The Birmingham age-herald., 1916-07-02
CHANGES NOTED IN
 TRADE CONDITIONS
Business Generally Satisfac- tory, However, in Spite of
 Great Upheavals

The monthly financial and commercial review of the Birmingham Trust and Saw ings company is as follows:
 Conditions which have obtained almost since the European war began are rap idly changing and it will be advisable to watch the fundamental lines of trade and finance closely for the next few weeks The present tremendous activity in most lines, notably the metals, is al most surely indicative of the final squirt of buying before a natural lapsing into a more normal situation.
 So many things of great moment con front the business man today that the usual hesitancy and doubt caused by. a presidential campaign are likely to be overshadowed. slight let-up in gen. eral activities would be inevitable regard less of the presidential campaign or pros- poets of war with Mexico, although both of these factors will, of course, affect business conditions to a degree.
 Exports of merchandise during April amounted to 4O4 million dollars compared with 294 million dollars in April, 1915, and imports were 21S million dollars compared with 160 million dollars in April of last
 
 April totaled 1S6 million dollars compared with 134 million dollars in April, 1915, and compared with favorable balance of 196 million dollars in March of this year.
 May orders for railroad cars total S961 compared with 9454 cars ordered in April and 20,210 in May, 1915. Locomotives or dered in May numbered BPS compared with 162 in April and 165 in May of last year. May rail orders aggregated 22S thousand tons compared with 955 thousand tons in April and 14 thousand tons in May a year ago.
 On June 1, there was a net surplus of 55 thousand idle cars in the United States compared with 31 thousand month previ- ous and an increase in idle cars for the third successive month. On June l, 1915 there were 300 thousand cars idle.
 The falling off in commodity prices is in further evidence this month. Following the slight but important recession of May l, Bradstreets Index of Commodity Prices dropped during May from $11.75 to $11.69 on June 1. This compares with $9.74 on June l, 1915. During May, 36 articles increased in price, 33 decreased and S7 remained stationary.
 The condition of the cotton crop is esti- mated to be 77.5 per cent of normal com pared with 80 per cent a year ago. 74.S per cent two years ago and 10-year average of 79.8 per cent. Domestic con- sumption of cotton in May amounted to 675 thousand bales compared with 615 thousand bales in May of last year, and imports totaled 33 thousand bales com pared with 46 thousand bales year ago. Stocks of cotton in consuming establish ments on May 31 totaled 1873 thou sand bales compared with 1799 thousand bales on May 31, 1915, and stocks ill public storage and at congresses were 2l50 thou sand bales compaded with 2440 thousand bales a year ago. There were H ,265 thou nd pared with 31, 11 thousand in May of last year.
 The prospect on June 1 is for winter wheat crop of 469 million bushels com pared with 655 million bushels last year and a five-year average of 495 million bushels a year ago and five-year aver age of 233 million bushels, making the total prospective wheat production 715 million bushels compared with 1912 million bushels last year, and five-year average of FPS million bushels. The prospect is for an oats crop of 1255 million bushels compared with 1540 million bushels last year. and five-year average of 115S million bushels. The prospect is for a rye crop of 44 million bushels compared with 49 million bushels last year and five-year average of 3S million bushels. Condition of the apple crop indicates a yield of 72 million barrels compared with 77 million barrels last year and 66 mill lion barrels two years ago. The average condition of all crops including fruits and vegetables, on June was 98 per cent of the 10-year average compared with 102 per cent on June 1, 1915.
 The average of prices to producers of the principal crops on June 1 was 1 per cent lower than a year ago, per cent higher than two years ago, and per cent higher than the June 1st average of the past eight years. On May 15 the average of prices to producers for meat animals was F per cent higher than year ago, g per cent higher than two years ago, and IS per cent higher than the average of the past six years on that date.
 Quite number of the above figures show new high records for any month, but they should not be taken as indica- tions of new activity. Slight price reces- sions have induced the placing of some business and projects under way have re- quired additional purchases for their con- pletion.
 In general, in spite of the usual political upheaval of a presidential year and in spite of the climax in our Mexican diffi- culties, business must be considered as quite satisfactory. Big industries gen. orally are booked up to capacity with or ders and a continuation of recent sales records is not necessary to their pros- perity Wage increases and the declara- ton of extra or unusual dividends con- tinue with increasing frequency.