Every evening, Wilmington daily commercial., 1920-09-01
FINANCIAL NOTES.

The Interstate Commerce Commission ap-
proved Application OF the Pittsburc and
seS,y s rsinla +, RsiTsg ,ss Gompsng for ao
the West Side Belt Railroad Company the
object being TO merge the latter into the
former. It has been controlled through q
subsidiary cnal company
4 new peak in amount OF bank clearings
was reached for the month ended at total
.of 81 .gyA .325, $50. compared with 81 7eq =
3oi 900 the same month a year ago and
s.. lo5. $50. 7o7 for July
Wool growers of the United states lost
$4,000, 900 in the decline TO % cents a
pound In the price Of wool early this sum
mer, according to an estimate of the ma
tional sheep and wool bureau OF America.
The big anthracite companies such as the
Reading. Lehigh Valley and Lehigh Coal
and Navigation today merely add 10 cents
ton TO the prices of coal. the prices this
the miners wage increase. which has TO be
paid dating back from April l.
The railroads of this country" says the
National City Company, have been told
that they can raise their rates That means
that they have been helped 10 earn enough
10 pay labor. TO pay interest on the money
they have borrowed and 10 pay something
TO the owpers (the thousands of stockhoid-
~rs) fer ~n~ money they have put into them
IL also means that they viii be able to buy
cars and locomotives and handle the freight
and PASSENGER business with better results
20 the public"
Trust Company Of New York. the number
of men employed in American shipyards
had been Increased to J5S $50 from as 600
year before. This new army Of snipbuiId-
ers produced in the year ending June 30
1919, ti07 seagoing vessels. aegrega ting
3,14o, PIC gross tons.
While are still far from a proper bal
snce, business is. nevertheless tending to-
ward a surer footing. says the Corn Ey-
change National Bank. Increased produc-
bon, lessened extrava9ance, improved labor
conditions. these. with the promise of bet
ter transportation conditions and good
crops. are the factors which show that any
crisis which may have confronted the couri-
try has in all likelihood been safely passed
There Is no question that during the present
year the tight money market and an over
extended credit situation. aggravated by
most unfortunate transportation eonoi-
how the situation would work itself out
The general business situation" says the
National City Bank of New York has
been developing in a satisfactory manner
during the last month, although this does not
sean that present conditions are all that
could be desired. 1t means that the general
trend is toward normal and permanent
conditions. and that existing disorders are
no greater than might be expected in nc
complishing the adjustments that are neces-
sary. Tho crops are fne. which is a good
foundation for domestic business and FOR
relations. The railroad situs-
ton has improved decidedly during the last
mon tn. and. although far from satisfactory
gives promise of gradual betterment There
is better feeling in banking circles as to
the credit situation, although money will
remain tight. The recession of industrial
activity which is under way is not severe
enough to be alarming, but is incidental 10
finding lower Level of prices"