Omaha daily bee., 1898-01-01
DRADsTREETs REVIEW OF TRADE.
BEST Reports from the West and
Northwest.
NEW YORK, Dec. 31.-Bradstreet's tomor-

row Will say.
Holiday quiet and stock taking close a
year which, while not fully realizing the
most sanguine expectations, certainly con-
taneGl much that was gratifying and more
FclldNing a series of years of alternate
panic, stagnation and slow and even pair
f4l s revival 1897 presented Cd large volume lnl
while not altogether satisfactory, resulted
in total of trade larger than in any pre-
vious year since 1892
Tariff changes restricted demand, but en-
couragcd speculation. and heavy imports in
the. first part of 1897, while the enlarged
and for some varieties of manufactured
articles bettered the condition OF the Amer
lean farmer 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,
northwest and the Pacific coast. Prices at
the close are as aiwhole on higher range
numerous in food products, raw silk and
iHool, while decreases are reported in raw
cotton and cotton goods, nearly all metals,
anthracite coal and petroleum,
Railroad interests share in the revival of
prosperity. with gross and net earnings
larger @ than in any year since 1898, and the
munty, with the few exceptions noted, in
very cheerful frame of mind
bilities of individuals, firms on corporations
falling, was shown in 1897 from 1886 and the
four preceding years A partial return to
moro or less normal conditions Is further
Indicated by drop in the percentage of
assets to liabilities and by reduction in
the commercial death rate as compared
with every year since and including 1923.
The total number of failures reported to
Bradstreets for the year just closed was
1859, a decrease of 1909 for the year and
Is per cent from 1891 year of prosperous
business, but of numerous business embar-
easements. Compared with 1895 there was
failures u
about half of / per cent, while compared
with 1859 there was AN increase of q per
cent Liabilities of these falling constituted
one Cf the smallest totals of recent years,
amounting to only sl56, 5000 decrease of
81 per cent from 1896 of 60 per cent from
gain of Al per cent over 1892. The least
favorable showing is made by the eastern
states, which report increases in number
sion In cotton prices, southern failures and
liabilities are smalleg than q year ago;
in the west and the northwest. The per-
centage of assets to- liabilities of those fail
ing In lsS1 was was 5ft 1 per cent, the smallest ma
above the normal. The commercial death
rate, that IL the pei5G7enIage pi7 OF OF those in
psTed With fais 70 in !" Yig 70 in 1893 Ss com
Those reliable indications Of the business
situation-bank c!eaFinss--point to the. year
both speculative ard eseFmerciai. done since
the record year 1892, just preceding the
panic. The total cleaungs at fifty-eight
cities for the year. one 'Aeek estimated, ag-
gregated at least s5G,e26 COO. a. sum larger
by II per cent than the total Of 1896, year
of silver agitation and an exciting pres
idertial election; s per cent larger than
1885, the disappointing year, when a boom
in iroa and kindred products led to false
over the year 1884, When the depth of de-
preston following the panic may be said
to have been reached; per cent over 1893,
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 demand