The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1912-10-12
The Financial Situation.

The Financial Situation.
The last report Of r. q. Dun and
company, dated October S, says:
During the nine months ending
September 80, there were 11,S16
commercial failures reported to R. G
Dun & Co., with liabilities of s153..
$4,000, as compared with 9,944
defaults in the corresponding period
in 1911 with liabilities of s138,865..
$40. The increase both in number
of defaults and in amount of liabili-
ties were distributed over the three
different quarters of the year. The
largest increase in number of de-
faults was in the first quarter, when
there were 1928 failures as against
1884 in 1911, but the largest in
crease in amount of liabilities was in
the third quarter, the total being
$45,762,137 as against $35,17o586
in 1911.
"The heaviest mortality was in
the trading class, which reported
1923 defaults during the nine
months as compared with 1869 in
1911, the liabilities being $69,646,-
.697 as compared with $62,6O7,819
in the previous year. There was also
an increase both in defaults and in
liabilities among brokers and trans
porters, the number of failures being
454 against 341 last year, with liza
bilities of $18,204,O61 against sl4,-
924,296 in 1911. The increase in
manufacturing defaults was not so
prominent, though the number of
failures was 1889 against 2, 544 last
year while the liabilities were over
100000 greater, being $65,693,-
312 against $61.333,505.
An analysis of the nine months
failure statistics by sections of the
country shows that the heaviest
mortality was in the eastern part of
the United States, the New England,
the Middle, the South Atlantic and
South Central States reporting in
creases both in number of defaults
and in amount of liabilities, while
the Central East and Central West
and Western states reported de-
creases in number of defaults and in
amount of liabilities, the Pacific
states reporting an increase in num-
Der of failures, but a small decrease
in the amount of liabilities. Over
$1l, 100000 increase in liabilities is
reported by the Middle states, their
total for nine months being $62,794,-
062, against $51, 030,123 last year.
Proportionately, the failures were
even greater in the New England
states, the liabilities there being
$11,651,507, as compared with $5,-
639,649 in 1911. The South Central
states also made an unfavorable ex-
hibit, reporting liabilities of $780,
364,763, as compared with 3d.
246,7S4. There was a considerable
increase in number of defaults in
the South Atlantic States, but the
gain in amount of liabilities was
comparatively small, the total being
$16,723,O0O against $15.147,S56 in
1911. The Central Eastern states
reported gratifying decreases in
amount of liabilities, the totals being
$19,892,374 in 1912 and $27,84O,-
ACT in 1911, while the number of de-
faults was also smaller, 1871 as
compared with 1856 asst year.
The Central West makes quite
favorable comparison with last year,
some decrease appearing in both
liabilities and number. Few states
show any significant change, except
that while there is considerable:
falling in the amount of liabilities
reported by Minnesota and Missouri,
the good showing in that respect is
to some extent offset by some ex-
pansioh in number. .. III St.
$3.50. Number.
IL. 1912 1911.
Minnesota $50. -. 1919 168
Iowa 80. 1913 152
Missouri s65 a4s
N. Dakota -. 40 SIS
+