106 



Frank S. Philhrick 



Taking finally the grand totals of failures for all classes 

 we find that the 215 failures in the West plus the 147 fail- 

 ures in the Northwest contributed about 61 per cent in 

 number, and about 59 per cent of liabilities of all failures. 

 The South held 13 per cent and the Pacific States 15 per 

 cent of the liabilities, leaving only 11 per cent for the East 

 and INIiddle. 



APPENDIX I 



COMMERCIAL DEATH RATES— THE PER CENT OF THE TOTAL NUMBER OP INDI- 

 VIDUALS, FIRMS, AND CORPORATIONS IN BUSINESS THAT FAILED. — BRAD- 



street's January 2, 1897, p. 2 (*) and January 22, 1897, p. 51 



312 



