Rensselaer Republican, Volume 16, Number 5, Rensselaer, Jasper County, 11 October 1883 — FAILURE FIGURES. [ARTICLE]

FAILURE FIGURES.

Analysis of Commercial Disasters for Die Third Quarter of 1883. Failures of the Fast Nine Months— Interesting Comparisons.

[New York Telegram.] The mercantile failures in the United States for the third quarter of 1883, as reported to Bradstrcet's, number 2,063 against 1,688 for the corresponding quarter of 1882. The disasters reported for the first and second quarters of 1883 were respectively 3,189 and 2,107. DISASTERS THE LAST NINE MONTHS. The following table shows the total failures for each of the ' throe quarters of 1883, with assets and liabilities, compared with the corresponding quarters of 1882: J. „ . . < ■ - - Hi s i f- y$ —=s if t — % u : o S | p 4*" f i la M> rr*- : S Jf? First qnar. 1883.. 13, 189.123,763,000 $ Firstquar. 1882.. 2,146 15,323,000 29,010,000 49 .Second qnar, 1883 2.107 16,120,000 31,560,000 48 Second quar, 1882 1,503 12,000,000 23,372,000 52 Third quar. 1883 . 2,062 23,375,000 49,460,000 48 Third quar. 1882. 1,658 9,122,000 18,779,000 50 Total 9 months 1883 7,358 < 63,26-1,000 $123,255,000 52 Total 9 months 1882. 5,307 36,451,000 J 11.161,050 51 " GEOGRAPHICAL DISTRIBUTION. The following table shows the geographical distribution of failures In the UHited States for the last quarter of 1883, compared With the corresponding period of 1882: 1882. 1883. Divisions. 3dqr. 3dqr. 1882. 1883. Eastern States. 258 355 $ 2,513,665 $21,294,754 Middle States.. i 365 443 9,049,488 14,465,139 :South'n states. 239 290 2,477,275 2,719,097 Western States. 632 - 615 3,572,659 8,683,007 Pacific States.. 239 272 1,036,555 1,403,994 Territories..... 25 87 128,540 - 894,160 Total U. 5..1,658 2,062 $18,779,460 $49,866,151 -COMPARISONS WITH LAST TEAR. The table below gives the failures for the nine months of 1883, compared with the same period of 1832: .—No. failures.^/—General liabilities.-^ Divisions. 1882. 1883. 1882. 1883. Eastern States. 885 1,122 $12,680,710 $29,369,077 Middle states..l,2lo 1,658 24,545,889 42,996,231 •South’n states. 1,058 1,451 . 13,084,431 13,395,274 West’rn states.l,6os 2,237 16,633,809 30,169,581 Pacific states.. 477 099 3,623,427 4,984,706 'Territories 71 191 694,483 2,139,467 Total 5,307 7,368 $71,162,749 $123,054,336 SUMMING UP. At the last quarter the average liabilities of each failing trade were $23,986, and- the percentage of assots to liabilities, 48. For the first quarter of 1883 the average liabilities of each trader was $13,240, and for the second quarter there were $14,979. The failures for the third quarter of this year were 1,127 less than for the first quarter, and 45 less than for the second quarter. In the first, second and third quarters of 1882 the average of liabilities to each failure in trade was respectively $13,244, $10,232 and $11,311. The distinctive feature of the quarter’s return is the, surprising increase of liabilities in Eastern and Middle States, caused largely by the disasters in the leather trade at Boston, and in the »clothing trade in New York. These disasters, and those directly dependent thereupon, went far to bring up the weekly average of failures for the third quarter of the year. The immediate cause of this Increase In mercantile failures exists in the overtrading made possible by the apparent ease with which the traffic in commercial paper is carried on. Its abuse is serious. To check it two things are.needed to be done: 1. The organization of ft-ade should in some way be carried further to the ond that the sale and purchase of mercantile paper may be carried on more openly than now. 2. A general bankrupt law should be enacted speedily with severe penalties for such abuses as have been ■shown to exist.