Rensselaer Republican, Volume 27, Number 31, Rensselaer, Jasper County, 9 April 1896 — ALLBUSINESS IS DEAD [ARTICLE]

ALLBUSINESS IS DEAD

CUBAN REBELLION HAS PARALYZED TRADE. Enormous Shrinkage in the Crop of AacudfjiiMicSt and WebilM ic» ,£or the First Quarter of Thin Vcar—Carlialc Step* Ont. . ' Business in Cuba Is Stagnant. A special cable from Tlavana. t’uba, •ays: 'Pile total amount of sugar made in Cuba this yqar will not exceed 139,000 tons. The uormal crop is about 1.4*04*.000 tons. ’Pills enormous shrinkage means, it is esfimated. a money loss of $50,000,000. •The tobacco cfop "ill be greatly diminished. Other products of ' the island—hides, mahogany and cedar — •re practically not ’to be had. Business 4s prosi rated. Noth:ng is being done on the .Stock Exchange and the Produce Ex«*hauge is lifeless. Nova Scotia salt codfish. ft staple article, and usually,in great demand, sokl recently f.,r a cent ami twothirds a pound below cost- Flour, potatoes and the commonest necessaries y Ut life cannot be sold on business principle.*. There is no money. No newspapers are printed. The Trade Record. R. <i. Dun & Co.’s Weekly Review ot Trade says: “'Pile regular etnarterly statement of failures shows 4.031 with liabilities of $57,425,133, against 3.802 last year with liabilities of and 42104 in the same quarter of 1804 with liabilities of $411,127,343. The average liabilities were $14,240. against $12,577 last year and $14,909 in 181*4. Manufacturing failures were 833. against 4151 last year, with liabilities of $23,54*7.320, against $20.223,1»!tl last year, increase 10.2 per cent, but the decrease in comparison with —lßl*4 is AU.4 per cent,— Tradlug fa nitres were 3.118. with liabillr.es of $31,421,312, •gainst ,$25,979,81*4 last year: increase 20.9 per cent, hut in comparison with 1894 ihe do.trea.se is 0.9 per ecu L. The ratio of defaulted liabilities to payments through clearing-house was s4L4s_per $1 ,4*oo, the average for the previous ten years having been $3.27 and the average per firm in. business was $47.48. against $38.04 for the previous ten years. The. main increase over last year lias been in manufacturing failures in ‘New York, flVnnsylvania, Ohio and Kentucky and in trading failures in Texas and Minnesota, owing to two recent large defaults. Banking failures have been 51, against 3(5 last year, but with liabilities of only $4,751,972, against $12,482,537 last year. More than half the entire banking defaults were in Northern States, west of the Mississippi., The improve™ eut-experted with spring weather begins, though in some Lranches of business scarcely visible. The backward season has been a hindrance, as has also been the number of hands unemployed in important industries, and the low prices of farm products. The gigantic •teel combination is expected to have ft great influence in sustaining markets ntid stimulating confidence* and, though such ~36pfiFatjons often miss the success they seek, they rarely fail to kindle speculative buying for a time.” Carlisle Out of It. Washington dispatch: Secretary Carlisle declines to enter into a contest for the Democratic nomination for the presidency. He has written a letter to the chairman of the State Central Committee of Kentucky in response to one from the chairman asking him to consent to the use of hr.s name. declining to do so. At the same time the declination is not so forcible as to entirely remove Mr. Carlisle from the list of possibilities. In his letter he says; "The convention ought to have no difficulty in selecti'.ng nil accepts the candidate wild will fairly represent its views, and. in order that its deliberations may be embarrassed as little ns possible by the contentions of rival aspirants and their friends. 1 think my duty to the party will be best performed by declining to participate in a contest for the nomination.”