Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-07-09
FINANCIAL.
A Review OF the Business Failures
During the Past Six Honths..
The Outlook in the United States, and
Especially in Texas.

ten Tor The GAIEliE ny Nhi' i~N"'
:. Gard. manager OF Dun's Mercantile
agency In this city. 1t Is of peculiar
interest to the general public, and
filled with much valuable informa-
ton:
Comparing the failures throughout
the United States for the pas SIX
months with those which occurred In
a corresponding period of 1888 shows
An increase In number amounting to
s73. or 5.5lO for the first half Of the
wear 1884. against ! 631 in the first SIX
months ofIss3; All increase OF about
rs per cent. In number. The liabili-
ties for the corresponding six months
of 1884 and 1883 are respectively. sl2i,-
100000 and sGG,0oO,00o In round fig
ures.
The cause OF this enormous growth
In liabilities can he directly traced
10 the recent panic in the East,
mainly centering in New York city,
and II Is the general belief, which u
may be said Is wellgrounded that fslly
two third. of the liabilities are the d.
rect result of gambling enterprises,
though 1t IL true that prominent
financiers, great promoters and men in
high positions have been forced to sue
cumb, the disasters Of the year having
been confined mostly to a wealthy
class and have not been felt so severely
by those in moderate circumstances
engaged in legitimate enterprises.
Compilation of statistics brings To light
the fact that in New York city the lia-
bilities of the last quarter comprise the
greater part of those noted in the en-
tire country during the three months
A comparison of the failures and
liabilities IN many sections of the
United States shows but a slight adj
vance for the past half year, over those
during the same time OF 1888, and
while the disasters of the six months
lust ending have been greater strain
upon thecommercial Interests through
out the l. nited States. than almost any
preceding time Of the same period,
they have not been 50 general as IL
has been the tendency 10 believe. 1t
h true that the heavy shrinkage in
values and the restrictions which
monetary institutions have been forced
to enact, have been severe on COM
mercial interests in general but II is u
matter worthy of considerable thought,
aud of significant moment, that fail
ures have not been more numerous.
The gradual, slow, but steady de-
dine in values OF the general resources
9 of the country In almost every line
4 and the spirit of conservativeness
which has existed for the past two
years as If there was an apprehension
I In the heart of the trade IA 10 the fu-
ture, has had its effect, as proven by
the events of the recent troubles, 9th.
T erwise we would have chronicled the
: most unparalleled of our countr .
n financial troubles.
The. condition of the country l.
best illustrated by comparison OF The
i present state of business with that
which existed in 1878. The panic o
that date came unexpected, like
r thunderbolt out of u clear sky, Will,
the panic of the present year ha
come us II anticipated, and he c,
u more or less provided for.
l. The present outlook OF crops now be
Y. Ing gathered and hopes entertained o
In an abundant yield OF those now littl,
backward, combined with II years
progress and natural growth, supple
"a mented 10y enormous immigration unt
i, the iull use of transportation and facil
tiles of communication, II Is believe,
will materially lessen, If not almos
overcome, the Injurious effects cause,
81 by the recent troubles.
u The trade of the country il holdip,
u up well and has not been material,
Z, affected, and the low prices which pre-
rs vail for nearly all lines of sta
=, pie goods place them more /,
10 the reach OF the poorer classe.
thus offering cheap living /
the way of food and clothing, While
- ought TO increase the demand 70
=, products of every kind, thus bringin
i,s about revival of trade: though maj
W gins are light and profits are sma
m there seems 10 be tendency to reduc
-, both the expense OF living and COZ
y Quoting business, and with MOI
progress In this line, ii Is believed tn
3, balance of the year will bring fort
20 more satisfactory results.
Selecting Texas and viewing he
record for the past six months I'll
-, failures for that period are 2lS In nun
w Der; for the same time in 1883 the
W numbered l6l, Liabilities for first 81
W. months in 1881 and 1883 respectivel
'ss are 81 ,66O. 03T, and Sl,3i5, 1913. Fro,
~ this II Will be seen that the average il
~ debtedpess compared with the nun
~ Der that have failed has declined frui
- SS,So6, for each failure in 1883,
y N,6li for each failure In 1851. An
" while the number of failures has il
y, creased, IL must be remembered th,
vo our state is rapidly filling up vii
" parties from all over the country. nm
~, numerous new business firms one
~ almost daily; this circumstance alor
-, viii account In no small dsrr,
- fol. the excess In the number of failur,
v duriny the present vear oyar th,,a
a., the same period Of 1883. Now GONNA
~ ing Texas with the other Souther
y" states, we find In January, 1854. M
~ live merchants in Texas numbere
~ 1887. and Kentucky had at the san
date IL, 500, or an excess OF 800 me
chants over the number in Texa
"a Outside of Kentucky Texas has
" number all the way from 5000 TO IL
oou more live traders within her DO
,or ders than any other Southern stat,
N Aud taking into consideration IN
"a. number OF parties doing business /
the different Southern states and m
comparison OF the liabiliti,s for M
past six months between Texas AN
~ the others the showing Is a very I,
!. vorable one for our state.
DC The late spring aud recent upfayor,
'e pie weather has slightly injured IN
crops IN the line Of small grain /
some sections Of the state, and I'M
nv thrown the growth of cotton som
three or four weeks back. II has ais
-. retarded somewhat the sal. of cattl
4. Snd WOOL and has had tendency /
4 excite general spirit of conseryatiy,
ness among the trade, though the sale
otmerchanis throughout the state. hay
=, equaled and surpassed the cprresnnnJ