St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-11-03
Actna


he l-l4 emb2TraSSnells reported
during the last nine months carry liz
blIles amounting 10 S34,0S7, los. about
1oUr aud q quarter Lme The aggregate
Indebtedness OF the 1873 embarrassed
Individuals. firms ana corporations IN a
Ike period OF IS92. and nearly Two
and One-h21 times the total indebted
ness OF the S,S56 concerns reported
as having suspended II nine months OF
1881 The largest aggregate indebted
ness Of falling traders eve reported II
nine months in any preceding calendar
year was IN 1884. q year OF panic also. II
which the total number Of failures re-
ported during nine months Was &5g2,
and aggregate Liabilities S1g5. 95L.D0Q.
only 90 Per cent Of the like Indebtedness
reported TINS Tar IL 1885, while the total
number OF failures reported il ISL
amounted 10 70 per cent OF The aggregate
thus far this year.
During ten preceding years the ratio
Of assets 10 liabilities OF those reported
embarrassed and falling has ranged
during years which NAV be recorded as
@ or less 1ornall from As 10 81 per
cent at dates Of failure. but II 1854 4he
proportion OF assets 10 Liabilities was
much higher. % per cenI. Is during
periods OF panic, OF when The money
market suddenly becomes and long re-
mains stringent. many who may oTdi-
n2rlly be cIasSed as solvent are forced
10 The wall and Obliged 10 suspend Dry
menLS-3a many Instances practically
forced IlJo failure. For this reason il
Will be seen that II periods such a have
been described the RATIO OF assets TO la
DlITtl6S becomes naturally much highe r
than when business Is more nearly nor
nal 50 the relative severity Of any
money ~stTlngeDcy or Of panic during a
given period may be measured BY II z
abnormal increase ID ratio Of assets 10
Liabilities OF these suspended OF falling.
With this eXplaIi0n The relative severity
Of the reeen panic III The money mar
ket, particularly when compared with
the disturbance IN May, ISL Is made
plain by referring 10 Inc foregoing tab
ul2r exhibit II which il is shown that
he assets OF n individuals and
concerns reported embarrassed mount
this ear 10 70 per ZEN OF the total
liabilities al dates OF failure, an ex1raor-
binary as well as an unprecedented
showing
New York city alone. Of all Localities
specified IN ths accompanying records.
mas shown q m0deratlng tendency dur
Ing the last nIne months. SO tar as the
number OF eInBarrsSSulen1s are con-
CE44EA- 4GDGl G40E G41y OOD. - CAL4D1IE0
with 555 a yea ago. The liabilities,
however are more than three IiInes as
large &c II the Ike portion of last year.
which points 10 q relatively more normal
condition OF metropolitan cuisines affairs
than Is Shown by the receod Of The
Middle states as q whole, the Liabilities
Of the latter having been four times as
large tn { 2 as last.
BrzdStreet'S prints z table fuTlishinU
the number Of failures for nine months
having Liabilities each of Sl0Q. 600 or
nOre. together with aggregate debts.
CLASSIFIED by trades As was TO be eX-
peeled embarrassed banks and bank
Ing Institutions led with the eKtTaordi-
narily heavy total of 500 fout OF go ii
ali, owing Sl55,256 759 ont OF S27A.A.-
49a- In nine months OF 1892 only seven
teen banks owing 100000 or more
each suspended; IL the year be
fore only thir1T-dYe. and in q Ike
share Of 1890 only eleven, ali with rela-
lively small Liabilities. In point Of
number the next largest grou1 OF Sl9a.-
900 failures this yea is among lumber
dealers and manufacturers but If az
Eregat6 debts be taken as the measure,
failures Of S1Dl000 or more each aEnong
manufacturers Of iron and steel rank
second Failures were also numerous
and heavy am eng manufacturers of and
dealers in furniture, hardware and NET
ais. leather. hides, clothing ana wool
ems.