110 



Frank aS'. PhUbr'wk 



If 



APPENDIX IV 



OF FAILURES IN U. S., ASSETS AND LIABILITIES, 1881-96 



Bradstreet's, January 2, 1897, p. 2. But Mr. A. C. Stevens (its editor), in 

 8 Q.J. Ec, p. — , quotes his review as giving for the last column: 1893, 

 61.0; 1892, 51.0; 1891, 53.0; 1890, 48.0. From January-September in 

 1893-2-1-0 the Nos. ran 70, 51, 51, 48. 



APPENDIX V 



PER CENT OF LIABILITIES IN BUSINESS FAILURES IN U. S. BY CAUSES 



CAUSE 



1897 



Incompetence. . . 

 Inexperience. . . . 

 Lack of capital . 

 Unwise credits. . 



Speculation 



Extravagance . . . 



Neglect 



Fraud 



Disaster 



Failure of others 

 Competition 



10.3 

 1.7 



23.6 



5.3 



5.1 



1.1 



.7 



11.6 



31.6 

 6.1 

 2.8 



Bradstreet's, January 23, 1892, p. 51; January 25, 1896, 52; January 22, 

 1898, 52. 



31G 



