The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-03-03
New York, Feb. 20. 1916.

All the reliable trade barometers
are now set for fair weather, while
definite reports of past accomplish
ments confirm the optimistic predic-
tons that were made six months ago
by trade and financial experts. Even
our foreign trade. which was SO rude
ly interrupted by the outbreak of the
European war, has about settled
down to normal; and, while the char
acter of our exports has largely
changed in order to meet the new re-
quirements of our European customers
the total volume is tbout equal
TO the average of the five-year period
preceding August, 1914. According to
the records of the Department of
Commerce at Washington, both i'm
ports and exports are now almost 50
per cent higher than at this time
last year, and show a complete recov-
cry from the partial paralysis that
followed the outbreak of hostilities
in Continental Europe.
In domestic business, the reports
are much more favorable. Trade is
healthy, unemployment is decreas-
ing and the recent period of cold
weather has greatly helped the move
ment OF winter merchandise. The de-
crease of unemployment. and conse-
quently of want and suffering among
the working classes, is very appar-
ent in New York City. and is empha-
sized by the inability of the Munich
pal officials to find sufficient work
men for the task of removing the
snow from the city streets. Last
year at this time many skilled work
men who were out of employment
were glad to stand in line and handle
the shovel for whatever they could
get, in order to provide the bare
necessities of life. This year, there
is even a dearth of the cheap labor
that is almost always in excess sup
ply in the winter months. Similar
reports reach this center from every
outlying section, and with peace and
plenty" as the watchword, this coun-
try should be able to accumulate a
surplus that will not only be largely
instrument in building up the raw
ages made by the European conflict,
but will place the United States in a
much more favorable financial posi-
ton among the nations of the earth.
1t is rather singular that with all her
wealth and affluence, the United
States has always been reckoned as
a debtor nation If. however, as
much progress is made in succeeding
years as has been made during the
last twenty months, we shall doubtless
occupy our rightful credit" position
before another decade has passed.
Stocks and Investments.
The action of the stock market in
recent weeks continues to reflect the
waiting attitude of the investing pub
lie, which is apparently waiting in pa
thence for the solution of grave inter
problems. The majority of
Wall Street commission houses are
advising their customers to exercise
extreme caution in selecting their Sc
curity purchases, pending a satisfac-
tory adjustment of the German sub
marine question, which it seems will
never be settled until it is settled right.
There is thus marked feeling of
in the financial and spec
ulative markets, and caution appears
in every quarter. This has been re-
Elected in the disposition of the larger
numerical banks to limit their loans
on Stock Exchange collateral, and to
mark down the borrowing value of
number of securities which have sud
denly risen in the estimation of those
who are eager to purchase them at
rapidly increasing prices. This con
'ervatism is also shown in the policy
Of the directors of the larger corpo-
ratlons in Withholding the unusually
arge earnings Of the past year from
among their stockholders, ,
)reterring to use these extra earnings
or the building up of substantial sur t
buses against future developments.
there is still feeling of great UNI
certainty as to the worlds CONNER
ial and financial condition after the {
var, and no one will question the wis t
lom of the directors in carrying out ,
he policies referred to above. Fur t
hermore. the ominous rumbling of s
he Presidential election, which comes |
n the latter part of this year, is al {
eady heard in the distance, and con-
ervatlve business men know full we'll ,
he unsettled influences of Prcsi- i,
,.ential campaign. The stock market =
therefore, continues highly profession r
i, and total transactions are much be- I
ow the average of recent months. /
The demand for good railroad. in t
ustrial and municipal bonds contin f
les, and investment bankers find it S
ifflcult to supply all the calls that are a
made upon them for this class of Sc r
urity: The price of good bonds has S
risen, which means, CON
ersely that investors are willing to
ccept lower return on their invest "
lent. Bond houses which deal in c
bonds also report a stead II
y advancing market for U. S. Govern c
lent securities; the investing public I