Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-02-14
NORWAY RICHER
THAN EVER IN
SPITE OF WAR
F armers Have Had Profitable
Year and General Trade
Conditions Show Steady
Tide of Prosperity,
ASSOCIATED Press CorrespondenceJ

t1EsnfIHIeu ITttr correspondence
Christiania. Norway, Jan. 14.-Al-
though there is scarcely any industry.
trade or business in Norway that has
escaped the influence of the war, the
vear-end surveys of economic condi-
lions have generally shown the coun-
try as a whole to be richer than il was
a 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 and grain
doubling the price of flour and fuel
during the coolest winter the PENN
sula has experienced in seventy year,
has caused no little suffering among
the poorer people, but outside this
class it appears that more money is IN
circulation than usual.
1t has been difficult for the farm
ers to get sufficient quantities OF Tod
der and fertilizer, but, on the othcr
hand. prices on farm products nave
been higher than they ever were be
fore and the net result has been
profitable year for the farmers.
General trade has had many obsta-
cles in its way, but Notwithstanding
this new Industrial enterprises are con-
stantly being founded with plenty OF
capital at their command. An incl
dental feature of this new capitaliza-
ton is the fact that there has been
much speculation on the part of young
people. Even office boys and school
children have been speculating in
stock, eager TO get rich quick. a com
mon practice has been for people
without means to subscribe TO stock
in the 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 profit. This
has been especially true in the cas-
OF steamship companies which are
growing UP everywhere like muSh-
rooms In order to prevent such I'M
sound speculation the government Is
forming a measure which Will require
the stakeholder to pay certain
amount in cash before he can sub
scribe to stock and that will forbid
any transactions in stocks on which
nothing has been paid down.
Shipping Trade Elourismns.
The Norwegian shipping trade has
flourished as never before The high
freight rates, which show no signs of
reduction and scarcity OF foreign tom
mage has made the Norwegian ship
owner rich man. And this notwith-
standing that the loss to shipping as
a direct result OF the war has been
heavy In all. fifty-four Norwegian
steamers and twenty-eight sailing YES
sells, altogether representing $4,000
600, 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 before
ready to be launched.
Two months ago five motor tank
ships for the oil trade were ordered by
n newly formed Norwegian company
at American shipyards to be delivered
next fall. OF these four are already
sold to other companies (three To
France and one to 4 Norwegian com
pany) at a clear profit of 81, 250, $1,000
The stockholders have only paid
small part on their stock. and now the
is dissolved after couple OF
without conducting any real
business. and having cleared Il little
more than 100 per cent of its fixed
capital,
The lumber trade has also had
very good period The demand for
round timber and props has been 50
great that, notwithstanding the high
freight rates, the high prices have
given a great profit.
The fishing industry has had good
catch with prices doubled. Such a
product as raw cod liver oil sold at
a barrel a year ago. 1t is now sold
at more than $50 barrel.
Fishing Practically Abandoned.
Fishing in the North sea has prac-
tically been abandoned because of the
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 Fishing
experts declare that fishing in the
North sea when the war is over Will
be extremely profitable.
The canning industry has had many
to fight against. The in
creased demand from the belligerents
has caused an advance in the price OF
canned goods, but aside from that,
prices on raw material such as oliNo
oil. tomatoes. fish and meat have gone
up The canning plants are depend
ent on England for their coal and TIM
and shortage onthese products has
caused much trouble.
The price on tin is doubled and It is
difficult to get, as the British govern
nent has taken the tin factories fol
he munition product and Ensland
also is controlling the tin import to
Norway from the United States so il
seems that some of the large Norwe-
sian canning plants will have to close
Town
From the United States comes the
-eport that some canning plants IN
Maine have found it profitable to
work along the same lines as the Nor
Hegians and produce fishballs and
,anncd herring at prices lower than
hose imported from Norway. There
5 no reason known here why Amer
AN canning plants should not be able
C compete in this line--especially as
hey are now employing Norwegian
,xperts from the best factories here
NOW FEELS ENTIRELY WELL.