The Topeka state journal., 1899-12-30

agricultural Breadstuffs, alone OF ali
the classes of staples, are actually lower
than they were a year ago. the decline
being about six per cent on the other
hand the manufactured or partly man
ufactured products such as metals, raw
and manufactured textiles building
materials, coal and naval stores have
scored remarkable gains. Metals as a
whole are fifty per cent higher than a
year ago, due largely, of course to the
upward rush of iron and steel prices,
which have all practically doubled N
value within the year Raw cotton and
wool have made especially noteworthy
advances and from being among the
most depressed Of industries, the textile
manufacturing trades have become
among the busiest there is a record Of
Other textiles have shared in this ad-
vance and the result is that textiles as
a class are one-third higher than a
year ago.
Coal and coke have shared IN the
wonderful development Of the year, with
a rise equal to that in textiles, and
building materials, too, have made
equal gains, owing mainly TO the mark
ed advance in lumber. Naval stores
show gain of nearly One-third In price.
hides and leather are one-fOurth higher.
live stock, dried fruits and oils are one
eighth higher and provisions. chemicals
and miscellaneous products nave al
advanced.
Taking bank clearfngs as an index.
the outlook at present favOrs a total at
the country's clearing house, making
g
per cent over 1897, and Of 81 per cent
over 1892, while as compared with 1894.
the volume of clearings has practically
doubled. Active stock speculation and
immense industrial foatings but above
all enormous trade and Industrial ac-
tivity, naturally sWelled the volume OF
clearings in the middle states. but the
| gains in the New England group. in
Guiding Boston, where copper share
speculation was extensive and where
the great manufacture centers were
orc 10 la
clearings up to December were reported
in March, while outside of the metr0po-
lis the heaviest totals were shown as
late as October The furry IN money
lated in December swelled the weekly
bank clearings to an unprecedented sum
| making possible an exceptionally heavy
December aggregate. Decreases from
1898 at individual cities were few and
due mainly to changes in methods un-
connected with the generally large bust
ness doing. AS compared with 1894 eV-
cry city in the country naturally re-
ports larger clearings. but it IS worth
noting that 13 cities in all snow de-
creases from the year 1892. which Still
remains at those cities a year OF IN
equal1ed trade. The railways OF the
country have done the heaviest business
in their history, proved by the gains IN
gross and net receipts over All pre-
Vious records.
That the transportation interests ara
determined to share still further II the
unexampled volume of tonnage Offering
rates scheduled for January / 1900
Railway building, though mostly OF
branches and feeders. was the heaviest
reported since 1890, was double t1s
average of the preceding four years
and fifty per cent larger than in 1855
The record Of embarrassuseuts has
been Of a steadily diminishing scale az
regards number and even in liabilities
the years record is an exceptional one.
and were 1t not for a few large failures
in the last two months Of the year. that
cent. a whole. would have been
fairly entitled to the appelIation OF
phenomenal Though the years rec
ord is not as yet complete and the re-
turns as to assets and liabilities are
still more or less vague, Il may be sta
ted that the total number Of failures.
based upon complete returns for eleven
months and partial returns for De
cember, viii be in the neiEhborhood OF
$3.50, certainly little in excess OF that
number,a q total smaller than in the pre-
cedlng year by IL per cent 26 per cent
fewer than in 1897. 35 per cent lower
than in 1896, 25 per cent smaller than in
1895 or 1884, and 40 per cent less than
in 1893, the year of panic memory As
compared with 1892 there is even shown
a decrease Of 6 per ceht and me number
Of failing traders, firms or corporations
IS IN Gact the nghtest since lsszs Il
years ago. AS regards liabilities. while
the showing is not 50 good az expected.
there is a reasonable hope Of the aggrs-
gate not being much in excess Of S120s-
100000, which would be i per cent less
than in 1888, % per cent smaller than in
1897, 81 per cent less than IN 1895, 10 per
cent smaller than IN the panic year.
1893, and only II per cent more than IN
1892, a year of exceptionally good trade
The return OF normal conditions is in
dicated by the per ceDtage OF assets
which may aggregate $50, ,00o. 600 to la
bilities, being only 516 as against 3
per cent last year, 54-4 per cent in 1887.
59 g per cent in 1886. IS per cent IN 1853
and so per cent in 1892. The per centage
of those failing to those in business too.
viii show a marked shrtnkage ana win
be among the lowest ever reported the
probabilities favoring a per ceutage or
.00S5 this year against .016 per cent last
year, .120 in 1897, .o17O in 1893. and .0Ia0
per cent in 1892 the smallest per cent
age in fact since 1882 That the i'm
provement in business had made itself
felt at last in all parts OF the country
is indicated by the southern and Pacific
states groups showing the largest de-
creases in failures from a year ago.
fully one-third in each case The bus
mess community looks forward 70 1900
with at least equally mixed feelings OF
hope and con6dence