White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-11-30

'oaeing supplies of stock, as was the
case when the price of Northern Pa.
zinc was bid up a thousand dollars
a share.
botn spectators and investors are
waiting to see what the outcome nj
recent changes in conditions will be
In the first place the amount of mon
ey needed to finance the cost of
the Balkan war, the French military
loan and the application for colonial
Dond issues In the London market
VIII have to be measured with great
er accuracy than is possible today.
In New York the effect of the Tariff
Bill In great industrial enterprises
and OF the new Currency Bill on
banking and credits will have to be
taken into account. These factors
VIII influence the rate of interest
which investors will be able to de-
mand and until the bargaining and
selling OF money has resumed a more
settled state of business is likely to
remain quiet on all stock exchanges.
AS has been repeatedly stated, the
rate of interest will in the end de-
termine the price of first-class in
vestment securities. Investors in
Europe. especially, are perfectly
satisfied with the security offered in
connection with new Rotations, but
they are holding off because they do
not know just how much interest
their money will command and the
borrowers naturally decline to pay
all that Is asked at present. Money
Is just like wheat or cotton. Those
who have 1t are always inclined to
hold off for a still better price, and
then, when they find that they are
overstaying their market. they rush
in with their offerings and take the
best price that they can get. This is
the history of the past, and 1t would
not be surprising to find stock mar
kets active after the turn of the year.
In the United States investors and
spectators have been waiting to see
how industries are affected by the
tariff. This Is becoming clearer day
by day. In some important indus
tries doubt still prevails, but 1t Is a
significant fact that the cotton mills
of this country consumed more raw
cotton last October than ever before
in their history. AS this sudden
boom in the manufacture of cotton
goods came in the first month follow
ing the passage of the Tariff Bill. ii
seems to prove conclusively that the
cotton industry at least can flourish
under changed conditions. The price
of the raw material is much higher
than il was last year, and the value
of the cotton consumed Is therefore
vastly greater than the increase of
about 40, 900 bales in volume repre-
sents. Cotton mills in the southern
states are apparently more prosper
Gus than ever before and this IS
probably due TO the fact that ii has
become plain to all that American
mills can turn out the cheaper and
coarser grades of cloth and yarns In
connection with the rest of the
world. Ii is in these lines that the
tariff is lowest.
Conditions in other important IN
dustries will soon become clear, and
there is good reason to believe tina
most of them will show conditions
similar to those now prevailing In
the cotton trade. The public hears
less about the leather trade, but
there Is every reason TO believe that
the leather trade and the manufac-
ture of boots and shoes are so well
established that the tariff will moi
have any detrimental effect as far as
production of the more important
lines is concerned.