Evening journal., 1913-08-27
SEPTEMBER
TRADE REPORT
National Bank Of Delaware
Says Business Shows Signs
Of Awakening

The September general letter on
trade conditions as issued by the Ma
nonal Bank Of Delaware says:
Trade in general merchandising
lines Is picking up while iron and
steel are less active. As business is
showing signs OF its fall awakening
and as the shipments OF grains even
now is totaling from three to four
million bushels daily, there will be
no surplus Of money beyond what is
absolutely necessary for legitimate
trade demands and an easy money
market is not In prospect for several
months at least.
The clearings Of banks for July
we're 10 IL billion dollars compared
With IA billions for July Of last
year. Outside New York city. clear
ings totaled 6.isl million dollars
compared with 6,025 millions for the
same month last year. Here is fair
evidence that money scarcity has not
retarded the movement Of business
unless Il be in stock exchange cir
clos.
The business mortality Tor July show
I'd a great Improvement ms compared
with the previous months. or with the
average for July for the past FIVE wears
Failures numbered lS0 against 1890 in
luly. 1912. While in June. 1913. only
l4a failures were reported. the monthly
average for the year IN date has beeu
1888 failures Total liabilities for July
were slightly over 20 million dollars.
heinr less than in June and less than
the monthly average for the year. al
though four million dollars greater than
ne liabilities Of the concerns which
lailcd M July. 1912
Dividends for August were 90 million
iollars compared with a. millions last
wear and interest payments were g.
millions. compared with - millions last
wear. September dividend dsburse.
ments will he 81 million dollars com,
oared with 80 millions last wear. and
interest payments will he "a million dol.
ar. compared with IS millions ast wear.
The gain in interest payments covers
new securities issued
Operations in tho building line in the
lf5 principal cities for the month Of
July were practically the same as for
July. 1912 The first half of this year,
however. showed a considerable gain and
Indications nre for renewed activity in
the early fall should money be easier.
"Although the small grain crops are
giving a good account of themselves
and all promise a reasonably salts
factory production. the damage to the
corn crop will be a hard blow 10 those
sections which are most seriously
1it. In Kansas. the good crop OF
winter wheat will be a measure Of
relief but In States where the oats
crop was only fair and the corn cror
decidedly bad the farmers will he hard
pressed to show aprofit on their oper-
Ations for the wear Although the
southwest viii not have the cottor
crop u expected some weeks ago. il
Is stil possible for The entire south tt
produce crop considerable abov,
the average and up to. II not exceed
ing. last year
Latest reports indicate crop OF
"a million bales Of cotton. $500 mil
l.on bushels OF corn: 1.104 million Of
cats: 744 million of wheat: l6S mil.
million Of potstoes: 300 million
pounds OF tobacco; 20 million bushels
Of hsxseed; "a million tons of hay
and n million bushels of rice The
estimated farm value of the above
named crops is 4.755 million dollars
which is above the average total value
OF these crops.
Considerable marketing OF cattle
has been caused by the prospective
scarcity Of corn. and tat cattle as well
as dressed meats are worth one cent
per pound less than year ago
With peace in the Balkans and
with prospective legislation on cur.
reney and the tariff. probably tn,
most unpleasant thing we are facinl
today is the Mexican situation II Il
fortunate that the Government hai
sent as its envoy 10 treat with tha
country man who has already prove,
himself since his arrival In Mexico
. man Of Judgment and a diplomat"