The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-01-14
A REVIEW OF TRADE.

The total number of failures in all lines
of business for 1895 was, according TO
Daa's Revie,s, 1877, against 1885 in
1894. Notwithstanding the decrease in
number, however, the aggregate OF liabiIi
ties was slightly increased, and stood at
s173, 1876 060, while those Of the preceding
year were S172, 992, $50. The average per
failure, therefore, was s13,12 last year as
against sl2,4 in 1894
classification OF the failures shows
that the increase of liabilities occurred
wholly in the manufacturing industry in
the seven States Of New York, New Jer-
sey, Connecticut, Rhode Island, Ohio,
Michigan and Illinois. In these States
the total liabilities in manufacturing fail
ures were SO, 63T, s62 in 1894, while they
amounted 10 S43, 21s AS last year. In the
remaining States the failures in that indus
try for 1895 were $25, 701 ,625, against $751;
1888 in the previous year.
The total failures in the manufacturing
industry for all the States showed habili-
ties of ST3, go oT3 in 1895, agains: So. 363,-
775 in 1884. In the trading industry the
Liabilities of failures decreased from S94,
652, 131 in 1894 to S92, zoe, 422 in 1895. In
other commercial failures the decrease was
from $40, 976. $50 to Sc, $50, 565. In banking
failures the liabilities were So, 500, OBS year
before last and $50, TIC, 30 last year.
If this showing is not so good as was ex-
peeted of the year when it began and the
revival from the depression OF the Demo-
cratic panic first made itself felt, it is at
any rate an evidence of improved condi-
tions in every industry except that OF
manufacturing. The Wilson tariff con-
tinues TO leave our ports open to the goods
OF foreign nations, and our manufacturers,
in their efforts to keep their mills running
and afford employment to workingmen.
entered upon a competition they could not
sustain and of course were forced to the
wall, with the consequence that while all
other business showed improvement, that
one met with disaster and resulted in such
an excess Of failures over last year that the
decrease elsewhere was wiped cut and the
total showing Tor all was one OF increased
liabilities.
Attention is called By the ReUieu 70 the
remarkable huctuation in the prices of
materials and manufactured products dur
ing the year ending January OF this year.
1t says:
NoI4p 1EcA Win SAHuHIs l. 1880. prices OF
manufactured products and OF materials rose
for pig iron ISL per cent at the highest point,
but only 81 at the close, while manufactures
Of iron rose 53.7 at the highest point and % )
at the close. anthracite coal rising 1873 but
closing So per cent lower thsn January /.
1895. Cotton rose 64.7 per cent al the highest
point and All al the close, but cotton goods
only 1913 al the highest and 14.5 at the close.
Hides rose 73-5 at the highest, and Is al the
close, leather As at the highest and 2I4 a;
the close, and boots and shoes 27s at the
highest and 12.6 at the close. Wool rose ~ al
the highest point and 60 at the close but
WOODEN goods rose only s Of L per cent at the
highest point, closing shade weaker. Silk
rose las at the highest point and IO7 al the
eloss.
The new year opens with something of
| uncertainty in business circles, but on the
whole the prospects for improvement are
good. The tariff which has crippled our
manufacturers can never be worse than
now and may be amended at this session
of Congress. There has been also a de-
crease Of imports recently that will aid in
the improvement, and this, taken in con.
nection with increasing exports, warrants
the hope that trade balances NAV be more
favorable hereafter SO that the general re-
rults OF the year may prove much better
| than that OF the last.