South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-07-29
BUSINESS CONDITIONS
MOST SATISFACTORY
Monthly Report by MiShaWaka
Trust and Savings Co. Re-
views Situation.

The monthly business letter Issued
by the Mishawaka Trust q savings
co. came off the press Thursday ana
deals with the general business condl-
tons throughout the country Inc
outlook for crops. IL states Is satls-
factory beyond all criticism. and rae
tories. mines. fisheries and other
sources Of new wealth are contributing
actively 10 the upbuilding OF the
Country's resources. among otHSr
things the report says:
statistics are prOyerbially dry, but
the figures issued by the department
Of agriculture estimating the condition
Of the cr1ls on July read more like
romance than plain fact Particularly
at the present time, when so much or
the wealth of the world Is being de-
stroyed, it is gratifying 10 realize that
this country is contributing actively TO
rerlace what is being lost. The esti-
mate for wheat is placed at 100000
600 bushels. with a strong Likelihood
OF this being increased TO reach the
billion mark. Corn. our greatest crop,
should yield 2.814,000,0O0 bushels as
compared with 2.672.S04.000 bushels
harvested last year. other crops-oats.
barley, rye. potatoes, tObacco-all
show relatively the same wonderful
figures Furthermore, Ne now know
that the 1914 cotton crop was the
largest ever produced. amounting to
16.13493O pounds and exceeding by
442229 bales the previous record crop
OF 1911.
zone OF the interesting results OF
the war Is the transformation that
has taken place in American snip
building a year ago there were
hardly half dozen ships being built
in this country with an aggregate ton
mage Of between 100000 and 100000
tons. American shipyards on both
coasts as well as on the great lakes
are booked more than a scar ahead
and with a little sensible legislation
there is no reason why the great in
dustry OF shipbuilding should not once
more take its place among our great
industrial resources.
I'm estimating the addition 10 the
wealth OF this country caused by the
war tourist traffic is frequently al
luded tn, though one seldom sees any
actual figures on the subject. Careful
estimates indicate that from the be-
ginning OF spring until the end of
Septem Der this country will save for
itself in tourist expenses no less than
$500. 600. Steamship agencies and
others who have to do with Americans
travelling abroad, report that under
normal conditions at least 500 600 peO-
pie would have left this country for
Europe and that each Of these PEOPLE
would have spent an average of $500.
figuring on "a decidedly conservative
basis. The result of the cutting off of
this immense foreign travel is being
felt throughout the United states at
every seashOre. lake side and noun
tain resort. Some of the money will
naturally remain unspent on holiday
travel but 10 will find its way into the
banks or into the hands of tradesmen.
PROFESSIONALLY, automobile makers
will profit immensely from the loss of
many a European trip. All through the
nation this saved money will circulate
and the so-cal1ed invisible balance
OF trade against us will be reduced
materially by the keeping at home OF
ali this tourist money.
our balance OF trade continues TO
pile up rapidly and by this time is well
up 20 the billion dollar mark The
foreign exchange markets are strongly
in our favor, gold keeps on moving
in this direction and merchandise eX-
ports are placing the country in a po-
sition of strength never before occu-
pied in relation 10 foreign trade"