The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1916-08-01
National Bank of Com
MERGE Trade Letter
Is Optimistic
BANK CLEARINGS
HERE SHOW GAIN
Commerce Through
500 Canal Increases
Million Tons

Inc Iale tetter OF the National
Bank Of Commerce OF retro.t for
Angus; says:
That business Will receive an
immediate setback when The war
ends seems uRl!kaly The very mo-
iuentum 81 presept domestic and
foreign business will undoubtedly
carry on the volume OF trade for
considerable period even after the
European var comes TO an end.
Next 70 food. shelter aud cloth
Ing The prime requisite Of lie is
transportation The moor car not
only furnishes individual rapid tran.
Sit OUT gives a vas, amount OF
healthy pleasure Available stats
tics indicate - the present that ap-
pruN.nlately .Ho oud one-balf per
cent ~ he people u the United
States own automobiles. There il
nc evidence OF a slowing down ot
orders in this great industry.
Commercial transactions arr
maintaining substantial volume
through summer period sAich
usually witnesses larger falling
of Slightly ebated activity is 10
be noted IN some quarters. and
there ar, definite evidences OF re-
adjustment and a closer approach
TO normal
Bank Clearings In ls2 cities during
June aggregated nearly p tillion
4CllaTs compared With i billions In
June Of last wear a gain ~ A. per
cent This j. new high record in
clearing. for the month Il June
Cleariags outside o. New York city
were eight billion dollar compared
With SIX billion dollars a year ago.
a gain Of p per cent The Letrpi;
Clearing House reports clcar4nEs
for June. 1915. q slN+.7.i.st2 .. a.
compared with sI24.57a isf.3f for
ne same month last wear
Exports Of merchandise during
May fotaled az million dollars com.
pared With ~ millions wear ago,
making a favorable balance OF
trade for MAY Of 2I] million dol
lars compared with l32 million dol
Lars FOR MAY, 1915. The department
ot commerce has estimated Cur for
e.zp trade totals for the L months
ending June 80. 1915. the amounts
for June being based upon final 70
tgrEs for Nav given above. Exports
for the Il months are estimated at
4,345 million dclllrs COMPARED with
2.75S million dollars for the previous
- months. the gain being 1871 mil
lion dollars or 81 per cent. I'm
ports for the period are estimated
az 2.Is0 million dollars compared
with 1874 million for the corre-
spending period last year
Lake commerce through the 500
canal N June totaled 1900 90 tons
compared with ~ million tons In
May and eight million tons In June
last year. The June movement set
new high record. Tie east6ounl
movement was nearly Il million
tons. the same as IN June a year
ago
During the fiscal year ended June
20. 1915, there were go vessels
build in the United states with a
Trrss tonnage of 9i7 thousand tons
compared with 2ls thousand gross
tons for the 1896 vessels construct
cd In the previous fiscal year.
Lake Superior iron ore ship.
ments during June asain set a now
high record t1'-ling s.5o3 thon4and
tons cornparcd With $3.50 thousand
tons IN MAY and 5.1o5 thousand tons
In June. 1918
June business failures numbered
.239 with Liabilities OF 10 million
dollars compared With 1922 failures
in June year ago with liabilities
Of nearly IS million dollars As the
assets - he concerns failing IN
June 'ha year were less han 1--WE
million dollars compared with not
quite Il million dollars IN June. a
year ago. net liabilities were five
NIL on dollars compared with eight
million dollars last year