The Bridgeport evening farmer., 1916-06-02
General Trade Conditions
 and
 Business Forecast (Issued by The Connecticut National Banlz)

| Business as a whole in the last few
 weeks has been proceeding along more l conservative lines than for the months l immediately preceding, and the read
 justrnent noticeable to a slight extent l a month ago has become an easily 1 discernible feature of the situation | since our last Report. Totals in many lines fell off in April, but in practical I Iy every case these decreases mean | that business is abandoning unW1se l and excessive operations for sounder
 and more restrained methods, and 1n- dicate a healthier and safer general condition.
 | Exports of merchandise during l March totaled 40 million dollars sl compared with 297 million dollars in Il March, 1915, and imports were 214
 million dollars compared with l 5S mil l lions in March, 1915. Our March ex- l ports. exceeded the previous record ex- 1 ports of February by a few thousand | dollars. Our favorable balance of 1 trade in March totaled 196 million 1 dollars compared with 139 million dol l lars in March, 1915. April foreign trade figures are not yet available.
 Bank c1earings at 162 cities during l April totaled 19 billion dollars com 1 pared with 1 5 billion dollars for April, 1915, a gain of 29 per cent. and com l pared with clearings of 21 billion dol 1 lars in March of this year, the record
 high month. During April all but 1 nine of the 162 cities recorded an in
 crease in cIearings over last year and | 132 cities made new records for April | cIearings. New clearings records for any month wre also set during April | 25 23 cities.
 Money in circulation May 1st tota1ed l 3,910 million dollars compared with Il 3,917 million dollars April 1st and 1 n -l RTrxy I
 showing a decline in the circulating
 medium for the third successive
 month. Per capita circulation on May l 1st was $3S.28 compared with $38. Al \ a month previous and $34.78 a year
 previous. The population of the Unit
 ed States is estimated at 102.146 thou sand compared with 100, Al thousand on May 1, 1915-
 I Dividend and interest disbursements I during May will total 1S7 million dol
 lars compared with 127 million dol I lars in May of last year. Of this
 amount 53 million dollars will be in 1 dividends compared with AS million dollars last year while interest pay
 ments will aggregate 84 million dol
 lars compared with 79 millions in May, I1915.
 Financing by corporations during April totaled 222 million dollars com
 pared with 1 54 million dollars in April I1915. Industrial companies continue
 to supply the bulk of the new dnanc- 1 ing.
 New and large corporations formed during April have an authorized capi- tai of PA million dollars compared with TT million dollars in April, 1915. These figures, although they show a ! considerable increase over last year, do not indicate as much activity in this line as obtained in the opening
 months of thissy
 Sale of stocks on the New Yo ork E1x- change during April amounted to 13 million shares compared with 15 mill l lion shares in March and 21 million ! shares in April of last year. Bond l sales on the Exchange in April tota1ed 1 TT million dollars compared with 81 million dollars in March and 1os mill 1 lion dollars in April, a year ago. The
 average price of a selected list of 62
 stocks at the close of April, a year ago. The average price of select
 ed list of 62 stocks at the close of April was 99.81 compared with 101.56 a month previous and s1-so year previous. The average price of 30
 selected bonds was 91.43 compared with 92.04 a month before and 9O.33 at the cIose of April, 1915.
 l Businessl failuresA in the United States during April numbered 1880 with liabilities of Is million dollars compared with 1868 failures in April | a year ago with liabilities totaIing 39 million dollars. Assets of the failed concerns Aggregated eight million dol lars compared with 20 million dol lars a year ago, leaving net liabilities of eight million dollars compared with net liabilities ofL19 million dol lars in April of last year. | Building operations at 149 cities in lApriI totaled 88 million dollars com pared with 76 million dollars in April
 1915, the gain being over 15 per cent. April building figures, however, are somewhat below the. April figures in several previous years. as scarcity of materials, high prices, and controver- sies with labor are operating to repress building to certain extent.
 The lumber cut in March (461 mills reporting) totaied 952 million feet ] compared With 797 million feet in March. 1915, and March shipments were 899 million feet compared with l 748 million feet in March of last year. The March lumber cut was composed of 834 million feet of soft woods and 118 million feet of hard woods compared with 701 million feet
 of soft woods and 96 million feet of | hard woods cut in March, 1915. The March shipments were made up of l797 million feet of soft woods and 1O2
 million feet of hard woods compared
 with 676 million feet of soft woods and | 72 million feet of, hard woods shipped
 in March last year. Lumber figures
 have shown an increase in the visible
 supply for several consecutive months.
 Gross earnings of 466 railroads in
 March totaleds297 million dollars com
 pared with 238 million dollars in
 March, 1915, a gain of 25 per cent. and
 net earnings for the same roads were 98 million dollars compared with 68
 million dollars in March of last year,
 a gain of 43 per cent. Railroad earn ings are not so large as in the closing | months of last year, but continue
 of gross earnings in April show a total
 of 72 million dollars compared with
 5S millions in April 1915, a gain of
 over 22 per cent. Grain shipments
 over western roads during April were