Democratic Sentinel, Volume 1, Number 29, Rensselaer, Jasper County, 31 August 1877 — TRADE AND INDUSTRY. [ARTICLE]

TRADE AND INDUSTRY.

The Macon, Ga., ice-factory is turning out 10,000 pounds a day, at a cent a pound. f The striking coal-miners in Sangamon county, 111., have resumed work at the old rates. The Buckeye Agricultural Machine Shops at Akron, 0., have closed for a month or so, being somewhat in advance of work and the times. The Vicksburg Herald claims that 50,000 industrious laborers could obtain a comfortable subsistence from the soil within easy distance of that city. The grain receipts at Chicago are becoming enormous. In one day, recently, nearly 2,000 car-loads were received by rail, and over 90,000 bushels by canal. The Pittsburgh Gazette says there is no especial change in financial circles in that city, but a general tendency toward increased activity, the approach of which is very perceptible in the community. Jay Gould and Sidney Dillon offer to build a narrow-gauge railroad, from the Union Pacific at Cheyenne to the Black hills if the local money men will put in half the money, which one-half will be about $75,000. Inspired by the reports of Western crops, an eminent banker of New York, and one of the most sagacious observers and best-informed financiers of the country, predicts that within two years the United States will be overflowing with uuj -vr-ocwl4>l*,

In some respects the strike on the Baltimore and Ohio road was successful. The road is now employing the same number of men as before the strike, and many favors are granted employes heretofore denied. Nearly all the men are now enabled to make full time. The whlespread influence of dull trade after unhealthy speculation is traceable in the failure of several Lyons silk houses, one with liabilities amounting to $1,000,000. The condition of the French manufacturers lias been rendered exceptionally precarious by the partial loss of the American market, and the preference which has been for some time accorded to woolen fabrics. We are doing a great deal of national wailing over hard times, but comparatively we haven’t so much to weep over. In Southern Insia 20,000,000 of people are threatened with starvation. Their crops have failed for two years because of drought, and it will be some months before the growing crop will be available for food. The British Government is sending relief, but the job is a large one and thousands are dying. There is annually imported into the United States from Italy, Sicily, Spain, Portugal and other Mediterranean countries, 25,000,000 pounds of sumach, which is used by all morocco manufacturers. It has just been demonstrated that it can be cultivated with profit in California, and in quantities large enough to supply the home demand. Agricultural societies sre circulating directions for its culture and treatment. The grain shipments of Buffalo via canal for the week ending Aug. 21, amounted to 1,588,817 bushels, against 584,397 bushels for the same period last year. This shows a gain of 1,000,000 bushels to the canal, all caused by low tolls, But for the reduction of the tolls

the railroads would have gobbled the million of bushels; and yet there ha# been a loud civ in New York demanding high tolls on tne canal, put forth doubtless by strikers for the Central and th# Erie. The New York Tribune ventures to issue a warning to business men to beware of dangerous ventures this fall, andshouts out to them to hold hajxl. It finds the stock market booming with wild speculation, and, as to the banks, loans upon stock collaterals to an extent not equaled oetdre since the days of 1879. It ventures the opinion that ‘ ‘the stock market isiu a most critical condition; that a very reckless speculation is sustained by enormous loans by the banks on stock collaterals; that a very great and rapid fall in price of stocks is contemplated by everybody in the street as likely when the strong holders can get rid of their ventures; that prices are shoved up desperately to help them; and that the fall, if it comes, vail bring as great a pressure as that of 1873 uppfi banks very much less able to bear its”