South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-11-27

prevent a substantial advance in
money rates on our side OF the At
lantic British interests lie clearly
against high rates Any such ad-
vance under current condition.
would. for example. be Of a discOu-
raging character in connection with
the financial plans OF the entente
powers. Advices cabled from Lon
don suggest the early announcement
Of "a new l0ng-term British war loan
which viii present conversion rights
for the older loans and at the same
time will appeal on favorable terms
for new capital When this loan is
20 be offered il will unquestionably
be deemed desira BILE 10 arrange the
money situation in a comfortable po-
sitiOn In order 10 assure complete
success for the transaction. In these
circumstances a lowering OF the
bank OF ENGLAND rate and "a general
easing Of government rates for ex-
Chequer bills and treasury notes will
probably be suggested. Obviously
IL would create a difficult problem.
threatening the maintenance Of ster-
ling exchanges on our side Of the
Atlantic. if there should be any sub
stantial advance in money rates here
at "a time Of pronounced reduction
abroad To avoid such a condition
81 would be necessary for the British
treasury TO send US considerable
amounts OF gold. In fact there is
excellent authority for the statement
that "A renewal Of the inward gold
movement which was suspended aft
er the recent successful hotation Of
$500, 100000 in United Kingdom
rotes will be resumed at an early
date.
Await Message.
The closing session of the present
/ congress is to convene on Dec. T. In
/ view Of the uncertainties abroad. the
/ Mexican troubles. and the labor and
other problems at home. keen inter
/ est not unnaturally attaches to Pres't
/ Wilson's policies TO be enumerated
/ ia his address 10 the legislature. IN
I'll some definite indication of their
/ character is available the uncer-
/ tainty will be apt TO induce a GER
/ tain amount of further restraint in
I stock exchange operations. Press ad
| vices from washington speak of a
/ desire on the part OF the president
/ for the enactment of legislation de-
/ signed TO prevent strikes on railroads
unless definite notice shall have
been given we'll in advance. This
/ is a provision that would very likely
7 be opposed by labor leaders, but is
one that would do much for all in
| terests. There also is a movement
! TO secure legislation limiting the ex-
ports Of American food products be-
/ cause of the high prices. This leg
| islation would be unwise The pres
| ident's explanation Of our foreign
relations will be awaited with inter-
/ est.
There is no perceptible sign thus
] far of any check to the country's
business activities Everything Is
still running full speed ahead. The
U. S. steel corporation has this
week announced another advance Of
10 per cent in wages, making the
third advance of this amount within
year. other iron and steel man
ufacturers are following the lead Of
the larger company and advances
are numerous in other industries.
Mills throughout the country are
making phenomenal profits, but it
is obvious that when the war ends,
as il must sooner or later. a general
readjustment must ensue. Ii then
will be necessary for labor to assume
/ its proper share OF the reaction,
/ which, however. is a position that
/ it is difficult TO believe the leaders
\ viii willingly take.
The outlook for the market for
| securities appears to favor active in
and out trading operations accom-
\ panied by rapid fluctuations.