The Ontario Argus. (Ontario, Or.) 1???-1947, 1915-02-11
CONDITIONS GROWING BETTER.

and that the business epesoor at least the cause for -nC
longer exists the of adcs by the leading banking
institutions of the nation general summing up present condi
ons and brief forecast of the future is made by the National City
Bank of Chicago under date of Feb. |. 1t follows:
Europe giving free rein in the worlds markets and the
United States making the of the opportunity cra
business quarters which never before had much commercial
intercourse with this country This evident from the violent break
in foreign exchange and the phenomenal expansion
foreign trade On this point the government figures covering
foreign trade for December suggestive, and provide
striking contract with the weakness shown just after the outbreak of
the in Europe An OF exports imports of S5l-
S63OOO reporeda figures before shown in December
compared with export of only S94OOOOO November
and actual excess OF imports amounting Sl94O00OO August
conditions steadily becoming stronger and that the elements
previous weakness being eliminated 1t is natural therefore
that the government officials of the United States and Great Britain
together with the leading banking interests OF both should
abandon all idea OF securing international cooperation the dec
ton OF controlling the foreign exchanges Instead Of being abnor
maly high the quotation for London bills has lately declined
level at which would probably easy for the United States
good deal OF gold ont OF Europe if cared press the claim
mere no reason why tins should be done for we are getting gold
from China Japan and Canada and France has begun build up
credit balance in this country which will probably be utilized later
10 pay for goods purchased in the United States.
Another interesting development been the really extraor
dhy movement by loegn nations to borrow money in the United
States Only SloooooOOO has been advanced thus far but five
times that could have been employed high rates had
the American bankers cared to the proposals made by all the
Degerem nations (eNcet Great Britain and by nations which
from time neora have been in the habit OF doing their financing
IN London This bound continue evident
That the London banks are position finance outside borrow
ers at time when the have be provided
These loans perfectly safe and under different conditions bankers
here would be glad to make much larger advances are
large loans to be brought this country and taking the as
whole heavy mattes OF bonds short term notes will have
10 be reckoned with
The United States is the only mportant commercial mower not
engaged Out of this situation accrue benefits for the
market-the greatest of all neutral maretswbic one
can scarcely forecast this time Europes our surplus
wheat has advanced the price the highest for many
years She must continue to buy quantities all the food
stuS that have spare For the purpose financing these
purchases and the purchase OF every variety of and
army supplies, various foreign governments have large
credit balances IN this country To provide these balances
term advances have been secured from bankers understand
ing that the proceeds OF the loans should be expended the United
ln,tT pI in I,r,,
Iangenen will be immensely helpful American producers and
must result in obtaining for manufacturer vast amount of
profitable business which never before mercan markets
IN inns manner the fortunes of war have given this country trade
which never got before and that have OBJ
tanned inns oohod IN markets previously closed them is fair
ends ~ WV W."
$50 far general business concerned the tone is better than il
was month ago but the volume is still considerably less that
often al this time of the Sentiment however is more
cheerful HE feeling that there will be less disturbance from
P' 'N' 10 mat however the peSdenS indianapolis address
caused good deal of concern people had really begun 10
mN u" the Washington influence could be depended upon as
"S" GN"I Nhal business men want most of all be let
clone There good expect that there will be much less
radical legislation 10 deal with Full crew laws are no longer
popular ana the people OF various states which have laws are
el'S to work to have them repealed Much has ACCOMPLISHED
by the freight rate decision and is evident the railroads will
gam enormously nom the action taken by the interstate commerce
commission he benefit will alone from the advances n
'ed bu om the spirit of the decision and statements made
~ the commission itself The has felt even ye the fr
fleets OF the freight decision and clear that one OF the
4Se'l gains Wi come from changed attitude of commits n
onS and public service bodies The public commissions cannot Inc
mdu OF the position of the railroads recognized M the inter 81
"T commerce commission the most powerful of all public bodies
The present demand for bonds and high Grade stocks Is M has, ~
nd the broadest that has seen for months past ,e ~
Is IeSohape To expect that the inquiry will enlarge and that il
soon DC Sur to justify the offering OF bonds and stocks cr
the large number of corporations which have DELAYED ~
'S more stable conditions IN the investment markets The de M
d no longer confined to short securities it takes in
~ 'N S'ue nonuN, ana nigh grade stocks being ca
caSed today IN large blocks by individual investors who month c
TWO ago could not be induced buy such securities This move IN
i; f '" C''"Sn 10 SHOW clearly that the public is
lS confidence One OF the significant DEVELOPMENTS has RI
ZEN the renewed interest IN the best class railroad bonds follow an
ora,IeL hand ;,,,,l; |
Dc utility issues are in demand Municipal bonds are being ON