The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-04-14

New York, April 8, 1916.
Because of the declaration of many
initial and extra dividends by Ameri-
can corporations which have prohted
exceedingly through their enlarged
trade with the European belligcrent
nations, the April disbursements for
this purpose will be unusually heavy,
and will set a standard which will be
difficult, if not impossible, for future
monthly periods to duplicate. Indus
trial and metal companies have re-
f1ected in their current output the ex-
tremely high tension under which they
have been operating, and in some cases
their managers have expressed the
opinion that such a pace cannot long
be continued, except at the risk of
disastrous physical strain. These
activities are reflected also in the
greater demand for labor, both skilled
and unskilled, and in the decrease of
unemployment in every section.
The New York State Department of
Labor, in a special bulletin just to
hand, reports that in February the fac
tories of the Empire State had 10 per
and paid 81 per cent more wages than
These facts are deducted from an
from about thirteen hundred represent
tative manufacturing establishments
with nearly half million employees
scattered throughout the State. The
dominant factor in the increase in
volume of business in recent months
has been the extension of activities in
the metals machinery and conveyances
group and in the clothing and millinery
group of industries. Smaller, though
important, increases were recorded
also by the wood manufactures
group, by the textiles group, by the
furs. leather and rubber goods group,
by the paper-making industry and by
the food, liquor and tobacco group.
Distinct loss between January and
February was recorded only by the
stone, clay and glass products group
of industries. All industry groups ex-
cept water, light and power are doing
a much larger volume of business than
one year ago. The metals, machinery
and conveyances group, in which &C
tivity has enormously increased
throughout the past year, employed 40
per cent more operatives and paid 81
per cent more in wages in February
than in the corresponding month one
year ago. The furs, leather and rub
Der goods group in February of this
year paid out in wages third more
than last year, the chemicals, oils and
paints group and the textiles group, a
fourth more. the stone, clay and glass
products group and the wood manu-
features group each fifth more, and
the remaining groups of industries ap-
proximately one-tenth more
During the first three months of the
current -ear the new financing of
American railroads and industrial cor
porations, which are represented by
their new bond, stock and note issues,
amounted to nearly $775,000,000, an
increase of over 20 per. cent over the
similar period last year. This is the
direct outcome of the record volume of
general business, to meet which many
companies have been compelled to re-
sort to financing on an extensive scale.
Moreover. such operations are likely to
reach proportions of considerable mag
nitude for some time Capital issues
announced in March indicated total
of $274,647, 800, compared with $50, 327-
600 in 1915, or an increase of nearly
$50 per cent Sums used to pay off
or refund maturing obligations furn-
ished between 20 to rs per cent of
the total. No account is taken of the
new $75,0O0,OOO Canadian Government
loan, nor State or municipal bonds
which were marketed quite freely. In
April the maturities will total $45,772,-
600 against $53,935,000 in March.
From the regular statistics of The
Journal of Commerce we deduct the
following classification and COMPARE
son, the figures covering the first
three months of the respective years:
Railroads.
1916 1915 Change
slss.s0l. 100 $232,79 800 : $4s.9o7 200
100000 36,77o,soo + s2,s49,2oO
Stocks
2O,S63,4OO 3,o50,OOO + l6,ol3,4Oo
$2oo, O74, 500 $273, $40, 100 + $25,555, 4OC
Industrial Corporations.
Bonds
sls4,i92,soo $ss.s23,ooo + $o5, 1869, SOC
Notes
ll7,so6,lOo 62.7Os,sOo + 54.soo.6oC
Stocks
2OO,ll5,4OO 24,l3l, 900 + l75,oS3, SOC
--
$47l, 900, 800 $l7s,660, 400 +$2o5, 143, ACC
l77O,o7S, 800 $44o. l7o, 500 1881 .7so, SOC
During March the railroads put on,
new issues in the total sum of $685.
a. r. ~ 4 q A