
against s65, ,5s0.9.l last year. decrease OF 3
per cent Reports thus far OF ]ewelry show z
decrease OF ~ per cent; OF furniture. 26 pei
cent. of dry goods, - per cent; Of hats. I9,'
per cent; OF hardware, ~ per cent; OF shoe
manufactures, Is per cent, and Of clothing. Il
per cent,
II is curious that the only trade showing an
increase is in groceries, the aggregate sales
Icing per cent larger than in the last half Of
1892.
| In thrty-seven years, covered by the records
OF this agency, the number OF failures has
only once risen little above 1850 The az
gregate OF the liabilities In oil failures re
ported has in six years risen above s0O0OO,000
and this year the strictly commercial liabil
ties alone have exceeded 1881, ~. 9sa. The la
biliiies OF banking and financial institution,
have been sal0. .956s6i. The average OF liabii
ties In manufacturing is i50000.00J. in legiti
mate trading. $500, ,0l0, and in other failures
| All uD nn