The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-01-11
DuN.s COMMERCIAL REVIEW.


Notable l1~er~ase in Commercial Failures
Prices of Commodities 1T the Lowest
Level Ever knowa-The Outflow of Gold.
NEW Yonk. Jan. 5.-R. q. Dun 4
Co : weekly review Of trade. issued to-
dav. says:
Failures for 1894 are fully reported
this week. being Is. SIS in the United
states and I $40 in the Dominion ~
canada. Liabilities in the United
states were SIZE g.s. $50. and in Canada
sl-.Gl6.si5. Neither the decrease 81
over half in this country. nor the
increase Of over 10 per cent. in
Canada, is surprising. but the
statement shows that most Of the
decrease in the United States is in
manufacturing liabilities. while the
increase i'm Canada is liabilities Of trad
ing concerns. \ few states. including
New York and Pennsylvania. show
more failures than in 1895. and in a
few southern states, the amount Of
liabilities is larger. but in the central
and western states. very much smaller
In eleven Of the last thirty-cight years,
reported liabilities have been larger
than in 1894. though for this
year. and 1893. the statement
is confined To commercial failures,
as it was not in former years The
failures have been l2.5 in every 1000
firms doing business: the liabilities
have averaged Slsa.77 To each firm in
trade. and in proportion To the value
of solvent business represented by all
clearinghouse exchanges ss.J3 for
every $1,000.
The complete review OF different
branches Of business given to-day
places in clear light the fact that
prices Of commodities are at the low
est level ever known. Eight years ago
| in July. prices averaged only s3.cg per
| cent OF the prices for the same arti-
ticles. and in the same Sarkets Janu-
ary l, 1850. and this remained the low
est point ever touched until August 10.
| 1898. when the average fell tn .3-76.
but early last year prices droppcc
below all previous records and
| have never recovered. the av-
erage. December 81. being only
| Gs. q; per cent. of the price in 1850 The
range was very little higher at this
end of the wear and about as low Octo-
Der 25 The fall since year ago has
been 81. per cent: but very unequal in
| different branches In iron and steel
products IA per cent. in wool 1874 per
cent. and in woolcns and cottons
about Is per cent These changes con
trast sharply with the decline of wages
| paid per hours work. which. "a was
shown last week. average only LIZ per
cent. less than a year ago.
The volume OF business represented
by exchanges at the principal clearing
houses was sl56. $50. 900 daily in Decem-
Der. against sI4i.6e4.ooo in January:
but 81 per cent. larger at the end than
last year. while 81 per cent less than
last year in January. Comparing with
1892. year Of general prosperity. the
decrease for December was 26.f. and
ranged from 81: 10 e9.2 below that
year since June: but at the beginning
Of the year was 1913 per cent below
Issa. and ranged from % 10 % per cent
below that year, for the first five
months.
The exports Of e4.sJO.O0O gold this
week are not because Of merchandise
movement. for the excess OF exports
over imports of merchandise has
been from Sso.OOo.O00 10 30.000.'
osD per month. gnquestionably large
Withdrawals OF foreign capital
through sales OF securities and other
wise have caused the outgo. the dura
ton 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 to this
center has been unprecedented in vol
ume.
The condition ~ industries has beer
largely governed by the fall in prices
and while production is much greater
than a year ago, the aggregate IN
crease being fairly measured BY the IN
crease Of s.24 per cent in hours OF
work done in November, compared
; with the previous year. it has been the
controlling feature in almost every i'm
. portant industry that consumption has
. not kept pace with the output, and ha'
not sustained prices
: The wooden industry records pro
; duction for the year of about quarter
: | less imam uOIuiudi. WI VIZ -"
. four months es.i7 per cent. less thar
| in isoe in quantity Of wool consumed
: but in value Of product the decreas'
. was, of course. greater.
The cotton industry. while MATERIAL.
5 close to the cheapest point ever known
keeps most OF the mills at work, bu
: by selling goods at prices quite un
' prcccdcntcd.
The output of boots and shoes ha
: been the largest known in number
pairs. but besides fall in price below
4 all records. there has been a genera
preference for the low-priced goods
and the attempted advance on accoun
of the rise in leather caused marke'
decrease in orders.
. The year has been especially note
worthy for the lowest prices OF whea
{ and cotton on record. Both sune
/ from wholly unprecedented accumula
J. ton Of stocks. crops being larger
{ Outside this country. wheat produe
n ton has not decreased enough to Jus
e tify price II 90 cents at New York. an
a the accumulation is largely due to iais
:. rar,r,s ~ WELD intended to frighte