Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-31
FAR-REACH|NC EFFECT
OF RECENT RATE DECISION
American National Bank Issues
Trade Letter Commenting OH
Conditions.
wARNIN AGAINST BooMs
Coming Year to he Eventful in
american Manufacture, With De-
mand for New Products Hereto
fore Purchased Abroad.

Warnings aga!nst attempted booms
are given In the monthly business forr
cast Issued ychtrrday by- the American
National Bank. Business. the bulletin
states, is convalesciug and while 1t
still needs nursing. there is little dam
ger or relapse unless Some one gets
too enthusiastic.
The coming year. 1t Is predicted, will
be an eventful one in American COM
mcrcial history. The American fac
tories will begin to manufacture many
things which have heretofore been
bought abroad, and many things will
be exported which have heretofore only
found a home market. Travel it is
pointed out, will be confined chiefly to
this country. while the foreign tourists
VIII probably come In large numbers
to see the Panama Pacific Exposition
The bulletin Is chiefly Il review of the
financial and business history of the
past year. with especial emphasis laid
on the situation since the outbreak Of
European hostiiities. 1t lis predicted,
with figures to back up the argument
that midnight on December 81 will find
the huge floating debt of from $50, OO0,-
900 to iO0,000.000 owed to Europe. wiped
out completely, which means that bust
ness Will owe no more in trade balances
than is owing to it.
FAR-REACHING EFFECT
OF RECENT RATE DECISION
AS to the recent railroad rate de-
cision. the bulletin says:
THE Eastern freight rate advance
recently allowed by the Interstate Com
merce Commission, while important in
itself, assumes much greater import
ance in it's evidence to the world that
the needs of the railroads are receiving
full attention at the hands of the COM
| IL l. e,
OF the petition of the Eastern roads for
an increase would have meant addI-
tional railroad receiverships which
would have brought other business dis
| asters in their wake. The effect of the
decision is. therefore, far-reaching and
even though. az estimated. the Increased
| income to the roads themselves may
only run from $50, O0O.0 to $40. 900. 900
annually. this comparatively modest
sum added to the revenues of the rail-
roads would mean an increase In the
! general business of the country of more
| than sl,0O0,000 per day. The railroads
! will pay this money for labor and ma
| tcrals: the material makers will pay
| it for labor and raw materials; in the
end it all goes for labor and with 1t
| the laborcr supplies his needs, which
| means business In almost every line Of
| human endeavor.
| Gross earnings of railroads for Oc-
tober were 1863. 100000. compared with
! S29S,0OOo0O year ago, falling off of
| 10 per cent, while net earnings were
| SSS,000.000. compared with $4,000, 600
n year ago, decline of per cent.
Although the Southern group and the
| Pacific Coast group showed the heaviest
| decline in gross, considerable decline
was recorded by all of the groups. The
| New England group. the Eastern and
| Middle group and the Southwestern
group all managed to show some gain
| in net. the gain by the New England
group amounting to nearly per cent,
| the others being mere fraction"