Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-01-05

Some Jntcrestine Facts and risurcs
About Failures,

New York. Jan. ar. G. Dun G. Co.'S
weekly review Of trade. which Is issued
tomorrow, will say:
Failures for 1894 are fully reported
this week. being 1851 In the United
States and 1855 in the Dominion OF
Canada. Liabilities in the United States
We're sl72992.S56 and in Canada ST.,
6l6,2il. Neither the decrease OF over
half In this country nor the increase Of
over 40 per cent In Canada is surprls-
ing, but the statement shows that most
of the decrease in the United States Is
in manufacturing liabilities, while the
entire Increase in Canada Is in liabili-
ties of trading concerns. A few states.
including New York and Pennsylvania,
show more failures than in 1898, and In
few southern states the amounts OF
liabilities are larger, but in central and
western states very much smaller. In
eleven Of the last thlrty-eight years re-
ported. liabilities have been larger than
in 1894. though for this year and 1898
the statement IL confined to commercial
failurep, as II was not in former years.
The failures have been 1875 IN every
1000 firms doing business. The liabili-
ties averaged Sl32.77 to each Arm in
trade, and in proportion to the volume
OF solvent business represented by all
clearing house exchanges, 263 for every
1000.
Ilt EpHlDltAt ItNAtM Oh inherent
branches of business places in a clear
light the fact that prices OF commodi-
ties are at the lowest level ever known.
Eight years ago In July prices averaged
only 1884 per cent of the prices for the
same articles and in the same markets
January /, 1860. and this remained the
lowest point ever touched until August
TO- 1893 when the average fell to 72.56.
but early this year prices dropped be-
l.. oil hut
recovered, the average December 20 be-
ing only 6s. 73 per cent of the prices OF
1860. The range was very little higher
at the end of the year. and about as low
October 25. The fall since a year ago
has been 8 i-2 per cent, but very UNI
equal In different branches. In iron and
steel IA per cent; in wool 1874 per cent;
In woolens and cottons about 10 per
cent.
These changes contrast sharply with
the decline of wages paid per hour
work. which averages only l.2 per
cent less than a year ago. The condi-
ton of Industries has been largely
governed by the fall in prices and
while production is much larger than
a year ago, the aggregate increase be
ing fairly measured by the increase
OF s.24 per cent In point of hours of
work done in November, compared with
the previous year, 1t has been the
controlling feature in almost every Inn
portant industry that consumption has
not kept pace with and has not sus-
tained prices.
In iron and steel, the lower prices of
the year are at the close. and the low
est ever known, the demand calling for
less than half the usual quantity OF
rails. with large decrease In many 9th
er branches, though probably the use
OF structural forms was larger In 1894
than ever before. The wooden indus
tGy records a production fer the year
about a quarter less than normal and
for the last four months 2S.45 per cent
less than in 1892 in quantity of WOOL
consumed, but in value of product, the
decrease was OF course greater.
The year has been especially note
worthy for the lowest prices NJ wheat
ana cotton on RECORD. Both suffer
from wholly unprecedented acc,tmu-
latlon of stocks, the crop being Large.
outside this country. wheat produce
ton has not increased enough 10 justi-
fly a price OF 60 cents at New York. ard
the accumulation is largely due 10
false reports OF yield, intended to
Brighten buyers and raise prices. The
same influence has been felt in cotton,
which is also affected by world wide
depression In business and decrease In
consumption of goods. In other pro-
ducts marked the year has been rela-
lively less important.