The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-12-01
new RECORDS AGAIN
SET IN NOVEMBER
Bank Review Points Out
Both Favorable and IN
favorable Aspects
of Situation

The general letter on trade conditions
and business forecast for December is
sued by the Birmingham Trust and Saw
ings company reads in part as follows
The business story of the past month
is in the main a repetition of that of most
other months in 1916; in other words
high record marks in many lines of trade
established several times during the yeai
only to be surpassed the succeeding
month have once more been set up. Thai
business has attained the enormous to-
tails recorded below in spite of the fact
that some factors are at present Sc
riously hampering its advance, speaks
eloquently of the size and extent of COM
mercial and industrial operations.
Bank clearings at 1862 cities in october
totaled nearly $4,000 0OO, 900, compared
with $2O,OOo, COO 900 in October of last year,
a gain of "a per cent Excluding New
York city, clearings were almost s1o,-
COX, 900, OO0 compared with $1,000 900 a
year ago, a gain of 27 per cent This is
a new high record for bank clearings
for any one month. OF the 1872 cities,
1873 made new records for october clear
ings and 81 cities made new high marks
for any month
Our favorable balance of trade con-
tinues to mount to hitherto unapproached
figures, totaling $S49, 100000 in September,
compared with 1911, 900 in August, the
previous high record, and S149 600 in
September, 1915. Our September exports
of merchandise amounted to $513,0O0O0O,
compared with $500, 900, 900 in September of
last year and September. imports were
s164, coo 900, compared with $151,ooo0oO in
September, 1915.
Building operations in October at 1853
cities were SIS, 900, compared with ST.
900, 900 in October a year ago, gain OF
% per cent. The October total sets a
new high record for that month.
Gross earnings of 46S railroads in Sep
TENDER totaled 1898, 100000. compared with
1924, 100000 in September, 1915. a gain OF
10 per cent and net earnings totaled $124,-
OOO, 900, compared with $112,00O,O00 in Sep
TENDER of last year, a gain of IL per cent.
Gross earnings of Al railroads in October
totaled $50 900, 900. compared with $7,0OO,-
600 in October of last year, a gain of
per cent. The movement of cotton in
recent weeks has been considerably
iarger than during the corresponding Pc
rod of last year, while the movement OF
grains has been much smaller than a
year ago. Railroad earnings, both gross
and net, do not show such large per-
centages of increase when compared with
a year ago as in previous months of this
" ar, as comparison is with somewhat
10 icyl1ra n hos hean the
Dividend and interest disbursements
during November will total S154, 900, 900,
compared with 900 in November of
last year, being the largest disburse-
ments ever made in November. Interest
payments will total SOL 100000, compared
with $50, 600 a year ago and dividend
disbursements will be $63, 100000, COM
pared with SIS, 100000 in November, 1915
There are many initial, increased and
extra. dividends being paid in November
and the interest payments are based on
larger bond and note issues than was
the case year ago.
There were 8619,OO0 bales of cotton
ginned from the 1916 crop to November
l, compared with $4,000 bales to the
same date last year and 9,827, 900 bales two
years ago. Domestic consumption of cot
ton in October totaled 5o5,000 bales COM
pared with $4,000 bales in October, 1915
OcLOper COTTON exports dBBTeBdleQ oVI,
600 bales compared with $4,000 bales in
October last year Stocks of cotton on
November l in consuming establishments
were /, 723,000 bales, compared with 1,346,
900 bales a year ago. and stocks in pub
lie storage and at congresses were $685.
900 bales, compared with 4,11,0OO at the
same time last year. There were 32,545,-
600 cotton spindles active during October
compared with 3l,37S,000 active in October
last year The cotton crop, as reported
a month ago, is estimated to be Ii, 637, 00t
bales, compared with 11,192.000 bales last
year, and 14,2590O0 bales, the average
for the previous five years.
The governments preliminary estimate
of the 1915 crops indicates a yield OF
2,644, GOO 900 bushels of corn, compared with
$685., 100000 bushels last year, and 2,733,
100000 bushels, the five-year average
Wheat Cos, 900, 600 bushels, compared with
,012 600 900 bushels last year. and 72S, 900, 0O(
bushels, the f1ve-year average Oats
l, 22s, coo bushels compared with $4,000
900 bushels last year. and LIS 900, 900 bush
els. the five-year average. Barley 1874,
100000 bushels, compared with 237, ,O0t
bushels last year and 1S6,00O000 bushels
the fve-year average. Rye. 100000 bush
els compared with 100000 bushels last
and IS, 900 900 bushels, the five-year aver
age White potatoes, 2S9, 100000 buseels
compared with 1853, 100000 bushels last veal
and 361, 0O0, 900 bushels. the flve-year aver
age. Sweet potatoes, 6S,000,000 bushels
compared with 100000 bushels last veal
and s., 900, 900 bushels, the five-year aver
age Tame hay. 100000 tons, compared
with s., 100000 tons last year and 66,000O0
tons, the five-year average, while the croI
of wild hay is estimated at 100000 tons
compared with 210O0,00O tons last year
The tobacco crop is 1,146,0O pounds
| compared with 1861 100000 pounds las
Eyear, and 9s2, 100000 pounds the five-yeai
average. The crop of flax seed is est