Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1915-08-06
BUSINESS IS STILL BRISK IN EUROPE
of the Warning Nations is Not as
Rapid Many Believe

finding the way to do without some
Of those things which we have beer
accustomed to get from Europe ant
it is to be hoped that we can still
further reduce our import record
Among the things which we are nov
importing in large quantities, which
We should in time be able to pro
duce for ourselves in sufficient
quantities to supply our own needs
are wool, raw sugar, lumber, feath
ers, cotton, hemp, flax, jute, hides
and copper. We should either find
ourselves able to produce these
things and decrease our imports Or
produce something which VIII take
their place as, for instance, cotton
can be used for many purposes for
which we are now using hemp and
jute.
There were 1922 failures in the
months of June with liabilities to-
falling nearly 10 million dollars com
pared with 1,161 failures in June,
1914 with liabilities of IS million
dollars The Chaflin failure in June,
i1914 swelled the failure totals for
that month so that the comparison
does not show the actual condition
but there has been a decided i'm
provement in the failure situation,
and, in view Of what we have passed
through, credit conditions in this
country make a very satisfactory
showing.
Bank clearings in the principal
cities for June showed an increase
of l per cent over a year ago and,
for New York City alone, the in
crease was per cent. For the
country outside New York, clear
ings were practically the same as
last year. For the year to date,
cIearings are per cent under last
year, which decline is more than ac-
counted for by the operation Of the
Federal Reserve Banks.
Dividend and interest disburse-
ments for the month of July are es-
timated at 265 million dollars, which
compares with pa million dollars for
the same month last year Dividend
and interest payments for four
months ending with July will total
Sos million dollars compared with 644
millions for the same time last year,
an increase Of "a million dollars.
Ship-building is one industry which
is receiving a permanent impetus
through the war, and hulls totaling
over 500 thousand tons are just now
under construction. Most Of the
shipyards are booked up for from
twelve to eighteen months, the work
being largely on merchant vessels.
The production Of pig iron in
June was 2 3S1 thousand tons com
pared with 1913 thousand tons for
the same month last year. This IS
the largest production for any month
since October, 1913 The average
price of pig iron at all markets has
been about stationary since last
October.
The untitled tonnage Of the steel
corporation at the end Of June was
1878 thousand tons compared with
4,033 thousand tons year ago.
This is the largest untitled tonnage
reported for more than year. I'm
filled tonnage reports from the prln-
cipal Independent companies are on
par with those of the corporation.
Our crude oil production for the
first half OF 1915 is estimated at 145
million barrels, which is exactly one
half of last years production and a
gain over the same period of 1913.
The prodcution of gold at the
Rand mines in June was 1855 thou
sand fine ounces compared with us
thousand ounces in June of last year,
On the first of July, Bradstreets
index shows commodity prices at the
highest points in the history Of the
country. This figure is arrived at
by averaging the prices on ninety
six articles Of general consumption.
The extremely high prices Of some
particular commodities in this in
stance distOrts the figures. Many
of the foodstuffs, especially fruits
and vegetables, are quoted at very
low prices and some Of the metals,
as for instance pig iron, are still
very low, as are fuel oils. The av-
erage price Of all commodities will
probably not be higher, but the
prices of some commodities, now
priced at unreasOnably low figures,
must Of necessity advance, while low
er prices may be expected in some
Of the metals and other commodities
which are now priced at figures
which can only be maintained by
manipulation. Copper, among the
metals, can harly continue it's sensa-
tiOnal advance.