The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-01-02
THE BUSINESS OUTLOOK.
(From R. G. Dun & Co.'S weekly
ReYiew."l

There have been more commercial fall
ures in 1896 thai in any previous year ex-
cept 1898. about Il. 1890 against 1887 last
year, with liabilities of about s225, 900, O00,
against $173. 1856, $50 last year. an increase in
number of about IL per cent. and in liabili-
ties of % per cent. The holiday makes 1T
impossible to give exact figures until next
week, but the monthly returns never be-
fore prepared show that $36, O00,000 of the
excess over last year was IN two months,
August and September, in which manu-
featuring liabilities were SIS, SOC, 600 larger
than last year, trading SO, Loo, 900, and
brokers' and other commercial S10.3 00,0 600
larger. OF the latter class $l1,0 ,416 out
of about SIS. 600. 900 were in those two
$40, 1856 out of about s98. 260, 600 in the whole
year were in those two months, and of
the trading class $21, 8S1. $50 out of about
sos, SOC, 900 in the whole year. But for the
temporary political alarm in those months,
the entire excess of liabilities over last
year would probably have been not more
than 10 per cent. The ratio of defaulted
liabilities to clearing house exchanges was
$4.37 per $1,000, against 1925 last year, and
S6.39 in 1898. The average of defaulted LA
bilities per firm in business was $190.57
against $145 last year and S290.65 in 1888.
The exact statement by States and by
branches of business will be given next
week. For the first time detailed monthly
statements are also published for the last
Commercial liabilities amounting to S64,-
00e, 900.
The year closes with an epidemic OF
failures. mainly at the West and in
banks. loan and trust companies, or con-
Germs dependent on them. The action of
clearing houses in various places indf-
Gates no want of confidence, and several
banks which sa,, have ave f failed VIII pc e enaDled
ness in a few widely known institutions,
in the abnormal state of popular feel
ing after an excited contest on none
tary issues. has caused distrust and sus-
picion where it is frequently undeserved.
There has been no monetary pressure
to cause trouble. nor have important
western products declined in value. There
has evidently been too liberal assistance
given by some fduciary concerns to spec
ulative operations. No drain on East
ern funds has resulted since the flrsL
money then sent has all returned. Fail
ures often grow more frequent as annual
settlements approach
The year 1896 has been one of singular
and confusing fluctuations in prices:
Wheat rose to 81 cents February s. fell
to 60K June 49, and rose to 81 cents De
with stories of scanty supply, fell to 1852
March 5. rose to S.37 May Z. dropped to
7.05 July Is, when a heavy surplus was
pressing; rose to s.S7 September 10. with
fell to 7.06. but closed at TIP. Wool rose
to an average Of 14.H cents for all do
nestle grades February ]. fell to 12.l6
September /, rose to 1886 December /.
and has since declined Iron and its
products rose 8 per cent. to April 1,
and then declined every month to De-
rising slightly. Boots and shoes fell 10
per cent. in the spring against leather Is
and hides q per cent. Then shoes rose
gradually 20 per cent. to December, and
leather II per cent, but has since fallen
3 per cent. while hides rose rs per cent.
to June 8. dropped % per cent. to July
s, rose 50 per cent; to November Z and
goods were at the highest point January
I. fell II per cent. to August 6, rose about
7 per cent. to November 9. and have
congruity of these changes shows What
obstacles business has had to face
In none of the industries mentioned has
there been activity the past week. Holi-
failures and the efforts of great combina-
tons to make new arrangements. With
ircn. coke, wool. cotton. and hides, all
sal confdcnce that business will soon be-
come large and safer than before for a
long time. and several large establish
ments, among them the, Yonkers Carpet
Works, which employ 1000 hands when
full. and the Maryland Steel Co., will
now start operation Cotton mills have
stocks of unsold goods in some
lines, the surplus of print cloths being
the largest ever known and about q
quarter Of a years
1895 has varied remarkably. Payments
| through the clearing houses were slightly
larger in each OF the nrSt tour months
than in 1896. but 20 per cent. smaller than
! In 1892. In the six months, May and Octo-
her Inclusive, payments were every month
smaller than last year. is per cent. In
| September. and in that month and Octo-
Der about "a per cent. smaller than in
1882. In November a small Improvement
over 1895 appeared. and the decrease from
1892 was but II per cent, but IN December
| payments were 9.8 per cent. smaller thai
| last year. and 20S per cent. smaller. than
| iarger than last year in each of the first
sseven months, and smaller each month
Than in 1892. In August and the later
months there has been a decrease as
treat Is u per cent. in November from
| 1895. and 1862 per cent. in August from
1892. -
| From Bradstreet's Estate of Trade."1
General trade has been rather more
| auief. ami this week proves me Of the
icwed the fortnight Of revived deman
u r1v IN November. The uneasiness last
week caused by northwestern bank fall
| ,ires is continued by similar embarrass-
rnents at Chicago and Minneapolis. These
| Ia nlx failures seem to he the outcome of
| Conditions originating in the banks and
| hat due to the situation of general trade;
unreasonable weather, the making Of
3nvenforfes. and the customary absence
az demand IN wholesale kne5. have com.
| FINED to produce more than the usual
hniidav dJllness. More favorable reports
inei11de heavy exports and general mer-
e;,andise from Tacoraa to China and
/ 1anau thp receipt af#Ghscqro ~ a salts