The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-10-08

total expense involved in the trlnsac-
ton and the fact that they will re-
ceive four points below par net for
the issue. The Commissioners have
gone to Chicago for the week, though
it is understood in an informal. and
not in an official capacity.
1t is freely asserted by men of FIN
ancial responsibility and authority
that at least 90 per cent of the loan,
or $3000O0,00O, will be absorbed by
New York City banks and individuals
More than one-third of this amount
has already been definitely pledged by
individual investors of great wealth.
Fifty banks, National, State, and trust
companies, have already joined the
banking group, and the list is not yet
complete, inasmuch as every institu-
ton able to meet the requirements is
asked to participate. No minimum of
subscription has been placed upon the
syndicate membership, for the reason
that such liberality has been shown in
the subscription to the loan that no
minimum will be deemed necessary.
The governing committee Of the Stock
Exchange has decided that in the
event the Anglo-French bonds are
listed on the Stock Exchange, the rate
of commissions shall be matter of
private contract between broker and
client This places the bonds in the
same category as United States gov
eminent and municipal bonds which
are not covered by the commissions
rule of one-eighth of one per cent
each way Judging from the senti-
ment of the country which poured in
to the financial district this week, it
is thought that it will not take more
than a week to organize the syndicate
and make ready for the formal agree
ment which is to bind France and
England and the hnanciers of the
United States. The enabling Acts to
be passed by Parliament and the
French Chamber of Deputies will go
through, it is expected, within two
days after a suspension of the rules
as to readings.
Business and Industry.
Figures made public by the Bureau
of Foreign and Domestic Commerce
Department of Commerce, show that
for the first time in the nations his
tory exports exceeded 100000 ,00C
in value for a twelve-month period
For the twelve months ending with
August 81, 1915, exports from the
United States aggregated $3,035, 033,-
28O, against $2,2S0,185,791 in a like
period one year ago Twelve months
imports of merchandise totaled ST.
66o 6o8,934, compared with ST. ,906,65l, ;.
SIS last year. The month of August
showed exports valued at $26l 1851
against $110,367, 494 in August, 1914
an increase of $751; ,608,277 or 1877 pei
cent. August imports totaled SAL,
1868, against $l2o,767,890 in Aug
ust, 1914, a gain of %1 ,961 ,748, or
per cent. Thus, August trade this
year shows an export balance of $780,
246, 1873, as compared with an impor
balance in August, 1914, or $19,400
800, a favorable change of $139,646
$50.
The aggregate foreign commerce o
the United States in the year ending
with August, 1915, the first year o
the European war, was, including mer
chandise, gold and silver, $5,129715,
002, against $4.480. 1904, 700 in the yea
Immediately preceding the war. Thu
net increase of $64o,410242 for tn,
year included a gain of 1854, 847 ,48o il
exports of merchandise and of $3.50,
1892 in imports of gold and silver
and decrease of $236,958,581 in i'm
ports of merchandise and Of $58,223,
s88 in exports of gold and silver.-W
S. Cousins, Editor, The American
Banker, N. Y.