The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-07-11
FAILURES IN JUNE
LESS THAN USUAL
Business Makes Favorable
Showing, Compared With
Past Months.

Commercial failures in the United
States during the month Of June are
classified this week by Dun's Review
according 70 occupation and size This
analysis of insolvencies presents many
evidences OF Improvement as compared
with similar records for preceding
months back to last July. although the
number Of failures and the total amount
OF liabilities for the month are we'll
above the average in recent years Of
unexampled prosperity
On the other hand, il is found that
total losses were only about the same
as the average for the month Of June
in the five years 1S94-s. while compar-
son with the corresponding month last
year Is only adverse IN regard 10 the
numbcr Of small failures. there being
an Increase OF about 800.
Yet a decrease Of 10 per cent appears
IN a comparison Of total liabilities. and
detailed examination of the report for
June IN both years shows that this i'm
provement was chiefly IN a few manu-
featuring occupations.
There was an increase OF 100 IN manu-
featuring failures. but the amount Of
liabilities was only s.. $3.50. against
So. oss, SIS in June, 1907 The machinery
class alone accounted for 100000 OF
this difference, owing to few very
large defaults in the corresponding
month last year. But this was not the
only branch Of business in which losses
were smaller.
Decrease In Lumber.
In lumber the decrease was almost
| 81 10000, and four other manufacturing
! a n
GLIDING the unfinished iron division. cot
ton manufacturing. milling. and bakers.
and liquors and tobacco. The remaining
nine subdivisions Of manufacturing fall
! ures reported some increase. although
! In no case was the difference more than
| about 5259 600. in clothing and millinery.
Trading tnsoIvencies IN June did not
make as favorable a showing, 79i de-
faults for $3.50, 765 comparing with 5s7
/ las; year when the amount involved
was only s.. 6S8, 0S4. Changes were small
| er IN these departments, and thirteen Of
the fifteen subdivisions recorded more
1 or less Increase in total liabilities. The
| favorable comparisons were supplied by
/ the clothing and dry goods classes
| The largest increase was about $500. 900
IN jeWelry- owing 10 one large failure,
while THE loss was almost as heavily
Increased IN groceries and meats, al
! though this was divided among 195 diff
/ ferent suspensions In no other case
| was the rise more than about 500. 900.
/ As TO number OF failures. the increase
/ OF almost 200 as compared with tho cor
/ responding month last year was Aairly
well distributed throughout the list,
/ the largest difference being only g in
/ groceries and meats. IN addition 20 the
manufacturing and trading losses there
. Tann
similar defaults last year, when the
amount involved was $3.50 $50.
Fiduciary Improvement.
This large percentage OF increase was
due 20 a few very heavy defaults in
lines more speculative than strictly
commercial, as this division embraces
the real estate. insurance, brokerage,
and commission houses in which a big
proportion Ct the business IS OF a specu-
lative nature. In respect TO the banking
and other fidUCiary suspensions, there
were the same evidences Of improve
ment in the month OF June. fewer and
| smaller losses testifying TO the racl
that the aftermath OF the panic OF last
October is gradually becoming less OF a
| world.
Separation OF the few large failures in
June from the much greater number OF
1 NORMAL lIlSUi stlClcc makes an uuLSL-
ally good comparison with similar rec
Ords for the corresponding month in thz
preceding fOurT cen years SubtracIfng
eleven manufacturing failures for $780,
900 each with total liabilities OF s.. 656, ~.
leaves scarcely more than 50 per cent OF
the total losses in that class for the
remaining % failures. This IS an aver
age Of only Sl9.233 for each small failure
against similar average OF SiG.s91 last
year. and six OF the thirteen years prior
to 1907 reported a higher average than
4 is shown this va