The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-30

Condition of Finances.
Taking bank clearinss as an index.
the outlook at present favors a total
at the country's clearing houses max
ing comparison with previous years. OF
AZ per cent over 1887 and OF 81 per cent
over 1892, while, as compared with 1894.
the volume CT clearings has practically
doubled Active stock speculation and
immense industrial fioatings. but above
all. enormous trade and Industrial ac-
tivity, naturally swelled the volume OF
clearinsS in the middle states, but the
gains in the New England group in
Guiding Boston, where coDDer-share
speculation was extensive, and where
are the great manufacturing centerS,
were also considerable.
The largest monthly clearingS up TO
December were reported in March,
while outside of the metropolis the
heaviest totals were shown as late as
October The furry in money late in
December swelled the weekly bank
clearings to an unprecedented sum.
making possible an exceptionally heavy
December aggregate.
Decreases from 1855 at individual cit
les were few, and due mainly TO
changes in methods urrconnected with
the generally large business doing. As
compared with 1894. every city in the
country naturally reports larger clear
ings, but it is worth noting that thir-
teen cities in all show decreases from
the year 1892, which still remains at
those cities a year CT unequaled trade
The railroads Of the country have done
the heaviest business in their history,
proved by the gains in gross and net
receipts over all previous records
Heavy Railroad Building.
That the transportation interests are
determined to share still further in the
unexampled volume of tonnage offering
is proved by the general advance in
rates scheduled for Jan. 1, 1900. Rail-
road building, though mostly OF
branches and feeders, was the heaviest
reported since 1890. and was double the
average of the preceding four years
and so per cent larger than in 1898.
The record of embarrassments has
been of a steadily diminishing scale as
regards number. and even in liabilities
the years record is an exceptional one,
and were it not for few large fall
ures in the last two months OF the year,
that period as a whole would have
been fairly entitled to the appellation
of phenomenal.
Though the years record is not as
yet complete and the returns as to as
sets and liabilities are still more or
less vague, it may be stated that the
total number of failures based upon
CODlPlClC IGluIUS lOI citNcH
and partial returns for December will
be in the neighborhood of s. $50. certain
ly little in excess of that number. a
total smaller than in the preceding year
by II per cent, 20 per cent fewer than
in 1897, sc per cent lower than in 1896,
% per cent smaller than in 1895 or 1894.
and 40 per cent less than in 1898, the
year of panic memory.
Decrease in Failures.
As compared with 1882. there is even
shown a decrease of per cent, and the
number of failing traders, firms or
corporations is in fact the highest since
1882, seventeen years ago. As regards
liabilities. while the showing is not so
good as expected. there is a reasonable
hope of the aggregate not being much
in excess of $4,000. 900, which would
be Is per cent less than in 1898. % per
cent smaller than in 1897, 81 per cent
less than in 1896. 20 per cent smaller
than in the panic year 1898, and only
Ii per cent more than in 1892, a year Of
exceptionally good trade.
The return of normal conditions is in
Dictated by the percentage of assets,
which may aggregate SCI, 900 900. la
bilities being only SIG as against 90
per cent last year, 54.3 per cent in 1897.
500 per cent in 1886, So per cent in 1898
and so per cent in 1892. The percent
oSc VI tlOSC 1dliihSs ia ONoAICSo, w.
VIII show a marked ShrInkage and viii
be among the lowest ever reported, the
probabilities favoring a percentage of
.00S5 this year, against .016 per cent last
year, .0120 in 1897. .0170 in 1898. and
.0100 per cent in 1892. the smallest per-
centage. in fact. since 1882.
That the Improvement in business
has made itself felt at last in all parts
of the country, is indicated by the
southern and Pacific states groups
showing the largest decrease in fall
ures from a year ago. fully oEe-third
in each case. The business community
looks forward to 1900 with at least
equally mixed feelings Of hope and con-
fidence.