Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-03
UNUSUAL PROSPERITY IS
shown BY TRADE LETTER
Rusiness Men. However, Arc Keep
ing Their Heads and Tending
Towards Conservatism.
GOsT OF LIVING GOES UPWARD
Bradstreet's Index OF Commodity
Prices Puts This Factor at $16.4O
- ON August 1 as Against $11.44
~. One Year Ago.


One Year Ago.
,salJnprecedented prosperity through
Ont the United States. despite the ac-
I tive participation Of this country in
the war. is set forth in the general
letter on trade conditions issued by
the American National Bank. of Rich
mond. for September. Business men.
however. are Keeping their heads, do
& spite these favorable conditions and
ARE tending toward conservatism and
reduction in the volume of trade: be-
ing guided by the three fundamental
factors in the industrial world, la
Dor, prices and transportation.
Thanks to the work Of the commit
tees OF priority Of shipments, at Wash
ihxton, the all-hnportant factor of
providing cars and ships to move raw
materials and finished products is
growing more and more satisfactory
overy day, and unless new labor trouble
Is encountered. this shortage will soon
hes overcome.
Bank clearings are usually the cri-
terra accepted as showing the prosper
1ty of any country. and those for July,
z LIS cities, totaled approximately
$4,000 o0o, 900, as compared with sl9.-
I 0o0o00,oo0 IN July year ago. And
he same satisfactory showing is made
tn the decrease in business failures,
RSfe having been only 1893 in July,
asha6ainst l.1S5 for the same month
In 1915.
New corporations were formed in
July, with an aggregate capital OF
$49a, ooo, 900. almost SIS per cent of these
being capitalized for more than a mil
4 = ~ WI a nfas nit li1o
ton of $500, GOO for the previous
yeaf.
EXPORTS AND TRADE
go BALANCE ARE FAVORABLE
t4Exports for June from this coun-
Try amounted to S576,o00,000, as against
$46Sr0eO,o00 in 1916, giving a favorable
trade balance Of S269,0OO.0 900. compared
with ;21s,00o,o0o n year ago.
Another healthy feature in the in
dustria world is that the financing re-
sorted to by large corporations for
July of this year was Sl,O00.0o0 less
than year ago, the figures being $780,
100000 and $l36,Oo0.000. respectively
OF this financing. the railroads issued
$35,o00,000, as against $S9,000,oCO.
For August of this year. the dividend
and interest disbursements will total
$160.oo0.000. compared with $4,000
600 in 1916.
On August l. the money in circula-
ton IN the United States amounted 10
S4,$52.00e,000. as against $4,000 900
a. year ago. giving per capita cir
culation of $46.53, compared with sag
In 1916.
That the transportation problem is
being effectually solved is evidenced
by the fact that shipbuilding corpora
lions formed during July had a total Of
Sls,00O,00o, as against 1000. 900 in 1916,
the total capitalization of such COM
n cciy, IL
being $33o.00o.000, about 60 per cent of
this amount having been Incorporated
during the first seven months OF 1917.
AEain, $500 freight cars and lis loco
motives were ordered during JULY,
as against 1,514 freight cars and TWEEN
ty-hve engines in 1916, the foreign or
ders for locomotives being 1,00S, com
pared with twcnty-scven n year ago.
The gross earnings of ass railroads
Tor June Of this year totaied 1851. oo0.-
600, compared with 1901 ,O00, 900 a year
ago. gain of l6 per cent, net earn
ings being s114.ooO.OoO, rs against
sos, 00o, 900 a year ago, net increase
OF 10 per cent.
BUILDING OPERATIONS
ALONE SHOW DECREASE
A,in building operations alone does
July OF this year show loss being
$61-0oo,0o0, as against Sl2l 900. 600 in
1915, but this falling of is readily cx-
plained by the shortage Of labor and
tho rush of the available. workmen TO
the building of the army environments.
Our old friend. High Cost of Living,
however, has kept up with, or rather
outrun, other gains. According to
Bfadstreet's index Of commodity prices.
this stood at sl6.4O on July l Of thi,
year.
There has been a great increase IN
Domestic consumption OF cotton, 5i1.-
oeO bales having been used in JULY.
compared with 49o.o 900 in 1916. On Juiv
II. the stocks of cotton in consuming
establishments totaled l,499,Ooo bales
as against 1.632,000 a year ago, the
stocks In public storage. and at COM
! presses being $4,000 bales this year
and 100000 in 1916. During JUL. Of
this year there were 33.3o7. 900 cotton
sptndles In USE compared with 32.27o,-
geo active in July, 1916.
.sStocks OF tobacco in this country on
July l were announced as 1867 oO0. 0n0
pounds, as against Laos. 600, 900 mounds
ON April 1; 1.o45. 100000 pounds on
January I. and 1888 .OOo. 900 pounds on
8 october I, 1916.
Shipments of bitumnous coal over
ninety roads in July totaled 7s5 nm
carloads. compared with s35.ooo n ye,r
ago. Anthracite shipments totalcd
6.724 tons in July OF this vcar a,
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