The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-10-15
SOME COMPARISONS
OFFICIAL REPORTS SHOW THE
DIFFERENCE IN THE TIMES.

Under the First 60 Days of tho Cleve.
land-Wilson Low Tariff the Country
Was in Panic-Under the Mckinley
Dingley Tariff the Country Confident.
E. F. PARSONS, Special Correspondent.
Washington, D. C.-The close of the
first sixty days of the operations of the
new tariff law and the business i'm
provements which are visible in every
direction during that time have sug-
gested comparison of the conditions
during the two months in question
with those of the corresponding date in
the first year of the Cleveland admin
istration, during which time the free
trade congress, elected with President
Cleveland, was lust beginning its at
tack upon the protective system which
the Dingley law sixty days ago re-es-
tablished.
The two periods from July "a to Sep
mber "a in the years 1898 and 1897,
respectively, present a marked contrast
as to business conditions and it is pos
sible to obtain from government records
some data bearing upon this subject
and now especially interesting.
The following data gathered from
official reports presents picture of the
sixty-day period of the year 1898 with
which the two months just ended cor
respond both as to the portion of the
year and the period of the presidential
administration and also proximity to
tariff legislation:
Week ending July "a, 1893-Failure
of Bozeman, Mont, National Bank;
four Denver banks closed their doors;
bank suspensions in other western
cities; two bank failures in Milwaukee
and runs on numerous other banks
Commercial Bank of Denver fails, capi
tai $3.50, 900; bank failures at Vernon,
Texas, and Knoxville, Tenn, capital
5000, 900; failure of Tacoma, Wash
National Bank, capital $2OO,0 900; alse
failures of banks at Great Falls, Mont.
and Orlando, Fla, capital $500, 900;
suspension of work in manufactures
reported from all sections.
Week ending August l, 1S93-Nation.
al bank at Manchester, N. H., and In
dianapolis, Ind. fail, cpaital $500, 900
failure of First National Bank at Spo.
kane, WASH, capital $3.50, 900; ter
banks suspend in one day DULY 80
capital So, 900, 900; bank failures in
South Dakota, Montana, Illinois, Kan
sas. Texas, Washington, New Hamp
shire, and correspondingly large mum
Der of business suspensions.
Week ending August 8, 1893-Col
lapse of Chicago Provision Deal ant
many failures of commission hou ses
failure of National bank of Ell Paso
Texas; failure of National bank Of Sai
Antonio, Texas; failure of Nationa
bank of Muncie, Ind; fifty-third con
gress meets in special session to begir
its destruction of the Mckinley law.
Week ending August %, 1893-En
counter between the anarchists ant
socialists averted by New York police
meeting of anarchists broken up by
New York police; failure Of Nationa
bank at Hindman, Pa; failure o
National bank at Tacoma, Wash. sus
pension of manufacturing establish
ments in numerous states; announce
ment by comptroller of the currency
that 1856 National banks and $50 pri
vate banks had failed during the yea
.nding August 28; railroad receivers
appointed during August for Northern
Pacific, Philadelphia & Reading, New
England and Pittsburg, Akron & West
ern.
eptember-Railroad receivers ap
pointed for Wisconsin Central, Chicago
Peoria and st. Louis, Cleveland, Can
ton & Southern and Evansville & Terri
Haute railroads. The mileage of roads
placed in the hands of receivers durin,
the year 1898 was 25,375, nearly one
seventh of all the lines in the United
States and their Indebtedness $l,212,
e17, ,033.00. During the year there
were 16, 115 mercantile suspensions, in
volving Liabilities amounting to $346.
| 779, $500 During the bank suspen
sions of July, loans were made on cal
at the N. Y. Stock Exchange as higl
as 72 per cent.
The following statements of reviva
of manufacturing industries during the
| sixty days following the enactment o
the Dingley law, the period correspond
ing with the similar dates in the frs
| year of Cleveland's second term, shoy
the contrast between present condition
and those of the corresponding month
of the preceding administration. TIL
statements which follow are from Brad
streets Financial Journal:
Week ending July "a, 1897-Twent.
thousand workmen resume work in th
iron and steel industries; BigeloN
Carpet Co. at Clinton, Mass, resume
work, 900 hands; Packer Colliery a
Rappahannock, Pa, resumes work
1000 hands; Columbus, o., Buggy Co
resumes, 400 men; G. B. & Q. Co. re
ports full complement of hands at wor
in its railroad shops for first time il
several years; Chattanooga Tradesme
/ announces large number Of iron fur
naces in South resuming work; McKen
ma Steel Works, Joliet, Ills, resume
400 hands; spinners at silk mills, Pat
erson, N. j., receive increase in wage
from 8 to 20 per cent; Pittsbur
Plate Glass Co., Kokome, Ind, re
/ sumes, 800 hands; Jones q Laughlil
Iron Works, Pittsburg, resumes, $3.50
hands; Maine Central railroad increas
| wages OF employees.
Week ending July 81, 1S97-To'
Furnaces, Youngstown, o.. resum
work; numbers Of manufacturing con
Germs in Connecticut and Pennsy lvani
resume work; furnaces at Birmingham
and Bessemer, Ala, resume work
Algonquin Woolen Mills, Passaic, Nj.
increases wages 10 to 10 per cent
Atchison Railway Co. announces in
ability to supply new cars to meet de
mands of shippers.
Week ending August z, 1897-En
sign Car Mfg. Co., Huntington, W
Va, resumes work; Cleveland, O.
Rolling Mills, resumes, 1900 hands
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