Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1915-05-07
Furnished the News-Budeet Through
Courtesy of Eau Claire National
Bank.)

CalS may now De presented with very
little explanation as present figures
compared with those of a few weeks
ago speak plainly for themselves.
While some lines of trade are en-
joying almost unbounded prosperity,
others are doing just a normal bus
mess and still others are barely eX-
listing.
Bank Clearings for March were 49,
843 million dollars compared with a.
253 millions a year ago, decline of
almost 8 per cent. This decline,
however, is fully accounted for in
the operation of the Federal Re-
serve banks which reduces the total
Of Bank Clearings.
The Business Mortality for March
included 1856 failures compared with
1862 year ago. The total liza
bilities of these failed concerns were
26,777 thousand dollars compared
with 23,876 thousand dollars for the
concerns failing in March, 1914. The
/ total assets of the failed concerns
this year We're fully 60 per cent of
their liabilities while the concerns
which failed in March, 1914, had as
sets Of only so per cent of their
| liabilities The actual loss to cred
itors therefore from the increased
number Of failures was no more this
year than on the smaller number of
| failures last year.
Financing in March by corpora
tons amounted to only 73 million
dollars, but almost 40 per cent Of
this amount was for new capital
while during recent months about 80
per cent. of all financing has been
for refunding.
Dividend and Interest Disburse-
ments for. April will total 1874 mil
lion dollars which is exactly the
same as in April last year. Divi-
bends will be 85 million dollars com
pared with sc million last year and
interest 70 millions compared with
rs millions last year March and
April dividend payments evidence
the improved business of the first
three months of the year.
During March, Building Operations
in $50 cities totaled about rs million
dollars compared with 50 millions a
year ago. Good increases were
shown in Baltimore, Detroit, Mil
Waukee, Newark, New Haven, SYRIA
cuse, and Toledo, the remainder of
the principal cities showing a de-
crease from last year. The outlook
for heavy building in the principal
cities is not promising. Labor agi-
tation, strikes and lock-outs have
halted operations amounting to mil
lions of dollars already and much Of
this work has been put over for an
other year.
Altogether for this year to date
We have surely created a favorable
balance still unpaid in excess of 500
million dollars. Any estimate Of
what this balance will amount to by
the end Of the year would be merely
a guess but we'll known economists
are estimating the net favorable
Trade Balance for 1916 at all the
way from one to two billion dollars.
Surely the first figure would be a
very conservative estimate. This
balance must come to us sooner or
later either in the return to us Of
our own securities, in increased
imports or in gold. In the natural
course of business a portion of it
will be paid in each Of these three
ways.
In the reports of the railroads for
February we should find real encour-
agement. Gross Earnings were 211
million dollars compared with PIP
year ago, a decline of less than 1
per cent while net earnings were 81
million dollars compared with 80 mil
hons a year ago, a gain of nearly
II million dollars or more than 80
per cent. While this February COM
parison is with a very poor Febru-
airy in 1914, yet the reduction in
operating expenses for February
this year of nearly 8 per cent or
more than Is million dollars indi-
Gates that railroad arrangements are
making a real effort and an effective
one to carry over to the better sea-
son Which must come to them very
soon.
The number of idle cars decreased
during March and on the first of
April was only 313 thousand com
pared with 1872 thousand the previous
month and 40 thousand a year ago.
Among the. idle were 145 thousand
coal and gondola cars and 90 thous-
and box cars.
In March the production of Pig
IRON was 1904 thousand tons com
pared with 1875 Thousand tons the
II