The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-10
SOLID BASIS OF THE SOUTH.
A REMARKABLE GOOD RECORD IN
THE MATER OF FAILURES.

The Increase in Liabilities in the
First Quarter of 1896 in Dixie Far
Smaller Than in Any Other Section
of the COuntFy-Except for a Big
Failure in Texas the Liabilities
would show "A Decrease Compared
with the First Quarter of 1895.
Baltimore, Nd. April 9-The Manufac-
turer's Record has analysed the statistics
Of Bradstreet's Commercial Agency for
the past three months. showing the num-
Der Of failures throughout the country as
compared with the corresponding period of
last year. This shows that the record of
the south for the past three months exhib-
its a phenomenal business stabilityas COM
pared with the failures in the west and
northwest" The failures in the south for
the first three months Of 1896 shows a total
increase in liabilities of only $4,000 over
the corresponding period of 1895, and this
entire increase was in Texas. where a 81
10000 wholesale grocery failure occurred.
But for this the liabilities in the south
would exhibit a large decrease as compar-
ed with last year, notwithstanding the fact
that there was an increase in liabilities
throughout the country of Sl5,600,0O0 In
contrast with the south the central ives
tern states show an increase in liabilities
of Sl1,6O0OOO; the middle states, $500, 600.
The one state of Minnesota, with an in
crease in liabilities of 81, SOC, 600, showed an
Increase nearly five times as great as the
total increase of liabilities in the entire
south. In fact the increase in liabilities in
Montana alone was $54S,0O0 which was
greater than the increase in the thirteen
southern states.
Comparing the bank clearings for the
first three months of the year, the Man
ufacturers' Record and the commercial
agency reports: by far the best showing
and the largest number of increases in
bank Clearings are reported from the
SOUTH The returns for the three months
show a gain IN the southern states in
clearings of 14.6 per cent, compared with
the same time last year, against an in
crease of 2S per cent. in the western
states, 4 per cent. in the northwestern
states, % per cent. in New England, and
an average gain of S.4 per cent. for the
entire country. These figures show that
the south continues to make good prog
ress in general business expansion, not
withstanding the complaints from all pants
of the country of dullness in trade.
The south has for several years past,
despite the general depression, made bet
ter progress than any other part of the
country. Among the industrial enterpri-
SEES reported for the week are the organi-
cation of a company at Norfolk with
proposed capital stock of $4,000, for the
purpose of building a steel floating dry
dock and marine railway repair shops;
a 100000 cotton mill is corporated at
Spartanburg, 5. c.; cotton mills projected
at Alendale, s. c., and Gainesville, Tex;
10000 acre tract of timber land has been
purchased in Alabama, and q. large lumber
mill will be built in connection with it;
a $4,000 cotton oil mill company has been
organized in Arkansas; a $4,000 electric
and power plant in Florida; a 100000 fer
til!zer company at Valdosta, Ga; a $4,000
electric lighting plant at Houston, Tex;
S3OUOO tanning and leather company at
Laredo; a $4,000 ice and cold storage
plant at Eel Paso; cement work to turn
out 800 barrels daily at Glasgow, Va; the
enlargement of operations by a coal com
pany in Texas to produce 1900 tons of coal
a day by early fall; the reorganization and
the starting up of a long idle furniture
manufacturing company, with $4,000 of
capital, at Basic City, Va.