The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-07-14

lions prevailed in the New York stock
market in the early part of the week,
and, while the volume Of trading was
orrespondingly small, the price move
ments were in the main toward high
er levels. Some of the bears who
figured that the time would be oppor-
tune to pound down the market found
that they had forgotten to reckon with
the July dividend and interest dis
bursements, which brought consid-
cradle quantity of new money into In
vestment channels. This mid-year
payments to investors this year have
been exceptionally large, and this has
not only provided an incentive for the
continued purchase of prime securities
but has furnished the capital for new
commitments.
One of the features of the stock
market in recent weeks has been the
heavy selling of munitions stocks, not
by the investor, but by the pro-
fessional trader. In seeking an eX-
PLANTATION of this turn of affairs,
many people are inclined to attribute
this condition to probable embargo
on the expectations OF munitions to
| Europe, Or to the proposed tax on
munitions sales, or to some such rea-
| son. Dul IlltSC dlC Id II Olll NOllNS''
The fact is that the industrial con-
Germs which have expected to reap
| such heavy profits from the manufac-
ture of these war materials have
greatly overestimated their prospects,
| There have been so many contendlng
! features, such for example as the dis
appointing volume of output and the
heavy percentage of reflections, that
in almost every instance the expected
profits have vanished into thin air,
In others words, the temporary arsen>
ais have not been a success. On the
other hand, munition factories which
have been specially constructed for
the purpose and which for years have
been perfecting the quality of their
products have reapcd a considerable
harvest.
Crops and Business
Current business conditions are
without decided change in any re-
spect, the high records so often re-
ported in the past being maintained
on as satisfactory a basis. Some dis
appointment is being felt in the agri-
cultural sections because OF reduction
by about 100000, 1000 bushels in total
wheat crop; but present indications
are that the spring and winter wheat
crops have improved since the last
government report. Spring wheat is
backward, as is corn, which has been
retarded by abnormally cool and wet
weather. Flood damage is reported
in some states where considerable
acreage has been lost, The outlook
for hay and alfalfa is good. Some an,
thorities are still pinning their faith tC
a 750,O00,0O0 bushel wheat crop, but
others regard this as excessive ant
: will be glad to see 72O,000,000 bushel,
actually harvested. The amount car,
: ried over from last ear. however, i:
unusually large, so that the indica
: tons are that the net return received
by the farmers for the total supply
will be very satisfactory.
The steel business in the UnitcC
States, according to +. II. Gary, of tn,
United States Steel Corporation. !:
better than ever before The produc
: ton is larger, the profits greater anC
the workmen are receiving hlghc
wages. The untitled orders for TIL,
: various products of the subsidiar,
, companies of the corporation aggre
! gate nearly 100000 tons and abou
100000 tons of this total have al
t ready been specified for actual deliv
cry Besides, the present daily book
: ings are about so per cent of full
capacity and would exceed such ca
I pacity except for the fact that thu
: accumulated orders and specification
: necessarily too long delay deliverie
on account of new orders. The mill
2 are producing at the rate OF 5l,OU
or $1,000 tons per day. The earning
: for the surrent quarter will not b
: made up until the day the figures ar
: given to the public, but it seems ap
: parent they will be in excess OF TIL
I earnings for the last quarter.
e Coming Economic Conditions
; One result OF the great war is TIL
National and racial passions which i
has aroused and which will not die on
for many years. This great con1ic
: has driven the entente allies into
close union which will not cease will