Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1902-01-02

The annual review OF American trade,
finance and industry prepared by Brad
streets, and given publicity today, de-
clared 1901 to be a record breaker"
among the five succeeding years OF COM
mercial expansion njoyed BY the
United States. Speaking of bank cleai-
Ings. the report says;
From the standpoint OF present esti-
mates. olearings this year will exceed
the highest records OF preceding years
by one-fourth. Gross railway earnings
have increased ~ per cent, and net
returns have gained 10 Per cent over the
best preceding year. Pig iron pro-
ducticn will be not far from one seventh
larger than the heaviest ever before
recorded. Shoe production and ship
ments, and, therefore. presumably,
leather production, show almost as
large a gain. Iron ore production and
shipmenta were never before equaled ;
certainly lake shipme nts weru never so
large Anthracite ocal production will
he fully 10 per cent larger than last
year, and . por cent heavier than the
record. The hituminous production
promises as heavy a gain over past
rec, rds. Woolen manufacturing has
been helped by the low cost of material
and coed demand for clothing. All the
returns are not so favorable. There has
Eeen less money in cotton for the South
this year, and the margin of profit in
manufacture has oocasioned complaint
there and in New aud Old England.
The agricultural interest has been
favored by heavy advances in farm
products, which have done much to
counterbalRnce reductions in yield. Ex-
port trade has shown signs OF hes!ta-
ton aftor years OF steady advance and
imports have increased. but ma MY in
maCeria intended for domestic manu-
faotGre, and the margin In favor Of ex'
ports is still enormously heavy.
1t may be argued that stock and other
speculation had an important effect 10
swelling Tank olenrirgs to the enorm us
figures they reached, and this view is
barne out alike by the size of the gnir
SD Gown in New York S c!earings, which
far exceeded any other city g, ard by
the large proportion -.6S per cent
which that city tota bears to that Of
| the country at large. The aggregate al
eighty six cities for the year will easily
reach Sis, 600, 900, 600, a gain OF 3S pei
cent ever last year aud OF 70 rer CT n
over the hithertu record total OF 1899.
New York City's total will be not fai
from ESQ, CO., 200, 600, a gain OF % pei
cent over last year, and OF 81 Ter CEN
over 1888. On the other hand, the tUta
clearirgs at eighty five cities uutsid,
of New York will exceed those of 190t
by 1861 per cent, and are by this pro
mort on, one sixth the largest ever re
corded That this increase was no
confined to any one section Is shown by
' - In
all parts OF the country, the MIDI,
States showing the greatest increase
hut even the Southern States show
gains oser the exceptionally fsvorabl,
year 1902, despite the fact that cotton il
e.iifth lower 10 price and that thu
YIELD il very generally thought to be nj
larger than / st year, while some est
mates, notably that of the government
point to crop much below that mad
q year ago. An additionally notahl,
feature 10 that only six cities out o
eighty nins, comparing with year ago
show decreases, three Of these being a
| the South.
The failures for the year were PLACED
at 10, TIA, with aggregate liabilities o
| $3.50, 0OO, 900, and assets of $50, 200, 900
AS to this showing, the reviewer said
This ia a gain Of 6. per cent In mum
Der over 1900, and of nearly Il per cen
over 1899, but hack of that year com
parsons favor the current one. Lisbili
ties have not gained relatively 81
heavily as shown ty the fact that the.
arc only 81 per cent larger this yea
than last, and Sc per cent larger thai
in 1899. In only three OF the pas
thirteen years, in fact, were liabilitie
smaller tnhn they were this year. !
| point often lost sight Of is that there i
a constant accession of new individuals
firms and corporations in business eacl
year, and this alone furnishes basi
for the recording OF numerous unsuc
cessful ventures. There are now III, 90
more people 10 business than there wer
decade ago. an inorssse Of IL per cent
but failures have only increased pc
cent in number during that period, an
liabilities are only 20 per cent larger
a continuing upfavurable feature is tn
small percentage of assets to liabilities
1t is only 46.4 PER cent this year, a
against 47.2 per cent year ago, an
81 per cent in 1893 and 1885," Failure
for the week numbered $50 10 tn
United Stairs. against 235 last veal
and 20 in Canada, asstnst IS last veal