South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-10-07
BANK CLEARINGS
TAKE BIC JUMP
Volume of Business Indicated
by RepOrtS-Many New
Corporations.

A business forecast for the month
Of October. issued by the First Ma
tioual bank OF south Bend says.
Our report on fundamental con
ditions which follows needs little
introduction. Figures in basic lines
as a whole show an easing off
which should not be taken 10 mean
that business is Getting dull In
many cases orders are not being
placed because there is little hope
of having them filled I'm the nest.
future Almost every industry is
working at capacity. The labor
shortage, due 10 men withdrawn
from their usual occupations for
war service. coupled with am un-
usual number of men on strike. is
really the only deterrent factor
I'm bank clearings for August we
find the most definite and easily
measured index of the tremendous
volume of business and the heavy
movement OF money still in evil
dence. Clearings at ISL cities for
August We're $25,099,OOO 600 COM
pared with S19,S14.O0O. 900 a year
ago, while clearings outside of New
York city were S10.419.000. 900 com
pared with $S.O47,OOO. year
ago. gain of over % percent for
the country al large. while the gain
i'm New York city was only % per
cent
Merchandise exports for July
were only S374,0OO, 900 AS compared
with $576.000.0O0 month ago and
S445,0OO,000 year ago. Imports
we're S226.0OO. 900 compared with
s507. 100000 month ago and
s1S3.0OO.0OO year ago. Our fav-
orable balance of tr1Ge for the
month was only S14S,cO0.0OO com
pared with $269.OOO.0OO a month
ago and S262. 900. 900 a year ago.
1914 Failures.
Commercial failures during Au-
gust numbered 1,O74 compared with
.O93 a month ago and 1854
year ago The liabilities of the
failed concerns were sic. 100000
compared with S17,OOO.OOO a month
ago and $4,000. 600 a year ago. The
assets were approximately $4,000
600 compared with S12, 100000 a
month previous and 100000 "A
year ago, leaving a very material
Improvement in the failure situa-
tion as compared with year ago.
New and large corporations form
ed during August had a capitaliza-
ton of S4G2, 900 compared with
S493. 100000 in July and S175,0 0O,
coo a year ago.
Financing for August amounted
10 S1S6, 100000 compared with
H.. 4
financing was $4,000 600 compared
with $SO.OOO.OOO a year ago. and
industrial companies accounted for
s131. 600. 900 compared with only
$50. 05 Q. goo for August. 1916 was in
notes as compared with $1,000
600 OF notes issued in August of
1915. OF the $51,00O,OOO of So
curities maturing in September.
S3s.OoG 600 is covered by railroad
securities. $1,000, 900 by industrials
and $4,000. 600 dollars by public
utilities companies
Commodity prices. according to
Bradstreets Index were S16.64 on
Sept. lst compared with $500
month before and $11.7S a year
ago During the month SO COM
modities advanced. so declined and
80 remained stationary. Using
Dun's index. prices were 215. on
sept. LIST compared with 219. a
month ago and 152. a year ago. the
principal decline being in the bread
stuffs division.
The first report Of cotton gin
ming fer the season shows $4,000
bales ginned up 20 Sept. LIST. COM
pared with $4,000 bales 20 this date
a year ago and 464. 900 bales 10 the
same date in 1915. Consumption OF
cotton for August was $4,000