The news & observer., 1897-01-09
With Liabilities of $276, ,8l5,-
749, We're Recorded.
SOME FACTS AND FIGURES
Banking Failures Amounted 20
$5O,7l8,0I5 During Year.
COMMERCIAL FAILURES LARGE
The Total Business Failures During
the Past Week Were 4ss, One
of the Largest Ever
Reported.

New YORK, Jan. 8.--R. G. Dun & Co.'S
Weekly Review Of Trade viii tomorrow
say:
The year 1897 begins with one clear
advantage; the past year has swept out
of the way a great number of unsOund
concerns, which, in any time Of activity,
would nave been dangerous to business.
Of the 15,2S6 commercial and banking
failures in 1895, with liabilities Of S276,-
Sl5,749, large share represented Grip
pling losses in previous years, or the vio-
lence Of speculative storms in 1895, or the
first half OF 1896, while thousands more
resulted from the fury of the political
tornado last fall. Banking failures
amounting to S50,718,015 during the year
averaged S256, 1876 each and were 145
per cent larger than in 1895.
Commercial failures amounted TO
S220, 1885, ,834, little over 81, ,O00,0 hav.
ing been added by the last day of the
year, burt the average Of Liabilities $14,-
e32 was smaller than in some years OF
great prosperity.
The failures of brokerage and other
commercial concerns averaged $5S,41S
each, increasing 1S3 per cent over 1895,
while manufacturing failures averaged
S2S, sos each and increased 81 per cent,
and trading failures increased net 1856
per cent, and averaged only S9,606 each.
Over four-6fths OF the increase in manu-
featuring and trading failures was in
lumber manufacturing, 40 per cent; dry
goods, 30; woolen manufacturing, 161;
clothing trade, 20; shoe trade, 81; leather
and shoe manufacturers, 1877; grocery
trade, 33; machinery, 20; milling, lit;
furniture, 80, and printing, 81 per cent.
In ten other branches the increase was
moderate in amount, and in FIVE, with
the unclassiied manufacturing and trad
ing failures, the liabilities were smaller
than in 1895.
while banking failures have not
ceased at the West, apprehension about
them has almost wholly subsided, and
no serious influence upon general trade
is now expected. Many sound concerns
were doubtless caught by the epidemic.
but practically all the important failures
are traced to disregard OF law and of
banking sense at periods somewhat dis
tant. 1t is felt at the West that all busi-
ness will be the sounder after it's purging
and the return OF money to New York
exceeded shipments to the interior by 81
100000 for the week. Cotton started
up shade, but receipts from plantations
are still too large for low estimates and
the condition OF the cotton mills fore
shadows curtailment rather than large
consumption. The market for goods 10
extremely slow, as many infer that the
unprecedented stocks OF print cloths In
dicate similar surplus OF other goods"
BRADSTREETS REVIEW.
New York. Jan. 8-Bradstreet's %
morrow will say:
with the exception OF reports from q
dozen South Atlantic coast and Gulf
State cities, jobbers at nearly all dis
tributing centers say business is dull and
without new features. Demand has im-
proved at Chicago and ST. Louis for
hats, hardware, shoes and dry goods, but
trade in those lines is fair only. Colder
weather has stimulated purchases Of
clothing at some points. Little general
recovery from holiday dullness is re-
ported as yet. AT most centers salesmea
are just starting out. Collections are
reported unsatisfactory, but in many in
stances merchants express themselves as
hopeful Of good spring business.
The price movement has had little
significance, advances having been shown
in hides, which have become relatively
scarce, turpentine, coffee, wheat oats
and tin. A firm and practically un-
for wheat -four pork, sugar, cotton,
print cloths and petroleum and reactions
are reported in quotations for Southern
pig iron, lard and corn. The week has
been marked by exceptionally heavy or
ders of Southern pig iron for export
Cotton goods remain as depressed and the
market is as unsatisfactory as heretofore,
with lower prices expected.
Exports of wheat flour included with
wheaD from both coasts of the United
States this week amount to 3,10S.6SS
bushels, which compared with 2,707, 900
bushels last week, 3,471 900 bushels in the
first week OF January, 1895; 1851, 900
bushels in the corresponding week of
1894, and as contrasted with 3,30S000
bushels in the like period of 1893.
'The weeks total OF business failures
throughout the United States is 4S8, one
If the largest ever reported. This is CON
rasted with 800 in the last week Of 1896
with 446 in the first week Of 1896, 405 in
The corresponding week of 1895, and
With 4S4 in the like portion Of 1894.