Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-01-19
PROOFS OF PROSPERITY,

Animal Circular of Dunn s. Co.'s CONNER
cial Asency-Decrease of business Failures
in 1SS9-A Survey of the Commercial HO-
rizon-Marked Improvement In the West
ern st .tes.
The figures presented in the annual circu-
lar, lately issued by the mercantile agency
of Messrs. II. G. Dunn 81 Co., in relation to
the failures of 1879, affords most conclu-
sive proof as to the healthy condition of bust
ness. According to The elaborate array of
statistics presented, it appears that the mer-
camille failures for 1879 were 6,658 in num-
Der, compared with 1O,47S in 1878, a de-
crease Of $500. But it is in the amount of
liabilities that the decrease is most marked.
In 1873 the indebtedness due by parties who
failed was 234 millions of dollars, while in
1879 the liabilities were only 90 millions, be-
ing the least of any year since 1871. The
losses by failure in 1879, as compared with
those of 1878 exhibit a gain of $2,50o,000
per week for the entire year. SIT is proba-
BILE, says the circular ''that the gains from
the legitimate advances in the prices of mer-
chandise have been even greater in the ag-
gregate than this sum; but to the compari-
lively limited class who suffer most by mer-
camille failures, the profits realized from
merchandise sold in the year have hardly
been as great as the lesseced loss made by
debt in the year 1879, as compared with
1878. Not only, therefore, have large actual
profits been made upon sales, but the de-
crease in the extent of losses incurred is
SO accurately measured by the figures here
with presented, that their testimony to the
prosperity of the year is most significant. -
table is given showing the
GEOGRAPHICAL DISTRIBUTION
of the failures and the percentages in each
locality, which contains some very sugges-
tive comparisons. In the Western States,
for instance, the figures for 1879 show that
only one trader in every 159 failed. as
against one in every 100 in the Middle
States: and one in every eighty five in the
| Eastern States; while in tho Pacific States
| the failures have equalled one in every forty
| five. On comparing these figures with those
| of 1873 there is apparent a uniformity of
| improvement in the Eastern, Middle and
Southern States, and gains SO marked in
| the Western States as to indicate great ad-
vancement in commercial solidity.
A general survey Of the commercial hori-
ION by the agency, whose opportunities for
| observation are unequalled, begets the fol-
lowing conclusions: 'All the conditions
which were enumerated year ago, in our
circular, as indicating probable return of
prosperity, still exist, but in even greater
force, now that the prosperity hoped for has
been attained. A fear has been felt by
some that the activity in trade, and especial
ly the advance in values, could not be main
| tanned; and that the improvement in business
generally was not of sufficiently gradual
gro with to be lasting. But, as the months
| go by, the signs of reaction seem less and
less marked. Speculation, it is true, has
been INDUCED in as regards numerous
articles, and at one time bid fair to become
| destructive; but it was not allowed to go far
enough to seriously increase production, or
| to disturb domestic or foreign trade, and
| the year closed with numerous
ENCOURAGING SIGNS OF srEADINEss
in extent and character of trade, and also a
| frmness in prices, which are consistent only
with healthy demand.
"a review of all classes, upon whose con
dition the soundness and activity of the
trade of the country depends, begets the
belief that the prosperous period which
has now set in is likely to continue. The
large profits of 1879, which were made up
largely of suddenly enhanced values, will
hardly be duplicated during the current
year; but that the volume of business will
| continue large, and that a fair return will
be realized, is surely reasonable expecta-
ton. There are few disturbing elements
discoverable, except that they are forced
upon the country by politicians or specu-
lators; while the indications are numerous
| that the permanence OF the present prosper
| GUS period is assured
| Nevertheless, "The sudden transition from
long and severe depression to a condition
of the highest prosperity in the trade of the
country, may be productive of other things
| besides large profits, enhanced values, and
improved prospects. The tendency to over
buy at high figures, to stimulate production
beyond the real demand, and, above all,
| the extension of unwise credits, as the
result of largely increased sales, are dan
gers which every sagaclous business man
will be most careful to avoid in
JUST SUCH TIMES AS THESE.
While the debt-paying power of numerous
| traders has been immensely increased by the
| lCNiNoi VI t1edCS ~ AOt no 1OEROtt6u
that there are thousands of business men
whose condition, six months ago, was well
nigh hopelesa. The condition of this class
cannot have been transformed from chronic
insecurity to entire safety by the magic of
few brief months of renewed confidence
| and renewed activity in trade
Having afforded the press and the public
some valuable facts and comparisons, it is,
perhaps, but fair to allow the agency to say
that it is in just such circumstances as now
prevail, that it can be made most serviceable
to the mercantile community. The reason
ableness of this claim is thus set forth: "For
| the discovery of those whom it is safe to
credit, it is certainly source as ample and
as reliable as almost all others open to the
investigator. But regarding those whom it
Is wise to avoid, the facilities of the agency
are such as no one would wisely ignore.
For, however erroneous may be favorable
reports or recommendations to credits, it is
rare that cauticnary information is in error"
We have only to add that this agency has a
we'll conducted Office in this city. at No. 40
East Third street, managed by Mr.. R. h.
Stevens.