Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-04-10
NEW BUSINESS ENTERPRISES
The Failures Throughout the South Show a
Remarkable Stability as Compared
With the West and North.

Baltimore, Nd, April 9.-The Manufac-
turers' Record has analyzed the statistics
of Bradstreet's Commercial agency for
the past three months, showing the num-
ber of failures throughout the country as
compared with the corresponding period
of last year. This shows that the rec
ord OF the south for the past three
months exhibits a phenomenal stability
as compared with the failures in the west
and northwest. Failures in the south for
the first three months of 1896 show total
increase in liabilities of only $500,0O0 over
the corresponding period of 1895, and this
entire increase was in Texas, where a
$2 900, 900 wholesale grocery failure oc-
Cured But for this the liabilities In the
south would exhibit a large decrease as
compared with last year, notwithstand-
ing the fact that there was an increase
in liabilities throughout the country or
5,000,0 600. In contrast with the south the
central western states show an Increase
In liabilities of $11,e00,000; the middle
states So, $780, 900. The one state of Mime
sofa, with an increase of liabilities Of
So 300 600, showed an Increase five times
as great as the total increase OF liablli-
ties in the entire south. In fact the in
crease in liabilities in Montana alone was
$54S, 900, which was greater than the IN
crease in the thirteen southern states.
Comparing the bank clearngs for the
first three months of the year, the Manu-
facturers' 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 clear
ings of 146 per cent compared with the
same time last year, against an increase
of only 2S per cent in the western states,
4 per cent In the northwestern states, 22
per cent in New England and an aver
age gain of S.4 per cent for the entire
country.
These figures show that the south con-
tinues to make good progress In general
business expansion, Notwithstanding the
complaints from all parts of the country
of dullness in trade The south has for
several years past, despite the general
depression, made better progress than
any other part of the country
Among the industrial enterprises re-
ported for the week are the organization
of n company at Norfolk with pro-
posed capital stock of $500,000 for the
purpose of building steel floating dry
dock and marins railway repair snops,
a $500 900 cotton mill incorporated at
Spartanburg, S. c.; cotton mills project
ed at AIlendale, s. c., Gainesville, Tex,
Palmetto, Ca, Austell, Ga, and knit
ting mill at Sumter, S. c.: 10000 acre
tract of timber land has been purchased
in Alabama, and large lumber mill VIII
be built In connection with 1t; $25,O00
cotton oil mill company has been organ
lied in Arkansas; $4,000 electric and
power plant in Florida, a 100000 fertilizer
company at VaJdosta. Ga. $4,000 cleo
trio lighting plant at Houston, Tex; a
900 tanning and leather company at
Laredo. a $50 10000 Ice and cold storage
plant at Ell Paso, cement works to turn
out 300 barrels daily at Glasgow, Va;
the endorsement of operations by coal
company In Texas to produce 5000 tons Of
coal day by early fall. the reorganiza-
ton and the starting up of long idle
furniture manufacturing company with
$40 900 OF capital at Basic City, Va