The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-04-28
Mercantile Failures Of the First
Quarter.

The report OF failures in the United
States during the first three months OF
1875, which has just been issued to the
subscribers Of their Mercantile Agency by
R. G. Dun & Co., is an interesting and in
structiye bulletin Of the mercantile health
of the community. COndensing the tables
and anaIyzing the results, We find that
during the first quarter Of the present
year the total number Of failures recorded
was 1888, with liabilities to the amount
Of SIS, s73222, OF this total, New York
city furnished $s,4OO5OO, or the State Of
New York, including the city, Sll 1885,
O62, being over twenty-eight per cent. Of
the whole amount. The failures in Ohio
numbered 70, with liabilities to the
amount Of $l,ls7,l56.
This is the first quarterly statement
that has been issued, but taking the re-
ported failures Of the three preceding
years and dividing each by four, We find
that whilst in 1875 the number Of failures
was 1888 and Liabilities $SS,s73,OOO, one
fourth the failures in 1874 was ,457 with
liabilities to the amount Of SSS,S00, 900;
in 1873 the fourth was |, 20j and liabili-
ties $5T $4,000, in 1879 the fourth was
l,Ol7, and liabilities SSO,2G4,OOO. The
comments Of the Agency circular are to
this effect:
Thus farm 1875 the failures have not
been largely In excess Of previous years,
while tho amount Of liabilities shows no
increase whatever above tho average OF
years. Considering the continued de.
preston in numerous interests, the OK.
Ceeding severity Of the winter, and the
lateness Of the spring, the conclusion Is
on the whole encouraging, II was to 10
expected that numerous wrecks from the
panic Of 1878 would be discovered long
after the storm had passed, aud probably
not few OF the above failures can BIC
thus characterized. The ability TO stand
the pressure Ol these continued hard
times, and the steady maintenance OF
credit which the above figures imply,
under all the adverse circumstances OF
the season, Is subject for congratula.
ton.
In New York City especially do we
notice q very considerable diminu-
ton In tho number Of failures. In two
or three very important lines OF trade
there has not been any failure at all OF
prominence during the first quarter Of
the year, while the few very distinctive
failures Of tho year, thus far, have been
confined to branches Oftradc In which
there have been very few failures hIlher.
TO. Even these arc far more to be attrib.
uted to nm OYer.prOduCtiOn and undue
competition, excessive oven IN prosper.
Gus times, than the result Of general
depression. There are important indica.
tons Of gradual though slow return to
activity in prosperity in several leading
departments of business, aud the above
figures show that the trade, thus far in the
year, has been by no means disastrous, II
not altogether satisfactory.
The average Of liabilities Of the fail.
ures this year 50 far il much below the
averages Of the three years preceding In
1872 the average, taking the full years
figures ms The basis Of calculation, was
$20,7G5; in lS73it had jumped to $II,OSG;
in 1874 II had fallen to S9G, G27; during
the nrGsent yunr II hnS bppn 500 S77.