The Bridgeport evening farmer., 1915-02-01

CO@A~AA~AOAA
is conva1escing." It Is a pleasure to
go over definite figures on basic bus
mess conditions to-day and find that
business is still improving. This does
not mean that business is as strong
as it should be in every part but that
strength will come with exercise and
activity and, Jas activities are increasing
daily In numerous lines, it is reason
able to expect that business SvF1u soon
be normal.
Bank Clearings for the month of
December were nearly 13 billion dol
lars compared with nearly IL billions
a year ago, while clearings for the
country excepting New York City were
8 billions for the month compared
with nearly billions year ago. The
decrease for the whole country was
IA per cent. and for the country out
side of New York, nearly per cent.
In our December Foretgn Trade
statement, we find food for much
serious reflection. Our trade with 9TH
er countries in December was large
enough to nearly make up for the
falling off occasioned by the Euro
pan War and the attendant Interrupt
ton Of commerce. Those people
who believed that trade with the neu-
trail and even the be1lfgerent nations
would amount to little until the arri-
vel OF peace must revamp their con-
illusions in the face of the happen
ings Of December. During that
month. our exports reached the re-
markabIe total Of 246 million dollars,
a figure never bfore reached in the
commercial history of the country, ex-
cept during the three closing months
Of 1912 In the exports any
one month, some individual conmo-
dity usually stands out as the big
item so there is nothing Unusual in
fI11 Rsa11A II f1{
December was wheat Wheat and
cotton were both big factors IN the
high record export months at the
close of 1912. If exports were abnor-
mally large, it is but natural that
commodity Of prime necessity should
tai of such exports. Exports are not
confined to wheat nor are they conf1n-
ed to bread-stuffs; during the first
week in January our copper exports
were valued at more than 2 million
dollars even at the present low price
Of copper; during December and the
first few days of January, we export
ed million dollars worth of copper
Among the big November export
gains were iron and steel nickel,
metal working machinery, autoIno-
biless furs and skins, boots and shoes,
items showed material gains over a
year ago and you will note they are
aside from foodstuffs. Imports for De-
cember were ia million dollars com
pared with 124 millions the previous
month and 185 millions in Deem
Der a year ago. BY comparing these
import and export figures, we find we
created a Trade balance in favor of
this country in the month of Deem
Der of almost 1872 million dollars
which would stand as the high rec
ord but for that of october, 1918.
when our favorable balance for the
month showed 139 million dallars
we have created a favorable trade
balance exceeding 100 million dollars
in a single month.
The gold movement for the month
of December was million dollars in
our favor, indicating that our floating
debt to Europe has been paid or Of
set and that the principal European
countries Will either be shipping gold
to us from this time forward or be
borrowing money from the people of
this country. One such direct loan
or credit has already been negotiated
and Russia is settling for goods p11r-
chased in this country by giving her
notes for the amount. These notes
must be paid within a few months,
either with imports from Russia. or
with gold or American securities.
The railroad situation shows decid-
rate decision and while both gross and
net earnings of railroads are still far
below normal or satisfactory figures,
| the trend is in the right direction and
the railroads. are Making on a new ac-
tvity. both in the purchasing and op-
Grating departments. Complete fig
ures for November and December
gross and net earnings. of railroads are
not yet available but partial reports
already in indicate that the earnings
for these two months were about in
proportion to the preceding months
Heavier railroad earnings will un-
doubtedIy be recorded from the first
of hte year on but earnings cannot
reach former totals until the railroads
have been able to restore the service
to what it was few months ago. TAX
! ing off trains and laying off employees
eliminate some current expense and
reduce payro1ls but hxed charges re-
main and it will. therefore, be nat
ura1 for the roads to restore their
normal service as rapidly as possible
as only in this way can they reduce
the percentage of fixed charges as
Thousands of men have already been
put back to work, orders for mater
ials and equipment are more frequent
and inquiries broader.
Pig Iron production for December
was 1916 thousand tons against L.
! SIS the previous month and 1,984 a
year ago. We began the month with
LAT furnaces in blast with a capacity
of 40 thousand tons per day, slight
increase over the capacity of the pre-
vious month but no change in number
| of furnaces in action.
The anthracite shipments for De-
compared with 1868 a year ago. For
the year 1919 shipments were So
million tons compared with So mil
lion tons the previous year. Total
coal output for the year 1914, inc1ud-
ing bituninous. has been estimated
at $40 million short tons. a decrease
| of so million tons compared with
E1913, the decrease being wholly trace
able to the bitumfnous mines, particu-
larry in the coking districts.
Final figures on output of crude