The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-06-18

its own, the corporation cannot be
monopolistic nor even able to restrain
trade; that there was nothing impro-
Fer in the acquisition of the Tennes-
see Coal and Iron Company; that facts
ard figures show that there is no pos
sibility of Lake Superior ore monopo-
ly; that for these reasons and for
others, the governments petition for
injunction and dissolution is respect
fully denied.
This decision, therefore adds one
more plank to the platform which
American business has been slowly
but steadily building, and which in
time should result in the dawn of a
better day for American skill and en-
terprise. 1t might be interesting, at
this time, to recall some of the devel-
opments of the past two years, which
have entered into the construction of
this platform.
Perhaps most important is the
Presidents recent declaration that all
hostiities between government and
big business" as such, would cease,
and that size would not be considered
the measure of corporations legal
ty or illegality. The Wilson admin
istration has suited the action to the
word in this respect. Growing out OF
this policy has come the change in
the attitude of the Interstate Com
mcrce Commission against the rail
roads, as evidenced by the permission
given them to increase their freight
rates to something approaching a re-
munerative basis.
The effect of this decision is re-
Elected in the latest official statement
of the Commission, which shows
substantial increase in the revenue of
l67 of the principal railroads during
April. The total revenue of these
roads was $223,056 200, and expenses
$l58, 763,834. The net revenue amount
ed to $64,312,447, an increase of ST.
457,822 over April, 1914. This, plainly
is an improvement even for conditions
which existed before the war. For the
ten months ended with April revenues
amounted to 81 312034, 2o6 and expen-
ses, $162o,773725. The net revenue
was $682, 200 SOB, decrease, compared
with the same period of 1914, of ST.
285,3l6.
Money and Business.
Reports from the important hnan-
cial centers indicate that there has
been no appreciable decrease in the
supply of funds, and that for all legiti-
mate purposes loaning rates are dis
tinctly in favor of the borrower. The
banking position may therefore be
taken as unsatisfactory due to the
marked lack Of demand for funds, ex-
cept for the longtime periods. The
commercial paper market has been re-
Stricted by the lack of new paper COM
ing out. rejecting as it does the slow
ness of business conditions and the
extreme caution exercised in the way
of increasing rates. In fact, caution
and hesitation now seem to be the
watchwords of business policy. The
crop outlook in the western agricul-
tural territory is reported quite favor
able, though this is the time of the
year when reports of crop damage,
real or imaginery, find their way to
the speculative CenterS. The railroads
are believed to be more liberal buyers
of steel rails and other supplies and
this is a more desirable output than
sheels and cannon.
Investment bankers say that there
is continuing demand for high-grade
specialteS. new movement evident
ly succeeding the sudden falling off in
security trading following the sink
ing of the Lusitania, The very large
amount of money in the banks will, if
not sought for in industrial channels,
be diverted to the security markets,
and therefore increased activity is
looked for, especially in the bond
market The uncertainty of stock
market is another excellent reason for
brisk trading in bonds.
w. S. COUSINS,