Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-30
BUSINESS RECORD Of 1899
Year Has Been Most Prosperous Kncwn for .
Long Tine.
Failures Fewer Than Since 1883
Advance I'm All Lines but
Foodstuffs.

New York. Dec. PR. G. Dun & Co.'S
Weekly Review Of Trade will say in to.
morrow's issue: mo correct report Of
failures in 1899 can be made until the
year Is closed, A collapse Of specula-
ton in copper stocks has swelled the ag-
gregate at Boston alone over SlS,OOO,O0O
within few days. and might yet add to
the record. The failures thus far report
ed are fewer in number than in any
year since 1855, and smaller In amount
Of commercial liabilities than in any
year since 1881. The aggregate OF de-
faulted liabilities is sl2O, 10000 but
nearly two-thlrds OF the banking liza.
biliiies were added within a few days.
the aggregate reaching about $50, &c.,
900, though exact returns for a few re-
cent failures are not yet obtainable,
In no other years except 1881, with
defaulted liabilities OF SSl,l55,9S2, and
1850, with S65 552, coo, have failures been
as small since the agency commenced
quarterly returns, IN 1875. The aver
age Of liabilities per failure Is less than
$500, the smallest In any year Of the
twenty-five, gratifying evidence that
commercial liabilities are further re
moved than usual from the point Of
danger.
The week has been exciting only at
Boston. where the failures growing out
Of speculation and the efforts to re-
establish banks and firms suspended
have not given the week a holiday
character, Yet general business is
thoroughly safe and prosperous and
no important firms have failed, save
some which were individually connect
ed with concerns involved In sDecu-
latiOn.
The speculative troubles come be-
cause the volume OF legitimate business
and the unprecedented distribution OF
profits interest and dividends made
1t no longer possible to carry some
stocks on borrowed money, Prosperity
itself placed a check on speculative
ventures
Bradstreets review Of THE year In
business" tomorrow will say: Rarely
! have sanguine commercial and financial
hopes or predictions found such ade-
| quate realization as they did during
1893. Certainly nothing like the wide
| spread and general upward movement
| OF values, alike Of staples and OF se-
curities, such as occurred during the
| year. could have been foreseen. Linked
with an immense business and a record.
breaking production IN nearly all lines
OF business and industry, except, per-
| haps. IN some products OF the agrl-
| cultural interests. there was with 1t an
| advance OF staple values either OF
which alone would have made the year
| notable and combined 10 have served
! TO establish the year as a record
! breaker and set up new standards.
The volume OF domestic and OF foreign
| trade alike was the largest ever re-
! corded. and the bank clearings, re-
! flecting immense business expansion. ac-
| tive speculation IN stocks and immense
new industrial il0atings, far surpassed
| all previous records.
Prices, as result. primarily OF the
| stimulation proceeding from supply
| and demand conditions scored probably
| the greatest advance IN any single
! year and brought the general level Of
| staple values to the highest point
reached Tor more than eight years past
Failures satisfies point 20 the small
est number reported Tor seventeen
years nast. These results have come
20 PASS In the face OF considerably
lcssened falling OH In the yield Of cot
ton
THAT the advance In the price OF
staples has not been a fictitious ono ol
based upon arbitrary actions OF com.
binations Is evidenced by the fac
that a similar price movement ha'
been witnessed abroad the genera
level OF prices in England. for IN
stance, being higher on December LIST
this year, than for more than eigh
years past. The course OF values, too
has been In accordance with expecta
lions OF economists IN that the great
est relative rise has been In manufac
tured goods or IN products OF iadustr!
I not exclusively agricultural
"Breadstuffs alone of all the classe
Of staples. are actually lower now thar
they were a year ago the decline be
ing about per cent"