Evening journal., 1913-02-01
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ikHUL UUNUEIIUNS
AT HIGH LEVEL

The February Letter on Trade and
business forecast issued by the Ma
tional Bank OF Delaware is interest
ing in It's optimism Conditions gen
orally prevailing are at high Lowell.
Tho lcttcr says
Statistical reports show that mcr-
camille manufacturing and banking
conditions have reached n stage which
denotes complete prosperity for the
country as whole Only once in tho
past ton years has general business
reached its present high level and
that was during the month OF Decem-
bor, 1908 Only twice during that
period has business approached It's
present high level. once on February
I. 1907 Just preceding the financial
panic and again on December /. 1910.
when we were reaoting from the husi-
ness slump which occurred during the
summer months OF that year.
"Ihe clearings Of banks for De-
cember totaled 10. 400 million dollarA
which was about tho same as Novem.
Dor and an Increase OF n billion and
n quarter over December OF the pre-
vious year The clearings for the en-
tire year were nearly 175 billion dol
lars or 10 billion dollars above the
previous high record which was made
In 1903. Clearings, exclusive OF New
York City, for December were 6646
million dollars which was slightly
more than for November and half
billion dollars IN excess Of December
OF the previous year. For the year.
/ exclusive OF New York. clearing we're
"a billion dollars and more than bill
lion dollars In excess OF 1911, the pre-
vious high mark
THE complete figures OF Railroad
EARNINGS for November show a gain
IN gross OF 81 million dollars or IL
per cent and a gain in net of nearly
~ 3-4 million dollars or almost fG
per cent In these figures we have
another evidence that be means of
better car handling and more eco
nomical management. net has shown
a greater percentage of Increase than
GROSS in the face OF the higher wages
now being paid. The more rapid
movement OF cars has brought about
an actual increase IN the carrying ca.
pacity of the roads which is making
Itself felt I'm the handling OF the
country's commerce, and will clearly
show In the dividends earned by rail.
road companies for the year.
Gross earnings for December for
all roads whose reports are I'm no far
show a gain Of more than Z IL mil
lions over the same month of the
previous year or II per cent For the
first week IN January n gain OF IL
per cent Is shown In gross
"The car shortage has been relieved
and az nearly all points cars are
available
The total commercial failures for
December were greater IN number
and in total liabilities than IN either
1871 or 1910 During 1912, failures
exceeded previous totals for the cor.
responding months In ten minths oui
OF twelve. The failures OF 1912 wer,
more numerous than in 1893 or an,
other year except 1908 Failures fol
the entire western one-third OF thl
United States We're less and for tn
balance Of the country more.
"The Labor Situation cannot b
properly covered in this report 10
; lack of space. Strikes and threatene
strikes arc numerous and in spit G
"a large number OF wage increases, th
situation continues 10 grow moro sci
ious. Labor Is scarce. wages are hig
and disagreements between the en-
ployers and the employed are appear
ing faster than they can be settled.