Cincinnati Chamber of Commerce and Merchants' Exch.

Annual report of the Cincinnati Chamber of Commerce and Merchants' Exchange for the commercial year ending .. online

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Spring Barley Malt had a range of [email protected] cents for the year, averaging 78.
Receipts were 763,000 bushels, against 946,000 the preceding year.

Statistics of the movement of Grain at Cincinnati have ceased to serve as a
full measure of the volume of this business here, even though an almost steady
enlargement is indicated in these exhibits. The geographical position of the
city, with its extensive connections with transportation systems, give it important
advantages, which have as yet been only partially utilized and developed. Be-
sides the large consumption of Grain here, in brewing, distilling, starch manu-
facture, and in other channels, it is a great and growing distributing point for
supplies for the milling interest, not only situated immediately adjacent, but far
eastward and northward, and throughout a vast territory southward, while at the
same time the seaboard and foreign markets draw largely upon the trade of our
Grain merchants for supplies.



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Cincinnati Chambet* of Commerce, 57

It is an interesting and important fact that with the changes and economies
incident to extension of transportation facilities an enlarged proportion of Grain
finds direct movement from regions of surplus to consuming districts, and dealers
in Cincinnati have become the medium for an enormous business of this nature,
which necessarily is not reflected in the usual commercial statistical comparisons.
The possibilities of this feature of the Grain trade here admit of the view that
Avithin a few years this city may become the great central market for transactions
in the distribution of actual Grain for the West and South.

Incident to this reference to the Grain trade centered in this market it is proper
to refer to some general features of this interest. In the production of Wheat
and Corn the United States occupies the first position in the countries of the
world, as also in the exportation of Wheat, including the finished product, Flour.
But the average rate of yield of Wheat per acre in the United States is far below
that reported by many other countries, notably Great Britain and most of the
countries of Continental Europe.

Taking the available data as to production, seeding and exportation of Wheat,
Avith the estimates of population, the indicated consumption in the United States
in late years, exclusive of seeding, has been about 4.81 bushels per capita of
population. On the basis of returns for 1890 the population on July 1, 1891,
was about 64,000,000, which would imply that for the year 1891-92 the domestic
requirements for all purposes, on the usual basis, exclusive of seeding, will be
about 308,000,000 bushels; seeding will require about 54,000,000 bushels; aggre-
gate, 362,000,000, which quantity deducted from the production, 612,000,000
bushels, leaves 250,000,000 bushels as the indicated surplus available for exporta-
tion. At the beginning of the crop year, July 1, 1891, the available supplies of
Wheat in the countr}'^ were reduced nearly or quite to what may be accepted as
the minimum point.

In past years the maximum point reached in the exportation of Wheat from
the United States was for the year ending July 1, 1881, showing a total of
186,475,000 bushels. For the current year, in the light of evidence available at
the time of completing the work on this report, the total exportation is likely to
Teach as much as 220,000,000 bushels, while this quantity will not exhaust the
available surplus by approximately 30,000,000 bushels.

It is interesting to note the development of Flour exportation from the United
States. There has been an almost continuous yearly enlargement in this feature
of trade. In 1876-77 the total was 3,344,000 barrels, and for five years ending
with 1880-81 the annual average was 5,375,000 barrels. For the next period of five
3^ears, ending with 1885-86, the annual average was 8,620,000 barrels, and for the
succeeding period of five years, ending with 1890-91, the average further advanced
to 11,218,000 barrels. For the current year the indications are that the total may
reach or possibly exceed 15,000,000 barrels, representing about 70,000,000 bushels of
Wheat. The largest exportation of Flour previously was in 1889-90, when the
total was 12,232,000 barrels.

Taking calendar year records for a series of years, say from 1880 to 1891 in-
clusive, embracing twelve years, the annual exportation of Wheat from the three
great surplus countries averaged as follows: United States, 133,000,000 bushels;
Hussia, 77,000,000 bushels: India, 33,000,000 bushels.



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58 Forty-third Annual Report of the

The countries of the world usually embraced in the records of Wheat produc-
tion had an outturn in 1891 reaching approximately 2,190,000,000 bushels of this
grain. The feature of the year was a great deficiency in Russia, with also an
important shortage in France; but the aggregate results were not so seriously
below average conditions as was apprehended would be the case, while the United
States and Canada were favored with unprecedented yields. In the case of
Russia, the crop of Rye in 1891 was even more seriously deficient than Wheat,
Rye being grown in that country much more extensively, and entering into food
food supplies greatly more than Wheat.

