The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-01-01
TRADE REVIEW.


doFe Failures IN 1893 than In Any Year
hut One-Dne Largely TO the Agitation of
the Money Qqsstion-TherS u No Want
6rconfhoneo- Outlook Farorable.
NEW YORK, Dec SIR. G. Dun &
company's review OF trade win say.
There have been more commercial
failures in 1895 than In any previous
year. except 1893, about 1880 against
1s1sT last year with liabilities Of about
Ssg5, ,OOO. 900 against Sl7S, ,1s6. 900 last year,
an increase IN number of about u per
cent and In liabilities OF g per cent.
The holiday makes 1t impossible TO
give exact fures until next week. but
the monthly returns heretofore prepar-
ed show that $S6,000,000 Of the excess
over last year was IN two months, Aug
ust and September, in which manutac-
turing liabilities were $l5,600,0 900 larger
than last year. trading Sl0.000,0O0 ana
brokers and other commercial $l0.3QO,-
900 larger. OF the lntter class Si1,041, ,4l6
out of about Sls,6O0.0O0 were In those
two months; Of the manufacturing
class $24, 4,9l0,356 out OF about S9S, 600
in the whole year were In those two
months, and OF the trading class $2l,-
S3l, $50, out OF about $i0s 100000 In the
whole year. The ratio OF deiaplted lie
abilities 10 clearing house exchanges
were SA37 per $1,000, against $S.25 last
year, and $6.S9 In 1895. The average
OF defaulted liabilities per hrm n bnsi.
ness was Sl90.57. against Sl45.O0 last
year and $2g0.65 In 1893. The exact
statement by states and by branches
at business will be given next week.
For the first time detailed, monthly
statements are published for the last
quarter OF the paTitc year 1893, show
ing commercial liabilities amounting
TO 100000
The year closed with an epidemic OF
failures. mainly at the west, and In
banks, loans and trust companies, or
concerns dependent on them.S The ae-
tion Of clearing houses In various
places indicates no want OF confidence
and several banks which have failed
will be enabled to pay in full, but dis
closure OF unROundness in few widely
known institutions In the abnormal
state Of popular feeling after an eXclt-
ing contest on monetary issue has
caused dlstrust and suspicion where It
Is frequently undesecved. There has
been no monetary pressure to cause
trouble, nor have important western
products declined in value. There has
evidently been too liberal assistance
given by some flducLary concerns 10
speculative operations. No drain on
eastern funds has resulted since the
first alarm at two large failures, and
the money then sent has all returned.
Failures often grow more frequent as
annual settlements approach.
Holiday dullness has been intensified
by the failures and the efforts OF
great combinations TO make new ar
rangements With iron, coke, wool, cot-
ton and hides, all somewhat lower, there
Is almost universal confidence that
business will soon become larger ana
safer than before for a long time. ana
several large establishments, among
them the Yonkers carpet works, which
employ 1000 hands when full. and the
Maryland Steel Company Will now
start In operation. Cotton mills have
enormous stocks OF unsold foods In
some lines, the surplus OF print clotht
being the largest ever known and
aboutsn quarter OF years consump-
tIon. Wool sales decreased "a per cent
in the first four months, and were
smaller than for five years; decreased
sc per cent in the second four months
when new wool was coming forward
and were much the smallest ever
known, except IN the panic OF 1873; but
enormous sales. mainly speculative,
four months Resrly equal to that OF
last year.
Wheat has risen to the highest point
since June, 1892, because western re-
ceipts IN five weeks have been but 1S,-
2sO,000 bushels. against 22,606S67 last
year.
Atlantic exports, flour included, have
been in five works 100000 bushels.
against 10.413.240 last year. The exports
from New York in December were 3
per cent larger, and imports 12 per cent
smaller than last year.