The L'Anse sentinel., 1915-04-10
BIG BUSINESS GAIN
AMERICA THRivEs IN WORLD
CRISIS As OTHER NATIONS
FIGHT.
HELPED BY FOREIGN TRADE
Advance 10 Felt From the Atlantic
70 the PaeIhe-New York stock Ex.
change Aboilshss Minimum Prices
a. Needless Defense.

Chicago, April 2.-Development,
along lines of Industrial activities
throughout the United States were
reported in greater volume and ovel
wider territory on Wednesday thar
at any time since the first squirt oi
business at the beginning Of the year
Reports came from the Montana and
the lake copper districts telling Of
the opening of mines and smelling
plants that have been closed or oper'
ating small shifts for months, and
also that wage advances were being
made among miners and other work
ers.
From the steel districts around Chi
cago. in Ohio. Pennsylvania, and else
where similar reports OF growing activ-
ity were heard. Dispatches telling OF
increased operations In New England
marked the one territorial extreme
and the gains In industries on the
Pacific coast marked the other.
The spirit OF improvement In busi'
ness and the securities markets was
reflected throughout Chicago business
circles. Bankers and business men
concede strong evidences OF a sharp
revival in trade and finance. The re-
ports received by them from all quar-
ters told OF greater activities.
Brokers' Offices were crowded and
enthusiasm ran high as the stock
market advances seemed to presage
approaching business prosperity.
Bankers and business men say the
great demand the war has thrust upon
the United States for practically
everything 1t can produce will bring
great prosperity to this country.
The immense trade balance Of near
ly 5000, 100000 in favor Of the United
Stateo seems to tell the tale. Gold
commenced to flow swiftly into this
country and the only check was the
creation of huge credits here by the
powers of the old world that are TAX.
ing our merchandise and products OF
every description.
France has negotiated loan OF
$50, 100000 in America. Germany a
loan Of $10,000,0 900, Great Britain is
arranging for 3.oo,ooo,oOo and Russia
is expected to come here for $25.0O0.-
600 or possibly $50.000.000.
These countries are selling their Sc
curities in the United States and on
terms of their sale the proceeds must
be kept In this country as credit
against which purchases will be made.
These credits mean enormous sales OF
everything in addition to the stun that
has already been taken from our
shores and for which payment has
been made.
One of the strongest evidences OF
the confidence American bankers have
in the present and future financial
position Of the United States was re-
fiected in the action taken by the New
York stock exchange yesterday. when
the governing committee abolished
minimum trading prices. These were
established as q safeguard against
liquidation on December Is last The
exchange had been reopened three
days before after being closed for sew
eral months because Of financial con-
ditions due to the European war.
The reasons of the committee for
abolishing the minimum prices were:
/. Most ruling prices are far above
the minimum levels, making arbitrary
limits useless.
2. Gains in American financial az
fairs and foreign trade have removed
the danger of excessive LIQUIDATION.
As result, trading on the stock ex-
change is restored to normal basis.
the supervising committee of three on
duty since December IL has been dis
charged, and the governing committee
again Is in control.