Omaha daily bee., 1903-04-12

Avn
The most encouraging feature of the fail
ure return is found by comparing with
earlier years. Thus, only two years OF the
preceding fourteen recorded fewer failures
during the first quarter, Notwithstanding
the fact that the total number Of firms in
business has very largely increased during
that period, while only the FIVE years i'm
medistely preceding record smaller aggre-
gate defaulted Indebtedness. A most in
structive comparison is made by taking
the ratio OF liabilities to solvent payments
through clearing houses, which practically
gives the financial death rate. On this
basis 1t appears that only about 81 Of bad
debts compare with $1,000 of live business.
Distribution is Favorable.
Geographical analysis of failures for the
last three months makes a most favorable
comparison with last years figures at the
east, despite a few exceptionally large de-
faults that distort the record and necess,-
tate special consideration. Defaults In
New England fell off nearly 100 in number,
but there appeared a considerable increase
in amount of liabilities. Trading and man
ufacturing losses we're little altered, but
other commercial failures in Massachusetts,
involved over 81, 900, 900. Yet total failures
for the state were eighty less than a year
ago, or about one-fourth. In Rhode Island
the proportion of decrease in number was
even greater, exceeding one-half, yet lta-
bilities rose sharply, while for Maine the
increase surpassed 100 per cent. In the
three middle states there was also a small
net Improvement as to number, but an in
crease in liabilities. New York showed a
rise Of over 30 per cent, all classes Of com
mercial liabilities increasing largely, al
4k..-k AonbIn1 Ioaaaa urara inaianinrant
compared with last year. Conspicuous
strength was shown in Pennsylvania. the
decrease in number of failures amounting
to sixty, or over one-fourth. while de
faulted Indebtedness diminished nearly
81, 900, 900, or more than one-half. New
Jersey failures increased in all depart
ments, notably as to financial losses.
Failures at the south.
Unsettled conditions and more or less
delay in collections, together with food
and other weather complications. made the
failure xhibi again unsatisfactory at the
south. In some cases there were decrePscs.
notably South Carolina and Alabama blU
on the whole the losses were fully equal TO
last years, which in turn were much
greater than in the preceding year. In The
aggregate, there was little change for the
three southwestern states. yet liabilities
In Missouri were much smaller. This In
provement was lost by Texas, howev"r
where trading liabilities rose above ST.
900, 900. Arkansas would have made a vrry
good showing but for the other CONNER
cial class and banking defaults.
Failures I'm the West.
In the thickly populated states Of the
central west the return shows little net
change, smaller liabilities In Ohio, Indiana
and Illinois being Offset by greater losses IN
Michigan and Wisconsin. The trading
failures were notably severe in Michigan.
but this entire section exhibited a marked
improvement over last years figures Cf
banking losses. or other western state
the reports are less striking. Colorado
made a much better showing as 10 defaulted
indebtedness, but some increase in nnm-
Der of small failurCU was reported. Mime
sofa and Iowa both made poorer FXhib'ts
than a year ago. In every respect the Pa
cihc slope gained in comparison with list
year, Improvement being most eytens We
in the principal states. California recorded
one-third smaller liabilities. while tho
percentage OF gain was even greater for
Washington and Utah.
Compared by Sections.
The number Of failures and amount OF
liabilities during the first quarter this year
and last in different sections Of the toun;ry
are compared below:
Number; Liabilities.