The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1895-01-12
BUSINESS OUTLOOK.
Trade Decreased and Prices at
. the Lowest Level
Tho Old Year Fraught with Monetary
Apprehensions-Intiu Affected
by the Fall in Prices-Fal-
ure Record.

The Old Year Fraught with Monetary
approximations Industries Affected
by the Fall in Prices-Fan-
ure Record.
New YORK, Jan. 5.-R g. Dun 4
Go. weekly review OF trade says:
''Thc complete review of different branches
Of business given Friday places in clear
light the fact that prices OF commodities are
at the lowest level ever known. Eight years
ago, In july. prices averaged only 7s 81 per cent
OF the prices for the same articles and In the
same markets January 1880 and this remained
the lowest point ever touched until August TO-
1895, when the average fell to 1915. but early
this year prices dropped below all previous
records and have never recovered, the average
December &c, being only So q per cent of the
price In 1850 The range was very little higher
at the end OF the year and about as low
October g. The fall since year ago has been
~ per cent; but very unequal in different
branches. In iron and steel products IA per
cent, In wool 1874 per cent, in woolens and cot
tons about Is per cent These changes con-
trast sharply with The decline OF wages paid
per hours work, which as was shown last
week average only one-half per cont. less than
year age.
Volume OF Business.
The volume OF business represented by OK
changes at the principal clearing houses was
s156 $50 600 daily in Dec ember against s14l COZ
600 in January, but 81 per cent. larger
at the enc than last year, while
IS per cent, less than last year
in January Comparing with 1882 year
OF general prosperity, the decrease for
December was 25.l and ranged from PIT to 20.2
below that year since June but at the begin
ming OF the year was 1878 per cent. below 1892
and ranged from 70 to 81 per cent. below that
year. for the first five months.
The Monetary Situation.
During the greater part OF the year busl-
ness has been disturbed by monetary appre-
tensions, the gold reserve in the treasury hav-
ing fallen dangerously low. Two sales Of ESQ,
,o0OoJ per cent bonds gave only tenn
pocary reliet. and at the end OF the
year the free gold had again dropped
to about $50, t94 ,032 The exports OF S4.-
coo gold this week are not because OF
merchandise movement, for the excess of OK
ports over the imports OF merchandise has
been frcm $40 0o0,0o0 to $50, 900 600 per month.
UnQuestionably large Withdrawals OF foreign
capital. through sales Of securities and other
wise have caused the outgo, che duration and
extent OF which therefore depends upon other
than commercial elements. Extraordinary
abundance Of money has resulted from the
general dullness OF trade and the movement
20 this center has been Unprecedented In VOL
tune.
The Industries.
THE condition OF Industries has been large
ly governed by the fall in prices. and while
production is much greater than year ago.
the aggregate increase being fairly measured
by the increase Of 8.2s per cent. in
hours OF work done in November, CON-
pared with the previous year, it has
been the controlling feature in almost every
Important industry that consumption has not
wi "a
tanned prices. In iron and steel the lowest
prices of the year are at the close. The WOODEN
Industry records o production for the year of
about q quarter less than normal and for the
last four months 2B47 per cent. less
than in 1892 in quantity Of wool con"
su,ned. but in value OF product the
decrease was OF COURSE greater. The cotton
industry, while materially close TO the cheap
est point ever known, keeps most Of the mills
at work, but by selling goods at prices quite
unprecedented The output Of boots and shoes
has been the largest known in number Of
pairs. but besides fall in prics below all rec
cords, there hcs peen general preference for
the lower priced goods,
Reached Lowest Figures.
The year has been especially noteworthy
for the lowest prices OF wheat aud cotton on
record. Both suffer from wholly unprecedent-
ed accumulation Of stocks, crops being larger.
Outside this country wheat production
has not increased enough to justify q
price Of sixty cents at New York, end
the accumulation is largely due to
false reports OF the yield intended to brighten
buyers and raise prices. The come influence
has been felt in cotton which i1 also affected
by worldwide dcprecoion in business and de-
crease in consumption Of goods. In other
produce markets the year has been relatively
less important.
The Failure Record
Failures for 1894 are fully reported this
week, being 1882 in The United States, and
1853 in Dominion Of Can dc. Liabilities H.
the United States were 3l72, oo' 1885, Ell in Can
ada S27 ,6l6,2l5. Neither the decrease of over
half in this country, nor "1e increase of over ~
per cent in Canada, is surprising, but the state
ment shows that most OF the decrease in the
United States Is in manufacturing liabilities,
while the entire increase in Canada is liabilt-
ties OF trading concerns A few states, includ-
ing New York and Pennsy lvania, show more
failures than in 1898, and in s, lew 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 1894, though for
this year and 1893. the statement Is confined 80
commercial failures, as it wa, not In former
years. The failures have been 1875 in every
thousand firms doing business; the liabilities
have averaged G132T to each firm in trade
and in proportion to the volume OF solvent
business represented by ell clearing house OK
changes, s.. 63 for every $1,000
Bradst-eet's View,
Bradstreet's says:
There has been no material Improvement
In general trade within q week. A tabulation
OF Bradstreets telcgrAphed reports from the
more important trade centers does not reveal
specially hopeful views as to an improvement
in business in the ne:r future. In m:sny In
stances trade revival is declared to depend on
q settlement OF the currency question The
most encouraging expressions Of opinion are
that merchants are hopeful"
----------------.--
Electricity Instead OF Steam.
BOSTON, Jan. 9.-The New York, New
Haven & Hartford railroad is prepar-
ing to equip it's Nantasket Beach and
Warren and Bristol branches with cleo
tricity. It is stated that the company
intends ultimately to equip all its
minor branches with electricity.
Only Missed Nine Times.