Imperial Valley press., 1916-11-20
THE BUSINESS OUTLOOK.

Advices from show that advance buying
well ahead of what it at this time last year In GER
tain sections Of the West the total business done shows
the largest volume ever reported Expansion is still go
ing on. Retail totals also level which indicates
widespread prosperity At industrial centers especially
there has been increased buying of good merchandise
feature in the large cities has been the unusual demand
for the better grades The whole country is well
poyed and in many cities the main problem still is to OBJ
tain adequate supply Of labor At some manufacture
ing plants it has been impossible continue capacity
operations because there not sufficient workers to
insure such production, says report just issued by the
Wells Fargo Nevada National Bank
Trade with other nations never as great it is
today Taking into account the S512,S41957 shipments
in Sepembe-the largest monthly export reported
the volume of exports during the first nine months Of
1916 reached total Of S390000OOO larger than ever
shown before in full calendar year This means that
The Of the world during threequarers Of 1916 pu
chased from nearly S4000000O0 foodstuffs and
merchandise than were ever similarly purchased before
In full tWeIVe-nOnth period.
The railroads continue report excellent earnings
which would be larger had the carriers sufficient
cars Traffic experts have been studying freight con-
geston in cooperation with railway officials
neVe the car famine as much as possible 1t IS reported
that there exists shortage Of at least 10000 and
that shippers could good many if they could
get them The roads making large expenditures for
equipment bet this is hard to procure. since the
companies have more business than they handle
the present. Furthermore, the roads must,
possible take up plans for construction work, The
need for this IN some sections would seem to be lmpera
tive, if the roads render the public adequate seV
ice Important financing in connection with these
plans Will probably be undertaken before the year
las far advanced Much depends however, upon the dis
closure of the inquiry which is to be made into the pros
pecve workings of the Adanson eighthOur law, and up
on the labor situation genera ly.
Railway supplies have advanced sharply and in some
instances the question of securing material is
Of price much is of obtaining quick deliveries
IN the first ten months the railroads borrowed about
S525OOO0OO through the sale of securities While
these borrowings were $5OOGO000 in Of those re
ported IN the same period last year the provision
grossly inadequate when the total demand is taken into
account The roads must command additional capital if
lney are properly TO augment their equipment
The extraordinary demand for steel and iron contn
Ies to be reflected IN increasing prices There has been
immense Duylng OF rails, cars and other equipment with
IN the last American agents of foreign roads
1t is reported that this buying is likely to continue for
some time to come since It is evident that many foreign
roads are not sufficiently equipped both outside and in
"lde tne war area The demand for structural steel is
natural enough III view Of the large building operations
undertaken at various centerS. High price of building
material IS hampeng those in charge of important pre-
ects lhe country productive machinery is badly over
taxed Within tie last few weeks it has been necessary
Tor various manulacluleIs T. turn down large volume
OF lucrative business which they would have been Glad t.
nave taken had they the requisite facilities at hand Ef
Orts are beng made enlarge the output Of various in
JuSta plants throughout the United States and SO far
most OF these ventures seem to be planned avoid specu
latiVe eXcesses.
significant Development has been the boarder in
Vestneh demand Tor nigh grade securities. There have
been large amounts Of unemployed capital awaiting r-
vestmen in this country and it now seems that some q
This is being used for the purchase Of really good Amer
can issues Within the last three weeks the volume Of
this investment buying has reached new hioh total far
me year notwithstanding the fact that very large foreign
loans nave been put out
There has also been revival Of speculative activity
on the stock exchanges with broader Dubic n1ino ,it
this movement has yet reached the nron0rtinnc 0f
other years. Much of the activity has naturally benn IN
me shares Of industrial companies which have benefited
oTecuy or indirectly IRON foreign orders Prices are
materially higher rejecting the SURPRISING esrniHas
Wmcn many OF these corporations are showing 1t Ks be
Ieved also that these companies in many instances viii
20 lucrative business Tor some time after the war ends
indeed, the indications that for some Of or oe