Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-06-10
BUSINESS COMPARES WELL
WITH THAT OF LAST YEAR
Trade Letter Sounds Optimistic Note
IN Report on Present
Conditions.
ALL CROPS ARE ENCOURAGING
Winter Wheat Production VIII Show
Substantial Increase Over Last
Year-Economic Use of Grain
Means Much to Europe.

"a comparison OF fundamental bust
ness conditions to-day with a year ago
| shows an increase in bank clearings.
| interest payments. money In circula-
| tion, stock of money In the country,
| railroad gross earnings. railway equip
ment orders, coal and oil production
and {. most excellent crop outlook, all
| of which are favorable factors" de-
| clares the American National Bank, In
| it's general letter on trade conditions
| aid business forecast for the month
| OF June. which was made public Sat-
| urday.
The factors making an unfavorable
| showing in the comparison are the de-
| creased dividends. much smaller build
ing operations. larger exports OF gold
| and small exports of mercha ndise." the
| letter continues. The Increased ex-
! pert ot gold need not necessarily be
! considered unfavorablc, as our gold
| supply Is ample. The apparent de-
| crease in volume of merchandise ex-
ported is probably more than offset
| by merchandise sent 10 France on
transports. which is not included in
the report OF exports. on the whole
! present business conditions compare
| fayorably with year ago"
| CoUNTRf's BANK CLEARINGs
| SHOW SUBSTANTIAL INCREASE
| Bank clearinGs at the principal cit
les OF the country amounted to more
than s26.oOooOo,Ooo IN April, increas-
exclusive of New York City clearings
| they increased 90 per cent Total
| clcarings for April set a high record
| for the month, and more than 100 OF
| the principal cities set new high
| mark for April March merchandise
exports were valued at 1881 GOO. 600
| compared with s412,oo0,o0o II. Febru-
AIRY, and 1854 900, 600 year ago.
| Imports during March were s2i2,-
! 100000. compared with SOS, coo, 600 the
month before and s27O.ooo,ooo year
ago The favorable trade balance for
the month of March was S2Ss.000.O0
compared with sao4OoO0oo the month
| before. and S2S4o00,0O0 a year ago.
business failures in April mum bered
| $50, as compared with $50 month
ago and LOSS year ago, the number
! OF iailed concerns making the smalles,
/ April record in eleven years. Liabili-
TICS OF these concerns were $4,000, 600
compa1 ed with 100000 a month ago
I and sl2.ooo.00o for April. 1917.
FIGURES SHOWING GROWTH
/ OF INDUSTRIES ARE CITED
TIE letter goes into a discussion OF
Practically every phase OF the indus
| trial life o! the United States. citing
! ilSures On tac growth and condition OF
! nearly every recognized Industry. AS
]
/ that conditions compare very favor
/ ariy with year ago" the figures
e'Ten bear out this assertion
IN conclusion. the letter summarizes
| c:ol conditions as follows:
| The last Federal report on crop,
indicates winter wheat production Of
| oI3,0oo.ooo bushels, a gain Of 1900 nm
ousheis over the condition a month
/ a5o. ana an indicated increase OF l55.
ovo'eoo bushels over last years crop
me rye croL is now estimated at s3'
"9coe bushels, compared with GO 600 :
coo bushels last year The produc,ion
OF hay is estimated Mt los, 600 600 IONS
compared with $4,000, 000O tons a wear
$50. spring wheat planting is nearly
rnished In the far north. and winter
wheat harvest has already begun In
~. ai,, iar south. Never since crop CON
, nave been generally reported
mas the outlook for the nveraea NJ ar
! crops neen better than it is at this
s,ns, ihis prospective big grain CROP
coupled with more economical usa n.
grains in this country. would MAJ
snu'h e the people of Western Eurone" "