The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-10-06
NINE MONTHS FAILURES.


Prosperous conditions in trade and
industry are reflected in the statistics
of failures. which show marked re-
duction from the high mortality of
1915.
Strictly commercial insolveEcies. as
distinguished from banking suspen
sions and personal embarrassments,
numbered IS, $50 in the United States
during the nine months just ended,
and involved s154,5s6.7O7 of defaulted
Indebtedness, against 1928 reverses
last year, when the liabilities reported
to r. c. Dun & Co. were $241, 464,060.
AS the number of firms in business
is steadily increasing, it is not surpris-
ing that there were more defaults than
in all other years prior to 1915; yet the
liabilities were the smallest for the
period since 1912 and were also less
than IN 1908.
Moreover, the record for the third
quarter shows a numerical decrease
of 1852 ard contraction of about
100000 in amount as compared
with the first quarter this year, and,
rs the latest returns afford the best
indication of present conditions it is
gratifying that there were fewer fail
ures in September than in any month
in three years, while the indebtedness
was the lightest since August, 1911.
Separation of the nine months
failure statement according to occupa-
ton shows that there we're 1925
manufacturing suspensions for $50
214,661; trading reverses numbered
s.345 and involved s74,017,524. while
insolvencies among agents. brokers
and concerns of a like nature were 679
for $21, S54.522.
These figures compare with 1897
manufacturing defaults last year for
$S9,698.009 and with 1854 trading
embarrassments for S123.G31, 22O; in
1915 the other commercial failures
were 747 and the liabilities S2S,O74,S31.
Thus. the returns show that each of
the three classifications into which the
record is divided showed mere or less
contraction, both in number and
amount, from the high mortality of
the previous year, the numerical re-
auctions in the manufacturing and
trading divisions being about II and
26 per cent, respectively, while the
improvement in the Indebtedness was
"a per cent in the former and 40 per
cent in the latter. In contrast, the
falling off in other conmercial lines
was approximately per cent in num-
Der and "a per cent in the sum owed.
Decreases of about IA Ter cent in
number and 30 per cent in amount
were disclosed by the returns for the
seven Central Western states, where
there were 1875 insolvencies, involv-
ing $9.1SO,976, as compared with
1,410 last year for s14,93O,5S7.
An increase of % failures occurred
in Iowa and there was one more in
Kansas, but in all other instances
there were fewer defaults and in
every case the Indebtedness was
smaller, the record for Missouri being
particularly favorable. For the sec
ton as a whole, the mortality dimin-
ished both in manufacturing and trad
ing occupations, but more reverses
occurred in other commercial lines.
though the liabilities contracted mod
erately.
In Kansas, the failures for the nine
months period numbered I64, as COM
pared with 1913 for the corresponding
months of 1915 and 155 for those OF
/ 1914. And the liabilities of the Kan
sas failures for the first nine months
of this year aggregated s66S.e47, or on
the average of a trifle over $4,000
each.