The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1912-04-16
Trading Liabilities Less Although
Those of Manufacturers Are
Greater.
A REDUCTION IN MINNESOTA
Gopher State Losses Found to Be
Diminished By Over Two
Millions.

The number of commercial failures
in the United States reported to r.
G. Dun and Co., during the first quar-
ter of 1912, was 4,S2S, very large
total for that period. The amount of
liabilities was $63,O12,323, also a
large total. The average liabilities
per failure amounted to $13,O51,
which has been frequently exceeded
in the earlier records, and which
compares with $14,969 in 1911, with
$2O.732 in 1910 and with $15,422 in
1908. 1t was, therefore, in number
rather than in magnitude, of mercan-
tile defaults that the first quarter of
this year was distinguished. The
three months liabilities s63,O12,323,
compared with s52,196,O45 in the
last quarter Of 1911, with $59,651,-
761 in the first quarter of 1911 and
with $73,O79,154 in the first quarter
of 1910. The number of defaults,
4,S2S, compared with 1886 last year,
1926 in 1910 and $3.50 in 1909. The
failures were also 485 greater than
in the last quarter of 1911.
In every section of the country, ex-
cepting the western, the number of
defaults was larger than a year ago,
the increase being greatest in the
middle states and the central south.
The largest increases were in the
middle states, $25,644,029 against
$21,OO3,O39 in the corresponding
quarter a year ago; in the central
south, $S,SSS,662 against $5,931,149,
and in the New England, $4,767,394
against $2,157,469. The biggest de-
crease was in the central west, $4,-
30S,770 against $7,293,O4O.
The increase in the number of de-
faults extended to each business clas-
sification, manufacturing, trading and
other commercial, and also in bank
ing. The trading defaults were 1859
against 1910 a year ago, although
the trading liabilities showed a de-
crease, being $28,377,94O against
$20,763,784 in 1911. The manufac-
turing liabilities aggregated $685.
7O6,157, against $23,539,177 in 1911.
The brokerage and agency class re-
ported liabilities of $S,928,226 as
compared with $6,34S,S00 in 1911.
While there were five more banking
failures than last year, the liabilities
were only $5,756,46S against $12,-
715,432.
Failure statistics for three months
are compared below for a series of
years:
Yr. No. Assets Liabilities.
1912 4,S2S $41,e53,365 $63,O12,s23
1911 1886 3S,36O,O36 59,651,761
1910 1926 54,260,SO3 73,O79,i54
1909 $3.50 33,147,90S 44,46O,95O
1908 4,909 4S,9S5,4S3 75,706,191
1907 3,136 19;453,364 32,O75,591
Reduction in Minnesota.
In the seven central western states
only two reported increased liabili-
ties. while there was reduction in
Minnesota from $3,464,53 to $685.
1872; in Iowa from $751;, 200 to $685.
1870; in Missouri from $2,263,962 to
$1,2O2,795, and also in Kansas from
$570,S95 to $539,953. While there
were thirty-three more trading fail
ures in this group, the amount in
volved showed a decrease of almost
$2,70O,000, and manufacturing loss
es were smaller by fully $1,0OO,O0O,
though slight increase occurred in
number. Two defaults of exception
al size in the third class swelled the
total above normal, the liabilities
showing a gain of over 100000 as
compared with the previous year.
Number Liabilities
1912 1911 1912 1911
MINI. =. SO "a 937,2s2 3,233,17s
Iowa 80 60 63S,13O 1915
Miss'ri 1926 1,262,795 2,2O3,952
N. Oak. 81 % 395,155 207,315
S. Oak. 23 8 28O,65O $1,000
Neb'ka So 38 3O5,795 273,696
Kansas 81 81 539,953 57O,395