New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-11
EVIDEyCES OF IMPROVEMENT.

While every one realizes that noteworthy
change In the state of business mas come slnoe
last October, many fail to appreciate i's eA'on.
or Importance because It has not Deeh as rap"
os they expectcd Further evidence or It's chhr-
cter>howeyer. IS supplied by the Controhers
report of the condition Of National banks OH
March o in COMPARISON with similar reports IN
December or October. The natural changes III
cident 10 the season must he taken into account
in order 70 interpret these returns Alright. Thrs,
in three of the last four years loans ana dis
counts have been smaller about March l than IN
December by S9OOOOOOO in 1896, by S26'OOo,-
600 In 1895. by S7,OOOOO0 In 1893, and only as
large in 1894. But this year there Is small IN
crease from ST. $4,000 900 to 81, SS6,OOO,OOO. so
the individual deposits have heretofore decreased
in the same season 1000, 900 In 1896, S2s,OoO,-
600 in 1895 and S13.OOO,OOO in 1893 increasing
only in 1894 after the panic, while this year the
increase has been from S1,640,0o0,OOO to Sl,009,-
100000 At a season wli~p the volume of busi-
ness Is ordinarily smaller than in December or
October, the returns this year show some In
crease which, if not large in amount Is highly
significant when contrasted with the decline
ordinarily resulting from liquidation OF indept-
edness and shrinkage of commercial operations
during the winter months.
Another feature Of the returns Is that the
banks now hold more specie by S33,OOo'oOO than
they held In October last, and Si4,OOO,OOO more
legatender notes, fact which indicates plainly
the more healthy condition of banking institu-
TONS and their greater ability TO meet the de-
mand of the more active season that Is coming
Business is safer because OF unusually extensive
liquidation during the winter months and with
out the evidence of banking returns it Is well
known that payments Of outstanding accounts
were during that season much larger In amount
than in most other years. But while buying
with caution and sharply diminishing unsettled
obligations, the business community neverthe-
less somewhat expanded its operations. Indeed
the preparation for future activity was In some
cases more rapid and more extensive than the
Improvement in consuming demand has yet
justified.
Another indication of the same tenor Is fur
nished by the quarterly report Of failures. which
shows material Improvement in comparison with
the corresponding quarter last year. If banking
failures are included with commercial it is true.
the apparent decrease is small. on account Of
the unusual banking disasters in Minnesota, Ne
braska Illinois, Georgia and Kentucky. result
ing from causes apart from the present condition
Of business. But the returns Of "Dun's Re-
view." published yesterday classify the failures
for the quarter by branches of business. and thus
make it manifest that in manufacturing branches
there was n decrease Of about S1.100.0O0 COM
pared with last year, only two OF the thirteen
manufacturing classes showing larger liabilities
than in the same quarter Of 1896. There also
appears decrease Of S7.400.000 in trading fail
ures only four Of the thirteen trading classes
showing larger liabilities than in the same quar-
ter last year. Moreover, It Is shown that In al
most every one Of the few classes in which in
crease appears that increase Is due TO one or
two exceptionally large failures. Such general
Improvement, extending to nearly all the more
important branches Of industry and business,
bears witness to the unusual success Of business
concerns in meeting their obligations and to the
prudence and soundness with which business Is
now generally conducted.