The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1915-08-01

| the activity of foreign spies in this
country and the remainder of them due
to the cupidity of the employer or en-
ploye, seeking to take advantage of
the present situation to drive a bargain.
Tine result of these labor conditions
is a loss to everyone. and the sudden
termination of the war would leave
| those involved in strikes and lockouts
in bad shape indeR9. Both sides to
these controversies 9NSuld do well to
look toward recent events in Chicago
where the street car strike was sat
isfactorily arbitrated and where the
building trades strike is now being
settled Just at this time 1t behooyes
all of us to arbitrate our differences
but keep the wheels moving for, If
they are standing still when the wal
ends, they may stand still for a long
time and some of them may never turn
again.
There were 1922 failures In the month of
juno with liabilities totaling nearly
| $40, 900, 900, compared with 1161 failures in
June, 1914, with liabilities of $5S. 900, 900.
The Claflin failure in June 1914, sweled
the failure totals for that month, so that
the comparison does not show the actual
| condition, but there has been a decided
| Improvement in the failure situation and,
in view of what we have passed through,
credit conditions in this country make a
very satisfactory showing.
| The production of pig iron in June was
i 1881 900 tons compared with 1,91S,000 tons
for the same month last year. This is
the largest production for any month
since October 1918. The average price of
pig iron at all markets has been about
stationary since last October On the first
of the month, there were 21S furnaces
in blast with capacity of $4,000 tons per
day a gain for the month of - furnaces
and of nearly 5000 tons in daily capacity.
| An upward movement in prices is ex-
pected to begin soon and continue for
| a long period.
On July l. Bradstreet's index shows
commodity prices at the highest point in
the history of this country. This fig
ure is arrived at by averaging the prices
! on 96 articles of general consumption.
The extremely high prices of some par
ticular commodities In this instance dis
torts 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. me
average price of all commodities will
probably not be higher but the prices of
some commodities, now priced at unrea-
| sonably low figures, must, of necessity,
advance while lower prices may be eX-
| pected in some of the metals and other
commodities which are now priced at fig
ures which can only be maintained by
manipula ton Copper among the metals,
can hardly continue It's sehsd.ioiidi au-
| vance.
Gross earnings of all steam railroads
for Nav were nearly $245, 900, 900, COM
pared with over S243, 900 for the same
month a year ago, an increase OF exactly
1,325 600. Net earnings We're N2,oooooo,
compared with s57000,000 year ago, a
gain of nearly S15 600 or more than IS
per cent. These figures need the ex-
PLANTATION that May, 1914, made particu-
larly poor showing and an actual loss in
net. However, the showing Tor this
year contains an element of hope through
the fact that operating expenses for the
month were per cent less than for the
same month year ago, making saving
of over $4,000, Co., AS the movement in
cotton and grains was lighter during
June, earnings for that month when the
report comes in, will make poor show
ing The beginning of the movement of
, the new crops will now gradually, and,
we trust steadily, bring about a ma
| terial increase in gross earnings
| On the whole, crop conditions are
, quite satisfactory. 1t is hardly to be ex-
pected that either winter wheat or corn
can live up to the government estimate,
but, outside of corn. all crops promise
| to give a good account or themselves
and even the cotton crop, on an acreage
| reduced by about 10 per cent from last
, | wear, is promising to run as much as
: 12 100000 or 1000, 900 bales. Of the last
cotton crop we have exported up TO now,
, | s, 225, 900 bales, compared with S975,OoC
!, bales to the same date last year. Our
, exports this year were made later In
the season. but there would appear to
j ! be little room for complaint In this
showing of cotton exports.
The area of poor business conditions
| in the United States continues to diminish
and at present covers only part of the
! southeastern states, including strir
, along the Atlantic coast from South
Carolina to New York. The central west
is particularly active and the business
map of the whole country today Is as
6 good as 1t has been at any time since
, 1909 Arbitration of the existing ant
threatened strikes and lockouts would
Immediately make 1t better. Those peo
pie who are praying for the war to con
, tinuc for fear peace will mean business
depression for us should be told tina
peace in Europe will probably mean d
! long period of great prosperity in this
, country and the end of the war coult
r bring us nothing but good. Respectfully
9 submitted,
n COMPANY.
p Compiled July 49, 1915.