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Show 1 ; I , Conditions Over I II I j if Country Show i ! j Improvement Mill I ---w US 11 j fin Its September., letter on trade HS ' .al conditions nnd business forecast, the HP ' I ihnh State National Bank ot Salt H Iv'T Luke City says: j j j ' t, , i , . !. , Iho clearing of banks for tlio l . , 3 month of Duly, allowing on lncreaso jt j i 'j 1 t almoBt a lillllon dollars over the 8 r ri rWlous' July, demonstrated a mater ' i J , Inl Iniprovonient In tho business sit- R j j J nation of tills country. Clearings out- I ' , ' It 'de of New York for July exceeded f . j iiio previous Ju'y by more than 100 l ; 1 1 j ' millions. Tor tlio Ilrst seven months j , ; I ; of the year clearings havo slightly j, j J r I oicecdod lnit year's figures both In I ''' Now York ulono nnd for this country I f 1 ,. ns a whole. J w jl ' - Tho business mortality for the ' " I " month of July was heavy, number- A , 1.1 g lug l,3ir ooncerns as compared with V 1 i : ' 1,117 failures In July ot last year. Tho, HH I jl total liabilities were only slightly over B I j 1 1 25 million dollars compared with ncar- H I ly3S million dollars In liabilities' ot tlio I concerns falling In 1913, It .will b noted thht whllo tho number of con-j con-j corns falling was large, the total 11a- j ' ullltleB ot the failed concerns was : very much lower than for the same I . month last yettr Indicating that fail- ! ures for July this year, although num- I crous woro smallor and therefore ot ' less commercial importance 'Dividend nnd interest disbursements disburse-ments for August nro estimated ht 992 million dollars as compared with 78 millions for August last year, Divi demls will bo 43 million against less I than 41 millions a year ago and In- terest nearly 49 millions ngalnst less than 38 millions last ear. I ""Merchandise Imports for Juno totaled total-ed IDS millions compared with 131 ' ! millions last yoar and exports woro' 157 millions against 163 millions a1 year ago. Tho balance of trade for tho month was C5J thousand dollars -In favor of othor countries. We lm-i)ted lm-i)ted lest than I mllttou dollars In mb i a(j . I for the month and exported 48 M j j million dollars making a drain on our Hi j III gold supply for tho month of nearly M L I 45 million dollars. This heavy out- B " j m 1 ' flow of gold whs ot short duration and K 1 5J the v hole impart and export situation m j Hi ( I ' as regards mcichandiso and money B j I If liU8 boe'1 ul'80t " l'10 Euro')e!in wnn Hi I . I j J 'l J It is generally bollved that matters ( I1 i 1 1 ij will boou adjust themselves so hat I ! I r 1 1 fi ,u's cou,ltr' can coutluuo Its usual If 1 1 P trade nud Incrcaso Its trade, with all f ,b neutral nations. Imports dropped to ' ' ' ulinoshlntfiauso of tho war nnd tlny-e sfiouldbb a small balance of trnilo in favprpf thls.counfry each month for some tlme" fA " 1'rellinlnary reports- Indicate Dulld-Ing Dulld-Ing operations for July of hbout 85 million dollars in 150 cities as compared com-pared with secmllllo'nstln thoieamo cities last year. Uulldlng operations mndo n gtiln last year In obth Jinn and Jutf. ,Ttft ' IlallroaJ eaViTfAif haVS5contlrtUetl to mnku nil nnaatlstjictory-j showing. Ktnul loports show gross earnings for May to have declined 20 millions as compared with lost year nnd net comings com-ings to hnvo declined nearly 16 millions. mil-lions. Oross cnrulngEl for Juno f-V 110 roads wero 149 million dollnrs compared with 157 last year and not earnings v ero only 42 millions compared com-pared with 45 millions a year ago. Preliminary reports Indicate that July gross earnings fo 1 about 5 per cent below July of tho pievlous jear. Oross earnings of nil roads so far reported for the flist seven 'months of tho year tire C per cent below tho same period of 1913. The falling oft In earnings has taken place In all parts of the country nnd nearly nil roads. Tho small freight rate advances permitted permit-ted by tho recont ruling ot tho Interstate Inter-state Commerco commission will-not be sufficient to change this situation to any appreciable