The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-15

Total ....2si 500 4,264
Number Of failures for November, isSe......... 242
Total for year ending November 90 1897. S.sso
December was really the critical mostb 10 1850, thrss
hundred aud thrrtyeigh failures having occured dur.
ing that month in various parts OF tho country, an
excess OF forty psr cont over the failures OF kogembs
which ranked next in number OF suspensions Follow
Ing out analogy in 1887 tho number OF failures for
the December instant will DO somewhat than Eve
hunored and any, forty per cent Of 305 added 10 400
being 55A IT, then, to ths number OF failures for tho
year thus far bs added Ssh tho proxmate estnie for
december estimate for 1861 Obtained and the az
ures stand a. foiio~s:-
For eleven month3 a "a
fo' %.
Total. sos
The average isbes OF Tho failures for 1857 thus far
have been reckoned by SO 900 per rn, the
average assets paying nfy cents on the dollar Four
thousand two hundred and nlty-four multiplied by ten
thousand expresses therefore the aggregate liabilities
OF the supcndng Arms throughout the country, and the
Mathematics Of hsoillty ADD as stand rs folows:-
Number Of failures during tho year........ 4.2ol
Aggregate iaoIfilies ................. tsz 1uoO0
Aggregate assoes 2lztVuoo
Loss distributed among creditors. s2l. 900
In New York city the ratio OF assets TO liabilities mas
not varied materially from the general ratio though the
average liabilities OF tho Now York firms must be put As
high 10 lfly thousand. This estimate, when Is based
upon the testimony Of expsrts yields Tho following
ngures:-
Number Of failures in New York city. ........ 2s4
Aggregate Ilabites LOU
Aggregate assets. 100000
Loss distributed among cred rors 81 100 600
The loss by failures in Now YORK alone has therefore,
for the past eleven months somewhat eAceedsd sesea
bsen distributed amoog tho wholesa snd joobers OF
the city. In the country at large tho loss has been
sonehing over fourteen millions, a Indicated BY the
Whole amount Of loss throughout the coun.
Loss IN Now YORK city ALONE. loo COO
Loss Sy p. country trad. alone
city bears about ehy per cent tho liabilities Of country
failures being mostly held 10 The Nov York market
carry least eighty i've per cent OF the liabilities OF tho
country trade In addition those Of failures which have
s7o 600 ia equal 70 si2 oa4 900 aud 70 this Is 10 BE-
added Ins $7,ooo, ooa aud :oMethlng more than
Now York e rue who. loss for so
eleven completed months may BE- exhibited IN table -
Lo,s distributed among Now York houses by
failures In the county trade. 500
~ failures IN the city,. 100000
Total loss distributed Throughout, the trade
M New n YORK, . TOR iso . ,n Ia: 4,
which, including tho aggregate losses from country
failures, will somewhat exceed three mi Inns, ng
aggregate or mi Iona for 1907 thus
New York city has. therefore. lost twentsth m-
lions OF dollars In ade during tho year 1861 thus far,
aud n 10 aos improbable, December being critical
month, that tho aDo nt OF loss win mount hiah
twenty ave millions before the date Of January l. 1865
With no Than ths present causes at work;
wnie should any symptoms OF general pan supevene,
whoio fabric Of business viii toppe and fall like
house Of blocks Failures already heavier and
1851 and prcuary Of the list Tor 1857 Is thai il con.
tans larger propor;oa OF heavy names than yearly
list preceding For the six months preceding panic
OF 1851 number Of failures largo wsrs
the aggregate liabilities oil 50 large amount during
the past six months Yhcrs has been . systematic
effort on tho part OF business mcn however 70 avert
panic Failures have been lt.le talked ABOUT;
81 rs OF to aud Other accommodations have been ftesly
granted country asked ior ana general
~ universal ceerninasioo 10 avoid tho widespread DIS
trust and ruin which always accompany panic has boom
au,ia qted az Of
business nndenc, has 0cca carefully maintained s
proDer iodcaton Inc ness OF The bile puise
has been restrained and redaced; and aars, we'll
founded and unounied hsys been dssipa,ed together
Steady contracl,onu voume OF cur cncy, with steady
lesssnng OF values OF stocks has mot been sucsni to
dauKt bus men Ia the on,ses OF the though
every thrAat Of Immediate return TO spscis basis
the business world quaSss aud tenbics. and any sod
den Jump 10 that direction could not but prscpi;ae ito
crlsis 70 illustrate tie Tremendous figures which ihe
nthiv list VI failures - gradually asssmng this
Der Of failures FOR Tho past six mcnths may be coAted
and compared SetjmEcd the figures, bcsianing
WITH last month AL counting backwsrd:-
November 593
septeuber. ........-........ 81
August. 25y
July 2s9
june ............. 10
Total for ii. moa,hs. :. .,.a74
From November, as rule, there Il q siealy aud
heavy Increase in number 81 IN lures anti April
when the number Iegas 10 ~ane aud continues NJ
moderate figure unul October. Beginning with No
vember 1866, during which tierc vcrc two hundred
aud orty-two failures aghius, three hundred ard
for November of this year. the graduation OF this
scse may be exhibited There we're OF failures Tor
November 1858 2i2
December 1855 NEUTRALITY-SUSPICIOUS.. 33s
yanua-y 1887 Observation-Disclosures. sos
Perjury 1901. $40
Marcia 1856. ACKNOWLEDGEMENTS. bS1
Total for the nvo sr.,cs months OF ,hs ssas. ia
should Tho laws OF busiooce prevail Me bcgn-
Mug 1893 that prevailed In tho beginning OF 1881,
aud should tho ratio o. Increase for the coming four
months compared with the liz. for November 1867,
be equal the ratio Of increase which obta ned during
these months last spring, s will be found diicuit.
with tbs caution, IN avert toe general cvago
Of . panic. since tho proportional aggregate for