The times. [volume] (Richmond, Va.) 1890-1903, 1891-10-11
Largely Increased Failures and Liabilities.

Largely Increased Failures and Liabilities.
The total number Of mercantile failures in
the United States for nine months of 1891
(South Dakota excluded, owing to law there
practically prohibiting the collection Of tho
information Was 500, as compared with
1885 in like portion Of 1890 gain OF /, 1873.
or II per cent. The 1891 total il the heaviest
on record. but the increase il not all due to un-
favorable commercial or industrial conditions
The causes OF increased failures in brief are
IN part the normal growth of the commercial
death rate due to u larger business popula-
ton, but for the greater part to the
prolonged period OF restricted trading, en-
forced economy and resulting wedding out.
following the cOngested money market OF
November and December, 1890. All Of the
States which showed larger increases in the
number OF failures as compared with nine
months OF 1890 report increases in the amount
of liabilities. but there are others in which
lists of mercantile failures have not been
materially augmented. but in which the az
gregate Indebtedness of failing traders
Is much heavier than in like period last
year. notably New York and New Jersey.
Florida. Arkansas. Kansas. illinois. Indiana,
Iowa and Washington. OF the 1928 increase
in the number of failures 493 wefo IN
Southern States, 242 III Western States. 1854 In
Eastern States, l3l in Middle States. 1870 is
Northwestern states. III in Pacific States and
81 in the Territories. More than one half Of
tuc lObtl lucIchso III tu1 uuHlDeT OF lalltlT63
is TO be found in Southern and
Western States. The larger increases
in numbers of failures are reported
from Massachusetts,. 81; Pennsylvania. "a;
Virginia. So Georgia. 81: Tennessee. 81 Ala
bama, 80 Mississippi. 81: louisiana 40 Texas,
147. Ohio III, Kentucky ~ Colorado 80:
Nebraska, 1877: Montana. Az Oregon, 20: and
Utah, 40. Total liabilities for the past nine
months eQualed sl3S.sll,5l0, or more than
in nine months Of any calendar year with
the single exception OF 1884, when the May
panic caused 80 pronounced an uphsayal in
business circles. The increase OF liabilities
during the past nine months as compared
with nine months of 1890 was si6. 269, $50, or
of 1884 the total of liabilities was fl95 95i 900.
In the Eastern and Pacific States only, of the
groups given herewith, have liabilities de-
creased this year as compared with last. and
in those cases only slightly. The increase
in four Middle States WAS ell 1893, $50.
in fourteen Southern States Sl5,I15,-
600. eight Western States els, 233 10f.
and in seven Northwestern States
81 7Sl 752 The Western States therefore,
report nearly 40 per cent. OF the total increase
of liabilities in the past nine months, the
Southern States about 81 per cent. and the
Middle States nearly "a per cent. or together
almost % per cent OF the whole IN these
three groups. The only States show
AS compared with last. are Hasss-
chusetts. 81, G7S, al. or 10l1 per cent. Rhode
Island. s549, $50. or 50 per cent. Maine. $780,
67S; or 26 per cent; New Hampshire. Sls9.992
or IL per cent: South Carolina. <l58.746, or
43 per cent: Minnesota, $500. 9i1. or 80 per
cent: Nevada, $4,000. or 70 per cent. and
Idaho, at. 100 or As per cent.-Bradstreets