degree. Tho general gen-eral crop movoment will 4ielp the railroads, but the wheat and cotton movement to seaboard will be slower becauso of. difficulties attending the exporting of any commodity. During the past five years freight rates per ton mile hnvo decreased about 4 per cent whllo tho nverago dally wago of railroad employes baB increased nbout 14 per cent. This leaves an Item of something like 250 million dollars to be offset by moro economical econom-ical management. We are not prepared prepar-ed to believe that tho management of railroads Generally has been so pro Illgato thnt 250 million dollars can bo. saved. In a ear by better management, manage-ment, and this without, In any way crippling tlio service. Tho number of Idlo enrs has continued contin-ued to decrease nnd Is now below the 200 thousand mark for the first-time slnco April. During June, mill shipments of west em pine were 88,000,000 feet compared compar-ed with 73,000,000 In Juno last year. The Juno lumber cut was 1,204 million mil-lion feet compared with 1,211 a yoar ago. Total Juno shipments were 1,092 million feet compared with 1,064 a j ear ago. Tho lumber exporting busi Iness Is practically at n standstill. There Bcems to bo no reason for any advance In lumber prices, although some advanco aro contemplated. Manufactures' stocks of cotton woro only 904 thousand bales, on "August 1st compared with 958 on the Bame duy last jear. Dm lng July 30,677 thousand spindles wero active com-pnred com-pnred with 30,023 thousand a year ago. Pig Iron production for July was 1,958 thousand to be compared with 1,918 tho previous month and 2,661 In July, 1913. July production ro corded tho first Increase for several months over tho previous month. Au-gust Au-gust 1 saw 188 furnaces In blast with a dally capacity of 64 thousand tons. Iron oro shipments on .the Great Lakes for tho first half of the year were only 9,624 thousand tons compared com-pared with 16,125 thousands for the first hnlf of 1913. Shipments for this cnr are estimated at 37 million tons to compare with 49 million tons last car. Tho unfilled ""tonnage of the steel corporation nt tho last report was 4,159 thousand tons compared with 1,033 thousand tons tho previous month. Tho developments In Europo will remove tho foreign competition ond mny cause heavy exportB to tho Latin American countries. Tho stool business genorally should benefit rn-thor rn-thor than suffer from European con- 1 , . j. ' " dltlSfiV.' 'The ltfst iflarterlyArepprt pf the jfleel 'c'drpo'rh'tlSfi fewrroru-lngs fewrroru-lngs of over 2thtnlTffo'tl"a'ollarg com pared Vlth less -thantas millions for the previous quarterns. Earnings fpr, tho. last (juartor, howetcrleft n do-tfTcJt"'dtr"C do-tfTcJt"'dtr"C "mifllon dollars.' Tho cor-iVoTji'lion" cor-iVoTji'lion" his "KI&rt-'itrul dlvl-;dem!sf dlvl-;dem!sf " - -' j ' Koauthorhativi'rtortB'ioa copper, reoln,.fMHe(S unUftodlU6ns become be-come settiodbuJTtho" quatttlty'of oep per needed ror"'European-'fcoMuniD-tlon will naturally decrease -and' ox-' ports to neutral countries cannot bo large enough to raako up'the ldss.As n result pt tho present conditions, tho vlslblo supply ot copper has In- eased nnd prices haye decreased r The vlslblp Bhpply ot tin In tho w orld 'on August 1 was 16,876 tons compared with 13,869 a year ago. This country's vlslblo supply was 1,-297 1,-297 tons." The -price of pig tin has about doubled, tho Incrcaso being caused by tho discontinuance of tin Imports. -The vlslblo supply, In this country Is very small nnd we'produco very llttlo ot tho raw material. Antrnclto coal shipments W July wero 5,392 thousand tons compared with 5,488 thousand tons a year 'ago. Tho demand Is Irregular. The bituminous bitum-inous coal situation should bo greatly great-ly benefited by the war, as much of tho southeastern coal will go to the export trade Instead ot going west, and tho western coal must tako enre of this country's demands. Gold production in tho transvnal for July was 732 thousand ounces com. pared with 655 thousand ounces a j ear ago. This Is the largest months production slnco June 1913. |
