The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-11-07
Because the Campaign is Now Over.
Tho "Great Business Revival" That
Has Not ACKNOWLEDGEMENTS
In. Observation-Disclosures Facts
Which Democratic Politicians
Ignored.

tweuty-seven working days THIS year,
against s4,o4S,OOO.OOO in twenty.sif
working days last year, and s5,4Ss,oOo,-
900 in twenty.four working days in
1892. The daily average was. therefore,
1897 millions, against 155. 2millions last
year, and 226.6 millions in 1892, so that
Just 20 per cent Of the business OF 1892
was transacted in October, against 6S.8
per cent last year. The gain is en-
couraging, but is not quite enough 70
Justify the shouting OF some politicians.
Part Of the depression is expressed in
lower prices, both for farm and other
products, which have been 73 per cent
lower than last year and 1917 per cent
lower than in 1892. Taking this into
account, the volume OF all business ex-
pressed in quantities is 1856 per cent
OF the business in 1892, whereas last
year it was Ill per cent In other
words, there is work-at low wages
for a little over four.hiths OF the work.
ing force two years ago, though since
that time the people who ought to be at
work have increased in number about
per cent.
These are tho uncomfortable facts
which men have to ignore who talk
about the great revival Of business.
Failures are much less important than
a year ago "Dun's Review" making the
liabilities for four weeks only S,2O6, S92,
against 500. 4s6.7S6 for tho same weeks
last year, but the aggregate is much
larger than it was two years ago. and
the number offailures in four weeks has
been 964, against lao last year and s24
in 1892. A thousand failures in
month hardly denote general prosper
ity. The unnaturally low prices. lower
In October than ever before, are driv-
ing a great many traders and manuiac-
turers out OF business, and those who
survive, have, on tho whole, less to do
and smaller profits than in the years OF
prosperity. Railroad earnings thus far
for October are 49, per cent less than
last year in the United States, aud Ills
per cent less than in 1892, which shows
smaller loss than in September, but
within the last week or two the cutting
OF rates has become serious mattor.
Stocks have been weak on the whole,
though recovering some toward the
close, so that the average Ia only II
cents per share OF 500 lower than a
week ago, while the average for trusts
10 Al cents per share lower
The drop In cotton to 81 cents finds
explanation enough in the enormous
receipts. More cotton came into sight
last month than in any previous month
in tho whole history OF the trade
namely, 2,l0l,227 bales. against 1857, :
555 last year; 1,4G5,067 In 1892 and
2026, 205 in 1901. The exports were
201 900 bales larger than last year. and
the taking OF spinners about twice as
large as last year, but the quantity in
sight here and abroad increases greatly.
The demand for goods does not i'm
prove, and the supplemental orders ex'
pected after the heavy sales in Septem.
Der do not arrive in sufficient quantity
to keep all the mills employed. so that
concessions in prices have been made
to secure large contracts. Prices OF
wool are weaker, particularly for Ohio,
Michigan, New York and Pennsylvania
fleece, and the average OF 104 quotations
by Coates Brothers is 14.l2 cents,
against 1892 October l aud IA In the
middle OF August. A year ago theay
age OF the same qualities was 1885
cents, and two years ago 22.7 cents.
But with free trade prices for wool and
Mckinley duties still remaining on
WOODEN goods, the manufacturers are
only partially employed, and Gales OF
wool at the three chief markets during
the week were 4, 004, 900 pounds, against
7,056,953 in the came weeks OF 1892,
while for the five weeks passed the
Gales have been 90 per cent less than in
1882.
The shoe trade Is doing heavy bust
ness in number OF cases shipped, the
Shoe and Leather Reporter making
Boston shipments 4l7,68l cases for Oc-
tober, against 2S8, 1914 last year. and 1885,
646 in 1892, but the fall in qualities pur-
chased has been so great that the value
OF goods distributed must be about q
quarter less than it was two years ago.
The shops producing cheap goods are
fully occupied, though il is stated that
the aggregate demand for oil kinds is tar
below that OF ordinary seasons. Much
ia made in some journals OF the increase
in iron output after the coal and coke
strikes ceased and there has been some
further increase OF late In a few branches
OF the business, but the average decline
in prices OF all kinds of iron and steel
has been 29.4 per cent since October
1892, while the production 10 about 90
coo tons per week less than the maxi
mum, so that the product Of this great
industry, instead Of !, 900, 900, 900 yearly,
has been reduced to less than 6OO,O0O,-
600. Tho narrowness Of the demand
still depresses prices, though plates are
a shade stronger, and q conference OF
steel rail-makers refused to reduce
prices, although purchases OF British
rails for California use show that part
Of the American markell Is in danger.
Wheat has recovered little during
the week, but is still below 60 cents.
The quantity in sight November was
lO5. S74, 900 bushels, against S., 265 600
last year, aud 7S,624.000 in 1892 and
90, 524. 600 in 1901, and 81, 0S9, 900 in 1880.
Exports continue moderate, being less
than 8, 900, 900 bushels for the week from
both coasts, flour included, but with al.
together unprecedented stocks in sight,
and tho large movement from farmers,
in spite OF tho lowest prices ever known,
there is little chance for speculation.
Corn advanced nearly 2 conts. and pork
and hog products were generally shade
lower. Tho lowest average ever mado
for all commodities was about q week
ago, but tho recovery since has boon in.
significant, only about por cent,
though enough to put tho average
slightly higher than 1t was July Il.
Tho treasury meets deficit oil about
Sl3,500. 900 in October, its customs re-
ceipts being scarcely $, 200, 900 creator
than last yoar, while its internal re-
ceipts were SG.20O.OO0 smaller and its
expenditures SS,I0O.00O greater. Tho