The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-06
Sound Business Conditions.

Summarizing the past month with
reference to commercial credit and that
which affects it, Dun s review comes to
hand carrying a report that speaks
volumes for business stability and 5un-
derlying conditions Of soundness. Over
the entire length and breadth of our
country only 1913 firms or individuals
engaged in business enterprises, great
or small, went under during April. This
is wonderfully good showing, for
while at a glance 933 failures in a
month may seem like a good many, the
number is really very small for a great
country like ours. s. -. -.~
Comparison with April of last year
shows that in that month the, number
was lob, nor was that larger total
considered especially unfavorable.
When the liabilities are compared the
difference comes out even more strong
ly upon the good side, for in. April,
1904, the total involved was $13 ,136, 6SS,
while for the past month the entire
sum is only $8,056,S66. The whole indi-
Gates that conditions working for great
prosperity are with us. Not only is
there an abundant money supply with
interest rates reasonably low, but that
which holds the entire commercial
STRUCTURE together, that wonderful
thing called confidence, is here. Men
are not afraid to trust one another.
There is confidence not only in the hon-
estY and the ability of the average
business man to: forge ahead success
fully, but in the permanence as well@of
conditions that make such business :ex-
pansion possible. =. 81 $500 -
A summary covering the entire coun-
try is the best guide in this matter, for
state reports for particular period
may not always reflect the true gen
eral condition. When the figures for
the first quarter of the year appeared
recently, Minnesota did not line up
well, altho there is no state in the union
in which general credit is higher. The
reason for this lay in the Faribault
bank failure, that came in with the new
year, and swelled the liabilities of the
state by 100000. In the same way it
may be expected that when next the
quarterly state reports are tabulated
Wisconsin will loom up on the bad side
as result of the filing of an assign
ment by Bigelow, the Milwaukee bank
defaulter, who went into bankruptcy
after the uncovering of the bad mess
Yet while this may make Wisconsin ap
pear to disadvantage, credits thru
out that state are very high and likely
to remain so.
The credit department. managers in
the large mercantile houses that dc
business thru Minnesota and the Da
kotas are, as rule, conservative, as
is highly desirable, and while always
reasonably liberal towards those seek
ing credit, are quick to change theil
general attitude on the appearance Of
anything suggesting the ACCESSIBILITY Of
caution. There seems no good reason
this spring why they should not be a:
liberal as ever, if not little more so
Certainly the outlook for the balanc,
of the year could scarcely be better
Everybody is doing business; the Who'll,
: country is sound; there are no foreign
or political entanglements in sight t.
disturb things; money is likely to re
main easy, and the crop outlook is fine
The promise is that there will beSa biz
yield from the farms and, this come
closer the point of realization Will
every passing week. Winter wheat j
nsshape to yield in a manner that vii
create the greatest activity in tn
country south and southwest Of Mime
apo1is, while for the northwest sprin,
wheat territory the promise has neve
been better at corresponding date.