Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-01-09
Dun a. Co.'s Review.

New York, Jan. Pr. G Dun q Co.'S
weekly review Of trace says:
There have been more commercial
failures in 1896 than in any previous
year since ~1S93-about IA, $3.50, against
13, 1877 last year, with liabilities Of about
s225, 900, 600. against $173, 1856 900 las year,
an increase in number of about II per
cent and in liabilities Of 29 per cent. The
holiday makes ii impossible to get ex-
act figures until next week, but the
monthly returns heretofore prepared
show that $50. 900, 600 OF the excess over
last year was in W. months, August
and September, in which manufactur-
ing liabilities were SIS. SOC, 900 larger
than last year, trading $40, 900, 900, and
brokers' and other commercial $40, 300
900 larger. OF the latter class 81, 041, 416
out of about SIS, 900, 900 was in those two
months; of the manufacturing class
S24, 910,3 1856 out Of about sos, 260, 900 in the
whole year was in those two months,
n OF the trading class S21, S31 $50 out OF
about sos, 500, 900 in the whole year.. The
ratio Of defaulted liabilities to clearing
house exchanges was $4.37 per $1,000,
against 1925 last year and $685. In 1893.
iN tNtiobN vi ptI
firm in business was $1y0.57, against $145
last year and $500 So in 1893. The exact
statement by states and by branches OF
business Will be given next week. For
the first time detailed monthly state
ments are also published for the last
quarter Of the panic year 1893, showing
commercial liabilities amounting TO
$64, 900, 900.
The year closes with an epidemic of fail
ures, mainly at the west and in banks,
loan and trust companies or concerns de-
pendent on them. The action of clearing
houses in various places indicates no want
OF confidence, and several banks which
rave failed will be able to pay in full, but
disclosure of u~nsoundness I'm a few widely
known institutions in the abnormal state
Of popula feeling, after an exciting con-
test on the monetary issue, has caused
distrust and suspicion where it is fire.
quently undeserved. There Is no none
tary pressure TO cause trouble, nor have
important western products declined in
value. There has evidently been too lib
eral assistance given by some concerns to
speculative operations. No drain On east
ern firms has resulted since the first alarm
at two large failures, and the money then
sent has all returned. Failures often grow
more frequent as annual settlements APP
proach.
Holiday dullness has been intensified by
tho failures and the efforts of great COM
binations to make new arrangements.
With iron. coke, wool. cotton and hides
all somewhat over, there is almost uni
NeTSdl commence tnat business Will soon
become larger and safer han for a long
time. and several large establishments.
among them the Yonkers Carpet works,
which employ 1000 hands when full. and
the Maryland Steel company. will start
operations. Cotton mills have enormous
stocks of unsold goods in some lines, the
surplus of print cloths being the largest
ever known and about a quarter of a
years consumption. Wool sales decreased
"a per cent in the first four months, and
were smaller h for five years; de-
creased 56 per cent In the second four
months, when new wool was coming for
ward, and We're much the smallest ever
known except in the panic of 1873: but
enormous sales, mainly speculative, made
the aggregate during the last four months
nearly equal to that of last year.
Wheat has risen to the highest point
since June, 1892. because western receipts
In five weeks have been but Is. $50, 900 BUSH
els. against %, $685. 1867 bushels last year.
t.antlc exports, flour included, rave been
In five weeks 5000. coo bushels, against TO-
tl3.249 bushels J ct year. The exports from
New York in 'ember were s per cent
larger and imports IL per cent smaller
h last year.