The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-01-01
NEXT BAD AS '93
More Failures In 80 Than Any
Year Except '93.
..-sz5EzszS
The Total Number For the Year
Has Been 1 4 $50.
LIABILITIES LARGE.
Their Increase Larger Than
the Number of Failures.
No Cause For Alarm Where
Methods Have Been Good.

New York, Jan. 1.--R. G. Dun & co. s
weekly review says:
failures in 1896 than in any previous
year except 1898, about 1880, against
3,197 last year, with liabilities OF ABOUT
$225, coo, GOO, against $113, 196,O6O last year.
an increase in number of about Il per
cent and in liabilities of 20 per cent
The holiday makes it Impossible TO
give exact figures until next week, out
the monthly returns heretofore prepdr-
ed show that $36, 900, 900 of the excess
over last year was in two months,Au
ust and September, in which manutac-
turing liabilities were $l5 SOC 0Oo Lar larger
than last year, trading $10,- 600 ana
brokers and other commercial lO, oOO,OOO
larger
OF the latter class 11041, 416 out of
about SIS SOC, 900 were in those two
months; of the manufacturing class
$24 GIG, 1856, out of about $9S, 600 in the
whole year were in those two months;
and of the trading class S1S,Ss0,0Oo out
of about $1OS 500, coo in the whole year.
The ratio of defaulted liabilities to
clearing house exchanges was $4.37 per
1000, against 1928 last year, and $3.50
in 1893. The average of default6d la
bilities per firm in business was $190.57
against $145 last year and $Z9O.S5 in
1888. For the first time detailed month
~ statements are also published for the
last month of the panic year 1893 showing
commercial liabilities amounting to
$64, 900 900.
The year closes with an epidemic of
failures, mainly at the west and in
banks, loan and trust companies or
concerns dependent on them The ac
ton of clearing houses in various pla-
ceS indicates no want of confidence
and several banks which have failed
will be enabled to pay in full, but dis
closures of unsoundness in a few wide
ly known institutions, in the abnormal
state of popular feeling after an excit-
ing contest on the monetary issue, has
caused distrust and suspicion where it
is frequently uhdeserVed- 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 of the fiduciary concerns
to speculative operations. No drain on
eastern funds has resulted since the
first alarm at two large factories and
the money then sent has all returned.
Failures often grow more frequent as
| annual settlements approach. Holiday
dullness has been intensified by the
bineS to make new arrangements. With
iron, coke, wool, cotton and hides all
| somewhat lower, there is almost uni
VerSal confidence that business will
soon become large and safer than be-
fore for long time, and several estab-
lishmentS, among them the YOnkers
carpet works, which employ 900 hands
when full, and the Maryland Steel COM
pany will now start operation. Cotton
mills have enormous stocks of unsold
| goods in some lines, the surplus of
print cloths being the largest ever
known, about quarter of a years
! consumption. Wool sales decreased "a
per cent in the first four months and
! were smaller than for five years, de-
| creased Sc per cent in the second four
| months, when new wool was coming
! forward, and were much the smallest
| ever known, except in the panic of
| 1873; but enormous sales, mainly spec
| ulative, made the aggregate during the
| last four months nearly equal to that
| of last year.
Wheat has arisen to the highest noint
! since June, 1892, because western re-
ceipts in five weeks have been but -
100000 bushels, against %, 6O6, 1867 last
year.
Atlantic exports, flour included. have
| been, in five weeks, $500, 600 bushels.
against 1858, 249 last year. The ex-
ports from New York in December
! were five per cent larger and imports
Il per cent smaller than last year.