South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-03-06

charges; old plants will be written
off or new ones created, thus leav-
ing the best managed concerns bet
ter off after the war than before 1t.
The whole country should begin at
once conserving it's war profits. not
spending wastefully, not swelling
dividends unwisely, and not too
recklessly Initiating security values.
but aiming TO strengthen itself for
the world struggle for industrial SUI
premacy which will come upon us
irresistibly when the war is over.
That struggle will be won by the
nation which can produce and dis
tribute the best goods at the low
est prices. This approaching COM
petition is absolutely unavoidable;
We are not yet prepared, and the
higher the level Of prices and costs
maintained now. the more difficult
our readjustment and progress will
be later on. and the less our ulti-
mate ability 10 meet the strenuous
rivalry with Germany and Great
Britain that will be forced upon US.
The war has not yet approached the
end nor have its infiationary in
huences yet exhausted themselves;
but preparedness for the change
that is coming should not be con-
lined to industrial and financial lead
rs. and conservation OF our re-
.ources Will be the policy of all
prudent business men until the pres
emit world chaos begins to clear and
the new tendencies become more
definite.
General Conditions Favorable.
General business conditions at
home continue hishly favorable
Bank clearings are satisfactory.
running about 80 per cent ahead Of
last year the greatest activity being
IN states east of the Aueghenies No
more striking evidence could be
found of the violent changes which
the great conflict across the sea has
wrought on this side of the Atlantic
than in our own steel trade, which
maintains unchecked is headlOng
and sensa t-onal upward movement
Ina prices and production. Many
mills are sold ahead into 1917 at
unheard of profits. The copper in
dustry also shows extreme activity.
CLOSELY haraleling the course OF
steel I'm prices and production. The
same is partly true OF other metals.
Petroleum is also rising TO a sen
sational level owing 10 the tremen-
dous demand both al home and
abroad for motor purposes. In the
chemical industry many products
have shown spectacular advances as
result OF scant supplies. which
can usually be traced 20 the de-
Wands OF war. Needless To say the
securities of these companies have
made large advances and are COM
mon fatorites in speculation
New Enterprises Revive.
There has been wide revival in
new enterprises The new corporate
issues reported since Jan ] aggre-
gated over $496.0Oo. 600. compared
with 1897. 0CO. 600 last year. am in
crease OF SOS. 0Co. coo the year be-
fore These are unusual gains and
some deduction must he made FOR
the transformation OF capital. but in
the main the Increase was chiefly in
new concerns I'm the steel copper.
petroleum and other industries di-
-eCtly affected by the war. There
was also a large increase iu the num-
her 90 new shipping concerns. the
total ~ which organized since the
war aE~regated over $4,000. 600.
also the total contemplated i'm Pres't
Wilson's shipping bill American
ship owners engaged In foreign trade
are making fabulous profits. freight
rates in MANY instances being ten
times what they were before the
war. while ships have risen two.
three ard four times their original
value paying their cost in a few
VOYAGES Singularly enough. there
was decrease in January and
leurusly OF over S200. COO O0 in
new Cailroad issues Of stocks and