Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1897-01-14

R. G. Dun and companys weekly
report says the year of 1897 begins
with a clear advantage. The past
year swept out Of the way a great
number of unsound concerns, which in
any time of activity would have been
dangerous to business. OF 1926 COM
mercial and banking failures in 1896,
wi ; liabilities of s276, 815,7 49, a large
share represented crippling losses in
previous years or the violence OF spec
ulative storms in 1895 and the first
half of 1896, while thousands more
resulted from the fury of the political
tornado last fall. Banking failures
amou.. ing to $50, 71S,915 during the
year, averaged $l56, 1876 each and were
35 per cent. larger than in 1895. Com
mercial failures amounted to 1925, 096,
834, a little over $1,000, 900 having been
added by the last day of the year, but
the average liabilities of $14,992 were
smaller than in some years of great
prosperity. Failures of brokerage
and other commercial concerns aver
aged $5S,418, each increasing 1873 per
cent. over 1895, while manufacturing
failures averaged $2S,S08 each, all in
crease of 81 per cent. Trading fail
ures increased Is per cent. and aver
aged only s9,606 each. While the
banking failures have not ceased in
the west, the apprehension about them
has almost wholly subsidized and no
serious influence upon general trade is
now expected. Many sound concerns
were doubtless caught by the epidemic,
but practically all important failures
cal be traced to a disregard of bank
ing laws. IC is felt in the west that
all, business will be sounder after it's
purging. Return money to New York
exceeded shipments to the interior by
81, 900 900 for the week.
Wheat rose to 92 cents Monday, but
declined again to 1925 cents with
western receipts 100000 bushels
smaller than last year, while Atlantic
exports flour included) were 2,038,000
bushels, against 2,33S,O0O last year.
Trade accounts indicate a great guam
tity in farmers hands, enough to per-
nit Of more than a 1000 900 bushels
being exported IN the remaining six
months. The market for cotton
goods is extremely slow as n any iI.-
fer that the unprecedented stocks Of
print cloths indicate similar surplus
Of other goods. In many branches
mills doubtless manufactured goods
anticipating a demand which did not
come. 1t is now proposed to relieve
the market by selling quantities Of
print cloths abroad or by locking up
two million pieces until the market
improves. The only change in quota
tons is one quarter of a cent reduction
in some bleached goods In wooden
goods the only change is a reduction
of 712 cents in clay wo~sted and mix
lures and orders are not frequent.
Orders fo- boots and shoes have al
most ceased. Leather stiff and hides
are shade stronger. Enorn.oU pur-
chases of billets came with a rush
Of the large concerns contracting for
all that they required for months and
even years to come and some of the
largest contracts are said to have been
at about SIS a ton Or even less; but
there is as yet no better demand for
work, bars are weak, nails
declined to 81. 40 for wire and ST.. 80
for cut and little doing in rails. Buy
ers thing s25 too high with billets at
SIS per ton. Nevertheless a great
trade is expected when the relative
prices become settled.
The aggregate gross earnings Of all |
railroads in the United States report |
ing for December or part of the month |
are $50, 437 900, decrease of "a per
cent. compared with last year. Re- !