The total Wheat production of the world in 1891, here spoken of as approxi- .
mately 2,190,000,000 bushels, is exclusive of Caucasia, Asia Minor, Persia, Poland,
Syria, Cape Colony and Tunis, not ordinarily included in the commercial totals.
These countries are credited with about 165,000,000 bushels of Wheat in 1891, of
which Caucasia represented 74,000,000, the returns for which country have not
heretofore appeared in such statistical exhibits.

An approximation of the world's Wheat production for a period of ten years
previous to 1891 indicates an annual average of 2,055,000,000 bushels, toward which
European countries contributed a yearly average of 1,236,000,000 bushels, North
America 475,000,000, and other countries (India, Algeria, Egypt, Australasia, Chili
and Argentina) 344,000,000.

• The Corn crop of the United States far exceeds that of any other countr}'' in the
world, and is an especially important factor in the basis of meat production in this
country, the exportation of this grain ordinarily being unimportant in volume.
The official estimate of the 1891 crop is 2,060,000,000 bushels. So far as can be
judged by analysis of official data the domestic consumption of Corn in late years
has averaged about 1,750,000,000 bushels annually — ranging as low as 1,525,000,000
bushels, for the year ending November 1, 1888, and as high as 1,860,000,000 bushels,
for the year ending November 1, 1891, at the close of which period available sup-
plies of this grain were practically at the point of exhaustion. Previous to 1891-
92 the largest exportation of Corn was in 1889-90, reaching 102,000,000 bushels.
For a period often years ending with July 1, 1891, the average annual exporta-
tion of Corn was 49,000,000 bushels, representing slightly less than 3 per cent, of
the production during the same period. The consumption of Corn in distillation
of spirits is 15,000,000 to 20,000,000 bushels annually — say approximately 1 per
cent, of the production.

Full statistical details of the Grain trade will be found elsewhere in this
volume.

FLorR.

The receipts of Flour were decidedly larger than in any i)revious year, reach-
ing 1,712,000 barrels, in comparison with 1,587,000 in 1889-90, when the total was
443,000 in excess of the largest previous year. For ten years previous to 1889-90
the annual receipts averaged 930,000 barrels. The local manufacture of Flour is
not especially large; within the calendar year 1891 the output of five mills, in
the city and adjacent, was 227,963 barrels.

The fluctuations in prices of Flour in this market in 1890-91 were not espec^
ially wide. For the first three months of the year the outside range for Winter



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Cincinnati Chamber of Commerce. 59*

Family averaged about 84 10 per barrel; the second three months, $4 00; the
third three months, $4 30; the last three months, $4 15. For the year the aver-
age prices, taking in the range of each grade mentioned, were $i 04 for Winter
Family, «3 64 for Winter Extra, «3 06 for Winter Superfine, and 84 60 for Spring
Family. Compared with the preceding year values averaged about 75 cents per
barrel higher, and in comparison with a period of ten years previously about
35 cents per barrel lower.

There was little of special- feature incident to the year's trade. The market
was liberally supplied throughout, the offerings embracing a large proportion of
the higher grades.

Statistical details appear on pages 95, 107, 108 and 130.

MILL FKED PRODUCTS.

The total receipts of Bran, Middlings and Shipstuff were 31,700 tons for
1890-91, exceeding any previous year; this compares with 25,800 tons in 1889-90,
and an annual average of 21,200 for ten years previously. Prices of these pro-
ducts were somewhat variable. The lowest quotation for Bran was 811 oOQll 75,
about the first of August; the highest was 821 [email protected] 00, the first week in April ;
the year's average was 816 64, compared with 811 16 for 1889-90, and an annual
average of 813 50 for ten years previously. Fine Middlings ranged at 816 [email protected]
17 00 to 823 [email protected] 00, the average being 819 57, compared with 812 76 in
1889-90, and an annual average of 817 80 for ten years previously. The year's
average for Coarse Middlings was 818 27, compared with 811 49 in 1889-90, and
$15 90 for a period of ten years previously. Shipstuff averaged 816 99, against
811 13 in 1889-90, and 814 30 for a period of ten years previously.

Comparisons in detail appear on pages 108, 109, 131 and 140.

HAY.

