Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-01-01

standing this fact it was estimated in
| November that one-hSlf of the reserve
coal supply of the world was held IN
this country until it was reduced by the
bituminous strike.
CRUDE OIL
OUTPUT GROWS.
The crude oil production of the United
States reached the stupendous total of
"a, 4S7 600 barrels in the single month OF
September The silver mines OF The west
have been unable to cope with the ire
mendous foreign demand and the metal
has been selling around $1.3S an ounce,
the highest price known for 1t here in the
history of silver trading.
The people have plenty of money. The
amount Of money in circulation was esti-
mated In December at approximately
$5.s16, 925,779, or $54.6S per capita. The
farmers got higher prices for their
products than at any other time In years.
The commercial failures during the year
averaged from 100 to 100 a week, but the
bulk of them were small and unimportant.
While the people complain of the high
cost of necessities. 1t is paradoxieal fact
that the manufactures turning out
luxuries and the jobbers handling them
are taxed to the utmost with orders.
While the dollar today has less than half
of the purchasing power it had before
the war, the general public has been and
still is spending with a lavish hand. The
diamond imports to the United States this
year were estimated at 500, 900, 900, NEG rly
twice what they were last year.
To some extent the war taught the
people the investment habit, due prin-
cipally to the various Liberty bond cam
paigns.
BOND DEALINGS
GREATEST EVER
The bond dealings In November of this
year were far ahead of any other No
vember in the history of the market
Sales of bonds during that month ag-
gregated S35s.s71. $50.
More than $1,000,000,000 worth of Lib
erty bonds have been bought b. the
United States treasury and retired dur.
ing the past year and a half, yielding
the government a profit of approximately
$3.50 1000, and reducing the public debt.
Purchases we're made to stabilize the
market for these securities, the par val
ne being s1043 $50 500 and the cost to
the government 1893, 363, 526, in addition
TO 14204,7T accrued interest
There were waves of heavy selling OF
Liberty bonds during November. creating
new low price levels. In one day, Nov.
20, over $17000,O00 worth of war bonds
and notes changed hands.
MANY FOREIGN
LOANS FLOATED.
The following foreign loans were
foated in this country during the year
Great Britain. 20 year, $2s. ITO 900 !:
Great Britain, 310-year 1000 900 (;
French municipais: Bordeaux. S15. coo 600 /;
Lyons, $1,000, 900; MarSeilles. SIS 900 900
Republic of China, 2-year, $500, 600.
Sweden, $4,000. COO. Switzerland. $50. 900 -
600 Canada, 10-year, $50 O0O, 900 Canada.
2year $15,00000D. Rio de Janeiro. S1O.-
100000 City of Sac Paulo, $500. 900.
Copenhagen, s15,OO0O 900. Canadian mu-
nicipals Toronto, 81 ,OOO. 600; Province Of
Ontario. s1,000O00; Manitoba, $500 900 +;
New Brunswick, 81, 600, COO Ontario, 81
100000; Vancouver, 100000; Ontario,
$500, 600.
There were a number of great cues
tfons of national Importance to the bust
ness world before the country when con.
gress convened Dec. 1;
I. The Mexican situation and the
threat of a rupture
2. Pending negotiations between
the miners and operators for a settle
ment of the coal strike, following tho
rejection by the miners of q PROPOSED
wage increase Of IA per cent.
3. Unrest among the railway employees
With strike threats IN some quarters.
4. The absence Of any definite plan
for giving financial assistance to the
railways when they were turned over
to their private owners by the govern
ment.
5. Growing dissatisfaction over the
Increasing cost of living. the price OF
necessities in the east having jumped
III per cent in October and early No.
vember.
Gloomy predictions of financial d,sas-
ter" If the railroads were turned back
with no provisions for financial support
were heard throughout December.
Keen students of the labor situation
believe that the crisis Of Industrial I'M
rest in this country has been reached and
passed
Big industrial enterprises are making
plans for expansion that will run into
many millions of dollars. A tremendous
building boom In every part Of the coun.
try Is expected, despite the high cost
Of brick, timber and nails.
While America is growing at home II
is planned to win back as much as pos
s1ble Of her old-time commercial prestige
on the high seas. The federal shipping
poaru, In addition to its great program
for the construction Of freighters, ar
ranged to, establish passenger lines on
all Of the$mportant ocean routes. This
project caved for about sixty passenger
liners. Anbut half Of them were former
German slips and had been used as
transports by the United States. Twenty
five others were ships that the United
states had ordered for transport service
after this country entered the war