Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1897-12-30

The business Outlook Excellent for
the Year 1SOS.

New York. Jan. 1.-Bradstreets' saws:
Holiday quiet and stock taking close
year which, while not fully realizing the
most sanguine expectations. certainly con-
tanned much that was gratifying and more
that Is fun of promise for the year 1898.
Following series OF years of alternate
panic. stagnation and slow and even pain
full revival, 1887 presented a large volume
or business done, as whole, at prices
which, while not altogether satisfactory,
resulted in a total OF trade larger than in
any previous year since 1879. Tariff changes
restricted demand but encouraged specu-
lation and heavy imports in the first part
or 1897. while the enlarged foreign demand
for American breadstuffs and for some
varieties OF manufactured articles bettered
the condition OF the American farmer and,
therefore, business men, quite materially.
In the latter part of1he year.
Price conditions have not favored the
southern producer of cotton nor the north
ern manufacturer OF cotton goods. The
best reports come from the west north
west and the Pacific coast. Prices at the
| close are as whole on higher range than
at the opening, advances being most nu-
merous In food products, raw silk and
WOOL while decreases are reported In raw
cotton and cotton goods, nearly all met
ais, anthracite coal and petroleum. Rail-
road interests share In the revival OF pros
perity, with gross and net earnings larger
| than any year since 1898, and the year 1898
opens with the business community. with
full frame of mind.
"A heavy falling off in number and in
liabilities of individuals. firms or corpora
| lions falling was shown in 1897 from 1896
| and the four preceding years A partial re-
| turn to more or less normal conditions ~
| further indicated by n drop in the per-
! centage OF assets to Liabilities and by
! reduction in the commercial death rate as
compared with every year since and in
Guiding 1893. The total number of failures
| reported to Bradstreets for the year just
| closed was 1909, decrease of 1000 failures
and over Is per cent. from 1876; falling
| of of is per cent. from the panic year OF
| 1898 and a decrease OF more than per cent.
| from 1891, year OF prosperous business but
| of numerous business embarrassments.
| Compared with 1895 there was gain In the
number of failures shown of about half Of
! l per cent, while compared with 1892 there
was an increase of q per cent. Liabilities
| OF those failing constituted one Of the
smallest totals OF recent years, amounting
! to only $l56. $4,000, decrease OF 81 per cent
! from 1886, of 20 per cent from 1893 and Of
| IL per cent. from 1891, but gain OF AZ per
| cent. over 1892.
Those reliable indices OF the business Sit
uation-bank cearlngs-point to the year
1897 as witnessing the heaviest business,
both speculative and commercial done
since the record year, 1892, just preceding
the panic. The total clearings at IS cities
for the year, one week estimated, aggre-
gated at least 500 1926, 900 900, a sum larger
by ~ per cent. than the total OF 1886, a year
OF silver agitation and an exciting presi-
Dental election per cent. larger than
1895, the disappointing year, when boom
in iron and kindred products led to false
hopes Of business Improvement; rs per cent.
over the year 1894, when the depth of de-
preston following the panic may be said
to have been reached; per cent over 1893,
the year OF widespread disaster In financial
and commercial circles, and only per cent.
smaller than the total OF 1892. when the
boom following the large foreign demand
for American breadstuffs and other prod
ucts reached Its height. Practically the en-
tire gain In clearings In 1897 was concen-
trated In the last six months, and II Is a
significant fact that the heaviest monthly
total reported for five years past was re-
ported In the month OF December. Gains
were heaviest In the northwest, the middle
and New England states, and smallest In
the south and northwest, at the latter OF
which the trade Improvement was rather
later In arriving"