The Coconino weekly sun., 1894-01-04
THE YEARS REVIEW
crooories tke Only Line That Did
 Not Shrink.
UBry THE BLIGHT FIRST STARTED.
s.,c,s to Have Come On Soon After the vear Commenced and to Have Con- tinucd Right Down to
 the End.

NEW YORK, Dec. S0.-R. G. Dun & Co Weekly Review of Trade says un- dor the caption The Year lSoS:" starting with the largest trade ever2kaown, nils crow led with work and all ou' ines Stm- ",,,cl by high hopes, the year 1893 has proved, ;r sudden shriukagc of trade, in commercial Fisastcrs and depression of industries, the worst for tiTtv years. W nether the final results of ,bc plHic ot lSE were relativel more severe the scauty records that exist do not clearly show The year closes with prices Ot many rrodu Is the lowest ever known, with millions If workers looking in vain for work, and with charity laboring 10 keep back suffering and starvation in alI our cities. All hope the new year ma bring brighter days, but the dying wear leaves only d smal record,
 The review of different departments Of trade given 10 dar exhibits a collapse Of industry and business which is almost without precedent. The iron industry sustained weekly produc. lion Of lsl ,5S tons pig May 1, but by October inc output had fallen to 7S sa5 tons, and the re. GOV " to about tO,OJO December still leaves q per cent Of the force unemployed Over half the wOOlen manufacture is idle, excepting A brief recovery in November, has been since new wool in May, for all sales at the three chief markets: in the eight mont have been but lOs.57l,5OO pounds, partly for speculation, the price having fallen 20 per 
 against @l2, ,S39,O pounds in the same months last year Sales of cotton goods are fully one fourth below the usual quantity. The small advance attempted in Do Is and shoes a year ago was not sustained, but with prices as low as ever the shipments of boots and shoes from Boston are 2i per cent less than last year in December and though in November the de. crease was but los per cent, it has been 22 per per cent for the last four months. Not only manufactured goods as a whole, but the most important farm products are so low that pro- Gucrrs in little comfort
 Ol!ui4l and other reports give the notion that the crops OI last year were so short that famine prices could be realized on purchases Enor- nous stocks were bought and held with the aid ot banks til heavy receipts in the spring caused a collapse of wheat, p rk and cotton pools Disastrous failures helped 10 produce ihe alarm which soon made money impossible Co get but even at the worst hour of the panic, prices were scarcely lower than they are now Wheat has repeatedly sold higher, and Q: Chicago aI the lowest price ever known. and Is but r cent above it now. Pork fell Si in an hour when the speculation burst. but sells lower vet today Cotton was lifted q cent with accounts of scarcity in September, but has lost most of the gain and sells belo 8 cents. Thus unreasonable specuat OnS bV preventing lhe sale Of surplus products, have proved great injury Co farmers al a time when their en breed curtailmeut oi purchases Is disastrous to all other indus tries
 Monetary anxeties appeared 10 cause the panic and became epidemic when doubts were raised in Apr about redemption of treasury notes h silver Western banks had given rtason for dis.rust Oy connection with real estate, produce and stock ventures Deposits in national banks alone declined in five months nearly SlOIUOl,OJl. Purchases for consumption shrdHk so much, so many hands were
 
 wa eS, and business of all kinds was SD reduced that the accumulation of idle money became the greatest ever known, eXceeding SQWnOJJ in New York The transactions through the clearing houses outside New York il January were lt.5 per cent larger than last year, and 65 per cent larger. than for the irst quarter, S7 per cent. smaller in the third quar- ter and ?! per cent smaller in the last quarter
 Clear evidence of the shrinkage in different branches Of business is afforded by answers al. ready received to several thousand circula rs requesting figures of sales during the last half Ot ls9 and ls91 Full information of the rail. roads will be given hereafter but returns of textile goods already show sales amounting to A} si5 ths year, against $7J, ,3I7, ,sS! last year, decrease of S7 per cent
 Iron returns thus far aggregate 2lI.Sj3 ls). against ,6, ,52O 92l last year, a decrease of 3S per cent reports thus far Of jewelry shows de. crease of 2g per cent Of furniture, 26 per cent: Of dry goods 2s per cent; Of mats l95 per cent Ot hardware l9 per cent: Of shoe manufacture, IS per cent, and by dealers, 8 per cent and of clothing, ID per cent IL iS curious that the OnlF trade showing an increase is in groceries the aggregate sL es bel ng l per cent larger than in the last half of lS02.
 ln thirty seven years, covered by the records of this agency, the number of failures has only once risen little above lG,GiJ in q year. In 1895 the number reported has been l6 $50. The aggregate Of the liabilities in all failures re ported and in SIX years hlv5 not risen above SOJ0OOOl, and this wear the strictly commer- cial liabilities alone have exceeded 3l AZ 039; the liabilities of banking and financial institu- tioHs have been s!lO 955, S6I, and the liabilities of railroads placed in the hands of receivers about Sl, I22, ,2lT,Si3 As all reports hitherto have been to some extent erroneous through inclusion of failures not strictly commercial The classified returns show 3,22d mlnufactur ing failures, with liabilities of SlGL5J5, Ii9; To- GS3 failures in legitm ate trade, with liabilities Of Ssj,5.7 S96, and S62 other failures. including brokers, spectators, etc. with liabilities of sSi 6G2 T65 The average of Ii abilities in mauu- featuring k S1O.OOJ in legitimate trading &, OJ and other failures sll,0oI