The Indianapolis journal., 1893-11-18
POOR ENCOURAGEMENT
Dun's Report Shows Continued
Heavy Run of Failures.
While There Is Some Evidence of I'm
prOvement in Business the Situa-
tiOn Is Certainly Desperate.

NEW YORK, Nov. H.-R. G. Dun & Co.,
in the weekly review of trade. say: Busi-
ness is gaining, but it is a constant COM
plant that the Improvement is slow. This
is because very few realize how heavy
load business has TO drag after 1t in climb
ing up again. Legislative uncertainties
weigh heavily, but the past depression with
trade and manufacturing failures, involy-
ing more than $235, 600 900 liabilities, in nine
months, besides banking failures of enor-
nous liabilities and failures of railway and
other corporations having heavy indebted
ness to individuals and firms, involve con-
tinual embarrasSmentS which men are prone
to forget There has been great encourage
ment during the past week in the fact that
November payments are far more salts
factory than was expected, and yet the
tensions of the month would have seemed
alarming in other years. Merchants who
collect part of the amount due rejoiced,
but their buying power is not as large as
usual. The extraordinary shrinkage in pur-
chases for consumption, if lessening, has
still made it impossible for many firms to
so on as before, and the largest failure OF
the past week, that Of the Thurber Why
land Company, illustrates embarrassments
which cannot be terminated in a week or
month. Monetary difficulties no longer him
der 1t is true the treasury cash has fallen
to Se7, 599, of which only $50, 49O,S91 was
gold, but there is no such alarm as there
was when the gold reserve alone went be-
low $780, ,000. coo. Business is not leaning on
the treasury, and 1t is well that ii is not.
Receipts for the month thus far are about
S5,000,O0O less than expenses, and the i'm
ports in October decreased about $50, 000, 600,
partly because of inflated valuation of goods
imported last year. Weekly imports at New
York decrease, in part, from the same
cause.
they wisely wait the revival OF purchases
by consumers. Twenty-four works of all
kinds have wholly or in part resumed,
against fourteen closing. Yet less than
half the iron-worlxing power is active, and
out of ninety-nne wooden works at the
forty-hve were shut up Nov l, the produc-
ton for four months in mems woolens be-
ing 1913. f3l yards, against 20,50i,3O6 last
year. Shte factory inspectors report that
out of $4,000 persons employed in textile
mills in Philadelphia only 1850 are at york.
In boots and shoes there is also decided i'm
provenent in spite of the fact that orders
are smaller than usual and most factories
are receiving orders though not enough for
full employment. Shipments from Boston
for the week were only Der cent. less
than q year ago. The decrease in the vol
ume of business through the clearing house
continues about the same, for the past week
being 1876 per cent
The failures of the week have been 324 in
the United States, against 205 last year. and
36 in Canada, against 80 last year. Besides
bank in Ohio and the Thurber fl ailure,
there were four of liabilities over 100000
and sixty-eight others over 81 600 The vol
ume of Indebtedness of firms failing in the
previous week was $S. 727, ACT, against s., ,467-
3l6 the week before, being larger East than
South