The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-02-11
.Busi1ess and Finances
By W. S. Cousins. Editor The American Banker

timber and agricultural enterprises.
Whatever advantages we may have IN
trading with Canada on the score OF
propinquity, ease and freedom OF per
sonal intercourse, and similarity OF in
dustrial standards, American invest
ment has necessarily created a de-
mand for American materials. with the
result that, in proportion to its popu-
lation. Canada is the best customer we
have.
The deductions to be made from
this aspect of the situation are as inn
portant and as applicable to the in
div1dual investor as to the financial
and commercial organizations which
are to promote our trade relationships
abroad; and through the instrument
tality of these organizations American
investors will find wholesale and a
profitable source of employment for
their surplus funds.
Index to War Profits.
The attention of investors has fire.
luently been called, in this review,
to the necessity of discouting the
many highly colored predictions as to
the enormous profits that were sup
posed to accrue from the orders for
war supplies from the European bel
ligerents. The annual report of the
American Can company. one of the
so-called "war stocks" amply confirms
the many predictions that have been
made on this score. The report shows
that while numerous contracts were
entered into for the furnishing of war
goods to Europe, up to the present
these contracts have been a source OF
expense instead of revenue; for they
have produced nothing and have nee
essitated the expenditure of over $500
600 preparatory to the work of hand
ling the first of these contracts. This
expense has been charged against
1915. Nevertheless, the domestic
business of the company has been such
that net earnings have been $4,000
above that of the year ending Decem-
Der 81, 1914.
Should there be a sudden cancella-
ton of any large proportion of these
orders, the opportunities for profit will
interested to know how far these con-
dltions will apply to other of the war
stocks. At best it was only during
the last few months of 1915 that the
deliveries of war materials on a large
scale were made by American manu-
facturers to the Entente Allies. 1t
would not be surprising, therefore, if
the annual report of number of other
war insdustrials should prove disap-
oointments. since there obviously have
been large OUTLAWS in preparations for
profits that are yet to come.
Worlds Trade Back TO Normal
Statistics have recently been pre-.
sented which show that the volume of
the merchandise forming the interna-
tional trade of the world is now ap-
that of the period immedia-
tely preceding the war. 1t is true that
there has been radical change in the
character of the merchandise. ouanti-
ties moved and countries participating
n world trade, but the figures of total
value for all the world, if they could
De compiled for the last half of 1918.
would be surprisingly near those of
the last half of the year immediately
preceding the war. This estimate is
based upon the official figures of trade
of all countries, the statis-
of which are now avail
able. These countries, for which
monthly trade reports can now be OBJ
aimed. number fourteen and their
rade in normal years forms about S.
Der cent of the recorded foreign trade
n the six months ending September,
ol5 is but 6H per cent below that of
he first six months of 1914, and the
average is but 81 per cent
below that of 1918, the year of the
worlds largest trade record.
The character of the merchandise
orming the trade of the war neriod
iiffers radically from the normal and
he quantity in MANY cases fa;is 70
show as near an approach to normal
IS do the figures Of value. prices in
most cases beino mater;ai1v h;1bn