The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-01-28
NORWAY ENRICHED
BY EUROPEAN WAR
Speculation is Rife and Even
Office Boys Clean Up
Good Money Easily.
tsY AsseeiArEp raEss,
C~HRISTIANIA, Norway, Jan.

CHRISTIANIA, NORWAY, Jan. i
Although there is scarcely any indus
try, trade or business In Norway that
has escaped the inience OF the war
the year end surveys OF economic
conditions have generally shown the
country as a whole to be richer than
1t was q year ago, at least from the
view point OF the capitalist.
The closing OF the usual markets
on which Norway has been dependent
for such necessities as coal ana
grain-doubling the price OF flour
and fuel, during the coolest winter
the peninsula has experienced in sew
enty years-has caused no little SUI
fering among the poorer people, but
outside this class 1t appears that more
money is In circulation than usual.
1t has been difficult for the far
mers to get sufficient quantities OF
fodder and fertilizer, but, on the
other hand, prices on farm products
have been higher than they ever were
before, and the net result has been q
profitable year for the farmers.
General trade has had many OBJ
stacles in its way, but notwithstand-
ing this new industrial enterprises
are constantly being, formed, with
plenty of capital at their command.
An Incidental feature Of this new
capitalization is the fact that there
has been much speculation on the
part Of young people. Even Office
boys and school children have been
specializing In stocks, eager to get
rich quick. A common practice has
been for people without means to
subscribe to stock in new companies
and then after a few days or weeks,
when the stock Is rising, even before
any capital has been paid In, to sell
at a profit. This has been especially
true In the case of steamship COM
panies which are growing up every
where like mushrooms. In order to
prevent such unsound speculation
the government is forming a measure
that will require the stakeholder to
pay q certain amount in cash before
he can subscribe to stock. and that
will forbid any transaction in stocks
on which nothing has been paid
down,
The Norwegian shipping trade has
flourlshed as never before. The high
freight rates, which show no signs of
reduction and the scarcity Of foreign
tonnage have made the Norwegian
shipowner a rich man. And this not
withstanding that the loss to ship
ping rs a direct result Of the war has
been heavy. In all, fifty-four Nor
wegian steamers, ana twenty-eight
sailing vessels. altogether represent
ing $4,000 900, have been blown up
with the loss Of seventy-one sailors.
New ships have been added, however.
at a faster rate than ever before,
and still the yards are unable to
keep up with the demand.
A number Of ships have been or
dered at American yards, and some
OF them sold several times over be-
fore ready to be launched.
Two months ago five motor tank
ships for the oil trade wer ordered
by a newly formed Norwegian COM
pany at American s%hipyards, to be
delivered next fall. OF these four
are already sold to other companies
(three to France and one to o Nor
wegian company at a clear profit
of $1.250.000. The stockholders had
only paid a small part on their stock,
and now the company is dissolved at-
ter q couple Of months, without con-
Quoting any real business, and hav-
ing cleared a little more than 100 per
cent Of its fixed capital.
The lumber trade has also had q
very good period. The demand for
round timber and props has been so
great that, Notwithstanding the high
freight rates. the high prices have
given a great profit.
The fishing industry has had al
good catch with prices doubled.
Such a product as raw cod liver oil
sold at SIS a barrel a year ago. It is
now sold at more than $50 a barrel.
Fishing In the North sea has prac-
tically been abandoned because Of thu
war and is in that way protected. q
protection that has not been possible
before although some OF the interest
ed nations have In vain tried to come
to an agreement In that way. Fish
ing experts declare that fishing in
the North sea, when the war is over
will be extremely profitable.
The canning industry has had
many difficulties to fight against,
The increased demand from the bell
ligerents has caused an advance in
the price Of canned goods, but aside
from that, prices on raw materials as
olive oil, tomatoes, fish and meat
have gone up. The canning plants
are dependent on England for their
coal and tin, and shortage on these
products has caused much trouble.
The price on tin Is doubled and 1t
Is difficult to get, as the British gov
eminent has taken the tin factories
for the inunition production and Eng
land is controlling the tin import to
Norway from the United States so 1t
seems that some OF the Norwegian
canning plants will have to close
down.
From the United States comes the
report that some canning plants In
Maine have found 1t profitable to
work along the same lines as the
|Norweglans and produce fishballs
and canned herring at prices lower
than those imported from Norway.
There is no reason known here why
American canning plants should not
be able to compete In this line
especially as they are now employing
Norwegian experts from the best fac
tories here.