The Alaska citizen., 1915-08-23

l today. since MT IoreeS COmpila-
 ton was made, however, it is be | lieved that fully S400. 1000, 900 of SC | Street by foreign holders. Assum- | ing that figure to be correct, there
 would remain American railroad se-
 curities, worth say s1,734, 900 900, in
 the hands of foreign holders. No
 one knows just where they are 1 lodged but the probability is that
 at least half are held by insurance and other companies and by large estates for income producing purposes 1 Such holdings are rarely interfered
 with and it is improbable that they
 will be sold. That being so. there
 remain altogether $1,07l 100000 of such securities to come upon the
 movement should be prolonged. i Even if such an amount should be
 offered for sale by European holders and no one can say that they will be-there is reason to believe that American investors would take over
 the holdings willingly, since many of the securities are of the class
 that is just now most in demand,
 The German reply to the American
 note concerning the complications
 growing out of the Lusitania incl dent has not greatly changed the situation. The friendlinesS of tthe note has been taken to mean, how ever, that satisfactory adjustment of all differences would eventually be reached. The controversy has caused much uneasiness and has been detriment to business. It would be of immense benefit to have the dispute settled and il is to be hoped that an amicable adjustment may soon be reached.
 During June the volume of Corpo- rate financing aggregated $S3,OOO, GOO, about half of which represented new borrowings. This total was. with the exception of the March output of $73,000,000 the smallest reported in any month since the year opened. For the first six months of the year the volume of new if Inancing was $795. 100000, total much below the offerings in the first half of 1914. Owing in part to the for eign liquidation, however, June trad ing on the New York stock exchange was almost three-fold as great as that of the same month in 1911. last months sales aggregating H. 116,567 shares. Bond sales were also larger, the June total this year giving $57S25, ,000 par value, as against $53, ,919 300 par value twelve months before The figures for the first six months of the year also make a surprising exhibit, with deal
 ngs in stocks this year amounting to 62,074065 shares as compared with 37,732,360 shares in the first half of 1914. Transactions in bonds, for the first six months of 1914 az eregated $394 1856, 700 par value as compared with $371,132, 100 in the corresponding period the year be. fore.
 Large new loans will be offered to investors as soon as the German controversy has been adjusted. Both the railroads and the industrial cor porations have great deal of fl nancing to do. In addition to these. states and municipalities. These re quirements will all be provided in time, and within the last few days there have been indications that the investment inquiry would broad en materially as soon as there is check to the new supplies of gilt through the foreign liquidation, Peo- pie are not inclined to speculate, but because of the large accumula- tions of idle money, there is good demand for first class securities. Some of the prominent industrial companies are showing large pro fits owing to the enormous business in army supplies. Most of this bus mess is taken at a sufficient profit to cover the cost of equipping the plants to handle a class of business which they were not thoroughly de signed to handle. But the readjust- ment has been thoroughly worth while and testifies to the resourceful- ness of American business men in meeting unexpected demands. It will be several weeks yet before the largest contracts can be even par tially filled. The "war business booked by some plants is already sufficient to keep many thousand men employed for months to come. Furthermore new orders are being given out every day.
 The governments crop report for July was highly reassuring It prom ises bumper crop of wheat not withstanding unfavorable weather conditions in sections of the winter wheat belt. The prospect is for