The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1920-07-22

All things considered, the merch-
ants of Montana made a splendid
showing during the first six months
of 1920, according to figures just
compiled by Philip S. Rush, state
manager for R. G. Dun & Co.
With over 10000 merchants act
lively operating in the state, with
mining conditions anything but fa-
vorable so far as employment is con-
cerned, and with last years crop
failure still being felt very severely,
to say nothing of the fact that there
is no demand for the wool clip, there
were but 43 commercial failures in
Montana from Jan. 1, 1920, to July
1, 1920. These AZ were scattered
over the state, and with two or three
exceptions, there were no large in
~solvencies involved, and many of
those who failed will be able to pay
out their creditors to a very large
extent. In addition to those who
failed, there were a few other o n
Germs whose business was placed in
the hands of creditors representa-
tives, but whose assets are amply suf-
ficient to pay in full all obligations.
Such as these are not counted in the
43 i~nsolvencies, for they are not COM
mercial failures. r. G.. Dun e. Co.
figure only as failures those concerns
which are unable to pay in full their
creditors.
Failures
Failures by months, in 1920, were
as follows:
January-Five failures assets of
$4,000; liabilities, $4,000.
February-Seven failures, assets
of 1900; liabilities, $4,000.
March-Nine failures, assets $40,-
600; liabilities, $58,70O.
April-Seven failures, assets, $751;
600; liabilities, SCI, 0OO.
May-Thirteen failures, assets of
$55,700; liabilities, $63,50O.
June-Two failures, assets of $751;.
500; liabilities, $4,000.
Total, 43 failures, assets $227,200;
liabilities $295,60
General business conditions at this
time are only fair and that there have
not been many more failures during
the first six months of the year is the
most remarkable feature of the pres
ent record.
That the above record is a m
what remarkable one, in view of the
depressing conditions that have ex-
listed in Montana during the last six
months, is better shown by the fact
that, during the year 1918 there
were 95. failures, with liabilities to-
falling $424,55 and assets of $780,
900. In other words, the showing for
the first half of 1920, if kept up dur
ing the last half of the year, would
be about an average with 1918 and
perhaps a trifle heavier than for
1919. Neither of these years, how
ever, showed a heavy business nor
tally in Montana.
Good Outlook
In MANY respects the outlook for
the next six months is far better
than that of the last six months, so
far as Montana is concerned. Those
cities depending entirely on the min
ing industry have at this time a RAJ
Their discouraging outlook, due to the
labor conditions and the very low
price of metals and uncertainty Of
future metal markets, but the crop
is unusually good through
out the state. In sections where
there have been almost no crops
1915 present indications are
that the yield per acre will be large.
The acreage in most sections of the
state is smaller considerably than in
1915, but with good yields to the
acre, and high prices, especially for
the farmers will undoubtedly
experience a good year.