Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-04-30
BUSINESS ON EVEN KEEL,
Says AMERICAN BANK
Peace Rumors In Europe and War
Talk in America Fail to
Shake Prosperity.
BANK CLEARINGs GROWING
Railroad Gross Earnings Show Ac-
tivity Is General All Over Country.
Lower Commodity Prices Are Pre-
tlfcted

I'm spite of the numerous peace
sible war In this country, business con-
tlnues on an even keel, and these
rumors seem to have no apprecIable
effect outside Of the investment market,
where they would naturally be felt
FIRST" says the American National Bank
in Its general letter on trade condi-
tons and business forecast for May,
which was made public yesterday.
Enormous exports continue. the vol
ume Of domestic trade is steadily in
creasing and the sum of total com
mercial activity is only slightly less
than a month ago. The difference Is
scarcely noticeable. and applies to only
few lines Demand for money is
increasing, and interest rates are
slightly higher than month ago"
Bank clearings during March, the
letter states. In 1872 cities of the coun-
try, aggregated s21 900. 10000 com
pared with $4,000. 100000 In March last
year. Only nineteen of the cities max
ing the report showed less clearings
than year ago, and the total clearinEs
for the month were the largest OF any
monthly period ever recorded. all tho
losses being small. and many of the
gains very large New clearing records
for March were made by 126 cities
and new records for any month were
made by forty-four.
GROSS EARNINGS OF
RAILROADS SHOW INCREASE
The gross earnings of 472 railroads
In the United States during February
were s26s.ooo.OOo compared with $40
100000 in February a year ago, maxi
Ing gain of IS per cent Tho not
earnings for tho month were $4,000
900 compared with $4,000. 900 last
year, an increase of 81 per cent An
examination of the February earnings
the letter says, shows clearly how
marked and widespread is the coun-
try's industrial activity, gains being
| reported by all classes of roads and
from all parts OF the country, in spite
or unfavorable weather conditions in
some sections. The number of idle
cars increased during April, and orders
for railroad cars during the month
were 21.457 compared with 1886
In February and 1878 I'm March of last
year. Locomotive orders totaled STA
compared with 40 year ago,
! while rail orders were feature Of
the equipment market in March, 1867
600 tons Of rails having been booked
compared with $4,000 tons in Feb
ruary and 10000 tons last March.
On April l the average OF all com
modify prices stood at the highest point
ever recorded, reaching sl176 com.
pared with s11.3s on March /, and sa.7s
on April l, 1915. During March afty-
two commodities increased in price.
eighteen decreased and thirty-six re.
manned stationary
4 WHEAT CROP REyXFNn
THAT OF LAST YEAR
| The condition Of the winter wheat
crop indicates crop of approximately
5oo,ooo.o0o bushels. compared with
655.o0o,00o last year and 6s5. 600
two years ago. The condition of tho
rye crop is nearly two points below n
year ago and nearly four points below
two years ago
steadily increasing gold production, -
the letter states, tremendous increases
in our exports and the rapid growth in
domestic business have together served
to bring about an abnormal level OF
commodity prices. Some decline in
commodity prices is inevitable, and
VIII naturally be felt first in the raw
materials. Lower prices may not reach
l'the consumer to any extent for some
months to come. It is we'll for us to
realize now that the business gain
which we have witnessed each 18th
for more than a year cannot continue
indefinitely. If we remain near our
present level in commercial transactions
FOR few months, nothing better could
be desired"
VIII Initiate Lnrce CI1gs