Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-03-01
RAILROAD EARNINGS
FEATURE TRADE LETTER
Volume Of Traffic Is Due 10 In.
creased Movement of
Merchandise.
WHY GASOLINE is SO nIGil
Enormous Increase in Demand In
Recent Scnrs-Highcr Wages Add
S25,000, 100000 to Annual Cost
Of Living i'm This Country.

The volume OF domestic trade now
being enjoyed is perhaps hes, evidenced
by the tremendously imureaaed railroad
earnings" says the general letter on
- .no conditions ana business fore
east Tor the month of March Of The
american NaI ionai Sank. which vas
made public y.st.rdav Those I'm.
creased earnings are IN evidence in
those sections where "a lighter crop
movement has obtained clearly show.
inS that the volume Of traffic is due
TO Increased movement Of merchan-
'iisc."
~ is noteworthy. TIE letter states
that of the $3.50. 100000 Increases
shown In exports Of last year as com
Jared %ith Ia" year before. approx
ni'tciy ~ per cent was made mp OF
'podStuffs, while 90 per cent OF the
total WAS ia wholly or partly manu-
featured goods. The increase ia cx.
ports To neutral countries outside Of
Europ" WAS $l3l.o00 coo. ENnor,s to
Germany direct declined $IiG.0oD. 900
but 10 Holland. NORWAY, Sweden aud
Denmark. neutral countries whose Dor
der lines reach Germany. the exports
Increased by sl5i,G0O 0Oc from which
II nay be assumed that Germany ~
probably receiving the usual quantity
az American goods. although Indirect
".
BANK CLEAHINGS SHOW
ENORMOUS GAIN
Tho bank exchanges in January ut
ls2 principal citie. were 500. 900. 900. 900
compared with well over $4,000. 600, 600
IN January. 1915, All increase Of 4?
per cent. Only twenty-five OF the
iGe cities included In this figure showed
less clcarincs than I'm January OF last
year. and most of the losses were very
small. while gains made at other cities
arc. in many cases. large, and some
cities made a new record for monthly
clcaringc during January.
February dividend and interest dis
hUrScmcnt. the latter says, viii total
1881 600. noc compared with si2l 600. 600
in February Of last wear. OF this
amount. interest payments win total
So, 10000 compared with $4,000. 600
> year ago. and dividend dsburse-
mcnts w,li be Ss6 o0o, 900 as against
s6@.h0n,o0o in February. 1915. \ classi-
fication %! the dividend payments shows
that iai 600. 900 vii! hc paid out br
industrial companies compared with
S2j,noo.6n0 last Year, while combined
steam railroads ana street railway pay
mcuts viii total So 0O0.oou. against
~ Ooo. "or les the same month ~ last
yo;sr.
Building Operations dur.na January
~ l3n lcndul. cities totalrd $4,000
1on. Az against tis.0G"ooo i'm January.
l"l5, gain Of 20 per cent Although
January building Was the smallest for
c,.vcn months, {; Was tho larucs, &C
,uy January since 1918. .! II" 80
sites, Afty-two showed decreased
operations when compared with last
~"Ar. while ei@htv-sevcn showed gains
ORDERS PLACED Fon
NEW RiILROID CARS
lrdcrs were placed last month FOR
221 railroad cars. compared with
100 ~ January % las, year. This
ms the largest number OF cars ordered
any one month since June. 1915.
feu freight car orders alone totalcd
',s6i or the cars ordered in Janu-
=, 3Sa were passenger cars ana 81
40 Of III" freight cars We're for for
.-.'yn account Rails ordered during the
month iotalcd 2il.oOo tons. as against
llJ.0a0 tons in December and zoo 600
tons in January "f last wear. There
were also 25S locomotives brought dur
ing the month
Recent estimates according 20 The
trade letter, rlacc the production OF
Gasoline for 1915 at $500, 600 barrels
compared with 3i.yIs.uur barrels in
1914, 100000 barrels In l"n" and g.
H"6.n00 in 1901 Since the production
% crude oil has not advanced in any
thing Ike this proportion. and. assum-
iuE that this production OF gasoline Is
consumption, one max hnd hero some
".ason for recent advances in the price
cr gasoline.
The trend OF comm odity prices and of
wages has hccn strongly upward for
.'oplc time. the increases already cf-
fective meaning Ar increase Of fully
$4,000. noo,0op in the annual cost OF liv
ing OF the people OF this country. That
this increase cannot go on indefinitely
is clear. the letter says.
In spite al hundreds Of voluntary
wage Increases. the letter says. IN con-
clusion shortening OF labor hours aud
improvements In working conditions.
numerous demands OF large labor or
canzations are still pending, notably
hat OF the organizations of railroad
men. Labor is generally we'll employ
ed and well paid. ana II 1915 shall prove
"a be year of peace and a good crop
year, II will undoubtedly set new
,..,is +. fr,- H..