The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1897-01-09
Dun a. Co.'S Review.

New York. Jan. Pr. G. Dur & Co.'S
weekly review of trace says:
There have, been more commercial
failures in 1896 than in any previous
year since ~1S93-about 1880, against
13,197 last year, with liabilities of about
s225, 900, 900, against sl73, 1876, 600 last e
an Increase in number Of about - per
cent and in liabilities of 90 per cent. The
holiday makes it impossible to get ex-
act figures until next week, but the
monthly returns heretofore prepared
show that $36. 900, 900 of the excess over
last year was in two months, August
II September, in which manufacture
ing liabilities were SIS. SOC. 900 larger
than last year, trading $40, 600, 900, and
brokers' and other commercial $40, 30O,-
900 larger. OF the latter class $11, O41 ,4l6
out of about SIS, 600, 900 was in those two
months; OF the manufacturing class
$24, $40, $50 out of about SOS, $50. 900 in the
whole ear was in those two months,
and OF the trading class s21, S31, $50 out Of
about s10s, SOC, GOO IN the whole year. The
ratio OF defaulted liabilities to clearing
house exchanges was $4.37 per 81, 900,
against 1926 last year n $6.39 in 1893.
The average of defaultea liabilities per
firm in business vas $190.57, against S145
last year and $29O.6 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 year 1893, showing
commercial liabilities amounting to
$64, 00G. 900.
The year closes with an epidemic of fail
ures, mainly at the west and in banks.
loan and trust companies or concerns de-
pendent on them. me acton or Gearing
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
quently nndeserved. There is no none
tary pressure to cause trouble, nor have
important western products, declined in
value. There has evidently been too lib
eral assistance given by some concerns to
speculative operations. No drain on east
ern firms has resulted since the first alarm
sent has all returned. Failures often grow
more frequent as annual settlements APP
proacl.
Holiday dullness has been intensified by
the failures and the efforts of great COM
btnatons to make new arrangements.
With iron. coke, wool. cotton and hides
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 ave enormou
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
"a per cent in the first four months, and
were smaller than for five years.; de.
creased IS. per cent IN the second four
months. when new wool was coming for
ward, and We're much the smallest ever
known except in he 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 rave been but 10. 2SO, 900 bush
els. against 2.G06. S67 bushels last year.
t.antic exports, tlour included, have been
in five weeks 9.9O,0O bushels, against To-
as, 249 bushels last year. The exports from
New York in December were & per cent
larger and imports y per cent smaller
han last year.