The herald., 1898-04-09
Totals .,.......
.6272hHS

III NtcW VI tnt SeHeTdlly SallSIdCtOry con-
dition of business In most sections of the
country during the first three months of
this year, 1t is not surprising to find con-
siderable falling Off In the commercial NOR
tality from preceding years. Briefly
stated, there were fewer business failures
smaller liabilities. and therefore corre-
spondingly lessened assets of those falling
reported during the first quarter of this
year than in the corresponding periods of
any year since 1893. 1t is to be borne In
mind that Bradstreet's considers as busi-
ness failures only such embarrassnents
of individuals, firms and corporations as
show liabilities in excess of assets and II
is proper to add that no account is taken
of financial embarrassments of employees
Of those conducting business enterprises
or of farmers.
The total number of failures reported
during the first quarter of 1898 was 8515,
involving $36.19S,566 in liabilities, with as
sets aggregating about "a per cent of the
liabilities, or only q little above the normal
1t Is hardly necessary to state that this is
good showing, when comparisons are
made with recently preceding quarters.
For instance, when compared with the first
quarter of last year, there is a decrease
shown on the number of failures Of 10 per
cent, while as compared with the first
quarter of 1896 there is a decrease shown
OF % per cent. Particularly encouraging in
this connection in the fact that the decrease
shown in the first quarter of this year is a
progressive one, 1896 having shown a de-
crease from 1895 of nearly 10 per cent in the
number of failures. Compared with 1896
the first quarter of this year shows a de-
crease OF 7.6 per cent in the number of
failures, and compared with 1894 of over II
per cent, while as compared with 1893 there
is q net gain Of 14.5 per cent. 1t was not un-
til the beginning of the second quarter of
wrvtll y u At.A A.
cial trouble eliminating in a panic first
began to exercise an influence upon the
commercial mortality.
Among the cases decided by the supreme
court of the United States recently was
that Of The Mccormick Harvesting Ma
chine company VS.. Aultman ct al, which
involved the question of the au-
thority OF primary examiner in
the patent office to reject as invaAd
claims of an original patent which were
incorporated In an application for reis-
sue, the patents at issue being two cover
Ing automatic twine binders for harvesting
machines. The court, in deciding the case,
held that upon the issue of the original
patent the patent office had no power to
revoke, cancel or annul it; that the office
lost Jurisdiction over the patent when 1t
was once signed, and did not regain juris-
diction by an application for q reissue
and that upon application being made for
reissue the patent office was authorized
to deal with all the claims, the original as
well as those inserted first in the applica-
tion. and might declare them to be invalid
nut that such action would not affect the
claims of the original patent, which re-
mained in full force If the e'application for
reissue were rejected or abandoned.
It is said that vigorous efforts are being
made to unite the collar, cuff and shirt in
terests of Troy and vicinity under one
head.
The sugar plant in construction at La
Grande, Oregon, will cost 100000 To keen
the plant in operation requires $50 tons of
beets day and 1000 cords of wood for its
season of operation, about 100 days.
New capital Issues in London this year
have been G27,817 ,5S2, against Ell, 1852. .642 in
1897 and G17,197 ,S32 In 1896
Nearly $500 900 additional gold has been
forwarded from Europe to New York dur
ing the week, making q total since the
present movement began of nearly $S7, 900, :
SuyS bTuuSlTCeI >. 40 tnlS must be
added the amount Of 5000 900 In transit
from Australia to San Francisco. Alto
gether the movement of specie in this d.
rection during n period of little more than
. month has attained the dimensions of
over 100000, an amount which, 1t is
claimed, exceeds the record for such q
period. The extent of this weeks gold
importing arrangements was indeed some-
what of surprise. The governing factors
IN the matter appear to have been the
flrmness with which time money has been
held and the consequent ability of bankers
to effect loaning arrangements for ex-
tended periods at per cent, or little bet
ter, even in face of the plentiful supply Of
money In the call loan market and the
prevalence of a rate of ~ and per cent
for borrowings Of that description. It must
Also be noted that the further break in ex-
change and the ability Of bankers to i'm
port gold at profit are due to continued
liquidation Of foreign exchange held in
loans. There were indications that the
supply Of exchange thus held was ex-
hausted, but the events of this week would
indicate that the amount held and which
represented loans Of money In the foreign