Omaha daily bee., 1897-01-09
BUSINESS FAILURES OF 80
Great Number Of Unsound Concerns Go to
the Wall.
LITTLE APPREHENSION NOW REMAIN
Houses which Have Suspended opcr.
ntions Would Have Decn Dam
gerous 10 business In Any
Time of Activity.

NEW YORK, Jan. S.-R. G. Dun s. Co.'S
Weekly Review of Trade Will tomorrow
say:
he year 1897 begins with one clear advan-
tage-the past year has rwept out OF the way
"A great number of unsound concerrB, which in
any time OF activity would aave been dangerous
TO business OF the l5,2SG commercial and bank-
ing failures In 1886 with liabilities of SaT6 SIS -
ily, a large share represented GRIPPING losses
In previous years or the violence OF speculative
storEN In 1895. or the first half OF 1895, Vile
thousands more resulted from the fury VI the
political tornado last fall, Banking failure,
amounting to S-y,57s 9it during the year avt.apa
$l55, l56 each, ana were l45 per cent larger than
in 1895,
Commercial failures amounted to s226.Og6 SSi. a
little over $1,000 900 having been added by the
last day of the year, but the average Habi-
ties. slh992 was smaller than In some years OF
grcat prosperity.
The failures of brokerage and 'otaer'' com
morcial concerns averaged S.4lS EACH inorefI,-
Ing lS5 per cent over 1895, while manufacturing
failures averaged S2S.sOS each and Increased "a
per cent, and trading failures increased log per
cent and averaged only S96O6 each Four-fftns
of the Increase in manufacturing and trading
failures was in the lumber manufacturing lTO
per cent; dry good, 80 per cent; woOlen manufac-
turing, 16 per cent; clothing trade, 20 per cent;
shoe trade 81 per cent; leather and shoe manu-
facturers, l6 per cent grocery trade. % per
machinery, 10 per cent; milling, III per cent
furniture, 30 per cent, and printing, 81 per cent.
In the other branches the increase was modeg-
ate in amount and in five of the unclassfed
manufactures and in trading failures the LA
bilities 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 expected. Many sound con-
Germs 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 distant. II is felt that all
signs will be the sounder after this purging
and the return of money to New York has ex-
ceeded shipments to the interior by $2OGO,OOO for
| the week.
| Wheat to 92c on Monday but has de-
| clined again to S9.25c, with western receipts
| LOCO, 600 bu. smaller than yesterday, while At
lantic exports. flour included, 2,O37,gO0 bu.,
| against 233I 1886 bu. last year The trade ac-
| counts indicate great quantity in farmers
| hands enough to permit more than 100. 900 coo
| bu. to be exported in the remaining six months
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 consuml,.
| ton. The market for goods Is extremely slow,
| as many infer the unprecedented stocks OF print
cloths indicate similar surplus of other goods.
Ine logic Is bad, but in many branches the
mills have doubtless manufactured goods anticl-
pating demand which has not come. 1t is now
proposed to relieve the market by selling guam
| titles of print cloths abroad by locking III,
| 100000 pieces until the market improves The
| only change In quotations is &c reduction in
some bleached goods. Prices of wool are II
| shade lover In woOlen goods the only change
| Is a reduction of TIC in clay wor7tel and ms.
| tu"es and orders not frequent. Orders for
| boots and shoes have almost ceased, except ror
| f+l Qualities, which have been adv Inced only
| :!a' to o. III rce, but jobbers huying d II:
| lle mo,e, as stocks have run l>w.
Enormous purchases OF bilets came with n
| for all they require for months and even a year
10 come. and some of the largest contracts
| are said to have been about SIS even less
| but there Is as yet no better demand for struc-
| tural work Bars are weak. Nails have de-
clined to $40 for wire and 81 30 for cut and lit
| tie Is doing In rails. as possible buyers think
50 is too high with bllets at SIS per ton. Amont,
vessels a great deal is expected when relative
| prices become settled.
The aggregate of gross earnings of the United
| States reporting for the month of December is
SS6 43IOs5 decrease of "a per cent compared
n ~ n
with the corresponding time in 1892. The latter
| reports make more favorable showing than
any OF the earlier returns for the month For
| the fourth week roads reporting show a consid-
erahle increase In gross earnings, The increase
| IS not confined to any one section, but nearly
| all the large systems report n large gain in the
fourth week. Compared with 1892 roads reporting
Tor the month show reduced earnings, the great
| est loss being in grangers and other wtitern
roads AS whole the returns far made for
December compare much more favoraby with
for November.