New Britain herald., 1917-05-11
BUSINESS KEEPS UP
 DESPITE THE WAR
Business Failures in April Placed at Only 1,O69

have not weakened the position of continued decline in the business mor- tality. fewer failures occurring in April than in any month back to edness since last October. Excluding banks and other fiduciary suspensions default in the United State, re. ported to R. c. Dun & Co. numbered only 1000 or 13 per cent. le than Tn March, and involved $12,687.213, a 2S per cent. reduction in the latter. The comparison with a year ago, when there were 1899 insolvencies for $1S,- 3S2,6s7, is even moree favorable, and aS contracted with the high point for the period-April. 19T5--the numer- ical decrease is 4S per cent. and the contraction in amount over 70 per cent. Not in nearly g decade. in fact, has the number of Aprii failures been St limited, while the liabilities are the lightest for the month since 1907 When the steady increase in new en- tGrprisos is considered the exhibit is Ill the more gratifying, and demon- strates that with the country generally prosperous relatively few concerns are meeting with reverses.
 Without exception, the improve. |. ment in the insolvency record extends to each of the three classifications into which the statement is separated: Manufacturing, trading and. other commercial. Of the 1869 defaults last month. 2Sl were in manufactur- ing occupations, involving $5,993,S75; trading failures numbered 724 and the amount was $5,228.s1a, while among agents brokers and other con- cerns not properly included in either of the two leading classes there were 64 reverses, with aggregate debts of $1,364.625. The mortality among man. ufacturers was considerably less than in March and was also the smallest, both numerically and otherwise, for any April since 1909. Similarly, the trading insolvencies were compara- lively moderate, making the best showing In point of number of any month back to June. 1912, with the lghtest indebtedness. save for last September, since July, 1913. In the class embracing agents, brokers. etc.. there were fewer defaults than in any April of recent years. and this is also true of the amount involved.
 Another evidence of the betterment in the business mortality is seen in the reduced number of large failures. there being p in April with individual obligations of $100,000 or over. aggre- gating $5.446.960 altogether. This compares with 24 similar reverses for @7,O6S.7O3 last year; 43 in 1915 for the sum of $25.095,991 and 3S In 1914. when the amount was $9, 117.- 736. In fact. 1t is necessary to go back to 1911 to find fewer large de- faults in April. and over an even longer period to discover smaller 1ia- bilities After eliminating the failures of unusual size, there remained 1.O47 insolnences for less than $1OO.00O each case and the total of these was $7.14O.253, an average of $6.S20. This is the lowest average for April since 1908, when 1t was $6,171. Following the customary tendency, most of the large defaults occurred in manufac- turing occupations. those for $100,000 or more in this class numbering 16 and involving $3.s47,6z3, as against 13 a year ago for $s.071,5s2 and 21 in 1915 for $4.722.034. Among traders there were but 1 reserves of excep- tional size and the Indebtedness did not reach $s50.oQo. the best exhibit in both respects. aside from last year. when the number was and the amount only $3O5.000. since 1911.
 Failures by classes of trade follow:
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