The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-08-11
Business and Finances

earnings and postal receipts; more
new interpretations; greater building
activity and fewer failures.
Agricultural sections are now busy
with harvest which, though disap-
pointing as to volume because of re-
cent damage to the growing crops,
will to large extent make up in
price what it lacks in bulk. The
railroads in the spring wheat terri
tory will handle a tremendous lot OF
grain freight from now on. Nearly
all the large systems are doing well
as most of them are being operated
at relatively small expense and are
benehting from the policy of rigid
economy which became such factor
in railroad management as soon as the
European war disturbance developed.
A large volume of business is being
done in the West, and retail trade as
we'll as orders handled by mail order
houses, show surprising gains over
other years.
The current Government report.
showing condition of the growing cot
ton crop on July rs was received with
great Disappointing by the financial
markets this week, and its immediate
effect was sharp increase in the quo
tations of cotton futures. The Gov
eminent makes the condition of the
cotton crop on July rs as 723 per cent
of normal crop, compared with 81.l
on June rs of this year, 75.4 on July
rs last year, and 78.5 the ten-year av-
erage on July 25 The total indicated
production as of July Is is 12,916OOO
bales, but the final output will be
larger or smaller than this forecast
according as later conditions are bet
ter or worse than average. With the
single exception of 1909, this is the
lowest July rs condition for forty-fve
years. ~
Money
Bankers report a broadening de-
mand for money, and while there is
little evidence of tight money situa-
ton the banks in the middle west con-
tinue to predict a rising rate for
money in the early fall. All classes
of borrowers in that territory are in
creasing their demands, which, how
ever. can be amply provided for.
These conditions point strongly to
greater hrmness in interest rates, with
broader total borrowings from now on.
1t would seem as if money market
conditions the world over were becom-
ing more interesting. The rise in
the English bank rate reflected the
broader demand at London, in re-
Spouse to the rise in discount rates in
the United States. Never before in
so short time has country drawn
so much gold from the rest of the
world as the United States has re-
ceived in the course of the present
inflow from Canada.
! During the present month investors
will receive $l50,725,465 representing
dividend and interest disbursements,
according to the usual monthly COM
pilation of the Journal of Commerce.
This is new high record for this
period, and compares with $l2O,75O,-
sos in August, year ago, or an in
crease of $2o,274,957. Two hundred
and four corporations will distribute in
the aggregate $82,725, 465 to stock
holders, an increase of SIC, 274,o57.
This total covering dividends is based
on payments to be made by 100 in
dustrial and miscellaneous companies,
"a steam railroads and 70 street rail-
ways. This remarkable showing is
due to many initial payments, In
creases and extras. Some concerns
will make payments on larger cap
italization than year ago and it is
also worthy of note that the compila-
ton is nearer complete than in 1915.
Interest payments will call for $685.
100000 against $64,30O,3O0 last year,
the increase being due to new bond
and note issues. The City of New
York will distribute only a small
amount in the way of interest. A
summary of the August dividend dis
bursementsI with comparisons. fol-
lows:
1916 1915.
Railroads .........$36,422,138 $25,833,SS0
Industrials ...... 42,371,147 27,l68,2o5'
Street railways 3,o32,18o 3,448,333'