The Providence news. (Providence [R.I.]) 1891-1906, 1905-11-02
Sc, 1872 for October, 1905,
Against Sl0,525,7 28 Year Ago
FEWE5 UNEMPLOYED PEOPLE
Most Of 852 Failures Trading Concerns;
Real Estate Comparisons Were Also
Favorable; 7 Bank Suspensions.

Commercial failures durlns OCTOBER
were S52 In number and 81. Isl 1872 in
amount Of defaulted Indebtedness. ac-
cording TO statistics compiled by Dun's
Review based on reports from branch Of
nces OF II. q. Dun & Co, against SSs in
sOlvencies I'm the same month last year,
when the liabilities were sl0,525, 72s.
In manufacturing occupations there
were 2S7 failures for SO, 444,Sl5. against 22s
in 1904 for 81. ,272. Trading defaults
numbered 500 for 50. 036, 6S1, compared with
63 last year, when liabilities aggregated
So 1879, BIS.
Even in the third class OF commercial
failures. embracing real estate, brokerage
and other concerns not properly included
in the two principal divisions. the com
p~srison was favorable, % failures for
$40, $40 falling far below the 20 for s123, 23S
in October. 1904. or banks and other hdu-
ciary institutions there were I suspcu-
sions for S.974.5i against : last year I'M
yolving $3f2, so and 2i i'm 1898 for slS, 0s4, 63j.
FEWER UNEMPLOYED.
In every respect except banking failures
the October comparison with any recent
year IL decidedly favorable. and last
years record OF financial defaults was alb
normally light. II ~ particularly crafty
ing TO md that the bright promise OF earl
LET HlDnitS Is Deilk ANlilltus llSOlNN tlNi'n
OF late falling stu further behind those "
the corresponding months I'm 1904.
This was to be expected I'm view OF the
general property that Is noted I'm all
parts of the nation because OF good crops
and Industrial peace. which brings full oc-
cupation for all labor and n liberal dis
irritation OF money I'm the shape OF wages.
A smaller percentage OF unemployed than
In any previous year is the keynote OF
national success.
Not only were liabilities smaller by over
one third than IN the same month last
year. but the comparison is still more IA
vorable when carried further back.
In fact. only one year made a better ex-
hibit than 1905 since there monthly records
were first complied, Considering me very
large increase IN the number of firms In
business and the amount OF capital in
volved. the small losses OF last month be-
come most impressive.
AVERAGE LIABILITY LOWER.
This is a point that Is too often over
looked In discussing the commercial death
rate. In the last ten years there has
been an enormous growth In the nations
commercial activities. so that IL the
death rate had been the same we should
have found a very much heavier aggre-
gate OF liabilities and number OF failures
than In the same month OF 1895. whereas
there appears an actual decrease Of 337
failures and 3s.634 75s in amount OF in
d~ebtedness.
Another important phase OF the insol-
vency report Is the comparison OF aver
age liability per failure after deducting
all those for 800. 600 each or over in
October Of all years back TO and including
1894.
For this year II Is found that six manu-
featuring defaults provided more than n
third OF the total liabilities. leaving an
average OF only ssbss for each Of the re
naming failures. which compares with
s9s11 last year. STA, 1926 in 1908. and 1895
alone OF the preceding eleven years made
a better comparison.
In the trading class a similar elimina-
tlon OF large failures leaves an average
of s4277, against s575s last year. and 1898
Is the only year covered by this record
that makes a better exhibit. For all
commercial failures tho average is $685..
against s7003 last year. and no previous
year makes as good a showing. the lowest
average being $685. I'm 1901. This is a
very significant exhibit. meaning more
thar a mere comparison OF aggregates.
SOME STRIKING CHANGES.
Comparison Of october failures with
last years figures according To occupa-
tion disc.oses some striking changes in
fNAA vi ~ ~ VI AAF lNul zen III II |
cipal classes into which tho manufactur-
ing failures are subdivided showed larger
la bilities than IN 1904. while eight
Of business made moro favorable
The only notable increases were i'm
liquors and earthenware. the former be-
cause Of two large failures I'm mailing and
brewing. while one cement concern pro-
vided the bulk OF loss in the other classi-
Small increases occurred in iron. wool
ems. chemicals and leather. ON the other
hand there was an Improvement OF over
a million dollars in lumber and kindred
lines almost half a million dollars In
miscellaneous manufacturing failures. and
smaller favorable changes in machinery.
%cottons, clothing. hats. printing and mill
Ing
The class embracing hats. gloves and
furs provided the only extensive alteration
IN these six occupations.
Aside from a trining increase 4, the
miscellaneous class. every one Of the
- trading occupations provided moro
or less decrease In comparison with the
liabilities In the same month last year
The most satisfactory exhibit was made
IN the class embracing LIQUORS and to-
hacco. where liabilities decreased about
100000, while there was improvement 10
tho extent Of about $3.50. 900 In groceries
and meats. and over 500. 600 In clothing
dry goods. shoes. drugs and hardware
Even general stores provided a decrease
OF almost 500 900. although there was
q slight increase In number OF failures.
CLASSIFIED NEUTRALITY-SUSPICIOUS.
-Liabiities-
Manufacturers 1906. 1904
Iron. foundries. etc t8l $50 so 800
Machinery and tools 401. sec 45.a27
WoOlens. carpets. etc. ny0O 360 900
lace and
hosiery ............ 1000 1890
carpenters. 3ss .5G5 10000
Clothing and millinery 1851 2S. aOi
gloves aud furs. 81 I3765
Chemicals, drugs. etc. 22.g0-
and engrav-
ing ............ ASS 72sN