The Wichita daily eagle., 1898-01-01
BIG WITH PROMISE
For THE YFAR. TO COME BAs
BEEN TIE YEAR THAT Is GONE.


- Hank Clearings With Those Indexes of
Business Prosperity or Adversely of Pre-
v'o1s Years are Very FlatterIne Indeed
Contrast Between This Years Busi.
ness Opening and Last Years,
New York. Dec. s1.-Bradstreets to-
morrow viii say:
Holiday quiet and stock-taking close a
year which. while not fully realizing the
most sanguine expectations, certainly
contained much that was gratifying and
more that is full OF promise for the year
1898. Following series Of years OF al
sernate panic, stagnation and slow and
even painful revival, 1897 presented a
large volume Of business done as whole
Rt prices which, while not altogether
satisfactory, resulted in q 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 bread
stuffs and for some varieties of manu-
iactured articles bettered the condition
CT the American goods. Price conditions
have not favored the southern producer
Of cotton nor the northern manufacturer
Of cotton goods. The best reports come
from the west, northwest and Pacific
coast. Prices at the close are. as a whole
on higher range than at the opening,
advances being most numerous in food
products, raw silk and wool, while de-
creases are reported In raw cotton and
cotton goods, nearly all metals, anthra-
cite coal and petroleum. Railroad inter
ests share in the revival Of prosperity,
with gross and net earnings larger than
any year since 1893, and the year 1898
opens with the business community, with
a few exceptions noted, in very cheer
ful frame of mind.
A heavy falling OFF in number and in
liabilities Of individuals, firms or corpor-
atoms failing was shown in 1897 from 1896
and the four preceding years. A return
to more or less normal condition is fur
ther Indicated by drop in the percent
age of assets 70 Liabilities, ard by a re-
duction in the commercial death rate as
compared with every year since and in
cluding 1888. The total number Of fail
ures reported 20 Bradstreet's for the year
just closed was 1908, decrease Of 2400
failures and over Ia per cent from 1896, a
falling off Of 16 per cent from the panic
year OF 1893. and decrease of more than
per cent from the year of 1891, the
year Of prosperous business, but Of nu-
merous business embarrasments. Com
pared with 1895. there was a gain the
F,1l FoJl LAff
OF about half OF 1 per cent, while COM
pared with 1892 there was an increase
OF q per cent Liabilities Of those fail
ing constituted one OF the smallest totals
of recent years, amounting TO only $780,
166, 900, a decrease of 81 per cent from
1896, OF so per cent from 1893, and of 19
per cent from 1891, but a gain of 81 per
cent over 1892. The least favorable show
ing is made by eastern states, which re-
port Increases in number and liabilities
over 1896. In spite of depression in cot |
ton prices, southern failures and liabili- /
ties are smaller than a year ago, while /
the greatest failing off is reported in the
west and the northwest. The percentage !
OF assets 10 liabilities of those failing in
1897 was 546 per cent, the smallest per-
centage since 1893 and only Slightly
above the normal. The commercial death /
rate, that is, the percentage of those in /
business falling in 1897, was 1.2O, as
compared with lao in 1896 and 1.50 in |
1898.
Those reliab bic indices of the business (
situation-bank clearings- point 10 the |
year 1897 as witnessing the heaviest
business, both speculative and CONNER
cfal, done since the record year 1892, just
prece eding the panic. The total clearings
at So cieies for the year. one week esti-
mated, aggregated at least 1926, 900, 900,
a sum larger by II per cent than the TO-
tai OF 1896, year of silver agitation and
an exciting period.
Practically the entire gain in clearngs
In 1897 was concentra ted in the last six
months, and it is a significant fact that
the heaviest monthly total reported for
five years past was in the month OF De-
cember Gains were heaviest in the
northwest, the middle and New England
states, and smallest in the south and the
southwest, at the later Of which rade I'M
provemen was rather late in arriving.
The total exports of wheat Ciour in
cluded as wheat) from both coasts OF the
United States an dCanada amount 70
{. .4e5. 900 bushels. or double those in this
week a year ago. and 100000 bushels
larger than last week. Corn exports are
slightly smaller, aggregating 4,OS6,OOO
bus hels. against 4,S79,OO0 bushels last
week, and 2,742, 900 bushels last year.
Business failures for the Dominion OF
Canada and Newfoundland for the cal
erdar wear 1897 amounted 10 1927, with
total liabilities of SIS. S.21s.Ooo. falling off
ps IS Per cent in number and of ls per
cent in liabilities from a year ago.
DUN'S REVIEW.
New York. Dec. 31.-R. C. Dun & Co.'S
Review of Trade tomorrow will
say:
Failures for the year which closed last
ni-h; have been smaller than in any
,.oer wear since 1892. in number smaller
-han in any rear except in 1885, and in
verage nabrlities per failure smaller
thar in any other year during the iase /:
twenty-three, except four. The aggre-
,9te of su failures, commercial ana
,anking. was $50, 500. 900. of which VS. .
100, 600 was in banking.
In 1880 commercial failures the
mount of liabilities was sl54.SoOoOc' OF
which $50 o05, 600 was in manufacturing
,nd s13. ZOO. COO in trading, with Sl2'loe'-
100 in brokerage and other commercial
ines.
The average liabilities per failure was
,nlv s55.5s9 ana in 1892 only s11,OS9. but
,rlv three years in the past twenty i.
o-- 1893 with S11 5o5- 1856 with |