The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1902-01-14
CANTON'S PRESENT
ERA OF PROSPERITY
10 Mirrored In the Books at the
Court House--OnIy Nine Fall
ures Recorded for19O1-.Bis
Failing Off in Recent Years.


contrast as to present business condi-
tions compared with those Of years
past in Stark county as indicated by
the assignments made by business
men and manufacturers.
The records show that during 1901
there were but eight persons who
made assignments for the benefit of
their creditors and all were for small
amounts. The assignees are required
to give bond for the full amount Of
the assets, and the bonds in all these
cases total only $16,450.
1t is by comparison with previous
years that the true conditions of bus
mess can be ascertained. A general
improvement has been shown for the
last four years. In 1900 there were IL
assignments in the county, some for
fairly large amounts. In 1899 there
were 20, and the year before 20. The
largest that year was the j. ]. Clark
assignment for which bond was given
for the sum of $65,000. This was
due to the shrinkage Of real estate
values, the direct result Of the panic
of 1898.
The year 1897 was a disastrous
one in Stark county. There were 81
assignments made during the year, in
cluding the Dominick Tyler and d. M.
Alexander failures for $4,000 or more.
There were a number of others for
sums ranging from ten to forty thou
sand.
YEAR OF THE PANIC.
The year 1896, when the panic was at
its height or at least the effects were
more apparent, proved record break
er in numbers. Fifty-five assignments
were made. including that of William
williams for $4,000 and Frank A.
Piero for $4,000.
The years 1895 and 1894 each had IS
. assignments to their credit or dis
credit, among them that of John Il.
Kitzmiller for $4,000, and Charles w.
Robinson, of Canal Fulton, for $780,
900.
There were AZ in 1898. That was
the year of the panic that swept away
many Stark county fortune. Alice
N. Chance failed for $4,000, the
Campbell Lumber company went to the
wall for $50 900, and the j. II. McClain
company assigned for 100000. These
amounts are those indicated by the
bonds given, which were expected to
represent the assets alone, not the liza
Utilities.
In 1892 there were 23 assignments
made and from that time back to 1876
the number was not much larger, al
though there were some very heavy
failures due to the panic of 1873
Among them were the Lamborn &
Gray Lumber company for 100000
This assignment Is still open upon
the books at the probate office, hav.
ing never been settled up. The same
firm, which was located at Alliance
had failed in 1883 for 100000.
There was the Adam Knoblock as,
signment in 1887 for $4,000. and tn,
collapse of the Russell & Co., at Mas
sillon for $4,000 in 1882. This same
firm had four years before gone to tn,
wall for $125,000. In 1877 came thu
Ballard Fast company collapse fol
100000, and the year previous th'
Huntington Bros failed for lik,
amount.
REAL ESTATE FAILURES.
During those dark days there wer,
other business failures, some going In
shown on the records with the assign
ments. Business was Mt standstil
and real estate went down to the low
est notch. Many of the heaviest fail
ures were caused by too much rea
estate.
puring these periods the newspaper
were full of sheriff sale advertise
ments, which prove source of lev
-,,,,z - +bo ebav.iff hrt vnaapt dtco %
to tpe land owner. Men everywher
were idle and the country was over
run with tramps who were such of ne
cessity. The mills and factories wer
closed, banks were failing almost dali
and those who lived through tn
crashes look back upon them now wit
o shudder.
The collapse of 1893 came as a strok
OF lightning out of clear sky. Every
thing apparently was booming. Th
years business was unprecedented, bu
when the bubble burst 1t was foun
that everything had been run O
credit, and when settlement LAY cam
there was nothing with which to sci
tie.
There are those who take pess
mistic view of the present era OF prot
perity and say the indications are tht
business is being overdone as II We
before. Others say that there Is tn
difference: Now there is home an
foreign demand that is greater tina
the production Of manufactured art
cles. Shops and factories are month
behind their orders for immedia
consumption.
OVER PLUS OF STOCK.
In the years when disaster came.
is remembered that the manufacture
had enough stored In their ware-roon