OCR Text |
Show RECORD OF BUSINESS FAILURES FOR THE YEAR NEW TOltK, Jan. 1. In spite of some crop shortages added to the record-breaking record-breaking strikes and reduced ' foreign trade, Bradstreet's on January 3rd will report that the failure record for the past year is on the whole a favorable one. In only one section, the 'South, was there an lnorease of casualties over the record of 1901, and in only two, the Southern and Central West, was there an Increase of liabilities. During the year there were reported 8971 commercial failures, with liabilities of $105,693,623 and assets of 50,870,800, a decrease in number of 6.4 per cent and a falling off of liabilities of 18 per cent from 1901. Compared with 1900 and 1899, Increases in the number of failures of 6.5 and 7 per cent are shown, but comparisons with prior years are markedly in favor Of 1902. In liabilities an even better showing Is made, those for 1902 being the smallest small-est reported for twenty years. While the proportion of assets to liabilities was 48 per cent In 1902, as against 46.9 per cent in 1901 and 47.2 per cent in 1900. it is lower than in any preceding year since 1885. With two exceptions, the number of failures was the smallest In fourteen years, despite the fact that the number of concerns in business Is growing steadily, the increase since 1892 aggregating aggre-gating 19 per cent. The annual "death rate" Is shown to be only .80 in 1902, as against .88 in 1901 and .85 hitherto the lowest record made, In 1900 and 1901. |