Daily capital journal. (Salem, Oregon) 1903-1919, 1915-06-09
11e'ery Clews Endorses Decision
FaUoring U. S. Steel corno,,...

in,, ionSluerabIe tle extent in addition 70 moot
Ing her own obligations. II is ronnn.,' S l,.o' :
t Lnat GREAT Britain is contemplotin T' ", ,
huge war loan, portion of wbich psa
cSoa S Uttered here giving American nny
tmoseIs ia.s preferential terms, and tat;no
aI aI,o consideration the differences in oT
clIGGnge. A moderate amount of REL i IA
.oollgahons might be placed hero if i5, t5D
seIhS We're sufficiently ottroct;v".
enough say to prevent further colJ w,
pUiSs roaS 70 the United States. But as nj.
teooy stated, Americans are nor TLei,.
W. ,,I,l invest very freely in foreign loons
Mnen many safer and more nTofi,oLIs
opportunities are to be found NJ h.
wen south America at this timo Is .
more more inviting field for investments tbo " /"
europe The United States is tbe only, %
~, Portaht country in the world NJ nros.
.t ". uGcumulating savings. Nearly all
'ue other civilized nations of tbo corth
M are destroying as much, if NOT mnro
.nan they are producing. American in
NeStors should be able 10 secnro ooal
tS,urnS t;n, on their investments for some
tlme to come. 'o"'e
=, Home conditions continuc 70 ;mrr,,.,
confidence, like most sentiments 10
lectious and its spread has much 70 10
W. "i'u IeGuperation, Crops are late owing
~, ~ 'Ge backward season, but the conn
Try is sure to have an abundance ~,
SAN ga, ana cotton; much of which Euroo.
VIII WI, certainly want at good prices nrr
vi no war. Industrial condition. ara
improving. The whole country has bSnU %
severely for a lengthy
ipe, per!ou, more severely perhaps than The
contraction in business justified Onr
cotton mills are steadily increosing
lneir output at slightly better nricSss
ana the great distributors of the wost
oll report growing confidence and ey.
p Of good trade next autumn
Oniess all signs fail American rnilroads
s VIII soon be obliged to spend large sums
ior maintenance and equipment Evnr,,
raliroad IN the United States bas nroc.
llced rigid economies for several yeors
some roads having run up against tho |
point. Rolling stock Il known
W pe IN poor condition Heavy repoira
inu fePlenishments are imperative. For.
better rates and bettor trofs;o
prospects saved the railroads from
serious crisis and put them in bettor
'osltion to meet such demands than for
oinc @ tlme past. The Pennsylyanio
.on .Murded do contracts last month for 900
VUooo OF equipment and supplies while
ther important railroads are known to
G negotiating for large contracts
american railroads are estimoted ,o
ave spent about $5OO,OOO for amin,
lent last year and nearly as much mora
u general maintenance; hence tboir
as buyers of steel products
N De appreciated, II is this imnrovc5
ltlook, plus foreign orders for mnni
ons OF war, which has been M tho
)ttom Of recent strength in most os
le steel shares, Thursdays steel do.
SION was a further and highly i'm.
ortaht factor in the advance Thn
uh,s oil our railroads are urgent nnd
'eei manufacturers are now lool;ng
'1wafd nv, TO more normal conditions.
lhc stock market has now bod con
uefable rest after the activity which
'VeIoped in April, During this neTioJ
weak spots have deyeloped nnd {
quotation applied good test ia tbe ]
>" level In view of easy money and ,
e rising tendency of confidence n
ore active market seems probable With
e trend towards price rccovcrics I, II
ust be emphatically repeated, how. !
,er that this is essentially n wor
arketj hence sharp fluctuations ore
evltabIe, governed very largely bv
.eehts from day to day For The TINA Z
'ing the steel decision and the more
'petul outlook in our relations Win
'rmany have infused new strength in.
the market. -" ."
HENpV gt t,,r., b.