Daily globe., 1883-07-09
BUSINESS OUTLOOK.
The Semi-Annu,l Statement of the Dun
Mercantile Agency.

issued their semi annual review of the bus
mess of the country. They report 1857
failures for the first half of 1883 against
1887 in the corresponding period of 1882,
and 1852 in the same time in 1881. The
liabilities for the first half of 1888 are Co.
100000 as against 5O,OOO,OO0 for the
same time in 1882, and 100000 in the
first six months of 1881. The circular adds:
The results of the business of the last
six months have not been nearly as salts
factory as there was reason to expect.
Neither IN extent nor In the profits real
lied have the expectations been fulfilled
while the expensiveness of doing business,
and the losses by bad debts, have gone far
to obl1terate the margin of gain. The
promise at the opening of the year was
certainly quite as good as it is at present,
with far more certainty as to the amount
to be realized from the exchange of staple
products then in hand, and yet the half
year has been one of very great disap-
pointment. Failures, as will be seen from
the foregoing figures, have not only been
numerous, but have involved large iabil-
ties. These disasters, taken in
connection with the general
condition that exists, imply
arrangement in our commercial and fnan-
cial system which it is difflcuIt to account
for, in presence of so many features of
marked prosperity which prevail. 1t is
true that not few of the disasters which
have been noted are the results of most in
judicious speculation, and that numerous
failures are directly traceable to departures
from some well-known principle for the
| conduct of sound business. 1t is equally
fact that the large amounts of money
locked up in unavailable assets, and with
drawn from the regular channels of bust
ness, make many traders dependent upon
the accommodation or forbearance of
those with whom they deal.
| But the difficulties of the hour seem to
reach Il wider range than is even indicated
| by the failures, for, notwithstanding the
prosperous condition of the consumers
generally, large returns from agricultural
pursuits, good wages, active export de-
mand, and large immigration, the absorp-
tion of goods seems small in proportion
to the production, while the profits on
merchandise and in business generally
are in much smaller ratio than might be
expected under such circumstances. Ex-
cessive competition, unwise production,
business, and the restricted demand for
goods, seem to be the main evils which
beset the mercantile community. So far
as the productive and absorbing power of
the country itself is concerned, it is diff
cult to imagine circumstances more favor
able than at present exist. Distinctive
trades, it is true, are suffering from vari-
Gus disabilities, but it is the result more of
/ nj Cfon nj,
been brought about by transgressions of
by want of ability in the country to
support legitimate industry in any
line, and to consume and pay for rapidly
any reasonable amount of merchan-
disc. The growth of the country is unde-
niable, and not only sure but rapid, and it
IS not improbable that in a very short
time the demand for products will grow to
the extent of the present production.
Waiting for this condition of things seems
to be about the only sure remedy for the
evils which now seem most prevalent in
our internal commerce. Possibly some
adjustment may be reached whereby an
export demand for our manufacturers
may be created On a scale which would
affect the general conditions of trade here.
the vast home market which the country
possesses, will afford the only solution
possible to the present unsatisfactory
condition of business.
In the meantime, those who are content
with reason nFble returns, and pursue a il
gitimate bu ,iness policy in selling goods
only at profit, and to those who are able
and likely TO pay, may certainly indulge
1 n rno n 10 Of
of the favorable reports which we append
herewith as to the promise of the crops,
and the prospects of business generally in
almost every locality.
Under the head of ''St. Paul. the local
agent in this city makes the following re-
port:
The result of the last six months bust
ness has not been so satisfactory as could
have been wished. The long aud severe
winter has been followed by late spring,
and the seasons business has suffered in
consequence; for although the total sales,
from January to July, will doubtless com
pare favorably with those for the same
period last year, they should, from the
great development of the territory tribu-
tary to these points, have been largely in
excess. There was considerable overtrading
done last fall, in some sections, consequent,
doubtless, upon the very fine outlook during
The summer. This refers more particularly
to the Red River valley and adjacent coun-
try. The crops did not turn out as we'll as
was expected. Numerous failures were
the result, and collections were quite un-
satisfactory during the entire season. The
crops, however, this season through the
Northwest generally have been largely ben
Gifted by the cool, moist weather, and the
prospect for a large yield of all cereals
were never better. But the experience of
past years has warned us against too
sanguine expectancy, based upon early
conditions, and extreme caution is the
rule with both buyer and seller, pending
later development. The immense immi-
grafton of last year is being duplicated,
and much is expected from this large acces-
sion to our producing element. The
present indications are promising, and the
general feeling prevailing with our busi-
ness houses is hopeful one.
BosToN, July 8.-Edward Whalan ap
piled to the police of Attleboro for
nights lodging. He admitted he was an
escaped convict from the state workhouse
at Bridgewater, burned Saturday. He said
1 q paoro Jamas GiImora who esca anad nj ith