The receipts of Hay were large for the year, 111,000 tons, compared with
97,000 the preceding year, and an annual average of 65,000 for ten years pre-
viously. Prices of No. 1 Timothy, loose pressed, in lots on arrival, were fairly
steady the first half of the year, the range being chiefly within 89 [email protected] 00,
with some instances of 810 50. In April prices were advanced to 815 [email protected] 50
under a temporary reduction in arrivals, subsequently receding to 810 [email protected] 50,
and later in the commercial yeai- 812 [email protected] 00. The average price for the year
was 810 58, against 810 56 per ton the preceding year, and 813 70 for a period of
ten years previously.

Statistical exhibits appear on pages 131, 140 and 148.

PROVISIONS.

The trade year in Hog Products is calculated as beginning on November 1^
divided into winter and summer seasons — the first, four months ending March 1 ;
the second, eight months. Cincinnati continues to operate far more actively in
the winter months than in the summer season, in slaughtering Hogs. The year's
business here varies in its relation to other Western points, under the more or
less urgent demand from Eastern markets for Hogs, with its influence on supplies



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•60 Forty-third Annual Report of the

and prices in territory immediately tributary to this city. The enlarged demand
eastward for Live Hogs has operated against growth of slaughtering operations
here in late years, but this has been balanced in a large measure by the facilities
for receiving Green Meats by refrigerator cars from Western points, so that the
curing operations here have been well maintained, under the encouragement
which this interest finds incident to the favorable situation of Cincinnati as a
distributing center. Und^r this change in the order of things the record of
slaughtering has ceased to afford an indication of the relative business done at
Cincinnati in handling Hog Products.

The receipts of Meats the past year have largely exceeded any previous yearly
record, the total being 103,000,000 pounds, in comparison with 78,000,000 for
the preceding year, and an annual average of 59,000,000 for ten years previously,
the average for the next previous ten y^ars being 28,000,000 pounds.

The shipments of Meats for the year were 132,000,000 pounds, compared with
103,000,000 in 1889-90, and an annual average of 101,000,000 for ten years pre-
viously; for the next previous ten years the annual average was 103,000,000
pounds.

The number of Hogs slaughtered at Cincinnati for the year ending March 1,
1891, was 523,800, compared with 464,500 the preceding year, and an annual
average of 520,000 for ten years previously. The largest yearly total was in
1878-79, showing 778,000. ' ■ •

For the past year the entire range in prices of Short Rib Sides (dry salted) in
this market was 4j^@7f6 cents, averaging 6.04 cents, compared with 5.23 the
preceding year, and an annual average of 7^ cents for ten years previously.
The entire range for Lard (winter prime steam) for the year was [email protected]}i cents,
averaging 6.20, against 5.96 in 1889-90, and 8.10 cents annually for ten years
previously. The year's range for Hams (sugar-cured) was 8^@12 cents, averag-
ing 10.17, against 10.67 in 1889-90, and 11.66 for ten years previously.

The extent and importance of Western pork packing operations may be judged
by reference to figures of cost of Hogs purchased by packers. For the year ending
March 1, 1873, such outlays amounted to $64,000,(X)0. At that time summer oper-
ations were small. Through the changes which have been going on this feature
of the manufacture has greatly enlarged, so that records for the summer season
have advanced in significance equal to those of the winter season. In 1881-82 the
cost of Hogs for the year reached $154,(KX),000, and for the succeeding year a like
sum. • Prices were exceptionally high in those years. With lower prices subse-
quently the aggregate outlay for Hogs was reduced. But the enlarged number of
animals marketed in 1890-91 brought the total cost of Hogs for the year up to
8158,000,000.

For the period of ten years ending with March 1, 1S91, the aggregate outlays
for Hogs in the West by packers were $1,350,000,000, and the number of Hogs
handled during this period was 117,000,000. Within the same period Eastern
slaughtering concerns handled 47,000,000 Hogs, for which the outlays were fully
$550,000,000.

The enormous proportions of these figures suggest the importance to which the
pork packing industry has reached in the United States.



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Cincinnati Chamber' of Commerce, 61

Turning to the records of exports, it is shown that the highest valuation in the
annual clearances of Hog Product was in the year ending June 30, 1881, reaching
nearly 6105,000,000. For the ten years ending in 1891 the annual average value
was over 870,000,000. During this period there was a great enlargement in the
exports of Beef, including the dressed, salted and canned product, reaching $28,-
500,000 in 1890, and a like amount in 1891, the annual average for a period cover-
ing ten years Being something over $19,000,000. In 1890 the aggregate exports of
Beef represented 398,000,000 pounds ; in 1891 it was 361,000,000 pounds. Besides
this exportation of Beef Product the clearances of Live Cattle reached a value ex-
ceeding $30,000,000 for the year ending June 30, 1891, and $31,000,000 the preced-
ing year.

