Substantial Decsease of Favour-_ able Trade Balance Washington, July 16.
The Department of Commerce announces that the favourable balance of trade for the year ending June 30 has dropped to $287,000,000, compared with $1,040,000,000 for the previous year.
Exports totalled $4,754,000,000, being a decline of $111,000,000, while imports aggregated $4,467, 000,000, an increase of $643,000,000.
Mr. H. C. Hoover, the Secretary; of the Department of Commerce, attributes the decline in exports Targely to the lower prices of cotton and to decreased grain production, and the increase in imports to larger importations of raw materials and to higher prices in some lines
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