Evening journal., 1915-08-30
IMMENSE EXPORTS
BOOST TO BUSINESS
General Conditions Good,
National Bank of Della
ware Finds
MILLIONS IN BANKS
TO MOVE GREAT CROPS

improving as a result of tremendous
exports is the conclusion reached In
the business digest issued by the Ma
tional Bank Of Delaware as Septem-
her is about to begin. In part the
digest SAYS
"The purchasing power OF the peo-
pic of this country is greater today
than ever before in history and viii
be steadily increased each month. for
the next few months at least. Our
financial ability to handle our tre-
mendous crops is vitality important
factor That our crops will be tre-
mendous Is generally conceded and
the total farm production will exceed
in both quantity and value all pre-
yious records. On the other hand
corn. oats and some Of the smaller
crops viii probably fall far short cf
present estimates, but a decline Of
several per cent. from present OK
pectatons could not he considered a
calamity as even with such reduc-
tions. our combined crops will be
record-breaking.
THE surplus reserves of the banks,
all of which can be used 10 help move
the crops exceed 730 million dollars
while last year al this same date we
had only ~ million dollars in our
surplus reserves II is apparent that
moving the crops this year viii not
be felt In commercial circles. as the
bank position for the whole country
is such that while the crops are be-
ing moved ample funds will be avail
able for all legitimate commercial
needs This will be a novel situation.
Il Itf
about considerable financial pinch
In manufacturing circles.
"The clcarings OF banks for July
were only slightly under rs billion
dollars, compared with l4,493 million
dollars for July OF last year. the in
crease being three per cent New
York clearings were S.695 million
dollars, compared with $3.50 million
dollars a year ago, but outside of New
York a decrease Of one per cent. was
shown from last year.
Business failures for July num-
bered 1851 compared with 1915 a
year ago and LIZ two years ago.
The failures were Of less importance.
however. as the liabilities totaled
only II million dollars, compared
with 95 millions a year ago and 3S
millions two years ago AS the as
sets of the failed concerns for this
July amounted to over seven million
dollars. the net liabilities Of failures
were less than 10 million dollars.
compared with II million dollars a
year ago and rs million dollars two
years ago.
Disbursements Of dividends and
Interest for August will almost reach
121 million dollars. nearly 81 million
dollars OF the amount being dividends
and more than 64 million dollars be-
ing interest This compares with
dividend payments Of nearly 90 mil
lion dollars last year and interest
payments of nearly 60 millions last
year. Dividends on railroad stocks
will be q million dollars. only
slightly less than last year; on in
dustrials nearly 20 million dollars,
more than a million dollars less than
last year and on street railways
slightly over four million dollars or
a trife less than a year ago. Total
disbursements for the month OF
August of nearly i21 million dollars
compare with slightly over IFS mil
lion dollars year ago. No dividend
Increases have been announced by
other than mining companies and
only one railroad company an
nounces reduction in dividends
Maturities OF corporate securities fol
September will be about SO million
dollars. most of which has already
been provided for.
Full reports on July foreign trade
are not yet available but the l3 prin
rfr,I ,ttrtor,c 4fofs.fafc hanIlfno oval
30 per cent of the foreign trad,
showed imports for the five weeks
ending July 81 Of 147 million dollars
and exports Of 240 million dollars
The same districts for the first tw,
weeks of August report imports o
81 million dollars and exports Of lOI
million dollars. Cotton exports dur
ing July were 244 thousand bales
compared with "a thousand bales
year ago. and imports were Sc thou
sand bales. compared with "a thou
sand bales a year ago.
"Bulding operations in $50 cite
Tor July indicate an expenditure Of Z
million dollars, compared with s
million dollars year ago, the onl
section of the country showing in
creased building operations bein
New England. where building per
mits showed an increase of AZ pc
cent The greatest declines were rC
corded in the principal cities Of IN
country: the only important cite
showing increases being Baltimore
Buffalo, Washington. Minneapolis
Kansas City and Bridgeport.
"There will not be a failure thi
year of any individual crop. alihoug
we will perhaps have about 26 pc
cent less cotton; 10 per cent les
apples and 10 per cent. less suga
cane. We have 81 million acres
the IA principal crops this year con
pared with 301 million acres a yea
ago and 300 million acres two yeai
ago Crop conditions on August
were four per cent above the
year average and the average of a
farm prices was one per cent highl
than a year ago and II per cent hig
er than two years ago.
General domestic trade is impro
ing as the results OF our tremendo'
exports are, through the expend
lures of raw materials and labC
Ending their way into every hran'
Of domestic trade. Heavy shipmen
Of gold already arrived. in trans
and in prospect from Europe TO N
country, are putting us in a strol
position from a monetary standpoiI
The general stock Of money in q
United States now exceeds four b
lions OF dollars
Business conditions generally a
good throughout the country and W
Improve as soon as the movement
ri l.