River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1898-01-06
BUSINESS CONDITIONS.
\ comprehensive Trade Review for
the Fast Year

New ork, Jan. 1.--BradstrCet' S saws; /
Holiday quiet and stock taking close a /
year which, while not fully realizing the I
most sanguiue expectations. certainly CON I
tained much that was gratifying ana more /
that Is full Of promise for the year 1Sos /
Following series Of years OF alternate 4
panic, staguation and slow and even pain +
ful revival, 1881 presented a large volume
Of business done, = Fbole at prices ,
which, While not altogether satisfactory, /
resulted in a total OF trade larger than ia
any previous year since 1892 Tariff changes
restricted demand but encouraged specu-
lation and heavy imports in the first part
Of 1851, while the enlarged foreign demand
for American brcadstufls ard for some
varieties Of manufactured articles bettered
the condition Of the American farmer, and
therefore, business men, quite materially. /.
in tho latter part of tho year
Price conditions hive nor favored the 4
southern producer Of cotton nor the north /
best reports come from the west, north
west and the Pacific coast. Prices at the
close are as whole on higher range than
a the opening. advances being most nu-
merous in food products raw silk and
wool while decreases are reported in raw
cotton and cotton goods, nearly all met
ais, anthracite coal and petroleum Rail (
road interests share IN the revival of pros
pcrity, with gross and net earnings larger
than any year since 1928. and the year 1895
opens WIN NilE DlGlBttSH @bfliAuhi44tS WIN 1
the few exceptions noted, in q very cheer
ful frame Of mind.
a heavy falling OF in number and in
liabilities of individuals, firms or corpora
tons falling was shown In 1897 from 1895
and the four preceding years. A partial re-
turn TO more or less normal conditions is
further indicated by a drop In the per-
centage of assets TO liabilities and by a
reduction in the commercial death rate as
compared with every year since and in
Guiding 1893. The total number Of failures
reported to Bradstrcet's for the year just
closed was 1909, decrease Of 1000 failures
and over 10 per cent, from 1896 falling
off OF Is per cent. from the panic year of
1898 and a decrease Of more than two per
cent from 1921, a year of prosperous bust
ness but of numerous business embarraSs-
meuts. Compared with 1895 there was gain
In the number Of failures shown Of about
half Of one per cent. while compared with
1892 there was an increase of p per cent
Liabilities Of those failing constituted one
OF the smallest totals of recent years
amounting to only $l55, ie6, 090, a decrease Of
81 per cent. from 1896, Of 80 per cent. from
1898 and Of 10 per cent from 1891, but gain
uf 47 per cent over 1892.
THE least favorable showing is made by
the eastern states, which report increases 1
in number and liabilities over 1896, In spite
of depression in cotton prices, southern
failures and liabilities are smaller than
year ago, while the greatest falling of is
reported IN the west and the northwest
The percentage OF assets TO liabilities Of
those failing IN 1897 was 5f4 per cent, the
smallest percentage since 1893, ana only
slightly above the normal The CONNER
cial death rate-that u.s. the percentage Of
those I'm business failug-in 1891 was 10,
as compared With Lac in lSg6 and l,Ja In 1898
Those reliable n1icts Of the business sit
uatiou--bank Hrirgs-point 20 the year
1891 as Witnessing the heaviest business,
both speculative and commercial, done
since the record year. 1892, just preceding
the panic The total clearings at So cities
for the year, one week estimated, aggre-
gated at least $685. g2G, d0000, a sum larger
Ivy 12 per cent than the total of 1896, year
of silver agitation and an exciting presi-
Dental election; eight per cent. larger than
1895 the disappointing year, when boom
in iron ana kindred products led to false
homes of business improvements; 2J per
cent over the year 1894 when the depth Of
depression following The panic may be said
90 have been reached; five per cent over
1862 tha yam 81 widespread disaster ~
financial and commercial circles. and only
seven per cent smaller than the total Of
1892 when the boom following the large
foreign demand for American breadstufts
and other products reached its height.
Practically tho entire gain in Clcarings in
1897 was concentrated in the last six
months and 1t is q significant fact that the
heaviest monthly total reported for five
years past was reported In the month OF
December Gains were heaviest In the
northwest the middle and New England
states and smallest i'm the south and north
west. at the latter Of which the trade i'm
proFement was rather later IN arriving