In the consumption of swine flesh, no other country approaches the United
States in the rate per capita, and it is evident that no animal food product in gen-
eral use. is shown to be more free from unwhplesomeness. An analysis of the in-
dicated animal slaughterings of Hogs in the United States and the exportation of
product, leads to the conclusion that about 57 pounds of swine flesh are consumed
annually per capita in this country, and about 8 pounds of lard.

Statistical details of the Provision trade interests will be found on pages 110
to 128, inclusive.

BUTTER AND BUTTERINE.

The reported receipts of Butter for the year were 72,800 packages — it being
impracticable to state the quantity by weight, which may be estimated at about
4,000,000 pounds. The supply varied but moderately from previous late years.
The range in choice dairy quality for the year was as low as [email protected] cents per
pound, in May and June, after having reached [email protected] cents previously; average
for the year 14.98 cents, compared with 13.50 in 1889-90, and 19.50 as the aver-
age for ten years previously. Fine Creamery Butter ranged as low as [email protected]
cents, and as high as [email protected] cents, averaging 22.89 for the year, compared with
20.81 the preceding year, and 27.21 as the average for ten years previously.

The year's receipts of Butterine were 2,224,000 jmunds, largely exceeding pre-
vious years. Average price for the year 16.23 cents, compared with 15.28 as the
average for ten years previously.

Statistical comparisons appear on pages 129, 140 and 142.

CHEKSE.

Receipts of Cheese for the year were 120,000 boxes, slightly smaller than in
1889-90, but exceeding any previous year in a long period. Prices were [email protected]^
cents per pound for choice factory quality in September, continuing compara-
tively steady for several months, advancing moderately in January and subse-
quently, until 11>^@12 cents was reached in April, under reduced ofierings inci-
dent to the closing period of the season for this product. Subsequently prices
receded to [email protected] cents, ruling at [email protected]^ at the end of August. For the year the
average price was 9.60 cents, compared with 9 cents in 1889-90, and 10.46 as the
average for ten years previously.

Statistical exhibits appear on pages 129, 140 and 143.



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^2 Forty-third Annual Report of the

EGGS.

The arrivals of Eggs for the year were 262,000 packages — falling somewhat
below the preceding year, but comparing well with other years in quantity. The
range of prices was [email protected] cents per dozen; average for the year, 16.30 cents,
compared with 13.54 in 1889-90, and 16 cents as the general average for ten years
previously. The facilities offered by cold storage serve to equalize prices, by the
opportunity afforded for removing supplies from the market at times when they
are excessive.

Tabular comparisons appear on pages 129, 140 and 143.

DRIED FRUIT.

Owing to failure of the apple and peach crops in 1890 in the larger produc-
ing sections east of the Rocky Mountains, with exception of some localities in
Western Tennessee, Missouri and Kan^sas, high prices for Dried Fruit prevailed
throughout the year, quite in contrast with the exceptionally low values of the
preceding year. Quotations of prime quality Dried Apples were [email protected] cents at
the opening of the year, continuing without essential change until January, when
they Were advanced to S}4®9}4 cents, and subsequently to [email protected] cents per
pound. For Dried Peaches, .the year began at [email protected] cents per pound, for prime
quality, ruling quite steady until December and January, when 8}[email protected]^H ^^^
9^@10^ cents were reached, subsequently receding to [email protected] cents. There were
considerable supplies brought over from the preceding year, and the consumption
of these fruits \va8 large, the stocks being depleted to a low point. A feature of
the season was the demand for sun-dried apples to the neglect of evaporated fruit,
the latter declining in price, while the former were advancing. The average
price for the year for Dried Apples was 9.07 cents per pound, compared with 3.72
-cents the preceding year, and 4.80 cents as the general average for a period of ten
years previous to 1889-90. The average price of Dried Peaches for the year was
8.16 cents, compared with 3.11 cents the preceding year, and 5.81 cents for a
period of ten years. There was considerable trade in California Dried Fruits
during the year, although the distribution was restricted during a portion of the
time by the advanced values asked, and there was some stock carried over to the
new season.

Statistical details appear on pages 130, 140 and 144.

GREEN FRUITS.

