The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-10-01

and cotton movements are large ana
increased passenger traffic is also a
factor.
The shortage of railroad cars, which
this report indicated month ago was
impending, has already assumed con-
siderable proportions, there having been
a net shortage of $4,000 freight cars in
this country on September 1, compared
with a surplus of idle cars on August
of 10000, making change of a.
900 cars during August. This is the
third successive monthly decrease in
the net surplus of idle cars. That the
situation will become even more serious
seems probable, and the prospects war
rant vigorous precautions on the part
of all shippers.
Production of pig iron in August to-
225, 900 tons in July and 2.7S0,000 tons
in August, 1915. The daily rate or
production in August was 100000, 900
tons compared with 100000 in July. The
blast furnaces are working at top speed
but the hot weather hampered opera
tions somewhat in August.
The untitled tonnage Of the Steel
Corporation recovered somewhat dur
ing August after two successive
900 tons on August 81, compared with
tons on August 81, 1915.
Shipments of anthracite coal in Au-
gust amounted to 5,532,000 tons, COM
pared with 5,462,000 tons in August,
1915. OF the nine railroads reporting,
six show larger shipments than in
August of last year. Stocks of anthra-
cite coal at tidewater shipping ports
on August 81 were $4,000 tons, COM
pared with $4,000 tons on July 81.
PrO6nction oF H.,
district in the four weeks ending August
20 totaled 1,603,000 tons, compared with
l,642,OOO tons in the entire month of Au-
gust, 1915, and shipments for the four
weeks We're 1900 cars, compared with
$1,000 cars in August of last year. On
September 8, there were 3S, 452 ovens in
blast compared with 80, 063 on August u.
The factors which we pointed out a
month ago as indications of a temporary
stop in the gradual decline Of commodity
prices operated to that end during Au-
gust. Bradstreets index of commodity
prices stood at $1179 on September l. a
new high record, and compared with
$11.76 on April l of this year, the previous
| high point, since when, until this month
the index has been making successive
monthly decreases. The index stood at
$3.50 on September 1, 1915. During August
| the prices of 81 commodities advanced, Il
declined an0 81 remained stationary. De-
| tcr:oration in crop yields and large gold
| production are the principal price
strengthening factors, although merchan-
disc embargoes by the railroads, effective
! for a short time last month, have also
| raised prices in some lines.
| August business failures numbered
| 1851, with liabilities of $4,000, 900, com
| pared with 1895 failures in August a veal
/ ago and liabilities of nearly S1600 900
! Assets of the concerns falling in August
| this year were 5000 900, compared witt
| S, coo, 900 in August year ago, making
4 net liabilities this year of Sl0,000000, com
| pared with IS, O00. 600 in August. 1915.
| Financing by corporations in Angus
| totaled 146 900 compared with IS. 200 00
1 in August year ago, an increase o.
| ia per cent. About 80 per cent of thi,
| amount is to be used in refunding. Sc
| curities maturing in October are esti
mated at 23.0o0.000. compared with $14
! 00O, 900 in September and 100000 in Sep
TENDER last year.
! New and large corporations formed. dur
1 ing August have a total capitalization o
i SITE, 900, 000 compared with $500 900, 900 il
| July, and $l4s, 100000 in August. 1915.
Dividend and interest disbursement
during September will total $14s, 900, OO(
compared with $115. 900 in September
year ago. OF this amount. dividends vii