Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-09-08
COMMODITY PRICES ARE
LESS THAN LAST YEAR
Bank Review of Trade Does Not
Justify Epidemic Of
Profitecring.
FOOD PRICES ARE INFLATED
Hope Expressed for Reckoning
Richmond's Reputation, Since Lo-
cal Food Administration Now Has
an Enforcement Division.

August We're practically 80 per cent
below those for July and 81 per cent
below those of Il year ago. according
TO report just issued by the Ameri-
can National Bank, and based upon
ngures obtained from the Bankers
commodity Price Index.
While these figures are based upon
natlon-wide Investigations. ana do not
apply specifically to Richmond. it is
prices in other localities a slight lessen
ing OF pressure on the ultimate con-
sumner is bound to be felt here soon
especially so since the enforcement di-
vision of the Federal food administra-
tion has been rcorSanized and placed
under the direction of men whose bust
ness~it will be to sec that prottccring
Is reduced to minimum.
Along with tho cheering news as to
commodities. the bank also cites other
favorable indications in the business
these are the greatly increased bank
clearings. fewer business failures
heavier bond sales, increased output of
duction OF iron and ores. increased con-
sumption of cotton and continued ia
rorable outlook for unusually good
crops OF all kinds.
TRANSPORTATION CONDITIONS
BUT LITTLE IMPROVED
pointed out. however. are but little
better This: coupled with the fact
mat dividend disbursements arc les
kets are not in as eooa ahH @9oi c mnr
De uesifed. servo to slightly counter
aging tone Of other reports
The banks report, in part, follows:
Bank ciearings OF the principal cities
Tor the month OF July totaled nearly
S2a,o00, 100000 compared with s27,0O0,-
uoo,0t0 the month before. and $4,000
100000 year ago. Ciearings exclusive
OF New York City were $4,000. 0o0. 900.
compared with $1,000. 100000 a month
ago. and slo.0o0.ooo.ooo a year ago. the
increase being 26 per cent. Total bank
clearinSs for the month OF July cstab-
iished new record for any month.
were valued at SASS. 900. o0o, compared
with $3.50. 200, 900 the month before. and
80 100000 in June of last year. I'm
June. compared With s$2S.ooSc 900 the he
month before. and 1907, 900. 600 in June,
1917. The balance of trade in our fa-
a 0T with sSns SOC %ox nd
$780,. 100000 in June OF last year Mcr-
chanhse carried abroad in United
States TRANSPORTS, is not included in
published export figures.
business failures during July num-
bered IT'S, compared with T76 a month
ago. and 1923 year. ago. this being
since July 1907 Liabilities Of the failed
concerns were Sll.000,O0O, compared
with 100000 for those which failed in
l.VV
in July year ago
billions BEING PUT
INTO MUNITIONS AND SHIPS
The total authorized capital of all
new shipouilding, munition, airplanc,
chemical and oil firms organized during
! !tsSy oO Vas as s4s,ooo.oo0 compared with
s2.774. 100000.
Ship iaaunehings during July num-
weight tons. which is more tonnage
than this country ever launched in a
year yess S9fore n ps5 July
weight tons were completed. Launch
inSs for the calendar year to August 1
nave totaled l.720.0oo deadweight
tons; since June l the American ship
faster than the British yards.
Building operations for June in the
rGir ei1ies d 5o,a Lee s46,ooo,oo
decline OF 80 per cent These firurcs
are for the principal cities only, and do
not include government building going
on at cantonments aud in the smaiicr
cities.
The lumber cut during June totaled
NJ. IL 10000; ZOO; 900 feet compared with l,49s.-
year. and shipments were 1925. 0Oo, 600
[ect. compared with .5Sl 900. 900 feet
year ago. As all mills have not yet
tual decline in production is not as
large as is indicated by the above fig
urcS.
Production of bi,uminous coal dur
ing June amounted TO GOli7,oOo tons,
rompared with 46,s90,ooO tons in May.
and 47,T53.o00 tons in June, 1917.
hi,uminous production for five weeks
compared with 54.425, 900 tons for the
corresponding period OF last year. An
lhracite shipments for the calendar
cess Of the same portion of last year
Consumption of cotton during July
Vas $4,000 bales. compared with
SSs'o9o bales year ago, and on the
bales on hand. compared with 2.3S7ooO
7 i ~ 90, year ago; During July 49,
. 1000 cotton spindles were active. com
July 0. last year
CROP ESTIMATES COMPARED
WITH LAST YEARS PRODUCTION
Latest crop estimates indicate n pro-
. NctIon for this year Of 13Gl9,o0o
ua!es OF cotton, which is probabl.,
g1newhst low; S7S.0OO.Oo0 bushels
u, cheat. which is believed to be low;
., 1900 900 bushels OF corn. 1,42S.oo0.-
y: barley. 77,oho,o00 bushels of rye,
:: Hl1 900 bushels OF buckwhcat, 39l,-
tt.9'''o bushels Of potatoes. $1,000
's'3 fth pounds Of tobacco. $4,000, 900
n,.za.lg Of naxseed 10000. 900 bush
- ~ rice, sa:ooo.co0 tons OF hay.
T-lbp.'DD IONS OF sugar DectS, lgN.ODU,-
N1'p bushels Of apples and 1000, 600
D;sneis .! peaches.
the above 1915 crop estimates should
be compared with last years produc
non. which was ! 300. 600 bales OF cot
ton s5l 100000 bushels OF wheat. 3.15a.-
10000 bushels OF corn. 1857. 5000
bushels 81 oats. 2o9. 100000 bushels Of
bariey. 10000. 900 bushels Of rye. Is,
100000 bushels OF buckwheat, $4,000
oop bushels OF potatoes. $4,000 600
bushels OF sweet potatoes. 1,19G. 900. 900
pounds OF tobacco. 1000. 900 bushels OF
faxsoed. 36.ooo.oo0 bushels of rice. o5-
100000 tons OF hay. cocoon tons OF
sugar h"cta. i75,0oo.o0O bushels of
apples and 5000. 900 bushels OF peaches.
tn" only States which are showing
remarkably poor crop output arc
oregon Washington. Montana, Texas
ana Louisiana. Those States showing
unusually good crop conditions and
production far above the average ar.
Minnesota. South Dakota, Indiana
Illinois. Iowa and Wyoming
On the lst OF August prices paid to
producers for the principal crops were
> per cent lower than a year ago. but
20 per cent higher than the ten-yea.
average. Prices to producers OF meat