The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-01-05
FINANCE AND TRADE
The Decrease in Failures in the
United States in 1894.
THE DECREASE IN COMMODITIES.

Prices at the Lowest Lovel Ever Known
in the History of the Nation-very Small
Stocks of Goods in the Hands of Jobbers
and Manufacturers.
NEW YORK, Jan. 5.--R. G. Dun g. Co.'s
weekly review of trade says: Failures for
1874 are fully reported this week, being
l3oS5 in the United States and 1, ,S56 in the
dominion of Canada Liabilities in the
United States were S172, 1872, s56, and in
Canada SlI6l6,2l5. Neither the decrease
OF over half in this country, nor the in
crease of over 40 per cent in Canada is
surprising, 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 liabilities
of trading concerns. A few states, includ-
ing New York and Pennsylvania, show
| more failures than in 1898, and in a few
| southern states the amount Of liabilities is
larger but in central and western states
very much smaller
In eleven Of the last thirty-eight years
| reported liabilities have been larger than
in 1894, though for 1898 and 1894 the state
ment is confined to commercial failures,
as it was not in former years. The fail
ures have been u. 8 in every thousand firms
doing business; the liabilities have aver
| aged Sl3277 to each firm in trade, and in
| proportion to the volume Of solvent bust
ness represented by all clearing house ex-
changes s.. 63 for every $1,000.
The complete review of different branches
of business places in clear light the fact
that prices of commodities are at the low
est level ever known. Eight years ago, in
| TttIvr al
of the prices for the same articles and in
the same markets Jan. 1, 1860, and this
remained the lowest point ever touched
until Aug. TO- 1893, when the average fell
to 1916, but early in 1894 prices dropped
below all previous records, and have never
| recovered the average on Dec. 20 being
only 68.73 per cent. of the prices in 1860.
The range was very little higher at the
end of the year, and about as low Oct. %.
The fall since year ago has been 81 per
cent, but very unequal in different
branches. These changes contrast sharply
with the decline of wages paid per hours
work, which average only 1.2 per cent. less
than year ago.
| Bradstreets' weekly review of trade
says: There has been no material improve
ment in general trade within a week
Jobbers and other wholesalers are sending
Ht-1t or are about to send out, commercial
I traveler5rr in many instances have not
finished the ve7SfSS accounts and stock TAX
ing. A tabulation Of telGS1SSp phed reports
from the more important TRAYS, -esLsUers
does not reveal specially hopeful views>.ssS
to an improvement in business in the near
future. In many instances trade revival
is declared to depend on settlement OF
the currency question.
The most encouraging expressions OF
opinion are that merchants are hopeful
Among more favorable conditions are re
ports that stocks of goods of all descrip
tions in the hands of jobbers, manufact
urers and retailers, west and northwest
are generally smaller than usual at this
season, that the business of the year il
dry goods, hats, shoes, millinery and gro
ceries has been fairly satisfactory, and thai
cold weather has stimulated demand fol
coal and seasonable fabrics.