The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-03-31

this country. These conditions,
coupled with the difficulty of obtain
ing certain raw materials and an in
crease in the price of labor, have re-
suited in a rapid increase in the price
of steel products.
| The United States Steel Corpora
ton, in its annual report, shows gross
sales and earnings in the sum OF
$726, 683, $50, an increase of $l68,2o8, !.
CSC over 1915. Surplus net income for
the year totalled $44,260,375. The
total undivided surplus on December
81 last, exclusive of profits earned by
subsidiary companies on inter-com-
pany sales of products on hand in in
MEMORIES, was $lSOO25, 1929.
The statement of Phelps, Dodge <
Co. for the year ended December 81
last reveals total net receipts from
the companies operations of $l0O8l,-
5l2, which compares with $6,664, 1889
the previous year. After dividends a
balance of ST 1881 ,6l2 remains. whereas
in 1914 it amounted only to 1864, 839.
President James Douglas, in his re-
port. states, in part, that "the total
production of all the companies for
1915 amounted to 140,478,O03 pounds,
an increase of 8,8l5,67o pounds from
company and custom ores over the
output for the previous year. This
large output was secured, although
the production, (which had been low
cred in 1914 by reason of the stagna-
ton of the markets, was still curtailed
for two months of 1915. and was fur
Their affected by the strike which
closed down the Detroit mines in Sep
TENDER until after the close of the
year. The Mexican troubles also re-
peatedly paralyzed railroad transporta-
ton between Nacozari and Douglas,
and compelled us to close the Naco-
zari plant for lbs days.
Loans to Foreign Governments.
The return of J. P. Morgan from
London has revived the rumors of adj
ditional loans to the Allied Govern
ments. Mr.. Morgan reports that the
British Treasury had been signally
successful in its mobilization" plan,
and that SO far as he knew it would
not be necessary to contract for fur
Their loans outside of the British Eni..
pire. No new credits against the
American securities modified in Lon
don had been arranged by him for the
Entente Allies, nor does he think that
our banking organizations will be
again called upon to perform service
similar to the half-billion-dollar credit
put through last year.
Meanwhile, announcement has al
ready been made of the formation OF
an American syndicate headed by the
Morgan company to market loan OF
SIS ,0O0,0 900 to the Canadian Govern
ment. These bonds will bear FIVE per
cent, will mature in five, ten and fif-
investment basis slightly in excess of
five per cent, The public offering will
doubtless be announced next week.
The purpose of the new loan is two
fold: first, refunding of one-year notes
in the amount of $25,00O,000 due on
August first; and second, making pro-
vision for the regular internal needs
OF the Canadian Government for the
present fiscal year. No more Canadian
loans are to be offered in the United
States this year, and it is therefore
more than likely that the demand for
these bonds will be so great that they
will be oversubscribed in very short
order. 1t will be remembered that in
August of last year the Morgan syndi-
cate purchased an issue of $40,000,000
hve-year five per cent notes of the Do
minion Government, and that when
offered for public subscription there
was mot nearly enough to supply the
popular demand for them. A FIVE per
cent Investment secured by the good
faith of the Canadian Government is
so very far above the average munich
pal security that investors are not
slow to take advantage of the oppor-
tunity to secure all that their surplus
funds will cover.