Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1893-10-07
Per cent
assets to
Number Actual
INCREASE IN FAILURES.


past nine months aggregate 11,174, or 5
per cent more than in like portion o
1892, when the total was only 1873, ant
26 per cent more than in the correspond
| ing period in 1891, the heaviest previous
nine months total of mercantile embar
easements, $780,
The II, ia failures for this year carry
liabilities amounting to 1924, 087, 1903. In
1884, also year of panic, the liabilities
for nine months of s 1909 failures carried
liabilities aggregating only $195, 900
The value of liabilities for the last nint
months was 800 per cent greater than ir
the corresponding nine months of 1892.
The four States, New York, Pennsyl
yania, New Jersey and Delaware, fur
nish Is per cent more failures this veal
than last, but liabili ties have quadrupled
The eight Western States, Ohio Indiana
Illinois, Missouri, Michigan, Kansas
Kentucky and Colorado, report, relative
ly the heaviest increase in number Of
failures, 100 per cent, or from 1853 &c
1897, while the aggregate liabilities from
that region are five times what they
were in nine months of 1892, or $91, 927,-
539, as compared with $1S,07S, 900. In the
Northwest, in Wisconsin, Minnesota
Iowa, Nebraska North Dakota, Montana
and Wyoming, the rate of failures and
the increase of liabilities have lead also
the number in those seven States, being
almost 100 per cent larger than in nine
months of this year compared with last
or an increase from Cos to ,351, and the
volume of liabilities eight times as large
or S64, 227, $40 as compared with $7,751,
600.
The number of suspended banks in the
first eight months of 1898 was $40. OF
these, 81 resumed Liabilities of the 549
which suspended were $165, 731,61S.
In nine months OF 1892 only II banks,
owing 100000, or more each, suspend
ed; in the year before only 30, and ia a
like share of 1890 on II, all with relative
ly small liabilities.
LITTLE HOPE FOR THE FUTURE.
The mercantile failures reported for
1893 have reached go, with $274,745,-
496 in liabilities. For 1892 the cores
ponding figures are: Failures, 121; liza
bilities, $40, 161 Ala; for 1891, failures,
800; liabilities, $73,311 ,013; for 1890, fail
ures, Ill; liabilities, $37, 409,2
Bradstreet's reports no general i'm
provement in trade. Reports of start
ing up of cotton and wooden mills in New
England are qualified with explanations
that in almost all instances it is on short
time, with reduced forces, and on orders.
There is doubt as to the future Of the
cotton crop. The iron and steel indus
tries show no signs of revival. Indus
tries at number of points in the West
where they recently started up after pio-
longed idleness have again closed.
General trade throughout New Eng
land remains quiet, the only gains being
better demand at Boston for general
dry goods, and tendency of the part of
some cotton and wooden mills to start up
on part time on orders. Cooler weather
has stimulated purchases of heavy wool
ems, but prices remain heavy.
The clearings' total for the country is
$772 600 0G this week, decrease of 3.5
per cent compared with the week before
and heavy falling off in the volume OF
general trade as measured by bank clear
ing totals when compared with the cor
responding week one and two years ago,
such decreases being respectively 81 and
IS per cent. The New York stock mar
ket, though irregular and narrow in
point of activity, is somewhat stronger in
tone.