Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1898-01-08
THE WEST A BANNER SECTION
LAST YEARS REVIEW OF TRADE
According. to the Report of the AIer-
camille Agencies the New Year Is
Full Of Promise to Business Men
-~WEeEt Exports.

~" VI N, cttIi. -DluuSLlCtto
Following a series Of years of alternate
panic, stagnation, and slow and even pain
ful revival, 1887 presented a large volume
of business, done as q whole at prices
which, while not altogether satisfactory.
resulted IN Il total of trade larger than in
any previous year since 1892 Tariff
changes restricted demand but encoura ged
speculation and heavy imports i'll the first
part OF 1897: while the enlarged foreign
demand for American breads1ulfs and for
some varieties of manufactured articles.
bcttered the condition of the American
talmer, and therefore. business men quite
materially in the latter part of the year
Price conditions have not favored the
southern producer Of cotton nor the north
ern manufacturer Of cotton goods. The
best reports come from the west, north
west and Pacific coast. Prices at the close
are as q whole on 4 higher range than at
the opening. advances being made nllmer-
ous in food products, raw silk and wool
while decreases are reported in raw cot
ton and cotton goods. nearly all metals.
anthracite coal and petroleum. Railroad
interests share III the revival of prosper
ity, with gross and net earnings larger
than any year since 1898, and the year
1898 opens With the business community,
with the few exceptions noted, in a cheer
full frame Of mind.
A heavy falling off in number and in
liabilities Of individuals. firms or corpora
tions failing was shown in 1897 from 1896
and the four preceding years The total
number OF failures reported to Bradstreet's
1or the year Just closed was 1909. a de-
crease Of 2o0O failures and over l3 per
cent from 1896 a falling off Of Is per cent
from the panic year of 1893, and a de-
crease OF more than ? per cent from 1891,
year Of prosperous business, but Of nu-
merous embarassments. Compared with
1898 there was a gain in the numbers
shown of about one-half of l per cent.
while compared with 1892 there was an
increase Of q per cent.
Liabilities Of those failing constituted
one Of the smallest totals Of recent years,
amounting to only $l56, 100000, a de-
crease Of 81 per cent from 1896, Of &C per
cent from 1898, and of 10 per cent from
1891, but a gain of A per cent over 1892.
The least favorable showing is made by
the western states, which report increases
in number and liabilities over 1896. In
spite Of depression in cotton prices, south
eln failures and liabilities are smaller than
year ago. While the greatest falling off
is ported in the west and northwest the
percentage Of assets to liabilities of those
failing in 1897 was 54.4 per cent, the
smallest percentage since 1893, and only
slightly above the normal. The CONNER
cial death 1ate-that is, the percentage of
those in business failing in 1897, was 2.
as compared with IL in 1896 and l.G i'll
1893.
Hank C:earings.
Those reliable Indications of the bust
ness situatiGn-bank clearings- point TO
the year 1897 as witnessing the heaviest
business, both speculative and commercial,
done since the record year, 1892, just
preceding the panic. The total clealngs
at jS cities for the year. one week estl-
mated, aggregated at least $56,926,OO 900.
a sum larger by II per cent than the total
Of 1896. wear OF silver agitation and an
exciting presidential election; per cent
larger than 1895, the disappointing year.
when boom in iron and kindred pro-
ducts led to false hopes of business i'm
provement: 25 per cent over the year 1894.
when the depth Of depression following the
panic may be said to have been reached:
5 per cent over 1898, the year Of wide
spread disaster in financial and CONNER
cial circles. and only per cent smaller
than the total Of 1892, when the boom
fol!owing the large foreign demand for
American breadstufIs and other products
reached its height.
Practically the entire gain in clearings
in 1897 was concentrated in the last SIX
months, and it is a 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 in the south and
southwest, at the latter Of which he trade
Improvement was rather later in arrlv-
ing.
The total exports Of wheat flour includ
ed as wheat) from both coasts OF the
United States and Canada amount to D.
495 600 bushels, or double those in this
week year ago. and 100000 bushels larg-
er than last week
Corn exports are slightly smaller, ag-
gregatng 4O96,00O bushels, against A.
$4,000 bushels last week, and 2742,oOO
bushels last year.
Business failures for the Dominion Of
Canada and Newfoundland for the calen-
dar year Of 1897 amounted to 1927, with
total liabilities Of $l3,2l9OOO, falling off
Of l3 per cent in number and Of 10 per
cent in liabilities from year ago.
Sugar Factory for Ogden.