The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-07-30

resident will not decIara alon. The
war h,,t me commission Of an act of
tion r. H.. wiz create diplomats sit,o
bv C .aiat VIII make any future a 1I.uJ-
ships 49, a'l submarines on American
bia Ps 90. or American citizens nn IAN
Sat- IS On act of war on the JInitnd
d;nieslnat Will automatically r,ntrra
Iie pnoin .I relations. Wall Street ba
go,os mat the neglect of the Germ
fbe p nilieht 10 reply categoricalI,, -
o ene residents former note On III 10
sa'dnia case forces him to mt an u uI
FL, .ne written controversy at o,ce
" opean Finance and Fore;en r.
r. change. LA
oIa ou@y was an eventful dav in The
-onIon money market, the 10 ner cent
;o'aiilnent OF the big war loan caiit
ing Tor about $3OO,O0OOOO being Jme
Inns MS is IN addition to the $50 0nO nN0
lnat was paid last Saturday Moreo
oNei' British investors showed H.
posltlon to take advantage Of the nS
ira 4R per cent discount allowed h.,
the treasury Department to all WHY
moalu pay their subscriptions in full
innstedG OF on the installment basis
nM0SoC org to London cables, over ST.
opo'oUO'oOO was paid over on Tuesday
ne preparations being 50 comnleie
mat little or no effect was noticeable
either IN the london money market or
me New York Stock Exchange
lhdeed, 1t may be assumed that we
nave nothing further to fear of FOREIGN
liquidation of American stocks, this
process having been completed insofar
as Its damaging effects upon our mar
kets are concerned. Sterling exchange
IS below the ordinary gold import lev
ieel, this situation evidently having been
Drought about by some private arranq-
ment between London and American
bankers tor the control of the gold
situation. 1t will be remembered that
iast autumn an important meeting of
international bankers was held in Lon
don, when an agreement was made to
take concerted action whenever neces-
sary to control the gold movement AT
that time the market had lust recover
ed from the effects of sensational re-
ports made by the British government
to the effect that America owed Lon
don many hundreds of millions of dol
lars which the London bankers asked
should be paid in full. The alleged
debts finally proved to be no debts at
all, but merely represented European
holdings of stocks and of bonds that
had not matured. Neither of these
classes of securities were debts. The
stocks and bonds could, it is true, be
sold if they were offered at a sufficient
ly attractive price. But there was no
reason for American investors or
bankers to take them, except the
prices were attractive. 1t was found
that fair amount of short term bonds
matured by the end of 1914. These
were duly paid and after that the bal
ance turned in favor of this country,
owing to the heavy exports of war
materials, and the restriction of i'm
portations of merchandise as a whole.
Investments.
After several weeks of inactivity, in
vestment bankers are unanimous in
reporting a better feeling in the bond
market. Predictions have been made
that during the remainder of the sum-
mer favorable bond market conditions
will be experienced and that prices
will continue to advance This assump
ton is based on the fact that Europ-
can liquidation has practically ceased,
and that funds which might otherwise
he employed in commercial enterprises
will for the present be diverted into
investment channels.
According to the reliable compiIa-
ton of the Journal of Commerce. Am
nrican investors will receive during
August $120.820.764. representing divi-
dend and interest Disbursements, This
compares with $118Oo2. o28 in August
wear aqo. or an increase Of $2.727-
S63 OF the "rard total dividends will
furnish $50 520764 a decrease of 81
072,164. Industrial corporations will
raw out to Stockholders $25643 4o5. a
decrease Of ST .64s0O4. as number Of
companies have either reduced or will
omit dividends. In interest payments
will call for $64. 400 OO0 against $50
500 600 last wear the increase being
du" tn new bond and note issues
Wall Street believes that the out
look for the resumption of dividends
and increased payments to stockhold-
ers in various corporations is more
favorable than for quite while
Larger disbursements that have been
announced from time 10 time hy com
nanics that have benefited nv war or
dcrs are expected to be followed he
fore : great while by the declaration
Of heavier payments on the part of
iron and steel and copper. as we'll as
NV some other companies In this
connection it is reported that Western
Union Telegraph dividend is to be in
| creased from s to 6 per cent, and the