The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-04
BIG LIST OF FAILURES
FIRST QUARTER THEY ARE 4.5I2
WITH sex,5fs,oo0 LIABILITIES.
discrepancies in the Reports from
Bradstreet and Dun & Co.-Trade
Conditions Continue Poor.

NEW YORK, April 3-Bradstreet's report
tomorrow will say: Stormy weather at the
Northwest. continued restriction CT distribu-
fion of staple merchandise and unsatisfac-
tory mercantile collections continued To be
the leading characteristics OF general trade.
The conspicuous change is In the steel and
iron markets. The formation of a pool Of
manufacturers of steel TO regulate produc-
fion and maintain prices results in an adj
vance OF SO per ton in quotations for steel
billets and si-25 per ton for Bessemer pig
1ron- A corresponding stimulus is given quo
tations for other forms of iron and steel.
Whereas leading metal markets were duh
and depressed a week ago. activity is now
reported with prospect for further adj
vances- This must naturally tend to stimu-
tate kindred Industries. Additional favorable
features are reports that at Baltimore the
quarters general trade has been the best for
years: that there has been slight increase
in the volume Of business at Pittsburg: that
at Kansas City distribution of general mer-
chandise is fair (but commission houses adj
NIT being overrun with country eonsign-
ments. which are slow Of sale). and that de-
mand for dress woolens. at autumn deliv-
cry, has been sufficient 70 stimulate manu-
facturers 10 buy material more freely
from both coasts of the United States this
week, aggregate 1,69s.000 bushels. against
in The week vssS So eoo b1s beSne ,n
the week two years ago. and as compared
with 1856. 600 bushels in the like week in 1893.
amount to 2.ls9Ooo bushels this week. three
times wat they We're In the week a year
The first quarter of 1896 presents the larg-
est list of actual commercial and Industrial
failures In business In the United States,
those In which liabilities exceed assets, ever
reported for like period. The total Qncud-
Ing financial institutions), Is Asp. or 200 more
than In like period o. 1895. 543 more than
In 1884 and LAB more than in the first quar-
ter OF 1893. increases OF IS. IL and AZ per
cent, respectively. The largest preceding
like total was 1850, reported in 1885. Liabili-
ties or those falling this year amount to
>62,513.00o, an increase of 80 per cent, as
compared with year ago: q per cent. as
So pea Win tne 5s5 9uarf 4S Of 1884 and
ago. Business failures in Canada number
lsl for the past Snarter against 5sl in the
&.57s.o0o. against A,2ss,oOO last year.
Dun q Co... weekly Review.
NEW YORK, April s.-R. @. Dun & Co.'s
Weekly Review of Trade. which issues to-
morrow. will say: The regular quarterly
statement Of failures shows 4,Os1, with liza
bilities OF So, .135. against $500 for the
same period last year. with liabilities of
1894. with liabilities of ss4,127 ,sss. The aver
age liabilities of 1894 were s4.3is. against
$12577 last year. and $4,000 in 1894 Manu-
featuring failures were s3S against col last
year. with liabilities of SO 5O7. S26, against
so. q. sH last year, an increase OF 1862 per
cent, but the decrease in comparison with
1894 is 1874 per cent. against SIS s79. s94 last
year. an increase OF 700 per cent, but in
comparison with 1894 the decrease is So
per cent. The ratio OF defaulted liabilities
to payments through clearing houses
was A-5 per $1,000. the aver
age for the previous ten years hav-
ing been only 1917. and the average per
firm In business was $f7.4S, against 1864
for the previous ten years. The main in
crease over last year has been in manufac-
turing failures in New York, Pennsylvania
Ohio and Kentucky and in trading failures
in Texas and Minnesota, owing to two re-
cent large defaults. Other commercial fall
tically all the Increase being at the South.
Banking failures have been fifty-one,
against thirty-sIx last year. but with liabil
year. More than half the entire banking
defaults were in Northern States, west OF
the Mississippi ..-.
weather begins. though In some branches Of
business 1t Is scarcely visible. AS consum-
Stocks and compel bays Stocks
en- In advance OF last summers demands
have been distributed far more slowly than
was expected, but months Of waiting have
helped to lessen the load which IL Is hoped
spring buying viii clear away The back
the Of ands
in important industries and the low prices
Of farm products Apprehension of foreign
fe oS Hports o are
mored, but at this season are far nat
ural that they have no such power TO cause
steel combination is expected to have a
grsat influence in sustaining markets and
stimulating confidence and though such op-
they rarely fail to kindle speculative buying
for time. The sudden advance of s. per
ton IN nib ests :. peek has raised s ges
for structural forms increases in expecta-
ton that prices will rise. Nail associations
cents at the end OF this month. Bars have
been greatly demoralized. but some makers
now hope TO re-establish the combination,
foundry Is slightly lower at Philadelphia
and the general demand for finished prod
Germs propoee 70 RESTRICT the prod isee by
allotment. those producing more than their
share paying g per ton to those who
solicited at 1oikc and lead is weaker at ioc.
but a single buyer lifted tin to 1850. The
wooden manufacture does not gain in orders
stopped. Prices of wool have fallen * per
cent. the average of 10f quotations being
1900 Sales In March were smaller than I'm
any other month since 1884, and for the
quarter were only To- $50 pounds, of which
30.9l6,2 200 was foreign. against 69,0S1,3 i5 last
year. OF which Is. 25S. $50 was foreign. Cotton
mills still pile up goods In advance OF
orders. reductions in prices have failed
TO stimulate buying. Speculation in prod
ucts has been tame. Cotton continues fc
come forward so largely that former pre-
dictions OF $4,000 bales are remembered
with derision and the outlook for the next
crop continues good. Wheat has slightly
advanced and II late reports OF injury from
extensive frosts and storms prove correct
Will advance more, though Western receipts
continue nearly so per cent. larger than lasl
year and for five weeks past have been 49,
S5. 40 bushels. against SS31.372 last year
while Atlantic exports have been only s.
733. 12 bushels. -four Included against s.
435.7o1 bushels last year. Corn exports are
larger and receipts also heavy, but pork de-
clined 70 cents per barrel.
bank CIenrfngs.
NEW YORK. April 3-The following table,
complied by Bradstreet's. shows the total
ciearances at the principal cities and the
percentage Of increase or decrease, as COM
pared with the corresponding week last year:
New York. $50 eq3 .O37 Decrease