The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-06-05
Bank CIearings Increase.

Bank CIearings Increase.
Bank clearings for April exceeded
3 million dollars. an increase of near
~ one per cent over the same month
last year. This is in the face of the
fact that the esta blishment of the Fed
eral Reserve Banks would natura lily
make material reduction in the
showing Of bank clearings because of
the new method Of clearing in the
Federal Reserve cities.
Business failures for April were
Eomething over 500 in number COM
pared with 1889 in March, and 1878
in April of last year. The total La
bilities Of the failed concerns were
approximately 80 million dollars COM
pared with Tia biiities OF 10 million dol
lars for the concerns failing in April.
19l4. This failure record on its face
would look had were the assets of the
failed concerns not considered in con-
junction with the liabilities. 1t Is
customary to talk about the numner
Of concerns falling and the total lis-
bilties, leaving the assets out OF &C
count, hut the concerns falling in
April with total Tia Utilities or 80 mil
lion dollars had assets of over 90 mil
lion dollars, while those failing In
April of last year. with liabilities OF
only ! Q million dollars, had assets of
only eight million dollars.
The new securities issued by large
corporations in April total i54 million
dollars compared with only 81 mill
lion dollars in March, and 273 million
dollars In April of last year. APP
proximately one half of these securi-
ties cover maturities. the remaining
portion representing new issues.
a l. "A ak.
ments for April were 1874 million dol
lars, which was exactly the same as
April of the previous year Disburse-
ments for May will total 125 million
dollars compared with lis millions
a year ago. Dividends for May will
he AZ million dollars compared with
80 millions year ago. and interest
SO million dollars, which is about the
sa me AS last year. This gain OF o
million dollars in dividends was made
entirely on railroad stocks. the in
crease in railroad and public utility
dividends being IS million dollars and
the decrease in industrial dividends
about five million dollars.
Net earnings OF the Steel Corpora =
ton were over . million dollars for
the first quarter OF this year com
pared with less than II millions for
iuc Huofiri ipt
the first quarter of last year were 8
million dollars.
Sales of stocks on the New York ex-
change in April aggregate 81 million
shares which represented the greatest
months activity since, January. 1910.
Sales of bonds totaled 100 million dol
lars compared with 81 million dollars
in April of last year. This was the
largest months sales Of bonds since
January. 1912.
Population Hundred Million.
Money In circulation in the United
States on the first of May amounted
to 34s3 million dollars compared with
3.476 million dollars year ago. The
per pita circulation was s34.7s COM
pared with $500 a year ago. The
Federal Government estimates the
present population of the United
States at l00,44l. 600. Leading Gov
eminent officials in recent patriotic
hpeeches have referred to our go
millions OF people" They should now
discover that we are nation of more
than 100 millions
Our March exports fell only one
million dollars under a 800 million
dollar total which compares with ex-
ports of only 1s1 millions for the
same month OF the previous year. Our
imports for March were only 5s mill
lions compared with 1873 millions In
the same tnontsl last year. For
March we created a favorable bal
ance of l4l million dollars. while a
year ago in the same month we Great
ed a favorable balance Of only five
million dollars. 1t should be especial
ly noted that our imports Of gold FOR
March exceeded our exports by Is
million dnliu This 10 the fnurt n
consecutive month In which our inn
ports, clearly indicating a strong flow
a or,s clearly. Indicating strong flew
If the precious. metal .oward Amer
lea, Merchandise, exports at the
thirfaen nrincinal cnstoms districts