The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1897-06-10
The Failure Record for May Iss
Cause for Enc uragement.


1aHuFeS. IN DOCKS ana mats, only s In grocer
les, and not one trading class ia that month
has reported failures larger than Sin the
half the preceding months. though In fur
niture failures are rather numerous In
clothing manufacture the month was the
smallest except out Of SO, except s in chem
1cals. 6 in wooden goods, z in machinery,
lumber and miscellaneous manufactures.
and exceeded the average only in iron and
cotton goods and earthenware, owing to
q few failures of exceptional size. Nobody
can mistake the meaning Of such returns.
A Favorable Comparison.
"The statement that. except for the tenn
porary depression in prices. the volume of
business transacted is now larger, than it
was in 1892-the year of prosperity-has
been questioned by some. But compari-
son Of prices this week in the leading
branches Of manufacture not only confirms
that view. but shows a remarkable SINH
larity to the course of prices in the earlier
months Of 1879, when the most wonderful
advance in production and prices ever
known in this or any other country was
close at hand. The key Of the situation is
the excessive production of some goods in
advance of an expected increase in de-
mand. So In 1879 consumption gradually
gained, month by month. until suddenly
1t was found that the demand was greater
than the possible supply All know how
prices then advanced. and the most mar
velous progress in the history of any coun-
try resulted Within two years. T..
Distribution increasing. ~
Reports from all parts Of the country
now show that retail distribution Of prod
ucts is unusually large and increasing.
There is no Improvement In the market
for farm products. Cotton is not higher,
and the belief that the next crop will be
large, in spite of the floods, Is general. while
the demand for goods does not change,
although in this country it Is large enough
to keep the markets for most goods steady.
Nor is there any satisfactory demand for
wooden goods. The transactions greatly
exceed the demands Of the mills although
these are larger than Of late, because the
manufacturers of wooden goods have stead
lily increasing orders. The iron industry is
apparently expanding production. and is
certainly getting larger contracts. in part
made for beams. Bessemer pig is strong
er. and gray forge shade weaker. under
pressure of southern anxiety to sell. The
rail mills are all full, the Illinois Steel
company having orders for a railway and
bridges in Corea. and there is better de-
mand for plates and sheets, and from
makers of agricultural implements at Chi
cago for bars.
Crop Prospects Good.
"Crop prospects are so good that the
rumors customary at this season have no
attention. It was stated week ago that
along the northwestern roads prospects
were remarkably bright, and highly favor
able reports have since appeared from
Kansas and from Texas. and are given
in dispatches from the Pacific coast"
Failure Statistics.
New York, June 5.-Bradstreet's pub
fishes this week the results of what is
claimed is the most important statistical
investigation ever. made concerning bust
ness failures in various lines of trade. It
he 1ucff hvon
mary Of the results presents the total num-
Der of failures in lines of business in which
there were ten or more annually during
the three years named. Purely CONNER
cial enterprises, wholesale and retail. are
seen to furnish 20 per cent. of the busi-
ness failures each year and manufacturing
embarrassments about 20 per cent Out of
the increase of nearly 100 failures In 1896.
compared with 1895, 1875, or more than one
half. were Of retail commercial concerns.
The counting Of the total number of indi-
viduals. firms and corporations in business
In 81 groups OF the more important lines
OF trade Is an unprecedented work. These
totals constitute what may be termed the
business population of the country in these
lines. and permit. with the totals Of failures
in these lines, the calculation of the COM
mercial death rate in the departments or
lines of business specified This record
shows that In 1896 u out of every 900
clothing concerns and 81 out of every 1000
bicycle houses failed In business, the two
lines having relatively the greatest COM
mercial mortality last year. The rate
throughout the country in all lines last
year was "A commercial deaths out of every
1000 In business. Commercial failures were
relatively most numerous, after the two
lines specified. among manufacturers OF
Or dealers In hats. furniture, glassware.
dry goods. notions. woolens. jewelry. lum-
Der and hardware. After that the rate OF
embarrassment appropriated more near
ly the normal. l7..., f. .,-e =.