The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-08-25
Business and Finances

over the investment markets, and the
result has been an important revision
in sentiment as affecting important
securities While the railroad dispute
had not yet been definitely settled,
Wall Street early in the week dis
counted the favorable results of the
White House negotiations, and created
better tone in the railroad division
of the market
Another favorable influence was the
authoritative report that the new |
British loan, based upon the deposit |
of American securities as collateral,
would be successfully negotiated. This
will mean a distinct curtailment in
the supply of foreign-owned American
securities for sale, which means, for
the present at least, the arrest of the
heavy liquidation to which the market
has been subjected for the past six
weeks. The new list of securities
which the British government has de-
cided to mobilize shows the huge total
of three billion dollars in the hands
of British holders. The announce
ment of this new departure presents
some idea of the enormous demands
that have been made and are yet to be
made for American credit. The securi-
ties borrowed are pledged for five
years, and will be available for col
lateral during that period. The pro-
ceeds of the new credit will be de-
voted exclusively to the purchasing
of supplies in this country, and will
thus create a stimulus for immediate
export trade without an adverse eff
feet upon the sterling exchange
market
On the whole, Wall Street believes
that an era of good news for the bust
ness interests Of the country is now
on the schedule, and the indications
are that this will soon overcome the
uncertainty that has prevailed in re-
cent months. While this years crop
production has proved disappointing
as compared with last years record,
there is cause for satisfaction in the
fact that we have large surplus of
both wheat and corn from last year,
and that, moreover, the corn crop con-
ditions have shown substantial i'm
proyement in the last few weeks.
The liquidation of American securi-
ties by foreign holders, which has
been resorted to as the easiest way to
obtain ready funds, has apparently
reached the point where it will no
longer prove an important influence
on the market Present plans, in fact,
provide for tying up considerable
amount of these securities as are
available as collateral against a Brit
ish loan. There is also good news in
the fact that indications are that there
is not to be injected into the present
campaign the usual attacks on big
business and the so-called "moneyed
interests" which has been a deterrent
market factor in former campaigns
In short, the situation in the financial
world is clearer and more promising
now than it has been for many
months. The outlook is for good news
and an active market with higher
prices.
There is apparently no let-up in
general trade and industry in the
United States, notwithstanding tina,
mid-August is generally time of com
paratively low business activity. .Stee
orders remain unusually heavy, the de-
mand for textiles is widespread, ant
the development of export trade i:
! held back by the lack of transporta.
ton rather than by the lack of good:
: for transport. Shortage of labor con
tinues to exercise an important influ
ence upon industry, and the higher
and higher demands of workmen have
resulted in the shifting of laborer:
, from one industry to another. One
factor affecting this situation is the
check in immigration, which automati
r cally stopped when the war began
Prior to the war, over a million immi
= grants were entering the country eaol
. year through New York alone Sine
the war began, the arrivals have beer
: cut down to less than 100000 per an
D mum, and this inflow has been NOR
= than overbalanced by departures. Th
\ war, therefore, would seem to hav
9 cut off from our normal labor suppl.
= over a million people.
There is little or no change to b
noted in the position of the none,
. market Call money rules from t
d pa per cent, three months at 3H pc
: cent, and six months at 4 per CEN
Dealings in commercial paper ar
! light, owing to the small supply c
o the desirable class of offerings.
n L. w. Snyder, one of the we
l. known Deer Flat farmers, was bus
A ness visitor in the city SATURDAY.