Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1914-07-31
FACTS ABOUT INDUSTRIAL HUNGARY
IN RELATION TO THE BALKANS

Consul General William Coffin. at !
Budapest, reports on the commercial
and Industrial conditions in Hungary
as follows
! General business conditions in Hun
gary were unsatisfactory in 1913. The
grain crops were not so good as
those of 1912, which in turn were
less favorable than those of 1911;
the industries of the country suffered
considerably, banks were very con-
servative, and the bank rate through
out the year remained high, so that
money was not only hard to obtain,
but expensive The bank rate was 6
per cent on January l and July l,
1913, and 51a per cent on December
/, 1913. Commercial loans are usual
ly made at not less than l per cent
higher than the bank rate, and dur
ing 1913 many borrowers had to pay
as much as per cent on good Sc
curty. The transactions of the Buda-
pest bourse for 1913 were valued at
! $120,516,759, as against 1897 ,979. SIG
for 1912. During the year there were
1908 cases of bankruptcy and 2,154
of insolvency. The number of new
corporations formed was AS, with an
aggregate capital of $9,O40,S0S. In
/. 1912, II companies we're Incorporated,
with an aggregate capital of $10,S00,
209, and in 1911, IS, with capital of
$780, 1850 Exports showed loss of
more than $10,000,000 and imports a
loss of more than $20,000,000.
Various conditions contributed to
the unfavorable business year The
Balkan territory. which is large
market for Hungarian manufactures,
was practically closed to Hungarian
) exports for part of the time; the
). moratoriums, promulgated as a result
of the Balkan wars, were still in eff
feet at the end of the year. Hun
garian foreign commerce may be
e roughly divided into manufactured
, goods, which go largely to the Le-
want and the Balkans, and agricul-
tural products, which go to European
! countries west of Hungary. Hun
S gary's trade was adversely affected
' by a decreased crop, which cut down
its western exports, and an unfavor-
able market situation for its eastern
. exports. The smaller crops and the
' curtailed export market for manu-
n featured goods were not solely re-
sponsible, however, for the unsatis-
factory business during the year, as
conditions in Hungary may be said
to reflect similar situations in neigh
{ boring European countries. Hunga-
ran trade with Austria is fair bar
ometer of business conditions in Hun
Z gary, and official statistics show that
in 1913 Hungary bought from Austria
1929, 100000 worth of goods, as
against purchases of 1921 100000 in
1912, and sold to Austria in 1913
J. $3.50, 100000, as against sales amount
ing to 1925, 000,O 900 in 1912
In 1903 the agricultural exports of
the country were valued at $129,000,-
+ 900, in 1903 at S232,OOO,0O0, and in
1918 at 1882, 100000 The exports of
industrial products were valued at
, $29,0OO,O00 in 1908, S56,O0O,OO0 in
1908, and $630O0,Oo0 in 1913.
Industrial Conditions.
Despite the unfavorable condition
: of industries in general, 1913 was a
, good year for the coal-mining indus
try, owing in part to the greater de-
mand for coal by the Royal Hunga.
rian State railways There was a
slight increase in the imports of hard
f coal briquets. and coke and a de-
crease in the imports of brown coal
The total imports of brown coal,
coke, hard coal and briquets amount
! ed in 1913 to more than 100000 tons,
against 100000 tons in 1912. Ex-
ports of these articles in 1913 amount
ed to slightly more than 100000 TONS
+ decrease of about 10000 tons from
1912. The production of Hungarian
coal mines in 1913 is estimated at
1056S,000 tons Hungarian coal de-
posits are estimated to contain over
! 350,000OO0 tons in sight, plus avail.
able resources of 1,35S,OOO,000 tons
The production of the iron ore
mines in Hungary in 1913 was over
2,2O4,000 tons or this quantity,
1,92S,500 tons we're mined in private
mines and 275.500 tons in the mines
of the Hungarian government
The outputs of the steel plants and
rolling mills in Hungary during 1913
amounted to about 44l,420 tons, of
which about 9s per cent was pro-
dueed in the three largest works.
Rimamurany, Salgotarjan and Dios-
gyor. One reason for the slow devel-
opment Of the industry in Hungary is
that iron ore. coal. and limestone are
not found together in any one center
Another unfavorable factor is the un.
satisfactory transportation facilities.
The Royal Hungarian State railways
las, year finished an extensive con
strucfiou uroQramma in connection