The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-07-19

number Of fai' ures and amount OF liabilities
for the six months just concluded, but atten-
ton Is drawn to the fact that this increase
mainly occurred In the first quarter OF the
year. Although the figures for the three
months Just closed are somewhat larger than
there is a marked decline in the figures for the
second quar- er of the current yesr. In other
words, the number of failures In the last three
months are less In number by one thousand
than in the preceding three months of this
year. while the Habit es show a decline of a.
Ov,.o: 10th items showing an Improvement
than ever before In the anne period, and hsp-
| PLY, In this ms ance, the variation is in the
right direction. IL appears from the circular
BET re us tn 4 he average liabilities of each
quarter in the pact eighteen months are ST.
% 900, that the liabilities o. the quarter Just
closed ga $4,000. are sS,OOO,00 less Than the
average.
From these figures Messrs. Dun & Co.
are inclined to encourage the belief that
we have seen the worst effects of the
present depression, so far as failures are
concerned. The ciIcnlar says:
1t is true that business continues in a very
| depressed condition, that the results of trade,
I WI rare exceptions, have been exceedingly
4 unsatisfaelory; that values continue TO de-
| cine and that uncertainty and anxiety exist
| In all quarters. Yet in the face of AL this
| here Is comfort in the reflection that the
| causes which produced this condition OF
| things have been almost completely revers ed.
| In The place OF reckless oyer-tradipe
| we have now Iessened sales, guided
by caution, and also prudence In pur-
ton of all desc iiptions OF manufactures the re
| is now the strongest ten ency 10 limit The
product, and thus lessen the possibility Of a
| st1u further dec Inc in prices. Vastly in-
creased expenditure on publ, works has been
| succeeded by the almost complete CT ssation
| OF cODstfucllOn. Economy IL busin IS aud
| personal e. penses has taken the place, to
| very large extent, of eXtravsgsnce and reck-
! less liberaity, and this very tendency while
4 81 nm afaf
1 the best signs an early return OF prosperity.
| SO thatin a departments there is ev dently a
change, and sucn a change a it was necessary
| for h three years of depression to produ c.
| and win0ui which Ii was hopeless TO expect
| a revival OF busine on sou basis. Hav-
hr hope that a better state OF things may
now prevail? 1t would be idle 10 expect that
very marked improvement will be evident in
| the Immediate future. Things have reached
| 700 desperate state TO permit such hope
| The circumstances OF an exciting political
| campaign are not favor BILE 10 he growth OF
| CONFIDENCE, and the re urn OF business to its
wonted channels. But the com ng autumn
will, IL i believed afford hopeful indications
i2r me inture Another year of great produc-
tive power has Teen given to farmers and
planters, ind the country must be
ton of the agricultural Wealth Wealth
with which itnow teens. Internal Indebted
ness is not excessive; stocks of goods in all
nave touched point so fsr below cost OF pro
ducion, that an mprovement in va ne can
.Iuiy lall 10 taEe place, and IL seems i'm pos
Idle that circumstances could exist IN
| favorable TO improve the condition OF the
legitimate trade ofsupplying the wants o. The
people than now prevail. Speculation and
expanded operation involving large and per-
manent investments are not nbely 70 receive
much encouragement Blu, there ought to be
Az increased demsnd Tor goods OF necessity
and merit, and with this should follow bet
ter reports OF the condition Of the vaIi-
Gus parts OF the country than we are now able
10 present. The power OF absorption by a
vast people In condition to purchase and pay
Tor merchandise Is very great; that power has
re cned Its lowest exercise now; yet, as Will
be seen, we have had less faii ures in the last
three months than for the previous quarter.
and the fact that there are many 81 ns of a
more hopeful condition OF business is unde-
niaole.
By referring to the tsbu,ated statement
OF figures in the various states, we ind
that for the ear 1875 the failures in IL.di-
ana mum bered las with liabilities amount
Ing to 81 976, 1888, while for the same time
in 1875 the number of failures was 156 with
Liabilities amounting to 80 ID All.