Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-01-09
Dun IL Co.'s Review.

New York, Jan. 2.-R. G Dun d Co.'S
weekly review Of trace says:
There have been more commercial
failures in 1896 than in any previous
year since ~lS93-about IA. $50, against
3,l97 last year, with liabilities of about
S225, 600, 900, against $l73, 1876, 900 last year,
an increase in number Of about II per
cent and in liabilities Of 20 per cent. The
holiday makes it impossible to get ex-
act figures until next week. but the
monthly returns heretofore prepared
show that $50. 900, 600 of the excess over
last year was I'm two months, August
and September, in which manufactur-
ing liabilities were SIS, 500, 600 larger
than last year, trading So 00, 900, and
brokers' and other commercial $40, 300
900 larger. OF the latter class 81 ,04l ,4l6
out Of about SIS, 600, 600 vas in those two
months; of the manufacturing class
$24, $40, 1856 III of about sos, 260, 900 in the
whole year was in those two months,
and OF the trading class $21, S31 $50 out OF
about sos, 500, 600 in the whole year. The
ratio of dofaulted liabilities to clearing
house exchanges was $4.37 per 81 1000,
against 1926 last yea and Sc. 80 In 1893.
The average Of defaultea liabilities per
firm in business was $190.57 against sli5
last year and $3.50. 65 in 1893. The exact
statement by states and by branches OF
business will be given next week. For
the first time detailed monthly state
ments are also published for the last
quarter of the panic ear 1893, showing
commercial liabilities amounting to
$64, 900, 900.
The wear closes with an epidemic of fail
1raa mainly at the west and in banks
loan and trust companies or concerns de-
pendent on them. The action OF clearing
houses IN various places indicates no want
OF confidence. and several banks which
have failed will be able to pay In full, but
disclosure of unsoundness In a few widely
known institutions in the abnormal state
of popular feeling, after an exciting con-
test on the monetary issue, has caused
distrust and suspicion where 1t is fire.
quently undeservcd. There Is no none
tary pressure to cause trouble, nor have
important western products declined In
value. There has evidently been too lib
cral assistance given by some concerns to
operations. No drain on east
ern firms 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 APP
proach.
Holiday dullness has been intensified by
the failures and the efforts of great COM
binations to make new arrangements.
With iron, coke, wool, cotton and hides
III ~ ldN o"'l Nv - iiO hAii
versal confidence that business will soon
become larger and safer than for a long
time, and several large establishments.
among them the Yonkers Carpet works,
which employ 1000 hands when full, and
the Maryland Steel company, will start
operations. Cotton mills have
stocks OF unsold goods In some lines, the
surplus of print cloths being the largest
ever known and about a quarter of a
years consumption. Wool sales decreased
q per cent in the first four months, and
were smaller than for five years; de-
creased 81 per cent In the second four
months, when new wool was coming for
ward, and We're much the smallest ever
known except in the panic OF 1873, but
enormous sales, mainly speculative, made
the aggregate during the last four months
nearly equal to that of last year.
Wheat has risen to the highest point
since June, 1892. because western receipts
In five weeks have been but 10. $50, 900 BUSH
els, against %. 1908, 367 bushels last year.
t.antic exports, flour included, have been
In five weeks 100000 bushels, against 49,
tl3, 24s bushels last year. The exports from
New York in December were ) per cent
larger and imports u per cent smaller
than last year.