Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-10-06
YEARS FAILURES
Are Less Than Those of
Previous Years.
THE BUSINESS SHOWING
Is a Good One as Representative OF
Existing C0nditiOnS--TOtal Number
of Failures in This Country and
Canada--The Liabilities.

to continued trade improvement, and to
a still ebbing tide of business mortality.
Failures reported from the first and Sec
ond quarters of the year left little to be
desired, showing as they did fewer fail
ures than in any but the most favored
years. Returns by months showed fail
ures and liabilities in June only about
half what they were in January, indi-
eating that failures were well down to
the minimum possible when the friction
in ordinary business life was considered.
The present report of business failures
is even better han any that has gone
before it in recent years and the third
quarter of the year 1899, appropriately
enough, shows the fewest failures. the
smallest liabilities and the smallest pro-
portion of assets to liabilities Of which
there is any recent record.
AS indicative Of this good showing be-
ing representative OF existing conditions.
it is to be remarked that failures and
liabilities alike found their minimum this
year showing that The month just closed
comes near to, if not actually, possess
ing the record of the smallest business
embarrassment and liabilities. There
were only 2.O26 failures. involving $15.-
$50, 965 in liabilities and Sc, $40, 2S6 in as
sets in the third quarter of 1899, a de-
crease of Is per cent in number and OF
4S per cent in liabilities from the same
quarter of last year, which, it is neces-
sary to add. was a good one for business
generally.
Compared with the second quarter of
1899, liabilities are 10 per cent smaller and
compared with the first three months OF
this year liabilities are less than half an
heavy. This tendency is practically
universal, though a slight increase IN
number n liabilities of failures in the
west over those in the second quarter Is
noticeable. Against this however. it is
to be recalled that comparisons with q
year in the west and northwest Were
highly favorable.
Perhaps the most satisfactory showing
Of all is that made by the southern
states, which have at last apparently be-
gun to share in the prosperity earlier
noted in other sections Of the country.
Conformation Of reports from time to
time of improving southern trade condi-
tons, partly. of course, the result OF bet
ter cotton prices, is found in current fall
ure returns. Growth in population and.
consequently in the number Of traders
is, apparently. mainly responsible for the
increased number of failures throughout
the territories.
The total number of failures for TIE
nine months was only 7,O75, a falling on
Of 20 per cent from 1896, which year held
the record for the most numerous nine
months failures, exceeding even the
panic year. 1893. AS regards liabilities
the total for the period under review
S65, $50, 21S-iS 50 per cent smaller than
it was last year, As per cent smaller than
in 1897, 81 per cent smaller than in 1896,
80 per cent smaller than in 1893, the panic
year, IA per cent smaller than in 1899
md in fact ia the smallest 2UOreC1fo ~
liabilities for the period mentioned that
there is any record Of. Assets shoW
even greater ~shrinkage, being "A per cent
less thar last year. less than half what
they were in 1897. 1895 or in 1894, only
| one-third Of those of 1886 and only one
seventh of what they were in 1893. 1t
is not strange therefore to find that the
percentage OF assets to liabilities is only
A per cent this year, against 81 last
year, IS in 1897. IS in 1896 and 70 in 1893.
Detailed reports show that in only one
group, that Of the territories, is there an
increase showni in the number of failures
as compared with nine months Of last
year and the growth Of the section tn
.volved rather than the presence OF I'M
favorable conditions is probably respons-
ible for the increase which has. indeed.
run through every quarter Of the year.
This view is also confirmed by the rela-
lively trihing gain in liabilities showss.
AS regards the latter particular. it might
be said that. with the slight exception
noted in the case OF the territories, the
liabilities OF every other group of states
have decreased. the heaviest falling oft
being in the middle states group. the liza.
! bilities in which are less han half wha,
they were a year ago. Decreases in the
west and in the eastern states are also
notable. Further west the decreases in
liabilities are less notable. partly be-
cause of comparisons being made with
Exceptionally favorable conditions a year
ago and partly. also, because the growth
of those sections in population and.
therefore,. in the number Of traders. IA
vors increases rather han decreases in
, liabilities, other conditions being equal.
One of the best showings made by any
state is that noted in Pennsylvania,
| where the liabilities show a decrease oil
s. per cent from a year ago. The droE
in New York is over so per cent. Amond
large states making favorable COMPARE
sons might be mentioned Massachusetts
in which the liabilities are Is per cent
smaller: Ohio. in which they are nearly
60 per cent less. and Illinois. in which
they are 30 per cent smaller. Missouri
Iowa. Michigan and Georgia also SHOW
largely reduced liabilities. A notable
exception to the much better showing
tgenerally reported by the southern states
is furnished by Mississippi and Louisi.
ANA, in which considerable gains in liza.