The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-03-10
.Rusiness and Finances

tive builders have accepted contracts
involving total of SIG, 100000. In the
shipbuilding industry every American
yard is said to be engaged to its full
est capacity for several years. Orders
have been placed for forty-three boats
since January, and 1874 ships are al
ready under contract, us for the mer-
chant marine. and 50 for the United
State government. 1t is estimated
that 40 per cent of the export steel
sales have been for the manufacture of
war munitions in Europe. In addition
heavy sales have been made to domes
tic manufacturers of shrapnel and high
explosive shells, which will eventually
| find their way across the Atlantic.
The first distribution of dividends by
the two leading steel corporations will
be made this month The quarterly
dividend of the United States Steel
Corporation will call for $6,350,O0O and
the Bethlehem Steel Co., dividend
81 100000, a total of $7,850,000. Last
year neither company paid dividends
to the common shareholders.
One Bankers Advice on Speculation.
A well-known banking firm in Balti-
more sends out weekly resume of
local investment conditions with an &C.
casional reference to the general 6nan-
cial situation. The current issue con-
tains few words of warning that may
or may not be applicable to the other
cities in the United States, but which
in any case may well be absorbed by
those who feel inclined to try out
"get-rich- quick" program on limited
resources.
"The stock market at the present
time" they point out "is no place for
the credulous or the unwary, and yet
despite that fact the past ten days has
seen many instances of the shrewd
and thirsty withdrawing the savings
of years in the effort to make hand
some turn in the purchase of securi-
ties of the basic worth of which. or
potentialities of which they are in
utter and absolute ignorance 1t is
the fault, not of the system, but Of
human greed for speedy wealth that
has been productive of dangerous
situation. We are not to be under
stood as in any manner intimating
that the securities now being dealt in
extensively are not valuable or will
not in the long run be productive of
interesting returns; but the fact
stands out that the speculative craze
has shifted from Wall Street to Balti-
more and in many instances has been
responsible for spasmodic advances
which existing conditions may not
warrant; or, in other words, that the
buying impetus, coupled with periodi-
cal profit-taking and then resurgence
of the long element, has resulted in
condition of affairs which is not sus-
ceptible of adequate explanation. In
this respect, the speculative mania
will be productive of market effect
not unlike that of fever on the human
system; there will be abundance Of
excitement. nervousness and stimula-
ton while such artificial conditions
exist; but it will probably be most
unhappy patient when the fever sub
sides. &c. too, with the market Balti-
more would do we'll to read the lesson
written in the irregular tone now pre-
dominant in Wall Street as the result
of the mania for war brides and SINH
lar issues which held sway there few
months ago"
We are not sure that such a sweep
ing criticism would be applicable to
other investment centers in the United
States; and we are not ready to admit
that a speculative wave has obscured
the vision of the American public to
such an extent that they are willing to
exchange their hard-earned savings
for gilt and tinsled-though worthless
stock certificates. However, all such
warnings are timely, and similar pre-
cautions have been repeatedly sounded
in this weekly review.
Regulating Big Business
The American Can Company de-
cislon, handed down by Justice Rose
of the Federal District Court Wednes-
day is very commentary upon the
change of sentiment toward legitimate
big. business" 1t is significant that
the learned jurist, in passing upon the
case, held that the corporation in ques-
ton was formed in d;rect ,,;ol,t;o,, al