The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-08
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QUIET CONFIDENCE.
Pervading Tone In Nearly All
Branches of Business.

NEW YORK. Jan. 7-Bradstreet's
tomorrow will say: The year opens
with tone of quiet, confidence per-
vading nearly all branches of business,
with encouraging activity in the iron
trade, a resumption of work by many
thousands Of industrial employees in
the Western glass industry. a largely
reduced volume of business failures, as
compared with corresponding periods in
preceding years and a general outlook
certainly not inferior to any previous
year at this time. Distributive trade
has naturally been ratheruslow, pending
stock taking and the RETURN of sales
men to the field. While the volume of
distributive business is no larger, in
dGstrial activity is a special feature
unconfined to any one section, but es-
pecially notable In the West. Resump-
ton of work after sthe1oholidays has
been generally encouraging in that sec
ticn. Autumn weather iii the North
west checks distribution, But collections
are reported good.
Sales of Southern iron are large
Louisiana sugar crop returns have been
very satisfactory. Nine-tenths of Flo
rida's orange crop was gathered before
the late freeze, and5 cotton Is steady
and in good export demand. Wool has
opened w actively in some Eastern
markets and lower prices for cotton
SUplS nave SlIi1EuldIeQ some demand.
Naturally enough there was a slight
gain in the number Of failures reported
this week over last. the total aggregat-
ing 1913 against 297 last week, but a
heavy falling off from 1897, when the
total was 48S. The total in this week
OF 1896 was AS; in 1895, 405, and in 1894,
484, thus showing a falling off from this
week in recent preceding years of from
one-quarter to one-thrd. Bank fail
ures in 1897 followed the general ten
dency of business mortality in all other
lines of business. The reputation of
the banking community for ConserVa-
tivism, however. is borne out by the
relatively heavier, falling off in the
number of failures and the reduced vol
ume Of liabilities of banks and trust
companies, as compared with preced-
ing years, than in ordinary commercial
circles. The total number of failures
of national, state, savings and private
banks and loan and trust companies in
1897 was 105, little more than half of
those Of 1896, or less than one-fifth OF
those of the panic year, 1888. Liabili-
ties also showed a heavy falling off,
being 60 per cent smaller than in 1896,
and 80 per cent smaller than 1893. The
number and liabilities, however, were
slightly larger than 1894. The per
centage Of assets to liabilities in 1897
was only .76, the smallest reported
pensions was begun. There were 48
business failures in the Dominion of
Canada this week, against % last week
and 65 in this weekIEa year ago.
The holidays have exercised their ex-
pected effect on export trade in leading
cereals. Wheat exports from the
United States and Canada for the first
week in January amount to 3,481, SIG
bushels against 5,495,OOO sbushels last
week, 3.381,000 bushels ina this week a
year ago and 3.471.0eO bushels in the
corresponding week in 1896. Corn ex-
ports show a sepsibleo diminution,
amounting to 4,088,009 bushels last week,
4,S19,000 bushels in .this week a year
ago. and 2,626,0OO bushels, in the cor
responding week Of 1896.