The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-04
SPECTATORS LAUGH
THEY HAVE CONTROLLED PRICES
IN PRINCIPAL MARKETS.
Remarkable business Depression
After Summer Revfval-Dun & Co.'s
and Bradstreets Reports.

NEW YORK, Jan. 3.-R. G. Dun & Cos
| weekly review of trade, which issues to-
| morrow, will say: The commercial failures
| during the complete year 1896 number 1887,
| against 13 SS5 in 1884, but the aggregate OF
liabilities is slightly greater, S7S, 1861 900,
against $172. 992, $50, so that the average per
failure is $1S,l24, against $12 45S In 1894. The
bright promise offered by large decrease
| in the first quarter was followed by a small
| increase in the second and third quarters.
| and a large increase in the last quarter
| of the year. In that quarter also the de-
ferred liabilities to each firm in business in
| creased, and also the proportion of de-
| ferred liabilities to payments through clear
| ing houses.
Remarkable contrasts are shown this
| week in prices of materials and of manu-
| featured products. Compared with Jan. 1,
| 1895. prices Of manufactured products and of
material rose for pig iron 75.1 per cent. at
| the highest point, but only 81 at the close.
while manufactures of iron rose 53.7 at the
highest point. and 23.5 at the close. an
| thracte coal rising, 15.3 but closing sc
| lower than Jan. l. 1886. Cotton rose 647 per
| cent. at the highest point, and AL at the
close, but cotton goods only 1873 at the
highest, and AS at the close. Hides rose
755 at the highest point. and 130 at the
close; leather $50 at the highest and IA
at the close. and boots and shoes I9 at
rose IL at the highest point and Go at the
close, but wooden goods rose only one
eighth of 1 per cent at the hightest point,
closing a shade weaker. Silk, 1913 at the
highest point, and 1917 at the close The
comparisons cast much light on the de-
preston and increase in failures during the
last quarter.
of surprising changes which have influenced
al, business. The acreage of cotton was
wisely restricted, in order to give producers
a better chance for fair returns, and the
crop was further reduced to some extent by
injury, but growers were injured still more
by frantic speculation. which checked ex-
ports, and by false information and advice.
Wheat producers suffered in like manner
from wild speculation, which prevented the
exporting of many million bushels, and
false reports which encouraged farmers 10
keep back their grain until the cream had
been taken off the market by speculatprs.
The inevitable consequence has been very
low range in prices. the yield being clearly
in excess of all demands, while Atlantic ex-
ports for the last five weeks, flour included,
have been 9,411, $50 bushels, against 9,073,673
bushels last year. The great crop of corn
has materially affected the prices of meats.
Bradstreets Review of Trade.
NEW YORK, Jan. 3-Bradstreet's to-
morrow will say: The week which ended
1895 and ushered in 1896 has been very dull
in mercantile circles as is usual at this
period. The volume Of business has fallen
away sharply, owing to the New Years
holiday and to quiet in trade circles al
time when stock taking and preparing sam
pies for commercial travellers are taking
the attention of jobbers and commission
houses sackening of activity in some
of the important manufacturing lines is
likewise noticeable and ii is significant that
kilograms from many centers report
mercantile collections slow or unsatisfac-
tory, the exception being at few points
in Southern States. Jobbers in leading lines
at many centers are confident as TO the
outlook for trade in the near future. al
though, in instances, fears are expressed
of an unfavorable effect, due to inability
to secure necessary legislation on financial
questions.
Exports of wheat flour included as
wheaD from both coasts OF the United
States this week amount TO 1856, 731 BUSH
els. compared with $4,000 in the CORE
spending week last year. $4,000 in 1.-The
week two years ago. 3,00S.000 three years
ago, and as contrasted with 1921 600
bushels in the week four years
ago. One week ago the total exports
amounted to 3.475,000 bushels. Foreign ship
ments OF wheat this week, therefore, are
larger than those OF any previous week
of Indian corn this week. which amount
to 3,227, 600 bushels. are exceptionally heavy,
being larger than those for any previous
week since that ending Feb. o. 1892
As is usual at this season there Is
considerable increase In the number OF
business failures, the total reported being
40S this week, against 316 last week, 373
ago and as compared with 313 In the week