The herald., 1895-06-13
LOCAL FIELD OF COMMERCE
Facts and Figures on Returning
Prosperity
BRADSTREET'S STATEMENTS
Manufactures Started Up Since April
LIST Last
RADSTREET'S STATEMENTS
fables Showing the Number of Men Given
Empioynent-Increase in Wages All
Over the Country


leads us to say that without exception
the different lines of business, trade,
manufactures and commerce are taking
on better tone, and that prosperity is
undoubtedly again at our doors.
AS indicative of the outlook,we submit
the following from an interview with r.
W. Burnham, the local representative of
X. &. Dun e. Co.:
Late kilograms from the east indicate
general improvement in business when
compa ed with 1894. In fact the gain has
been so rapid in many departments that
conservatives are led to question whether
the improvemenJ can be maintained.
Clearances continue to expand, and alto
gether there seems every prospect that
eastern consumers will he better ale to
buy California products this year than at
any time since 1899.
In Southern California we shall have
larger crops than for some years, with
promise of better prices for everything
except wool. The country districts are
full of hope and improvement in trade is
made apparent by increased orders from
country merchants, better collections
and freedom from failures.
Retail houses report good average busi-
ness so far this month. Building trades
constantly increasing, but too keen COM
petition restricts profits. Bank deposits
are increasing all the time, with only a
moderate demand tor money in legitimate
channels.
Another San Francisco jobbing house
has found it to its advantage to open a
branch here, and others are promised at
no distant day.
The oil industry has developed far be-
yond what the most sanguine could have
ever expected and promis to make
commercial city of Los Angeles. More
than 1900 barrels of oil are being produc
ed every day. and over $40, 900 per month
is being paid out in wages alone.
So far this month there have been but
two failures, with Liabilities of $675 and
nominal assets.
AS the gradual return of prosperity
throughout the entire length and breadth
of our land, which has been noted from
time to time in these columns, is ques-
toned by many who ought to be posted
in the trend of current events. we submit
herewith the statement of 3radstreet $.
as it is recog nized as authoriy and has
given especial attention to this point,
even presenting a tabulated statement
showing the nun ber of manufactu ring es-
adjustments started up in the middle
south and southwestern north and north
western states, giving the number of en-
ployees given work and the numb ber
whose wages have been advanced. 1t
says:
While there were upwerd movements
in prices and an improved demand from
time to time during 1894 none of whi ch
possessed elements of permanency. they
were. nevertheless. foreiunners of the ris-
ing tide trade which first made itself
visible to the naked eye of even the cas-
ual observer by April in 1895. To those
who, like Bradstreet's, kept "a very close
watch on business conditions, the early
portion of March this year made it plain
that the change had come, although our
statement to that effect was not warmly
received. This was due largely to the dis
position OF the average onlooker to see
only dead level during seasons of de-
preston.
Now. however, he must be blind. in
deed. who has failed to realize that the
tide has turned. and that improveme
in demand IN "all staple lines is the
basis of it. The improvement is due to
the depletion of stocks of retailers
throughout the country during the past
two years of depression to the accompany
ing period of restricted credits, buying
for Immediate wants only, and the pro-
longed, rigid, even enforced, economy on
the part of consumer and producer.
Evidences of the counter movement of
the current have been repeatedly shown.
not only IN improvement in net and
gross earnings of railway companies in
creases in weekly bank clearings total
and long and striking list of advances
of prices of staple products, but also in an
enlarged demand for produce and manu-
factured articles i'll nearly all lines. This
recor has been continued now for about
two months and there IS reason to believe
that the end Is not yet.
Some weeks ago Bradstreet an
has,
trial employees lad been advanced a
most significant feature of the situation,
having direct bearing. as it d id. on the
effective purchasing power of the wage
earning community. Since that we have
thought it we'll to extend the inquiry and
present herewith the results of Il special
investigation at seventyiive cities east
OF the Rocky mountains as to the in
crease in the number of indu trial en-
ployees within the past two m nths. and
some facts bearing on their increased
earnings.
Advces from Boston and other leading
manufacturing centers in Massachusetts,
in New Hampshire, Vermont and Maine
from Providence and Bristol, New Haven
and Hartford.il New England, from New
York city, Albany. Syracuse. Utica. Roch-
ester, Binghampton, Buffalo Pittsburg,
tant Pennylvania manufacturing centers.
as we'll as from Paterson and Newark in
New Jersey, and from Baltimore, covering
the heart of the manufacturing section
of the country, make the str king show
ing that more than eighty important
industrial undertakings which had been
idle have started up since April LIST, Civ
ing employment to 10000 o leratives and
workmen. Some of these nave already
enjoyed an advance in wages, voluntarily
offered in most instances. The reports
show that at the points covered no few er
t.:an lao, 900 industrial employees are re-
ce:ving higher wages than they were get
ting two months ago. an average i'm
provement OF nearly 10 per cent.
The manufacturing districts of next
importance is that covered by advices
from Cleveland, Columbus Dayton,
Springfield, Toledo, Detroit, Grand Rap
ids, indianapolis, Evansville, Terre
Haute, Louisville. chicago, Peoria,
Quincy, St. LOUIS, St. Joseph, Denver
nearly ninety important manufacturing
establishments have started their
wheels, forges or other machinery since
April. 1st giving employment to l,UOO
EN- ployees. But in the region covered,
fully %, 600 operatives have had their
wages advanced about 10 per cent during
the period under discussion.
The south and southwest. as repre-.
sented by score of leading cities. report
nearly fifty important industrial estab-
lshments as having started up, giving
work to fully 2400 employees. But no ad-
vance of wages or strikes are reported