The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1895-01-11

Wheat and Cotton Are Lower Than
Ever Before.

wheat and Cotton Are Lower Than
Ever Before.
r. G. Dun & Co.'S, New York, week
~ review Of trade saws:
Failures for 1894 are fully reported
this week, being 1885 in the United
States, and 1856 in the Dominion OF
Canada. Liabilities IN the United
States were Sl72, ,092 1856, and in Can
ada S17 ,61e,2f5 Neither the decrease
of over half in this country or the in
crease Of over forty per cent. in Cana
da Is surprising, but the statement
shows that most OF the decrease in the
United States is in manufacturing La
biliiies, while the entire increase in
Canada is III liabilities Of trading con-
serns.
A few States, including New York
and Pennsylvanias show more failures
than in 1898, and IN few Southern
States the amount Of liabilities is
larger, but in central and Western
States very much smaller. In eleven
Of the last thirty-eight years reported
liabilities have been larger than in
1891, though for this year and 1898
the statement IS confined to commercial
failures as ID was not in former years.
The failures have been 1875 in every
Thousand firms doing business. the LA
bilities averaged S132.77 to each firm
in trade, and in proportion 10 the vol
ume o. solvent business represented by |
al clearing house exchanges g. 63 for
every 81, 900.
The complete review Of tho different
branches Of business places in clear
light the fact that prices Of commodi-
ties ere at the lowest level ever known.
Eighty years ago in July prices aver
aged only 70. go per cont. Of the prices
for the same articles, and in the mar
kets Jan. /, 1860, and this remained
the lowest point ever touched until An
gust 10, 1893, when the average fell to
7276, but early this year prices
dropped below all previous rec
ords and have never recover
ed. the average Deccmber25 being on
ly GS. 70 per cent. Of the prices Of 1860.
The range was very little higher mt the
end Of the yoarnnd about as low Octo-
Der %. The fall since a year ngo Las
been 81 pen cent, but very unequal IN
other branches III iron and steel pro-
ducts IA per cent in wool 1874 per
cent. in woolens and cottons about Is
per cent. These changes contrast
sharply with the decline of wages paid
per hours work which averages only J
per cent. less than year ago.
The condition of industries has been
argely governed by the fall in prices,
md while production is much larger
han a year ago, the average increase
jeing fairly measmel by the increase
If 8:24 per cent. in hours of work done
n November compared with the pre-
-ious pear, il has been the controlling
eature in almost every important in
lustry thnt consumption has not kept
,ace with and has not sustained prices
N iron and steel, the lowest prices Of
he year arc at the close and the lowest
yer known, the demand calling for
css than half the usual quantity of
ails, with large decreases in many
'ther branches, though probably the
Ise of structural form was larger III
1874 than ever before.
The WOODEN industry records pro-
uction for the year about a quarter
ass than normal, and for the last four
nonths 2S.47 per cent. less than in
892 in quantity OF wool consumed,
mt IN value Of product the decrease
Ias of cotifse greater
The year has been especially nose-
-orthy for the lowest price of wheat
nd cotton on record. Both suffer
rom unprecedented accumulation of
tocks, the crop being large. Outside
ais country wheat production has not
lcreased enough to justify price of
xty cents at New York, and the nc
nmulation is largely due to false re-
orts OF yield, intended to frighten
uyers aud raise prices. The same in
uence has been felt in cotton, which
also affected by worldwide depres- 4,
on in business and decrease in con-
lmption of goods In other produce
arkets the year has been relatively
IS important