Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1898-08-04
RECORD CT BUSINESS.
STATISTICS SHOW
PROSPEROUS CONDITIONS.
The Showing of Manufacturing ana
Mercantile Failures for the Past ok
Months Proves that the CountrS~s
Finances Are on SOunu 0asls'
Gratifying Exhibit.

Gratifying Exhibit.
The record of mercantile failures TOT
six months ending June so is remark
able and gratifying exhibit. 1t SHOWS
in the total of $67 Az, 639 liabilities
the smallest aggregate for tive years III
eight of the fourteen trading branches.
Compared with the first six months o.
1897 the record is striking. linen, IL
should be remembered, the business
conditions of the country were feeilng
the impulse of the change OF admins
tration, and also the promise OF an
early fulfillment of the pledges OF the
Republican national platform. Conn-
dence everywhere prevailed, every ell
terprise was prospecting, the depression
caused by the four years OF the CleVe-
land free trade administration had
been in great part dispelled, ana all IN
terests were hopeful.
Bearing in mind the fact that decided
improvement was in progress during
the first half of 1897, the reduction OF
1O3 in the number of failures and of
S24, 24S, AS in liabilities in the first half
of 1893, compared with the same time
in 1897, is noteworthy. The present
conditions will more strikingly appear
if we make comparisons by twelve
months periods. The failures for the
fiscal year ending June 80, 1893, were
1928 while the liabilities were $780,
OS3 1923, against 1851 failures and
$154 332 OIL liabilities during the pre-
vious fiscal year The first half Of that
year showed 6,S21 failures and $751;
692, 1877 liabilities, while the last half OF
the year, Jan. 1 to June 30, covering
the period of early recovery from the
previous depression, showed $3.50 fail
ures and $62, 639, 2S4 liabilities. These
figures show progressive Improvement.
The last twelve months of liabilities,
$3.50 0S3, 923, are the smallest for any
calendar year since 1892, when the
total was $114,O44, 49, and that total
was the smallest for any calendar year
since 1892
Comparisons of the last six months
period with the same time in 1897
show some notable decreases in special
branches. Liabilities of manufacture
ers indicate diminution Of So, 100000
Probably the most striking feature of
the record is that the failures in bank
ing for six months were 80 in number
and &13, 100000 III liabilities less than
for the same time last year. The rea-
son is obvious. Banking conditions
were probably never so well establish
ed as they now are. This is due not so
much to the bountiful crops Of last sea
son and the enormous addition thereby
to the material wealth of the country
as to the growth of confidence which re-
suited from the election of, President
Mckinley and the promise, and later
realization, of the enactment of a pro-
tective tariff. Bountiful crops and the
marketing thereof at high prices were
important auXiliaries to and by no
means primary factors in the wonder
fully improved conditions Of the banks
and of the country which have been so
prominent during President McKin-
ley's administration. The general de-
crease in banking defaults shows how
complete was the confidence of the peo-
pie in that administration. Had this
confidence not existed, bank deposits
would not have increased so marvel
ously as they have done, loans would
not have been augmented, neither
would the banks have been enabled to
accumulate such vast amounts of gold
as they now possess.
Though the record of failures for the
cnannH n110Ttpr of tho
makes some unfavorable comparisons
when contrasted with the same period
in 1897, this result was due to entirely
exceptional causes. There was an in
crease Of 142 in the number of failures,
but the liabilities were 50, 1SG,SO2 less.
There were important suspensions of
manufacturers of machinery, of print
ing establishments, of locomotive
works, cycle concerns and manufacture
ers of rubber tires. But considering
the fact that during this last quarter
the country was actively engaged in
war, which had a depressing effect up
on some Industries, these failures are
not surprising. 1t may be noted that
in the cotton industry, which was
greatly depressed last fall and early
this year, there are now indications of
revival, as is shown by the fact that
whereas there We're failures of New
Bedford, Mass, mills last year, involv-
ing $6,50O,00O, only one failure, for
$4,000, is recorded this year.
The country has now entered upon
the second fiscal year Of President Nc
Kinleys administration. The outlook
is very encouraging for an early res
toration of peace. The enactment of a
bankruptcy law will aid in restoring to
activity many merchants who have for
years been compelled to remain mac
tive because of the pressure of old
debts. With the return of peace will
come increased prosperity, and the rec
ord of mercantile failures for the third
quarter Of the current year should show
reductions in liabilities even more de-