The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-09
BOARD IS CLEARED
BUSINESS FAILURES OF THE LAST
YEAR NOT AN UNMIXED
EVIL
APPREHENSION AT AN END.
w SERIOUS REACTION UPON GEN.
ERAL TRADE NOW TO BE Ex-
PECTED.
'PREFFNSInN AT AN END.
INCREASE IN RAILWAY EARNINGS
Returns for the Last Week of NJ
cember More Favorable Than
the Earlier Reports.

NEW YORK, Jan. 8.-R G. Dun e,
Co. s weekly review of trade tomorrow
Will say: The year 1897 begins with one
clear advantage; the past year has
swept out Of the way a great number
or unsound concerns, which. in any
time OF activity, would have been dan
gerous to business. OF the 1926 COM
merc1al and banking failures in 1896
with liabilities of $276, 815, 749, a large
snare represented Gripping losses in
previous years, or the violence of spec
uIatlVe storms in 1895 or the first half
OF 1896, while thousands more resulted
from the fury of the political tornado
last faH. Banking failures amounting
to $50, 1885 during the year averaged
$l56,156 each, and were 145 per cent
larger than in 1895. Commercial fail
ures amounted to $226, 096, 1874, little
over 900 having been added by
the last day of the year, but the aver
age of liabilities, $14,992, was smaller
than in some years Of great prosperity.
Inc failures of brokerage and other
commercial concerns averaged s5S 419
each increasing 1873 per cent over 1895.
WhlIe manufacturing failures averaged
$28,0OS each, and increased "a per cent.
and averaged only $9,6O6 each. over
four-hfths Of the increase in manufac-
turing and trading failures was in lup-
Der manufacturing, ITO per cent; dry
goods, 80; wooden manufacturing. 161.
clothing trade, 20; shoe trade. 81: leath-
er and shoe manufacturers, 1877; gro
Gerry trade, SO; machinery, 70: milling.
LII; furniture, &c. and printing, 81 per
cent. In fen
crease was moderate in amount. and in
five, with the unclassified manufactur-
Ing and trading failures, the liabilities
were smaller than in 1895.
While banking failures have not
ceased at the West, apprehension
about them has almost wholly subsid-
cd and no serious influence upon gen.
eraI trade is now expected Many
SOUND concerns were doubtless caught
Dy the epidemic but, practically, all
the important failures are traced to
disregard OF law and of banking sense,
IL is felt at the West that all business
will be the sounder after its purging,
ana the return of money to New York
has exceeded shipments to the interior
by 100000 for the week
Wheat rose to 92c on Monday, but
has declined again to S9Ac, with
Western receipts a million bushels
SAAAo'AAOA C44cA11 last ySdI, While AIldnLlC
exports, flour included, were 2,037, 900
bu, against 1887, 1886 bu last year. The
trade accounts indicate a great quanti-
ty in farmers hands; enough to permit
more than 100000, 900 blu to be exported
In the remaining six months
The aggregate of gross earnings Of
all railroads in the United States re-
porting for December or a part of the
month, is $50, 437, 0S5 a decrease of "a
per cent, compared with last year, and
of 8.9 per cent compared with the cor
responding time in 1892 The later re-
ports make a more favorable showing
than any of the earlier returns for the
month For the fourth week, roads re-
porting show a considerable increase
in gross earnings. The increase is not
confined to any one section, but nearly
all the large systems report a large
gain in the fourth week. Compared
with 1892, roads reporting for the
month show reduced earnings, tbs
greatest loss being on grangers and
other Western roads. AS a whole. tha
returns so far made for December COM
pares much more favorably with pre-
ceding years than the first complete
report for November.