The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1916-12-31
1915 BANNER YEAR
FOR U.S.. INDUSTRY
Factories, Mines, and Mills Tax
ed to Capacity--Gotd
Pours In.
VALUE or CROPS TREsLEo
America Has Two Billion Dollars
Loaned Acknowledgements
In Export Trade.

All records for industrial prosperity
have been smashed by the year 1916.
which closes today.
Never before have the business or
carnations of the United states en-
Joycd such prosperity, and never be.
fore have such prices been seen as
American products have been able 10
command this year. United States
factories, mills. mines, and other pro-
ductive industries have been doing ca
pacity business, and az the products
have moved across the seas to be
gulped down by the warning half OF
the world, there has been a steady In
fiow OF gold to maintain credits.
A fairly accurate barometer Of the
years business activities II shown by
the remarkable increase In bank clear
ings. These. according to figures just
made public In the. annual review OF
trade and finance OF r. @. Dun a. Co.
reached the tremendous total OF $3.50,
$4,000. 900. as compared with s1s,5so..
O00,O for 1915. Railroad earnings
for the year have been placed at
s2.2t 4, o00.0 900, almost double those of
1915.
Crep Nsius Trebted.
Despite the crop shortage this year.
their value, because OF the unprece-
dentediy high prices they commanded.
IL estimated at sT.8f2. 600. 900. almost
$4,000, 00D. 900 In excess OF tho value
OF the larger crop OF 1915 The ex.
ports OF merchandise from the United
states for the first eleven months OF
this year amounted to xI.p61 200 0u,
which compares with s3.1p5, i00, 900 In
1915. Merchandise imports for eleven
months OF 1910 are placed At t2.ls0.'
100000, as compared with n,cot'-
500 900 In 1918.
Nothing demonstrates more fore.
IDLY the remarkable financial progress
OF the United states" says the Dun
review. than the fact that over
q. OOO. 900 900 In foreign loans are at
present outstanding In this country.
since the beginning az the great war.
and more particularly within the last
two years. this nations fupetion Ne
banker TO the rest OF the World has
steadily broadencd. and during 1915
vast sums were again borrowed here.
both by the beliigercnts Of Europe
and by neutral governments. AZ
rough calculation, new foreign imam
cling In this country reached 81 800
900. 900 In the year just ended and
was more varied than In 1917
Commercial Failure. Fewer.
Preliminary statistics OF CONNER.
eIai failures In the United States Cur.
ing 1919. as reported to Dun a Co.
show a marked reduction from the eS'
high mortality OF the pre-.
yious year. Thus the number OF de.
faults In estimated at 16,os5. against
y. I51 In 1918. while the liabilities
were sipI.sd3.52i. aA compared with
$500 ,2sG.it In the earlier period.
Henry cIews a Co. s.s encourage
m.nt In the financial outlook for 1917,
innumsrabie per
pIexiiies arising from the war. A.
peace draws near. extensive readJIst'
ments will become necessary, Il IL be-
Iieyed. which may induce temporary
Inconvenience and loss. IL may be
safely assumed that the war indus
trials will not revel In the big pronts
of the past year or 30, increased costs
In wages and raw materials prevent
Ing any such returns a. fostered the
Wild speculation Of 1919.
q. =. FIRST In Export Trade.
The foreign trade Of the United
states for the year exceeded that OF
any other country In the world. Be
fore the war this nation ranked third
among exporters. Today It stands
hrst.
Referring to the railroad outlook,
ciews a Co. says;
very significant changes have
"a
during tho last twelve months. Cor
poration batting Is no longer as po-
iitically profitable as IL formerly
was, a statement that applies to rail-
roads anits as freely as TO big Indus
trial concerns aud trusts. .lroads.
however. suffered more sew sly than
any other class OF business organiEa-
lions, probably because OF their inti-
mate relations with the public at
large.
between the upper milestone OF
oppressive Federal and State legisla-
tion and the lower milestone Of labor
demands and Increased expenses:
American railroads only escaped
serious financial difficulties. II not
bankruptcy. through the timely re-
vIyaI of business which brought them
general prosperity and sverted an
Imminent crisis. Last year their total
income was $4,000. 100000 and net
81. Oss. 900, 900. an altogether unpre-
cedented total. The present ratio OF
increase In net Is large, but In view
OF large increases In expenses viii
not be long maintained.
Demands ON Roads Increase.
For years the demands upon
American railroads by labor and
hos,tla nuhlic have TAT eadily increAaed