, 1897-10-14
JUST FOR COMP RiSON.
SOMETHING IN RELATION TO THE
CONDITIONS WHICH EXISTED
IN 1892.
And Then Look Upon the Fair Picture
Presented in 1897-Then the Banhs
Were Failing and Everything Wa
Tumbling-Now Everything Ia on
the Mend and Mills Are Opening.

Washington, D. c.. Oct 11.-(special
Correspondence.)-The reports OF busi-
ness improvement and activity in manu-,
featuring and commercial lines which
have come to the front since the enact,
ment OF the Dingley law has suggested
10 somebody with a good memory a COM
parison Of present conditions with those
OF the corresponding dates in the first
year OF the Cleveland administration.
1t is a curious fact that the enactment
OF the Wilson law came at just about a
corresponding period with the meeting
o. the free-trade congress in the first
year OF Cleveland's second term. and
that il is therefore possible to contrast
business conditions under the shadow
of approaching free trade with the BUSH
ness conditions in the sunshine OF re-
turning protection. This comparison is
| startling. The period covered in the
comparison is the two months since the
final action upon the Dingley bill COM
pared with the corresponding two
months in the Cleveland term, or from
July "a to September "a, 1893, contrast
ed with July "a to September "a, 1897.
Here is the contrast; it is we'll worth
laying aside for reference:
Week ending July "a, 1S93-Failure OF
Bozeman, Montana, national bank. Four
Denver banks closed their doors. Bank
suspensions in other western cities, Two
banks failed in Milwaukee, and runs .on
numerous o.her banks. Commercial
bank Of Denver fails; capital $250,O 600.
Bank failures at Vernon, Tex, and
Knoxville, Tenn, CAPT al, 5000, 900. Fail
ure OF Takoma, Wash, National bank
capital, 5000, 5000; also failure Of banks
at Great Falls, Mont, and Orlando. Fla.
capital, 5000, 600. Suspension Of work in
manufactures reported from all Sec
tons.
Week ending August l, 1S93-Na-
ttonal banks at Manchester, N. H., and
Indianapolis. Ind, fail; capital $500, 600.
Failure of First National bank at Spo>
kane. WASH; capital $3.50, 900. Ten
banks suspended in one day July 27)
capital s 2 1000, 900. Bank failures in
South Eckc.a, Montana. Illinois, Kan
sas. Texas. Washington, New Hamp-
shire. and correspondingly large num-
bers of business suspensions.
Week ending August 8, 1893-Collapse
o: Chicago provision deal, and many
failures OF commercial houses. Failure
of national bank Of Ell Paso. Texas. Fail
ure OF national bank o: San Antonio.
Texas. Failure Of national bank OF
Muncie, Ind. Fifty-third congress meets
in special session to begin its destruction
of the Mckinley law.
Week ending August 20. 1893-En-
counter between the anarchists and 80
cialists averted by New York police:
meeting Of New York anarchists broken
up by New York police. Failure Of ma.
tional bank at Hindman. Pa. Failure o:
national bank at Tacoma, Wash. Sus-
pension OF manufacturing establishments
in numerous states. Announcement by
comptroller OF currency that 1856 national
banks and $50 private banks had failed
during the year ending August %. Rail-
road receivers appointed during August
for Northern Pacific, Philadelphia and
Reading, New England, and Pittsburg,
Akron and Western.
September-Railroad receivers ap-
pointed for Wisconsin Central. Chicago,
Peoria and St. Louis, Cleveland, Canton
and Southern, and Evansville and Terre
Haute railroads. The mileage Of roads
placed in the hands Of receivers during
the year 1893 was 25,375, nearly one.
seventh Of all the lines in the United
States. and their indebtedness. 31,212,-
317,033. During the year there were
1915 mercantile ~suspeniona. involv.
ing liabilities amounting to $S46. 779, 88S.
During the bank suspensions OF July
loans were made on cali at the New
York stock exchange as high rs II per
cent.
The following statement Of the revival
OF manufacturing Industries during ths
60 days following the enactment Of the
Dingley law. the period corresponding
with the similar dates in the irst year
Of C~leveland's second term, show the
contrast between present conditions and
those OF the corresponding months OF
the preceding administration. The state-
ments which follow are from Brad
streets:
Week ending July "a, 1s97-Twenty
thousand workmen resume work in The
iron and steel Industries. Biglow Car
pet Company at Clinton, Mass, resumes
work; 800 hands. Packer Colliery. n
Rappahannock, Penn. resumes work:
1000 hands. Columbus. Ohio. BueU
company resumes; 400 men. Chicago.
Burlington and Quincy company reports
full complement of hands ut work in IL
railroad shops for 0rst tina IN seyeeaa
years. A largo number Of iron fnenscss
in south resume work. 0fcKennA Steel
Works, Toilet, IN. resungss: 40 kanAa.
Spinners at sin mills, PAtarsoA, N. j.,
receive increase in wages froa 5 70 -
per cent Pittsbarg Pats Ghss Co..
pany, Kokooo. Ina.,rssumes: ~ hoalA
Jones Z Laushty Iron Worls, Httshasx.
resume; $3.50 hands. AGaxns CsnuAl
RaifroAd incseasss wsgss Il supioyea.
Week eodfug Jufy q. Invited I'm.