The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-21
BUSINESS IS GOOD.

Continued from Page one.1
If one Insurance company in New
York is thus occupied with a hundred
and twenty millions face value of cou-
pom bonds then it is fair to presume
that in all the insurance companies and
in many of the title or guarantee com
panies like physical labor has been in
progress for some days and will con-
tinue until the end of the year.
Not at a Fault.
One gratifying feature associated
with the cutting of coupons this year
is the fact that with only a few trivial
exceptions all the negotiable instru-
ments of this kind which responsible
insurance OF other corporate bodies are
holding as part of their assets will be
paid upon presentation. Throughout the
country there are to be no defaults in
interest that are of any consequence.
The fact itself may be offered as proof
of the sOundness of our business and
financial condition. Many millions are
to be paid to investors or to owners of
securities throughout the United States
on or Immediately after the first of jan
uary and these will be regarded as to-
kens or certificates setting forth the
fact that business on the whole and in
it's larger aspects was, in the year 1911,
anything but bad.
Our Greater Markets.
The Washington statisticians were
able to report a day or two ago
of the United States not only for the
month of November of this year. but
Tor the eleven months of the calendar
year. It might not seem very strange
ports by seventy-f1ve million dollars in
view of the fact that in November,
usually, the heavy expectation of cot
ton and some food products begins.
mate now made of what our foreign
commerce for December will be so
that even before the official figures
are reported from Washington an esti-
mate of the visible international trade
balance for the year 1911 somewhat
in excess of five hundred million dol
lars will be regarded as a reasonable
estimate. Of course some part of
this visible trade balance is really off
set by what is commonly called the
invisible balance made up of travel
ers letters of credit, freight charges
and the payment to citizens of foreign
countries of interest or dividends upon
American securities held by them.
But the most experienced of the men
familiar with international commerce
are of the opinion that, making liberal
allowances for these invisible charges
Invisible since no official record can
be made of them-the entire year s
business will yield a credit to the
United States of not far from two
hundred million dollars
Big Business Explorations.
Early in August some of the execu-
tive officers of the United States Steel
corporation stated in private converse
ton that unless slump, of which
there was not the slightest evidence,
occurred the steel corporation and
the international Harvester company
would export in the year 1911 COM
modities of the money value of q lit
tie over one hundred million dollars
The same executives had then learned
unofacially, but upon what seemed to
be good authority, that in all prob
ability the exports of products manu-
featured by the Standard Oil company
value of about seventy-f1ve million
dollars. Therefore, the prediction was
made with some confidence that the
three typical examples of +bfg bust
ness will have exported in the year
1911 commodities OF the money value |