The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-09-10
GENERAL PROSPERITY
BETTER DISTRIBUTED
Extends to Greater Number OF I'm
portant Centers Than In Long
Time.
BANK UIlEARINGs
INCREASE.
Fewer Business Failures Recorded
As Conditions Generally Improve.
Optimistic Forecast BY American
National Bank.


National Bank.
The following Is the general letter
on trade conditions and a business
forecast for the month of September.
/ 1916. issued by American National
Bank, of this city:
| Although business totals In few
/ lines have declined in the past month.
our general prosperity has become
better distributed and now includes
greater number of important GEN.
ters than at any previous time. Pros
poets for a smaller wheat crop and
the danger OF a strike on the rail-
roads have not seemed to affect COM
mercial activity adversely, the de-
creases which have occurred being
rather a continuance of the gradual
REIMBURSEMENT which has been going
on for the past few months.
/ Exports of merchandise during June
totaled 465 million dollars compared
with 269 million dollars in June of
last year. and imports aggregated 246
million dollars compared with 15S
million dollars a year ago. making
favorable balance OF trade for June
of this year of 219 million dollars
compared with III millions in June,
1915. and compared with a favora Bile
balance of 243 million dollars in May
OF this year.
Merchant shipping from this coun-
try made new high record In the
fiscal year ended June 80. 1915, Amer
lean and foreign ocean traffic clear
ing from the seaports Of the United
States during the year totaling u.s.
4I5 thousand net tons compared with
"a, ST2 thousand net tons in the fiscal
year 1914. which was the next larg-
est year. OF the 1916 total. Ameri-
can shipping contributed 2.44s thou
sand net tons compared with 745
thousand net tons in 1914.
Gain In Bank Oearfngs.
Bank clearinss during July at 1862
cities aggregated 10 billion dollars
compared with / 6 billion dollars in
July Of last year, a gain OF 80 per
cent increases being shown by ISL
of the reporting centers Outside New
York city, clearings were nearly eight
billion dollars compared with six bill
lion dollars year ago. a gain OF 81
per cent
There were l,1ss business failures
in July compared with 1891 in July
of last year, and the liabilities Of the
tailed concerns aggregated nearly
leleven million dollars compared with
II million dollars for the failures a
year ago These figures compare with
1888 failures in June OF this year with
liabilities of ten million dollars
FINANCING by corporations during
July totaled 1856 million dollars com
pared with IS million dollars in July
or last year. an increase OF 100 per
cent. It 10 estimated that fully 80
per cent OF the financing done in
July was used to pay off maturing OBJ
legations, Securities maturing In Au-
gust will total % million dollars. and
an early compilation OF September
maturiues shows a total OF only IA
million dollars compared with 50 mil
lion dollars in September a year ago
The total capitalization Of new and
large corI<rations formed during July
was $40 million dollars compared with
1873 million dollars In July last year
Dividend and interest disbursements
during August will total ISL million
dollars compared with 12I million dol
lars In August. 1918. Dividends paid
In August will total IS million dollars
compared with over 81 millions in Au-
gust last year and interest payments
will aggregate IS million dollars COM
pared with "a millions a year ago The
dividend and interest total for August
marks new high record for that
month.
July sales Of stocks on the New
1 l.
lion shares compared with thirteen
million shares in June and fourteen
million shares in July, 1915 Bond
sales IN July totaled 81 million dol
lars compared with 50 million dol
lars in June and SIS million dollars In
July, 1918. The average price of a
selected list OF 50 stocks at the close
OF July was 1904 compared with 102 3
a month previous and sS.ls year
previous. The average price of thirty
selected bonds at the close of July
was s14l compared with s1.ss a
month before and S7,52 at the close
OF July. 1918.
| Total money in circulation on Au-
gust ! was 1000 million dollars COM
pared with 4,01s million dollars on
July l and 1854 million dollars on
August l, 1915. The per capita cir
culation on August was $4,000 COM
pared with s39.2s on July /, and
$3.50 on August of last year. The
population OF the United States is
estimated to be 102,574 thousand per-
Isons compared with 10o.s67 thousand
Ioneyear ago.
Gross earnings OF 10 railroads in
June were ISL million dollars COM
.tpared with 50 milton dollars IN June
a year ago, a gain OF 10 per cent and
met earnings for those roads aggre-
gated SO million dollars compared
with so million dollars in June 1915
a gain Of 26 per cent. A more COM
plete gross earnings report for June
gives a total Of 266 million, dollars
compared with 222 million dollars in
the same month OF last year. a gain
of 20 per cent.
July orders for railroad cars totaled
10,402 compared with s,s57 cars or
dered in June and $500 in July of
last year. Car orders would undoubt-
eddy be larger could the manufactur-
ers obtain the necessary raw ma
terials. Locomotives ordered in July
numbered eighty-one compared with
326 in June and 40 in July, 1915.
July rail orders aggregated ~ thou
sand tons compared with SIS thou
sand tons in June and 24o thousand
tons In July year ago.