The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-08
Iron Manufacturers Are still Busy,
and General Industries Are Active,
Especially in the West.
SPECTATORS NOT HAPPY
WHICH IS REGARDED As A GOOD
SIGN FOR LEGITIMATE TRADE.
Bank CIearings 23 Per Cent. Greater
than "a Year AgO-Exports of Grain
-Commercial and Bank Failures.

NEW YORK, Jan. 7.--Bradstreet' to-
morroS will say: The year opens with
tone of quiet confidence pervading nearly
all branches of business, with encouraging
activity in the iron trade, a resumption Of
work by many thousands of industrial en-
ployes in the Western glass industry, a
largely reduced volume of business failures
as compared with corresponding periods in
preceding years. and general outlook GER
tainly Tot inferior to any previous year at
this time Distributive trade has naturally
been rather slow pending stock taking, and
the return of statesmen to the field While
the volume of distributive business is no
larger industrial activity is q special fea-
.ture unconfned to any one section, but
specially notable in the West. Resumption
of work after the holidays has been gem
orally encoura ging in that section. Autumn
weather in the Northwest checks distribu-
ton, but collections are reported good.
Sales of Southern iron ara large, and
Louisiana sugar crop returns have been
very satisfactory. Nne-tenths Of Floridas
orange crop was gathered before the late
freeze, and cotton is steady and in good
export demand. Wool has opened up ac-
lively at some Eastern markets, and lower
prices for cotton goods have stimulated
some demand.
Naturally en- )ugh. there is a slight gain
in the number of failures reported this
week over last, the total aggregating 1893,
against 297 last week, but heavy falling
off from 1887, when the total was ass. The
total in this week of 1896 was AS; in 1895,
405, and N 1894, 4Sf. thus showing a falling
off from this week in recent preceding years
of from one-quarter to one-third. Bank
failures in 1897 followed the general ten
dency of business mortality in all other
lines of business. The reputation of the
banking community for conservatism, how
ever, is borne out by the relatively heavier
falling off in the number of failures and
the reduced volume of liabilities of banks
and trust companies, as compared with
preceding years, than in ordinary CONNER
ciai circles. The total number of failures
of national, state, savings and private
banks and loan and trust companies in 1897
105, little more than half of those of
1896, and less than one-ffth those of the
panic year 1893. Liabilities also showed
heavy falling off, being GO per cent. smaller
than in 1896 and 80 per cent. smaller than
in 1898. The number and liabilities, how
ever, were slightly larger than in 1894 The
percentage of assets to liabilities in 1897
was only 0.76, the smallest reported since
Bradstreet's record of bank Suspensions
was begun.
The holidays have exercised their ex-
pected effect on export trade in leading
cereals. Wheat exports from the United
States and Canada for the first week in
January amount to 3.4S1.576 bushels, against
5495.000 bushels last week, 310S,e00 bushels
in this week year ago and 3,47f 900 bushels
in the corresponding week in 1896 Corn
exports also show a sensible diminution,
amounting to 4,0S6,000 bushels last week,
4S1900 bushels in this week a year ago,
and 2.626000 bushels in the corresponding
week of 1886.