Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-12-08
THE Dus)ness F,ElD.

/ UW8 OVOVU0 8O8 pu9kUs
Il u gratifying that there were hfty-
seven fewer commercial failures in the
United States during November than
in the preceding month. even tho the
business mortality. OF the country was
| heavier than In the corresponding Pc
riod Of recent years. Duns report in
dicates that the amount owed by de-
faulting concerns exceeded the aggre-
gate indebtedness in October. but chief
significance attaches to the number OF
insolvenceis, since the sum OF money
involved is often distorted by several
reverses OF exceptional size. This fact
was clearly demonstrated In last
months returns, which showed that
forty-one suspensions for 100000 or
more supplied over one-han Of the
total liabilities, thus leaving an aver
age Of $s,463 for the 1886 remaining
! smaller failures. as against $s.5S2 q
year ago. There were, however. 202
more defaults than in November, 1912.
with the largest Increase occurring In
trading occupations. Losses In that d.
vision were more numerous by 1s1 and
the indebtedness rose about $4,000, 900.
while the 3S2 manufacturing firms that
failed owed fully $5.oo0.o00 more than
the 1927 similar concerns that were
forced to suspend last year. Elimi-
mating two big realty companies in
New York City, which can not proper
ly be included in the strictly CONNER
cial insolvencies, the mortality among
agents, brokers. ETC., was in excess OF
a year ago, both in number and
amount.
Holiday trade has opened up well.
and tina quietness prevails in prac-
tically all staple lines, a broader move
ment is anticipated with the advent Of
lower temperatures.
Apprehension Of labor troubles at
textile centers, notably at Fall River.
has been removed, at least for the
present, but scarcity OF operatives
keeps production below the volume OF
distribution. An easier tendency Is
manifest in cotton goods for contract
delivery, but spot values hold steady
and recent inventories by western
jobbing houses indicated more pros
porous conditions than a year ago.
Upon the removal Of the tarin on
wool at the opening OF the month
heavy Withdrawals from bonded ware
houses were made by manufacturers
and dealers, yet the domestic situation
is not affected by the change. which
had been fully discounted.
Machinery at shoe factories is run
ming to capacity In most instances.
principally on spring and summer or
ders. but the demand for immediate
requirements is mainly confined to
small lots.
The depressed state Of the iron and
steel trade is reflected by a sharp fall
ing of in the output Of pig iron last
month. the rate Of production being
the lowest in almost two years. There
was a considerable net loss In he
number of active furnaces, while the
steel works continue to curtain oper-
atoms. A somewhat better inquiry,
however. has developed in certain dis
tricts and the decline in quotations
encounters more resistance.
In spite Of the fact that the weather
has favored outdoor construction.
building opera tons during November
were lighter than those Of year ago.
comparatively few cities showing ex-
pansion as compared with that time.
Other statistics for the month also en-
phasize the contraction In general bus
mess, bank clearings being SO per cent
smaller than in 1912, while returns Of
railroad gross earnings thus far re-
reiced for four weeks Of November are
0.3 per cent less than last year. altho
showing q gain Of 10 per cena over
1911.
No more gold has been sent to Can
ada, yet the furry in money caused
by the Dec. 1 settlements has not en-
tirely disappeared. Sentiment IN fnan-
ctal circles. however. Is improved and
the securities markets were noticeably
frmer. Latest available figures on
foreign trade movements at the port Of
New York reveal some increase in
merchandise exports In comparison
with 1912, whereas imports decreased
fully s5.ooo,oOo.