The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-12-17
Business and Finances
By w. S. cousins. Editor The American Banker

many lessons to learn, and it is with
this object in view that the very inn
portant foreign trade conference was
held this week in this city. In scope
and influence this three-day confer
ence may be considered as one of the
most comprehensive and significant
that has ever engaged the attention
of American business men. Speakers
and commercial experts from all lands
contributed an immense amount of
valuable information, and plans were
laid for an invasion of the foreign
markets on large scale. Transpor-
tation problems and commercial
treaties received due attention, and
the new facilities offered by the Fed
eral Reserve System clearly expound-
ed. Every department of American
trade and industry was ably repre-
sented, not forgetting the transport
tation companies and. the railroads.
Business.
An important railroad official who
has just returned from an inspection
trip over the Southern territory says
that he has observed more encourag-
ing conditions than have prevailed in
! that section of the country for more
than a year. After the outbreak of
the European war last year, the price
obtained for cotton was so low as to
yield the planters but little, if any,
profit, and this was reflected in a
serious curtailment in purchases of
all kinds of merchandise. This year
good rice crop has been produced,
and sugar growing is now encourag-
ed by the prospect of the present
duty on import sugar being continued.
! While this seasons cotton crop is
about one million bales less than last
season, the farmers have grown their
own feed crops, so that the cotton
crop has been produced more econo-
mically than any crop in recent years,
and the price now prevailing is so
much more favorable that commercial
prosperity is being restored and mer-
chants are replenishing their depleted
stocks, and if the petition of the
Texas railroads for some increase in
the abnormally low foreight rates
which have prevailed in that state is
granted by the railroad commission
of Texas, as now anticipated, that
section of the country will soon come
into its own, and the railroads may
expect to share the prosperity.
Similar reports reach New York
from the west, which is now very op-
timistic in view of the immense vol
ume of business which is being done,
with the movement spreading to vir-
tually all industries. The primary
market movement of grains is SUR
passing all records and the car short
Yage on many lines is becoming acute.
In many localities there is consider
able complaint about the condition of
corn, and farmers are selling the best
corn at very good prices. Advices
from various sections tell of reduced
acreage for new winter wheat, but
most farming communities are enjoy
ing high degree of prosperity which
is likely to continue for some time to
come. The country merchant is max
ing large purchases in the market to
supply the demand for the sort oil
merchandise which ordinarily moves
as soon as prosperity becomes prevail
ent in the crop districts. Nothwith-
standing successive advances in price
the steel mills have more business
than they can handle and the demand
seems to be increasing all the time
Several new blast furnaces have been
put in operation and rail shipments
are largely ahead of last year. Struc-
tural steel is also in good demand, as
are all kinds of building material, the
inquiry showing that many new enter
prises are being taken up. This is a
good sign and compares with situa-
ton of utter stagnation in the build
ing industry year ago.
Stocks and Bonds.
While President Wilson'S address to
Congress was in many respects con-
strued as a bear factor in the stock
market, the sale of stocks during the
past week greatly exceeded the re-
cord of the three preceding weeks
A decided weakness was apparent in
the oil and motor stocks. these in
dustries being singled put by the
President for special taxation but or
the whole the tendency has been up.
ward, and every effort to depress
prices has met with strong resistance
A fairly accurate forecast of the Presi-
dents speech was available at leas,
three days before it was delivered
and therefore no great surprises were
sprung upon the market. Mr.. Viii
sons recommendations regarding :
commission to study the railroad situ
alton bore out the expectation which
had been formed in respect to thii
phase of the address, but apparently
what financial interests have beer
counting on for some time is an alb
sence of any positive action unfavor
able to the railroads rather than nos
tive action favorable to them. Thi
has amounted to a belief that If no
interfered with the railroads will de