The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-01

painful revival, 1897 presented a large
volume of business. done as whole at
prices which, while not altogether sat
isfactory, resulted in a total of trade
larger than in any previous year since
1892. Tariff changes restricted demand.
but encouraged speculation and heavy
imports in the first part of 1897. while
the enlarged foreign demand for Amer
lean breadstuffs and for some varie-
ties of manufactured articles bettered
the condition of the American farmer,
and, therefore, business men quite ma
terially in the latter part of the year.
Price conditions have not favored the
southern producer of cotton, nor the
northern manufacturer of cotton goods.
WESTERN REPORTS.
The best reports come from the west,
northwest and Pacific coast. Prices at
the close are, as whole, on higher
range than at the opening. advances
being made numerous in food products,
raw silk and wool, while decreases are
reported in raw cotton and cotton
SOds. nearly all metals, anthracite
coal and petroleum. Railroad interests
share in the revival of prosperity. 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 very cheer
full frame of mind.
A heavy falling off in number and in
liabilities of individuals, firms or cor
porations failing was shown in 1897
from 1896. and the four preceding years.
y partial return to more or less nor
NAL conditions is further indicated by
drop in the percentage of assets to
liabilities, and by a reduction in the
commercial death rate as compared
with every year since and including
1898. The total number of failures re-
ported to Bradstreet's for the year just
closed was 13.099 a decrease of 1000
failures, and over - per cent from 1896;
falling off of Is per &c . from the
panic year of 1893, and u decrease of
more than per cent from 1891, year
of prosperous business, but of numer-
Gus business embarrassments.
1895 COMPARISON.
Compared with 1895, there was gain
in the numbers 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 $156, $4,000
decrease of 81 per cent from 1886; of so
per cent from 1898, and of 10 per cent
from 1891, but a gain of AZ per cent
over 1892 The least favorable showing
report increases in number and labiii-
ties over 1886. In spite of depression
in cotton prices, southern failures and
liabilities are smaller than year ago,
while the greatest falling off is report
ed in the west and northwest The per-
ceutage 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 COM
nercial death rate. that is, the per
centage Of those in business falling in
1897 was 1.20. as compared with LAO in
1896, and 1.50 in 1898.
RELIABLE INDICES.
Those reliable induces of the business
situation-bank clearings-point TO the
year 1897 as witnessing the heaviest
business, both speculative and CONNER
cia1, done since the record year, 1892,
just preceding the panic. The total
clearings at IS cities for the year, one
week estimated aggregated at least
$50, 1926, 000.0 900, a sum larger by u per
cent than the total of 1886, a year of sill
yer agitation and an exciting presiden-
tial election; per cent larger than
1895, the disappointing year. when a
boom in iron and kindred products led
TO false hopes of business improve
ment: q per cent over the year 1894,
when the depth of depression following
reached: 5 per cent over 1898. the year
of widespread disaster in financial and
commercial circles, and only per cent
smaller than the total of 1892, when the
boom following the large foreign de-
mand for American breadstuffs and
other products reached its height.
Practically the entire gain in clear
ings in 1897 was concentrated in the
last six months, and it is q significant
fact that the heaviest monthly total re-
ported for FIVE years past was reported
in the month of December. Gains were
heaviest II the northwest. the middle
and New England states, and smallest
in the south and southwest, at the lat
ter Of which the trade improvement
Y. as rather later in arriving.
Business failures for the Dominion of
Canada and Newfoundland for the !
calendar year 1897 amounted to 1927, /
with total liabilities of S13 PIG .000 a
falling off of 13 per cent in number, and /
Of 10 per cent in liabilities from year
ago.