Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-06-01

S4. 500. 900 Northern certificates and
$40. 900 900 Pacific Fruit Express
equipmcnt trust certificates.
Continuing, he said that the rise. in
interest rates has been so gradual that
no one can fully appreciate how serious
IL is till they compare the rate borne
by the two first issues of treasury Ger
titicates of indebtedness. shortly after
we entered the war. which carried in
terest at the rate of 3 per cent, and
the several issues which followed bear
ing 81, and 81 per cent.
The surprising thing, he said. in the
face of the present prevailing high
rates on both long and short loans. Is
the exceedingly low rates demanded for
call money in Wall street for the past
few days. considering also the credit
situation generally
Below are the opinions Of some tinan-
ciprs and financial institutions on cur
rent affairs more or less affecting the
financial situation:
Franklin National Bank. Philadelphia
Bank clearings at the principal cities
for April were nearly $40. 900. .000. 900
compared with more than SAL 900 900,
600 in March and nearly S31 600 600
600 for April Of last year. Clcarings
exclusive of New York city were S1S,-
O0O. ZOO. 600 compared with $4,000.
600. 900 in March and S13 600 900, 600
in April of last year, the increase more
than q year ago being "a per cent.
Exports Of merchandise for March
were valued at $500. 900. 900 compared
with S646. .000. 900 for February and
S603 .000, 200 for March of last year:
Imports were S4S4. .OOO,OO compared
with $40. 500, 900 for February and
S26S. 100000 for March OF last
year, leaving a balance of trade in our
favor for the month Of 1886 600. 900
compared with S11S.OOO. 600 the month
before and S336. 900 900 in March OF
last year. In dollar value exports for
the month were the highest ever re-
corded with the exception OF June OF
last year. while imports for the month
set a new high record for any month.
While these comparisons are maze IN
money Values anu Pr.sus PS;.;an a ~ ~ on;
high on most commodities, eW
dent that our forelgh traue I9r niarcn
exceeded IN volume tne totai OF any
previous month with possibly te" re-
cent exceptions.
Ninth National Rank. PhiladeIphja-
,,~-.,, ;,,,,uoa.;o,, =, 80,
rather m,un." Hu;,aas n;roins tbot tho grao,
apparent prosperity of the country is tC
a considerable extent of an artificial ma
ture. This belief will receive veriicatior
should ANYTHING occur to bring price,
and wages down suddenly. Under pre-
yailinp conditions IL is wise to prepar,
for such a contingency by a prudent
nolicv in regard TO expenditures. with
w." ,. 10 extremes r. lavish ex
nond;tures ore harmful TO the ipdiyidua
anJ tbo community extreme narsimon,
T. No loss 60 for This would 20 fa,
.oio.a nv Jr,;no m nroduction and trade
Sbo',id tha 5uhIic snend inst rttl,
nou'u , ia; 80 ,,rgontly noodod
lrsn Va ,;,tIa ,norowot rho som,
save Just littie nofehat .hoso tns n0Stin sam
~ Wuos',i ,ssn ara,ts "a, t"e '
u,reiu, .i ,,in ess uood b;t bordoru
time worsihs soot ~. nah - .i,',
shouio hnu ourselves uo'r III "u''' .'"'
A. Il. Leach CO.-From the view
point of our own country and its plac
in the world, no man with the least i'm
great possibilities, the insistent op
agination can grasp in his mind tn
| the world, deprived of our former sens
can see beyond the immediate present
the impulse comes to be up and doing
transformed by the happenings of tn
war into the leading creditor nation a
ond sn;rit of isolation. taking on re
noweS snir;t in n world, in which dis
80 rn longer counts no n form;dohi
uhataoio in tho conduct Of hus;neas ~,
~rsssnt position should and as w w