El Paso herald. (El Paso, Tex.) 1901-1931, 1917-06-30
BUSINESS GOOD
MALL SECTIONS
First National Bank Re
ports Big Dividends and
General Activity.

letter on trade conditions and bust
ness forecast for the month Of July
issued by the First National bank.
some Industries have developed
unusual spurts Of activity in the past
few weeks. adding new volume to an
already large business and extended
future contracts; shipbuilding is a no
table example of this condition.
says the statement. Naturally such
movements are indirectly strength
ening to many other lines. Indeed,
building operations are practically
1 the only factor which does not record
large total for the past month.
Bank clearings during May at 116
cities totaled over $4,000, O0O, 600.
compared with S25,0O0, 100000 in
April and nearly S21,OOO, 100000 in
/ May of last year. May clearings were
Z the largest recorded so far this year
and were only q little less than the
record clearings Of December. 1916.
Outside of New York City clearings
/ totaled nearly $1,000, 100000, COM
pared with $S,OO0,OOOse-9 in May OF
last year. Only Is Of the reporting
cities show less clearings than year
ago.
Railroad Earnings Big.
Gross earnings Of 4l3 railroads in
April aggregated 327,0Oo,OOG, COM
pared with $3.50. 100000 in April, 1916,
a gain OF Is percent There WAS prac-
ucaly no change in the net earnings
of these railroads, which totaied $685.
100000 in April of both this year and
last year. Operating expenses OF the
roads continue to increase, there hav-
ing been a gain in this item in April
of IS percent over = year ago, which
fact is responsible for the lack OF
gain in net earnings.
May building operations at 156
cities aggregated S75,000,O0O, COM
pared with SIS, 100000 in May of last
year, a decrease OF IS percent This
total Of expenditures is the smallest
reported for May for several years
and compares with operations in
April at I61 cities OF $S4.O00.00O-
Lumber, Pig Iron, Steel.
There were 1O40 million feet OF
lumber cut in April compared with
1856 million feet cut in April last
year, and April lumber shipments to-
tailed 1927 million feet. compared with
I101 million feet in the same month
q year ago.
PRODUCTION of pig iron in May to-
tailed 3417 thousand tons, compared
with 1885 thousand tons in April and
1861 thousand tons in May a year ago.
The average daily production during
May was ITO thousand tons, compared
with Ill thousand tons during April
Oil, Ccal and Coke Shipments.
The untitled tonnage Of the steel
corporation on May 81 was 1887
thousand tons, compared with 12,1S3
thousand tons a month before and
1888 thousand tons on May 81, 1916
Shipments OF Anthracite coal dur
ing lay amounted to 691S thousand
tons, compared with $500 thousand
tons in April and 554S thousand tons
in May OF last year.
Shipments of bituminOus coal over
dc IN Tar~ 100 ~sad hn.nr
sand cars compared with 65S thou
sand cars in April and 59S thousand
cars in Nay a year ago, an increase
when compared with last year of
nearly "a percent.
nellsville district in the five weeks
ending June totaled 1892 thousand
tons. compared with 1888 thousand
tons in the month of May, 1916, and
shipments for the five weeks were
1887 thousand tons in May of last
year There were 3S,141 ovens in
blast on June ?. compared with u.s.,
142 on May 5.
oil wells completed, compared with
1855 completed in April, and the new
production of oil for the month totaled
1O5,e00 barrels, compared with $4,000
barrels in April
Copper, SpeIter and Gold.
1T is estimated that refined copper
produced in May totaled 1S5,00O,O00
pounds, compared with 1S0,0O0,0OO
pounds in April and 10000, 900
pounds In March. Final copper fig
ures are now available for 1916 and
show that the total apparent con-
country last year. which is figured
from production, stocks and exports,
was 1870 million pounds, compared
with 1913 million pounds in 1915 and
10000, 600 pounds in 1914.
Receipts Of zinc and spelter at the
principal market during May were
100000 slabs. compared with $4,000
slabs in May. 1916, and shipments
from that point totaled $4,000 slabs, /
compared with $500 slabs in May a |
months, zinc and spelter receipts at
this point were enormous during May
and indicate a considerable increase I
in the visible supply.
'Transvaal gold production in May I
totaIed $4,000 fine ounces, compared 1
with $4,000 ounces in April and 49, /
900 ounces in May last year.
Corporations stu Form.
New and large corporations
formed during May had total CAPT I
talization OF $4S5,oo0.0Oo, compared /
with S439, 900, 600 dollars in April and /
sSl2, 100000 dollars in May, 1916. This /
is the highest monthly total of incor- |
porations for some time and such
lines as iron and steel, copper, ship /
building, oil and chemicals were well /
represented in the many charters.
June dividend and interest dis /
oursements will total $166.000,00e 1
which is by far the greatest total /
ever paid out in June and compares /
with SlSS,O00,O00 dollars in June Of .
last year. Dividend disbursements I
VIII aggregate SSS.OO0,0O0. compared 4
with S65.OO0.000 in June, 1916, and in
terest payments will amount to $i6,-
OOO,OOO, compared with 100000 a |
year ago Securities maturing in July /
are estimated to total over S64,OOU,OuU, i
compared with sec, 0OO, 200 in June and 4
S94'OOO'UeO in July of last year.
Money in Circulation.
Total money in circulation in the 4
united states on June 1 was S4.1S1,- 4
0eO,o00 dollars. compared with S4,737.-
000,O00 month before and S3,924,- /
0OO.0OO a year ago. This is the first l
decline In the amount of money in /
circulation in ten months. The circu- !,
latlon Der capita on June l was S40.49,
compared with S45.61 on May l and
SSS-56 on June l of last year. The
population of continental United /
states IS now estimated at 104, 100000. \
compared with 102, 2S9,O00 one year
Domestic consumption of cotton
in May totaled $4,000 bales, compared
with olo'VOO bales in the same month
of last year. Nav cotton exports
amounted to $4,000 bales, compared
with 5IO.OOO bales in May Of last year,
ana imports were 1900 bales, COM
pared with $4,000 bales a year ago
Retail trade is showing some i'm
provement, and as long as wage ad-
Vances continue as numerous and
SUBSTANTIAL as at present, retail bust
ness nav ne There ]