South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-04-12

$4,000 900 in leather. $4,000. 900 in
wool manufactures, and large ship
ments OF war materials. a further
idea OF the effect Of the war upon our
foreign trade is illustrated by de-
creases Of $215, 000.0 900 in our exports
20 Germany, $4,000 900 10 Belgium,
S1O,O00,00O 10 Russia, S11. 900 200 TO
Austria and $4,000. zoe 10
Canada: while our exports 10 Great
Britain increased 45.000.00O, TO Italy
S40,O00.0O0. and 10 France S33,000.-
600. At the moment export demands
for grain and cotton appear TO have
reached their apex and are tempOrar-
ily az least on the wane. This of
course would tend TO keep down the
big foreign credit balance here and
. encourage more normal conditions in
foreign exchange. AT the same time
the latest reports from Washington
show that during the week ending
April our exports increased $751;
10000. while the imports decreased
50 $1,000 600, leaving a trade balance
for the week alone Of over S21 600, 600.
II is known also that orders have been
placed in this country for fully a mill
lion tons Of steel products for export,
which at fair valuation would ap-
prOXimate about 30.000.000. Heavy
shipments in war materials are forth
coming. and these figures will have
TO enter into the international trade
account. Another important which
Will have to be considered is the an
nual remittances for tourists usually
estimated at about 100000, 900. This
sum will not be sent abroad this year,
but viii remain at home, much Of 1t
10 be distributed among American
railroads hotels and summer resorts.
Railroad Affairs Better.
Further evidences are coming TO the
surface that American railroad affairs
have turned the corner for the better.
Quite a number Of instances prove
that earnings are making better re-
ports and net results are more prom
Using. This is true both as to some of
the eastern properties and also as TO
lines running through the south,
which were temporarily crippled by
the backward cotton movement. The
western roads have been materially
aided by agricultural prosperity, and
the transcOntinental roads expect TO
( benefit by the large travel which the
Pacific coast exhibition will attract
this year. The effect Of the Panama
canal upon the transcOntinental roads
has not yet been very marked. 1t has
caused some loss Of traffic, which
! however is expected to be regained in
other ways, particularly by local de-
velopment Of Pacific trade. American
railroads are facing serious problems,
not the least being the high rates OF
interest which will have to be paid for
all new financing; this is a result OF
the billions being borrowed by Euro
/ pean belligerents. The interstate COM
merce commission will have to take
these facts into consideration in their
| treatment Of the railroads.
The crop outlook is now beginning
/ TO be a factor of Importance The
government has given out a report OF
| the condition OF winter wheat at SIS
! as against SS.3 in December and 95.6
year ago. There has been. however,
a large increase in the acreage not
only in the grain belt. but also in the
south. A reduction in the cotton acre
age is anticipated, reliable estimates
ranging from 10 to . per cent below
last year.
General Trade Quiet.
General trade is quiet but now that
spring has fairly come, there is reason
to look for improvement: in fact, the
latest reports show that the turn in
the current has already begun. In this
/ connection the recent large dry goods
| failures reflect conditions which be-
! long to the past. The belief in early
/ peace, the improved financial situa-
/ ton. the recent buOyanCy in the stock
market, the more reasonable attitude
Of legislation towards business. all
tend TO inspire confidence in the flu
tuTe. Many persons have overlooked
the fact that a number of industries
are reaping abnormal profits from war
contracts Our farming classes are
also very prosperous. The steel trade
future is more promising. Each day
the belief that we have turned the
corner and are on the way to better
times is strengthened; hence the pres
ent activity in stocks. Conditions are
favorable TO continuance of that ac-
tivity, accompanied by sharp fluctua-
tons, dependent upon the vicissitudes
of war.