The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-04-07
LESS FAILURES IN
BUSINESS WORLD
OFFICIAL RECORD FOR THE PAST
THREE MONTHS SHOWS A
MARKED IMPROVEMENT.
RECORD GOOD
AMOUNT OFF LIABILITIES GREATER,
BUT THIS WAS DUE TO THE
SUSPENSION OF ONE
BIG CONCERN.

The number of commercial failures
In the United States during the first
quarter of 1919. as reported to r. G.
Dun & Co. was 4.45s, with a de-
faulted Indebtedness of s76,S32.277,
against 4,s2S suspensions in the same
three months last year, when the
amount involved was s63,012.323. 1t
will be observed that in number of
business suspensions there was a
large reduction from the previous
year, whereas there was an increase
of almost $14.000,o00. or practically
20 per cent, in the total liabilities.
The expansion in the latter respect,
however, was due chiefly to n few
failures of unusual size. and, exclud-
ing these from the record. the ex-
hibit for the quarter is by no means
bad, although the losses we're above
the average for the period In ques-
ton.
The decrease in the number of de-
faults as compared with last year eX-
tended to each business classification
manufacturing. trading and other
commercial. Thus. there were 1.o52
manufacturing insolvenCies against
i ,082 In the preceding year. but, ow-
I ing to n single suspension of an iron
and steel concern for about $1,000
900, the sum of money involved in
creased 70 s30,634,667 against S25,-
I706,157 in 1912. In trading occupa-
lions there was large contraction in
number Of failures-3.233 comparing
with 3,559-but several reverses of
exceptional size combined to swell the
1 liabilities much above normal, to-
tai of s36,590,109 contrasting with
/ $2S,S77. 490 year ago. The NOR
tally among agents. broke@ and
/ firms OF a similar nature reflected
some Improvement from numerical
standpoint--173 defaults against 1877
In 1912--while the Indebtedness did
not show a particularly marked in
crease, an aggregate of s9.607. Sol
comparing with S8,92S.226 in the pre-.
iyious year.
Heavier Liabilities.
Geographical analysis OF the frs
quarters failure returns shows tha'
in only two of the eight sections into
which the statement is divided Were
there more commercial defaults thar
in the same period OF 1912. Thus
a moderate increase OF forty-five in
solvencies occurred in the New Eng
land division and large expansion o
1871 was reported by the Pacific
States, but, with these exceptions
every group sustained fewer losse,
imam III the preceding year. NuInSIl
cally, the most notable improvement
was in the South Central division
where there was a decrease of III
suspensions, and both the Middle anC
Central Western States reported de
ciines of about 125. On the othe
hand. aside from the New England
Central Western and Western sec
tons. all territorial divisions showe'
heavier liabilities than in 1912. witt
the Middle Atlantic Statess alone hav
ing an Indebtedness fully $4,000, 90
in excess of last year. due mainly t
, n single failure of unusual magnitud
previously referred to. In no cas-
= was there a decrease Of especial size
e the largest contraction being approx
= mately s1,500,000 in the Contra
West
3 South Atlantic Record
The nine South Atlantic States
4 while reporting slightly increased liza
4 bilitics-$8,602.413 against s7.493.22
( last year-showed a reduced numbe
of defaults--571 against 63i in 1919
Georgia made a rather unfavorabl
. record of $50 suspensions for $3.149.
1928 against 14s for Sl.918,732 las
year South Carolina also reporte
an increase, seventy-four failures 70
1894, $50 comparing with fifty-fou
defaults for s730,953 In 1912. Mary
!, land had fewer losses. but larger liza
biltties, the record being SO default
for s1,719i00 against IS for $685.
100000 in the previous year. Della
ware, Virginia, West Virginia an
North Carolina all made favorabl
comparisons with 1912.
Ay,s-ta har sah