South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-08-21
REVIVAL NOTED
ON STOCK MARKET
War Again Given as Cause for
Resumption of
Activity.
BY Henry Oews.


NEW YORK. Aug. 21.-Quite a
revival developed on the stock ex-
change, the market being more ac-
tive and stronger than for many
weeks. Directly and indirectly the
war again proved the chief stimu-
lus The Eesdiaption Of war orders
decisively affected the muniuon
group. and the general market
stifened under the success Of a new
British loan; while railroad shares
were visibly affected 10y belief that
there would be no strike. The con-
sumption Of ammunition in the pre-
sent cruel war staggers 90 supply
her own wants. both as 20 shells
and guns. and intimates that she
will soon be ready 90 assist her
allies in this respect. Nevertheless
both shells and guns are being con-
sumed upon a stupendous scale,
and bigger repeat orders are COM
ing 10 American manufacturers
than ever anticipated; all OF which
does not portend an early end Of
the war. such orders are being
placed with greater discrimination
than in earlier stages OF the strug-
gle. and are going chiefly 10 large
and responsible concerns whose pro-
ducts have best stood actual test
While new orders are being placed
upon a better business basis, and
are not encum bered by such extra
VACANT commissions 10 promoters
as marked early contracts. there
Is still a handsome profit TO con-
Germs which obtain these orders and
which, needless 20 say, mean con-
tinued activity and prosperity for
the American steel industry into
1917 Some munition concerns are
being dismantled of their war ma
chinery usually those whose profits
were below expectations OF those
whose output had not proven salts
factory. The evident prolongatiOn
of the war means a continuance Of
big exports, further imports OF gold
or securities, also additional big
credits 10 the allies; all OF which
we can readily handle thus point
ing 10 continued prosperity. AS al
ready intimated i'm these advices,
when the war ends our steel plants
Will be occupied for some time in
satisfying reconstruction demands
of Europe. where railroads indus
trial plants. etc, will have 20 be
Immediately restored. particularly
in France and Belgium ON this
account alone, many millions Of
steel products VIII be sold TO Europe
WheG peace Is declared.
strike Held Remote.
AT this writing. il is impossible
20 anticipate the result of the great
controversy between the railroads
and their employees. The couse-
quences to both sides of a nation
wide paralysis OF traffic are so grave
and mOmentous that q strike is re-
Earded as almost impossible, be-
cause neither side really cares to
deliberately face the consequences
of an aroused public Indignation.
Perhaps the threatening attitude Of
the unions has not been taken with
sufficient seriousness. but IN any
event. the vigorous initiative which
Pres't Wilson showed in aiming for
settlement had "a quieting effect
and was undou Dtedly a prime fac
.or in saving the country from SER
ious trouble. The dihculty will
probably he adjusted by concessions
on boIh sides Fortunately the de
mands come upon the railroads at
"a time when they are fairly able TO
90 meet them. IL present volume OF
traffic is maintained: but the crisis
reveals the fact more strikingIy
than ever that relations between
the railroads and the government or
public are at presenf upon q basis
of injustice Some establishments
must be made III the railroads are
10 prosper and maintain their abil-
ity TO attract capital for necessary
improvements and expansions. I'm
der present conditions. railroad
owners work for "A wage that the
government restricts. does not pro