The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-12-31

one-half billion less than the cores
pond1ng month Of 1912. The decline
applied almost equally to New York
City and the country outside New
York.
Business failures, while not so
numerous in November as in October,
were still greatly in excess Of Novem-
per 1912; Failures numbered 1904 for
the mont with total liabilities Of $685.
100000 compared with 1,141 failures
IN November, 1912, with liabilities Of
$l5,00O,O0 The liabilities Of all
FAILURES for the first eleven months of
This year were nearly 40 per cent
greater for the same portion Of last
year but 8 per cent less than in 1908.
Failures since Dec. / have been
numerous and some large failures
have. been recorded. One Of the
largest FAILED concerns, a Chicago
oond mouse, found it necessary. to ask
Tor an extension Of time on it's paper
as long as three years ago and since
n a time has been trying to weather
the storm, but present financial con-
ditIons have made 1t advisable to
llquidate the business. One of the
leading independent coal interests in
the Pittsburgh district has had
financial difficulties and a receiver
has been appointed, although it is
claimed that the actual assets will
exceed the liabilities by $780, 900, 900 or
SIS, 600, 900.
So far as reported the gross earn
1ngs of the railroads for November are
a above the earnings for the
same month last yea Figures on net
earnings for November are not yet
available. 1t is safe to assume that
When all reports are in, gross earnings
Will show a fairly good increase over
last year while net earnings will be
less than last year. This is the state
of affairs which has frequently been
referred to in these reports.
Few people know that practically
every package sent by parcel post as
a Christmas present to a friend must
be, hauled by the railroad absolutely
without compensation of any kind.
Ihe mails are weighed and averaged
Tor a period of a The principal
Welghtings took place shortly before
the parcel post law arrived and no
arrangement has as yet been made for
compromising the railroads for haul
ing the additional tonnage, which is
tremendous. While there is little doubt
that this matter will shortly be ad-
justed, the railroads in the meantime
are the losers directly and the hold
ers Of their securities, whether a v
1ngs banks or individuals. indirectly,
The loss to the roads on carrying this
matter has been variously estimated
at from SIS, 100000 to $685. 0o, 900
based on the present tonnage, which
is constantly increasing.
Merchandise experts for October
amounted to $272, 000, 900, while i'm
ports were only 1888, 600, 900, leaving
us with a favorable balance of trade
of nearly $139,0 600. 900, the largest
| faUNro hlo fro11 1r3 1o,, g.. -.
month in our commercial history
There is a world of meaning in these
fsures because, placing Europe in our
debt to the amount OF $780, 600, 900 in
a single month. Is a considerable heir
to money conditions and this is a
factor which will do it's share toward
relieving the recent tight money
market. 1t Is also an interesting fact
that practically one-half of these ex.
ports were manufacturers, which
means that much American labor is
represented in the values of at least
$131, 100000 worth of these exports
Our total exports for the first four
months of the new fiscal year were
$685., 600, 600 with imports of 1851, O0O..
600, leaving a favorable trade balance
for the four months of 1888, 600, 900
compared with a balance Of $145, 000;-
600 for the same period last year anG
$176, 900, 900 for the same period OF
1911.
The report of the steel corporation
at the close Of last month shows ar
untitled tonnage Of 4,396,000 tons, g
slight shrinkage from the figures Of
the previous month. The untitled
tonnage has declined somewhat each
month this year but as 1t increased
each month except one last year, the
situation is today practically wha,
it was at the close Of 1911. Stee
prices are in about the same pro.
portioneto wages that they were at the
close Of 1911. The best authorities
seem to believe that average bottom
prices have been reached, although Il
is quite possible that lower figure,
may be quoted temporarily OF
individual items. The steel bushes,
is operating at SO per cent of capacity
today and not much change for TIL,
better can AXE place until neg
month. There Is every reason to ex.
!. pect January to show a gain Owe
December In volume OF business ant
February a gain over January. Som,
considerable orders have been placed
for steel rails since December 1. A
number of good sized cal. orders hav,
been placed. the total Of these RUNNING
to- several thousand cars with lin
II quirfes out for several thousant