The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-01
FAILURES LAST YEAR.
many Year Since $50. Ncw Year
COnf tfons of Trade.

COnd tions 0rTrRue.
New York, Dec 31.--R. G. Dun & Co.'S
weekly review OF trade will say in lis
issue Tomorrow:
Fiiurcs for the year which closed
last night have been smaller In total
liabilities than In any other year since
lS92 i'll number smaller than In any
year except In 1896 and in average la
biiities per failure smaller than in any
year during the last twenty-three, cX-
ceIt four. The aggregate of all fall
ures, commercial and banking, was
S1So6oo.000, of which S25,S00,0 900 was In
banking. In 1890 commercial failures
the amount OF liabilities wls Sl5i,800,-
600. OF which $4,000 900 was in manu-
featuring and $75Io0.O00 In tradng,with
N2,l0O.090 in brokerage and other COM
mercial lines. The average OF llabili-
lies per failure was only s11 $50. and In
1892 only l1,025, bu, only three years in
the past twenty three were rivals-1SSS,
Win Sli, ,539; 1856, with S11, 1861, and 1885,
with SlI.07G.
y new year opens with conditions
radically different from those which
prevailed year ago. Great financial
d'strust existed then, but has passed
away. After whole year Of entire
lrecdom from disturbance or alarm, in
which the country has paid heavy for
clgn indebtedness taken and paid many
nations Tor stocks sent from abroad,
and accumulated credits against other
countries represented by merchandise
balances more than $500, 600 600 in its
favor for the past five months, with
deferred exchanges for more than S2O,-
O0O.000 held by New York banks alone,
while the great industries have been
pushing their way into foreign mar
kets with unprecedented success, the
lnontlary situation is no logger Il mat
ter OF anxiety. More thun half n mil
lion men In 4 few States, according to
official reports. are employed now who
were idle year ago. and the general
advance in wages for those employed,
has gone far 10 restore the rates pre-
Tiiling before the panic The volume
of business through clearing houses, for
the week li.2 per cent. larger than in
l?2, has for thc month been 10 per cent.
larger than that year, and in many in
dushHes and branches of business the
later months OF this year have sur
passed all records.
The iron industry has been greatly
encouraged by Increased dcmaisl dur
Ing the past few weeks, and while the
slight Improvement in pig iron at Pitts
hurg has been naintalned. notwlth-
standing the greatest output ever
known. the new contracts for finished
products have been unusual for the sea-
son. Minor metals have been rather
weak. with tin at 1876 cents, and copper
at 1887 In spite of large exports, while
lead is quoted at 3.72iA cents, ana spell
ter at $50. The best Bcsscmcr full
weight lin plates are selling at $685.
against Si.l0 for foreign No change In
prices of coke appears, though the ship
m"nts were the largest for any week
this year.
The cc'.ton industry is halted by the
question OF wages. although a general
reduction now seems probable. The
manufacturers have been buying large
ly of material for worsted goods and
their purchases have stimulated buying
BY wool manufacturers, 50 that the
wool markets are stronger. though
without changes in quotations.
After n great excitement at Chicago
wheat sill goes out of the country az
largely as before. Atlantic ports 3,57o, :
ISS bushels. -four included, against
l,5i2.6i0 last year, and from Pacific
ports i.7i2,G25 bushels, and in four
weeks Tho Atlantic exports. -four in
cluded have been 15,O60,Oi7 bushels,
against $500. l61 last year. Heavy West
crn receipts are only rcfecting tenn
porary conditions in the Chicago mar
kct. But extraordinary exports of corn,
lfi'ui,?oo DnSHelS, against 9,aii,S03 buSh-
ers in the four weeks last year, shows
how sorely foreign markets are pushed
by the increasing demand for bread
stuffS. Wheat has declined &c. at the
Chicago market. and corn has mean
time advanced &c
Th" cotton movement continues re-
nrarkahly heavy, and yet the slight
advance last week is maintained The
movement to date although more than
7.00o.0G0 bales have come into light,
scarcely supports the largest current
estimates.
Failures for the week have been 395
IN the United States against 439 last
year. and 2l in Canada against 30 last
year.