Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1894-01-05
PAST YEARS TRADE
PROVES TO BE THE WORST FOR
FIFTY YEARS.
D1SCOURAGING PICTURE PAINT
ED By DUN Il co.
Iron Industry Employs But GO Per
Cent. of the Usual Force-PriceS OF
Fleece, Wheat and Other Staples
Lower Than Ever Before-General
Summary.

New York, Dec. 29.-In their review
of the past weeks trade Dun 4 Co.
say: Starting with the largest trade
ever known, with mills crowded With
work and all business stimulated by
high hopes, the year 1898 proved, in
the sudden Shrinkage of trade, iii COM
mercial disasters and depression Of
industries the worst for fifty years.
In the iron industry 40 per cent. of
the usual force is unemployed over
half the wooden manufactures are idle.
The price of fleece has fallen 20 per
cent, to the lowest point ever known.
The sales OF cotton goods are fully 4
quarter below the usual quantity. The
shipments Of boots and shoes from
Boston are II per cent. less than last
year.
Not only manufactured goods, but
farm products, also, have suffered
Wheat has repeatedly sold here and 1T
Chicago at the lowest price ever known
and it but II cent above it now Pork
fell 81 i'll IN hour upon Il speculation
burst aau sells lower today Thus I'M
reasonable speculation, by preventing
the sale of surplus products, has PROV
ed Il great injury to farmers at Il
tine when their enforced curtailm@nt
Of purchases is disastrous to all other
Industries.
In the thlrty-SeEen years covered by
the records Of this agency the num-
Der OF failures has only once risen I
ltttle above 1860 in Il year In 1893
the DunIcr reported WAS 1850. Tha
aggregate liabilities i'll al failures Re
ported III SIX years Las risen 4 IIIlG
above %z0O,0oo,00o. This year, strictly
commercial liabilities alone exceeded
$331 ,422 500. The liabilities of banking
and financial institutions are %210,-
sJ6,S ami tbc liabilities Of railroads
placed i'll the hands OF receivers are
about Sl,212.Z17, 033
AS all reports hitherto have been
To some extent erroneous, through i'll
ciIsiOn OF failures not strictly com
i3crcial, the classified returns given be
low Will DC found more complete ana
Instructive than any hitherto publish
cd. They show 3,22G manufacturing
failures With liabilities Of $50, -z4, S:6:
HOUSE, failures III legitimate trade vita
liabilities OF S., :,-!1. S06, and thirty
two fixtures, Including brokers aud
spectators, with liabilities OF %::;t;,-
I;j2,153. The average liabilities in
manufacturing re %J0,0U0; in Iegiti-
mate trading $4,000 and in other fail
ures $1,000.
/ Clear evidence Of Shrinkage in the
different branches Of business is af-
fOrded by answers already received
to several thousand circulars request
ing figures Of sales during the last
half of 1893 and last half of 1892 Full
information regarding the results will
be given hereafter, but the returns Of
textile goods already show sales
amounting to S43,S93, S7J this year
against $1o,:j47 $50 Inst year Iron re
turns thus far aggregate $40, S53, SO
against $50, ,2G,921 last year. Reports
thGS far on jcWelry show Il decrease
81 - PEI cent, on furniture 26 per
cent; dry goods 20 per cent. on hats
! 100 per cent; on hardware 10 PEI
! cent; Oh shoe manufactures IS per
cent; on clothing 10 per cent.
1t is curious that the only trade
showing M increase as yet is in grD-
cclics. tho aggregate sales being
per cent larger.
! New York, Dee %. -Bradstreets
report of the weeks trade says that
with few exceptions the holiday trade
was disappointing. Restriction Of pro-
ductiOn continues, the tendency being
TO add to the number of the uncm-
ploved Of the country.
The exports, Of wheat amount to .
OO0,000 bushels this week. Il quarter
less than the week before At Chicago
there was q further falling off in vol
ume ia almost all lines, the reduction
for the year being about Is per cent.
/ The Milwaukee jobbers continue to buy
for wants only and on as near Il cash
basis as possible.
st. Louis maintains 4 relatively bet
ter trade, although reduced in volume,
than at some other commercial centers
There is little doing at Kansas City
and at Omaha transactions are smaller
40 Minneapolis and st. Paul business
remains very quiet.
New York, Dec 29--A statement
compiled by Br;ldstreet shows the to-
tai bank clearings of leading cities in
the United States for the past week
were SITS, 306, 100, q decrease Of 7 .6S
per cent. compared with the cor
responding week last year.