The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-01-01
WEEKLY TRADE REVIEW.
Fhc Prospect OF tho Year nud tho
Nut1OOk

~
uuiiest of the dun season which has fol-
lowed the fortnight of revived demand
carry In November. The uncnsiness las.
week caused by northwestern bank fall
ureS is continued by similar cmbarrass-
ments at Chicago and Mlnneanoiis
These bank failures seem to be tho ont
come OF conditions originating in the
banks. and not due TO the situation OF
general trade.
unreasonable weather. the making OF
Inventories, and the customary absence
or demand in wholesale lines have com
piheu 10 produce more than usual holt
DAY uulness. More Favorable reports
include heavy exports of -four and gen
eral merchandise from Tacoma to Chlnn
ana japan, the report at Chicago of Il
satisfactory amount OF orders for dry
goods for spring delivery and an in
creased total volume of business i'm 1SgG
among ST Louis shoe manufacturers
and jobbers of dry goods, as COMPARED
with 1885.
Manufacturers of woollcn goods are
buying raw material only TO cover or
derS received. Large stocks of unsold
PRINT cloths continue TO dcprcss quota
Tons ana merchants in leading staple
lines at larger distributing centres do
not anticipate an early Improvement in
BUSINESS. Prices are unchanged ana
! comparatively firm for flour. pork. lard.
sugar. anthracite coal and steel billets
since the break in iron and steel prices
consumers appear inclined to await de-
vclnpmcmts
The list of business failures through
out the United states for the calendar
year 1896 is with one exception, the
longest since records of this charn cter
nave been compiled. The year lSg2 alone
| presented a larger total
inc Total number of failures during
1886 is l5ll2. an Increase OF IL per cent.
| compared with lS9i, In wh.chc year
business cmbarrassmcnts Increased .
| Der cent. ar viii
fore. In 1891. which was marked by cN-
| IRENE depression in commercial ana in
dustrial circles, the total number of fail
ures fell off sharply fully is per cent.
| from the record In 1898. During 1896
| the aggregate assets OF those cmbar-
iaSScd were nearly GO per cent of the
| t"ta Liabilities. the significance of which
Hes in its contrast with the record Of n
year ago, when assets were 50 per cent.
! and To the exhibit for 1894. when mo
I proportion was 81 per cent
me extraordinary heavy total of
! business embarraSsments In the uanIc
! al 1873 was almost paralleled i'm 1896
notwithstanding 4 falling off of nearly
one.lttn m number in 1874. The $2i7. :
| oDO.UoO liabilities OF those falling during
! the past L. months is challenged only bv
/ corresponding totals in 1871 and 1891 re
! spcctiNely S2iS coo, 900 ana SiOo. 600 600
J The aggregate of $liS 900 COO of assets is;
an increase over thc corresponding to-
7 81 "a So VI lullN az per cent.
/ IS Sl4,090,00 larger than the IKE total IN
/ 1871. ana mas been exceeded only bv tho
! to;hl assets OF failing traders i'm tho
panic year. 1895
X. g. Dun n Co, in their weekly re
view of trade on Saturday, January .
/ will say: -
There has been more commercial
ioliures IN 1896 than in any previous
year except 1899, about II $50. against
80 s5Nl lasi year. with liabilities Of ahou,
E""':oUo'oio against STA, 06O last wear
an increase In number of about II ne,
cent, ana in liabilities of % per cent.
The year closes with an epidemic q.
failures. mainly mt the West and in
pdhRs' loans and trust companies. al
! concerns dependent on them The ac-
| lion of clearing houses In various places
indicates no want of confidence. ana
+, several banks. which have failed will
/ be enabled To pay in fun, but disclosure
/ OF lnSoundness in Il few widely known
! institutions in the abnormal state of
! popular feeling after an excited contest
/ ON monetary issues, has caused dis
| trust and suspicion where IL Is fire.
! Guent!y undtSerNcd. There has been no
! monetary pressure 10 cause the trouble.
! nor have important Western products
| Iecilhc' IN value There has evidently
| been too liberal assistance given by
! some ilduciary concerns to speculative
l operations No drain on Eastern funds
/ has resulted since the first alarm at
I TWO aI@e failures, and the money then
! sent has all returned. Failures often
I grow more frequent as annual settle
, mcnts approach.
! In none OF the Industries has there
| been activity the past week HOLIDAY
I dullnesS has been intensified hv tho
. tai urcS ana the efforts of great comb.
/ nations I" make new arrangements.
Z Win IRON wool cotton and hides all
/ somewhat lower. there is almost uni
! v"rsEl confidence that business Will soon
/. become larger and safer than before I'm
| Il long time Cotton mills have cnor-
| nous stocks Of unsoll goods in some
| lines. the surplus of print cloths being
! the largest ever known and about a
! quarter of years consumption Wool
! sac decreased ~ per cent. in The fi,s;
| four months and were smaller than iol
. I'VE years, and decreased In the second
f, Tour months when new wool was com
, ing forward. and were much the small
! est ever known. except in 1899. but enoI-
/ NOUS sales. mainly speculative. made
!, tho aggregate during the last fou,
| months nearly equal to that of la year
| In November a small Improvement
| over 1920 appeared ana tho dccrcas
| from 1892 was but l. per cent. but In
| December payments were az Per cent
! smaller than last year and 2u% IaI
cent. smaller than in 1872. Railroad
earnings We're Slightly larger thIn last
year in each of the first seven months
! and smaller each month than in 1882
IN August and the later months TN 70
has been decrease as great rs II pei
cent. in November from 1916. and lG..
Der cent. in from fSgp