Omaha daily bee., 1898-01-01
YEAR IN BUSINESS WORLD
Comparatively Few Failures During the
Twelvemontb Just Closed.
LIABILITIES ARE SMALLER THAN USUAL
New Yenr Opens with n bright Out
look Commercially, and Full Of
Hope fop Successful
business.
NEW YORK, Dec. st.-R. G. Dun 8 Co.,

NEW YORK, Dec. Sir G. Dun & Co.'S
Weekly Review OF Trade will say.
Failures for the year. which closed last
night, have been smaller than in any year
since 1892, In number smaller than in any
year except in 1885, and in average llabili-
year during the last twenty-three, except
four The aggregate of all failures, COM
which S2S 10000 was in banking. In 1880
commercial failures the amount OF liabilities
was S15t,soooOo. of which sssCOcOoO Twas in
manufacturing and sI3,700,Oco In trading.
with Sl2, 10000 in brokerage and other COM
mercial lines. The average of liabilities per
failure was only Sl1,5S9 and in 1892 only
sll,O25, but only three years in the last
twenty three were rivals, 1883 with sl1.595,
1885 with $i1651, and 1885 with sll.07S.
ically different from these which prevailed
year ago. Great financial distrust existed
year of entire freedom from disturbance
or alarm, in which the country has paid
heavy foreign Indebtedness taken and paid
many millions for stocks sent from abroad
and accumulated credits against other cred
its represented by merchandise balances of
more than s39o,ooo,0Oo in its favor for the
last five months, with deferred exchanges
for more than 100000 held by New York
banks alone, while the great industries
have been pushing their way into foreign
markets with unprecedented success the
monetary situation is no longer matter
of anxiety.
More than 0O,COO men in few states, ac-
cording to official reports, are employed
now who were idle a year ago, and the
general advance in wages for those en-
ployed has gone far to restore the rates
prevailing before the panic. The volume of
business through clearing houses for the
week, 14.2 per cent larger than in 1892, has
for the month been O3 per cent larger than
in that year and in many industries and
branches of business the latter months of
| this year have surpassed all records.
The iron industry has been greatly en-
| couraged by Increased demand during the
last few weeks. and while the slight i'm
a
! been maintained. Notwithstanding the
greatest output ever known, the new con-
| usual for the season They include 10000
| tons of steel rails to one eastern mill 1900
tons. of structural work for improvements
| at Chicago and other cities and a greatly
| increased demand for manufacturing ma
| terlals generally and especially for sheets.
| Minor metals have been rather weak, with
| tin at 1876 cents and copper at 1887 cents,
in spite Of large arg exports while g, lead S4 ,rbs is
| best Bessemer full weight tin plates are
| selling at $3o5. against $40 for foreign. No
hange in prices of f6 foe apPs9F or
week this year.
The cotton industry is halted by the CUES
| ton OF wages, although a general reduction
| now seems probable. The manufacturers
| have been buying largely of material for
worsted goods and their purchases have
| SO that the wool markets are stronger,
though without changes in quotations.
| AFTER me great FAeltenenl at ChlcaSo .
waeat still goes out cf the country as as
| largely as before Atlantic ports, 800 IS3
| bushels, flour included against 1,542,54
| bushels last year. and from Pacific ports,
| 1,Tl2G25 bushels. In four weeks the ATLANTIC
| exports flour included. have been 15,C50,0i7
bushels against S,SOOl61 bushels last year.
| Heavy western receipts are only rejecting
| temporary conditions In the Chicago mar
| ket. But extraordinary exports of corn,
14,4G4,905 bushels, against 9,4l4,S53 bushels in
| the four weeks last year, show how sorely
| foreign markets are pushed by the increas-
| ing demand for brendstuffs. Wheat has de-
| clined "a cents with the Chicago market and
| corn has meanwhile advanced q cents.
| The cotton movement continues remarka-
| bly, heavy and yet the slight advance last
| week Is maintained The movement to date,
| although more than 7,C01 eco bales have come
| into sight scarcely supports the largest
| current estimates
| Failures for the week have been 3Sj in the
| United States against 439 last year, and
| twenty-one in Canada, against thrty-nine
| last year.