The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-06-25
business and Finance

. ping, II was generally under
stood that he had in mind the ARRANGE
Hilents OF British credit in New York
Nothlng further was heard of This
matter after he returned, however
put II became known that some of the
large JOINT stock banks at London
Llau oeen granted large credits at this
eehter and it was believed that these
transactions, in fact, were on behalf
OF the British Government. designed
70 pay Tor the purchases of war SIM
Pnes Tor itself and its allies that Great
:britaln is being called upon to finance
IN TINS country. French exchange al
SO SHOWS the need of some form of
credlt beng established in this coun.
tiry While holdings in France of
american securities are not large, thew
are not available for resale bach to
tnls country because of the change in
1 ~ that was insisted upon by the
rIehch government at the time thew
were sold IN the French market In
order to collect taxes from these ser
uritles' the French Minister of Finance
INSISTED that they be issued in French
denominations in funds PAYABLE in
france Such action, of course did
NOT contemplate such a change in the
world market conditions as have in
1act taken place since the war bepan
~ me present time plans are being
considered to Offset the disadvantage
tnat mas thus arisen. The plan that
seems IN greatest favor is the ex-
change OF these American securities
lor securities held under the unIiouid-
dted settlement of July last and the
transfer OF the French securities thus
reieased to New York to constitute
coliateral for loans whose periods
sndIi De devoted to the payment of
supplies purchased by France from
american manufacturers and produc-
ers.
At the beginning of the war Ameri-
can hnanclers, and especially the man
ayers OF our stock trading exchanges
llVed III mortal terror lest the Euro
pean owners of American securities
should deluge this country with their
holdings and thus completely demon
alize our markets. In fact, it was for
TINS sole reason that the New York
Stock Exchange remained cloesd for
hVe long months. But their fears
proved to be groundleSS and the war
mas only accumulated the desirabilitv
OF American investments compared
with the securities of stricken En-
rope. The European governments are
anxious tor liquidation of these
American investments for such
process would be an added feature in
protecting their exchanges, and it is
even intimated that they may impose
severe tax upon them, America Is
IN such an excellent financial condi-
ton that she is quite prepared to all
sorb all the securities that might he
thrown back on her markets, and in
me last analysis, surely it would be
better tor. Americans to own their
own securities and have the interest
payments made here instead of in
Farls or Berlin or London. 1t would
pc one more plank in the america
tor Americans platform.
Stock Market and Business
The, war stocks" have been some
what irregular and spasmodic. and de
spite the fact that some new high rec
ords nave been made, these issues are
nevertheless a very uncertain GUAM
tltY and make excellent material for
bull and bear campaigns for a quick
turnover. AS an investment for the
general public, they are extremely un-
satisfactory Standard railroad and
industrial stocks and bonds are in
tar demand. the satisfactory increases
IN net earnings having a verv favor
able effect upon the railroad issues.
The railroads seem to be reaping the