Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-12-31
lMERICAN TRADE HAD
YEAR OF PROSPERITY
.,oulture Broke All Records
's md General Business I'M
nroved as Result of War

-, ,.srns strange. in viewing the pres
Nasoncial commercial and industrial
e. e...iop 10 recall the fact that little
,han a wear ago the United states
NV oossine through nearly every pos
~ , sxnerience OF adversely except that
spe ,riete disaster" says the annual
a.a o. ~ of trade by r. G. Dun & Co
rtiavlng emerged fundamentally in
49,, rom the greatest crisis in the
rorlds history the report con'llues,
MI MI country has. with characteristic
wage & and fortitude, met and over
eouns the most perplexing and trying
tou..r,ic nroblems, and has established
~, unon a more solid foundation than
aver before. .,-, p
Sslnce many months were required for
All adjustment to the extraordinary
.onaitions created by the war for con-
fs.rahle period recovery from depres-
s,on was necessarily gradual and check
ia but Of late the barometer of prog
.,,s has risen with continuity and
.ntd,,v seldom If ever, ebualed. In
s,ss in some respects nothing in history
Ssrallels the recent phenomenal eNpan-
ION in national activities, and IT is sig
niaoant Of the existing state of the pub
ia mind that the advance is regarded as
more than ephemeral
In brief Dun's report has the following
. 10 saw of the various industries:
AGRICIrLTURE -- Eliminating cotton
,he mast year was the most successful
neriod in the history of American agri-
mI,ure For the first time this country
,sised one billion bushels of wheat In
snte OF the reduction in the yield OF cot
ION. the South Jared better the recovery
IN quotations advancing the estimated
value OF the crop Si5,WOOpVo apoNe 'naI OF
the previous season.
-
,v low chb production of iron aud steel
has mounted until all former records
have been surpassed. while values nave
risen steadily. the advances coming IN
sharp succession during the closing
quarter OF 1915.
DRY GOODS - Prosperous conditions
attended the closing weeks Of the dry
goods year. Although there was big
decrease In imports of cotton linen,
wool and silk. there was a seven-Gold in
crease in the expectation trade in wool
and a gain in cotton goods exports of
about 10 per cent
HIDES AND LEATHER eco Abnormal
conditions prevailed in the hide trade
throughout the year 1915. owing TO the
war in Europe. Prices on all varieties
OF domestic hides and skins advanced to
levels never before attained, at least
within the memory OF those now actively
engaged in business.
BOOTS AND SHOES-DurinG the early
months of the year business I'm footwear
was generally unsatisfactory and con-
servatism governed all transactions
Freak styles hampered trading to quite
an extent But through the spring and
simmer many factories were running
overtime. and not until the early fall
did some manufacturers complete de-
llveries During the early part of the
autumn a temporary lull was noticeable
in the demand from domestic buyers,
but a little later orders of consequence
we're received, and dilatory buying tao
tics ceased abruptly. The closing months
OF the year showed active conditions.
with every prospect for continuance
OF same.
MONETAR CONDITIONS-Du an
other epochal year, the United States has
made Unprecedented strides toward a
position of international supremacy, not
only in commerce, but also I'm finance
FOREIGN EXCHANGE-The foreign
exchange situation presented sensational
features, with a complete reversal OF the
extraordinary conditions prevailing dur
ing the early months after the outbreak
OF the war. Then. the United States
stood at a distinct disadvantage In the
money markets of the world, and re-
mittance on London scared to prohibi'
tive figures whereas in the last yeal
this country occupied the position of SUI
nremacy in international finance and eX
change on all the leading European cen
tres fell to the lowest point ever known
SILVER BULLION-Depresslon In sill
yer bullion. which was accentuated by th'
outbreak OF the war, continued pronounced
throughout the greater part of 1915.
COMMERCIAL FAILURES - Prelimi
nary statistics of commercial failures dur
inG 1915 indicate that defaults were mucl
more numerous, but involved fully $4,000
900 less .han in the preceding year. Th'
number of suspensions Is estimated a
22.052 against 1s,2S0 in 1914. whereas thu
liabilities were $500. lSO.s94, in comparison
with 1851, ,9OS $50 I'm the earlier period.