The Wichita daily eagle., 1897-01-09

Years Losses, Unbusincsslike Babi;s or
illegal Methods, or all Com bined- -Busi-
ness Sea is all the Safer From the De-
struction of These financial DereIic:s-
The Trade Situation.
New York. Jan. S-R. G. Dun & Co.'S
weekly review Of trade viii say tomoT-
row:
The year 1897 begins with one clear ad-
vantage; the past year has swept out OF
the way great number OF unsound co.'s
Germs which in any time of activity would
have been dangerous 10 business. OF the
1885 commercial and banking failures in
1895, with liabilities Of s21s.sl5, ,7Is. a large
share represented Gripping losses IN pre-
vious years or the violence of speculative
storms in 1895 or the first half Of 1885,
wni.e thousands more resulted from the
fury of the political tornado last fall.
Banking failures, amounting to $50. .71S.9i5
during the year. averaged s156, l56 each
and were 145 per cent larger than in 1855.
Commercial failures amounted 10 $226.-
Ce6.s34, a little over 81 Coz, 900 having been
added by the last day OF the year. but
the average OF liabilities. s14.992. was
smaller than in some years OF grea: pros-
perity.
The failures of brokerage and Other
commercial concerns averaged s5S,4IS,
each increasing 1S3 per cent over 1885,
while manufacturing failures averaged
S2S,sO9 each and increased "a per cent and
trading failures increased loo per cent
and averaged only s9.6OS each. Over four
hfths OF the increase in manufacturing
and trading failures were: In lumber
manufacturing, 10 per cent: dry goods,
so; woolen manufacturing. 16: clothing
trade. 20: shoe trade. 81; leather and shoe
manufacturing, 16I; grocery trade, SO;
nachintry. 20; milling. III: furniture and
printing. 81 per cent. In the other
branches the increase was mo ierate in
amount and with the unclass. .tIed manu-
facturers and trading failures the liabili-
ties were smaller than in 1895
While bank fai,ings have not ceased at
the west, apprehension about them has
almost wholly subsided and 40 serious
II fuence upon general tlade is new eX-
p2 tea. Many sound concerns weTe-doubt-
less Ca ught by the epi1emic. but lpracti-
caly all the important failures are traced
10 disregard of law and Of banking sense
at pdriods somewhat distant. II is fel. ;.
the west that all business will be The
sounder after its purging and the return
OF money TO New York has exceeded the
shipments TO the interior by $1,000, 600 for
the week
W5eat rose TO 90 cents on Monday, but
has declined again TO S9.25 cents, with
western receipts a million bushels small
er than last year, while Atlantic exports
-four included. were 2.037 900 bushels.
against 2.3S7.936 last year. The trade ac-
counts indicate great quantity in farm
ers' hands. enough TO permit more than
h,,-t tNar- 81. - -.
ing SIX months
Cotton started up a shade. but receipts
from plantations are still too large for
low estimates and the condition of the
cotton mills fOreShadOWS curtailment
rather than large consumption. The mar
ket for goods is extremely slow as many
infer that the unprecedented stocks of
print cloths indicate a similar surplus of
other goods. The logic is bad, but in
many branches the mills have doubtless
manufactured goods anticipating a de-
mand which has not come. II is now pro-
posed to relieve the market by selling
quantities of print cloths abroad, or by
licking up 100000 pieces until the mar
ket improves. The only change in quota
tons is one quarter cent reduction IN
some bleached goods. Prices of wool are
a shade lower. In woolen goods the only
change IS a reduction of ~ per cent in
clay worsted and mixtures. and orders
are not frequent. Orders for boots and
shoes have almost ceased, except for a
few qualities, which have been advanced /
only 212 10 5 per cent in price. but job /
bers are buying a little more as stocks I
run low. Leather is stiff and hides are
stronger.
Enormous purchases OF billets came
with rush, most Of the large concerns
for all they require for
months and even year TO come and
some OF the large contracts are said 10
have ben about s15 or even less, bus there
IS as yet no better demand for structural
work, bars are weak. nails have declined
ID $40 for wire ana s1.30 for cut and lit
tie is dong in rails. as possibly buyers
think 81 is too high with bil,ets at SIS per
ton. Nevertheless, a great trade is ex-
peeted when relative prices become set
tied.
The aggregate of gross earnings os all
in the United States reporting
December or part OF the month is $780,
III ,eS5. n decrease OF "a per cent compar-
q with last year. and Of SO per cent COM
pared with the corresponding time in 1892.
Fine latter reports make a more favorable
showing than any of the early returns
,or the month. For the fourth week roads !
eporting show a considera be increase in |
gross earnings. The increase is not con-
ined TO any one section, but nearly all
he large systems report large gain in
he fourth week. Compared with 1892.
Dads reporting for the month show re-
iuced earnings. the greatest loss being on
,rangers and other western roads As a
whole. the return so far made for Decem-
Der compares much more fsvorably with !
preceding years than the first complete |
eport for November.