Cincinnati is favorably situated with reference to securing supplies of Green
Fruit, including both home and tropical varieties. Thus it has become an im-
portant distributing point, and the traffic has grown to significant proportions.
Values are equalized, and losses are reduced very greatly, by facilities which cold
storage warehouses furnish for removing from the market excessive supplies,
and making them available at times of less abundance.

With reference to Apples, the supply in 1890-91 was cut short by the deficient
crops of 1890, the year's receipts having been but 153,211 barrels, the smallest
quantity in eleven years, and comparing with 210,000 in the preceding year, and
an annual average of 257,000 for a period of ten years previously, within which



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Cincinnati Chamber of Commerce. 63



time the largest arrivals were 363,000 barrels, in 1887-88. Prices of Green Apples
in 1890-91 averaged the highest in ten years, $3 49 per barrel, for prime to choice,
<;ompared with $2. 82 in the preceding year, and an annual average of ^2 46 for
ten years previously.

The receipts of Oranges for the year were 815,033 boxes, largely exceeding any
previous year ; in 1889-90 the receipts were 24t5,000 boxes, and for ten years pre-
viously the annual average was 124,000 boxes. The average price of Oranges was
$3 52 per box, compared with 84 01 in 1889-90, and $4 53 for a period of ten
years previously.

Lemons were received to the extent of 52,562 boxes, falling short of some
previous years, notably 1889-90, when the total was 71,000, the largest recorded;
for ten years previously the annual average was 42,000 boxes. The average price
was 84 39 per box, compared with $4 64 in 1889-90, and an annual average of
S4 66 for ten years previously.

Of Small Fruits, etc., there was a supply far exceeding any earlier year, the
records showing a total of 21,261 tons, compared with 14,600 tons in the preceding
year, and 8,000 tons five years ago.

Incident to the disposition of consignments of tropical fruits, etc., in thi^ city,
an auction exchange has been inaugurated, where sales are had at regular times,
and which have so fully attracted the attention of dealers as to become a feature
of success in the facility thus afforded for advantageous disposal of the various
articles and lots offered on the market.

GRASS SEED.

The receipts of Clover and Timothy Seed for the year were 77,400 bags, the
smallest total in seven years; in 1889-90, 118,600 bags; for ten years previously?
an average of 89,000.

Values of Clover Seed in this market were fairly steady during the year, the
range in prices for lots on arrival being 6%@1]4 cents per pound, averaging 6.88,
compared with 5.64 in 1889-90, and 8.20 for a period of ten years previously.
The year began with liberal stocks on hand, and a good supply was maintained.
This market at times does considerable business in shipping this product to
Europe. The Clover Seed crop in 1890-91 was irregular, and as a whole deficient
in both quantity and average quality.

The price of Timothy Seed was quite steady, the range for the year being
$1 [email protected] 40 per bushel for lots of prime quality, on arrival, averaging $1 30, the
3anie as in 1889-90; for a period of ten years previously the average was $1 90
per bushel. The year began with liberal supplies, and ended with a large stock
on hand. The quantity of old seed carried in the market in recent years has
had a tendency to depress values to a more or less degree. The crop of this seed
in 1891 was ample.

Statistical comparisons and exhibits will be found on pages 130, 140 and 146.

GKOCERIES.

The receipts of Sugar during the year were in excess of any previous year;
of Molasses, only equaled in a single instance, ten years ago. The receip under the widening demand for
such work. The total sales of Boots and Shoes for the year were 811,735,000,
against $11,027,000 the preceding year. The local manufacture represents about
62 per cent, of the entire business. An incident in the distributing trade in this



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Cincinnati Chamber of Commerce, 69

line is the increasing tendency in the direction of shorter period of time-sales to
interior dealers, particularly noticeable the past year.

CANDLES AND SOAP.

The shipments of Candles for the year were 150,815 boxes, compared with
171,000 in 1889-90, and an average of 196,000 for a period of ten years* previously;
for earlier years the business was of much larger proportions. The price of Star
Candles averaged 8.50 cents per pound, the same as in 1889-90; for ten years pre-
viously the average was 11.80 cents.

The Soap trade in 1890-91 exceeded any previous year ; the shipments were
1,011,831 boxes, compared with 927,000 in 1889-90, and 691,000 as the average for



Online LibraryCincinnati Chamber of Commerce and Merchants' ExchAnnual report of the Cincinnati Chamber of Commerce and Merchants' Exchange for the commercial year ending .. → online text (page 6 of 34)