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Failures In 1873

Failures In 1873 image
Parent Issue
Day
30
Month
January
Year
1874
Copyright
Public Domain
OCR Text

Ihestatistics of failures during the past year which are presented by the annual circular of Dun, Barlow & Co., of the Is ew York mcrcantile agoncy, are of unusual interest because of thoir exhibit ot the result in one direction, of tho fi naricml crisis of last fall. The table for the cntire country shows that the total iailures in 1873 wero 5,183, against 4,069 in 18,2, and that the amount of liabili ties was .$228,499,000 in 1873, a-ainst $121,050,000 in 1872. It will be nSticed at once that while the numher of failures ic-o87Íl19 but 2Ö per cent' Snater than of 182 ,the actual amount of los is nearly doubled Thisisowing to tho failuree otyery heavy firms, such as Jay Cooks ?"„ Henry c'ews & Co., Howes, Ma7n %'■ t' & f' SPraSue. Hoyt, Sprague & Co., Pisk and Hatch, etc, etc. More than two-thirds of tho total liabilities ot tailing firms throughout tho whole country wero in the three States of New York, Pennsylvania and Khode Mand' JNew York alone shows $100,356,000 in 1873, agarinst $29,100,000 in 1872; Pennsylvania $31,445,000,000, against $9,422000 in 1872; Ehode Island $15,159 000 against $1,179,000 in 1872; a totaí of $1ü3,060,000 in these throo States in 1873 against 39,702,000 in the same States thé previous year. The rest of. the country shows an absolute improvement in 1873 over 1972 to $81,354,000 in 1872. Michigan, shows a total of 248 failures, with lia_büities amounting to $3,917,000 in 18.,, against 175, with $2.670.000 nf li. abilities, in

Article

Subjects
Old News
Michigan Argus