South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-09-25

This is additional TO considerable
amounts that were returned when
the Balkan wars SO thoroughly up
set European capitals But there
seems excellent basis for the belief
that as a practical proposition the
return movement has about ended.
Whatever Of our securities are still
abroad are, as o broad proposition.
deposited wi.h the British treasury
and are to be used as collateral for
leans instead of being sold outright
Fortunes Made Abroad.
Fortunes are being made abroad
out of the wars necessities quite as
fl eely as is the case at home here.
These fortunes are not only being
acquired by English and French and
Russian subjects. but by those or
Holland, Scandinavia, Denmark and
Switzerland. as neutral countries arc
piling up wealth on "A large scale.
American securities have been fav-
orite investments abroad for several
generations. They will unquestion-
ably be among the first TO be re-
purchased when peace shall for
tunately arrive and the worlds fl
nancial affairs shall begin TO return
To normal conditions Meanwhile
We cannot have prosperity in our
own country without a fun partici-
patton Of our railroads in such
prosperity. Transportation is the
life of industry Products of in
dustrial plants are not. as broad
proposition. used in the immediate
localities: they must be shipped
where needed and must pay for the
service There appears 20 be quite
a reaction from the fears that first
were entertained as to the real effect
OF the new eight hour railroad law.
Railroad employees are beginning
TO. see that the new conditions are
not all in their favor. and that. for
example. "a literal Interpretation Of
the new act may mean cancelling
OF favored positions occupied by
many of the older men in the ser
vice This new law does not become
effective until January I. 1t is not
improbable that some attempt may
be made at the short session of con-
gress. which convenes in Decem Der,
10 give this subject the attention its
importance merits. There will not
at that time, at any rate, be an in
centive for hasty action based on
political eXpediency. a similar
crisis has just been satisfactorily
settled in the affairs OF the British
railways by granting To employees
an additional bonus To continue
throughout the period Of the war
instead Of permanently advancing
wages In this way the post-bellum
railroad situation can be handled on
its merits This plan might be y
reasonable compromise 10 adopt as
"a substitute for the eight hour law.
Coppers strengthened.
Copper stocks have been favor
ebly influenced by reports that an
nouncement is soon TO be made Of
large additional sales by American
producers TO Europe The strength
and activity in United States Steel
are suggestive Of the Importance OF
the interests who are buying these
securities. The third quarter OF the
year is now about closing and there
seems every reason to believe that
the quarterly statement. when final
~ published. will show an even
greater degree Of profitable activity
ON the part of the corporation than
was the case in the June quarter.
Gold conti"ues TO come forward
in large volume and is adding TO the
permanent ease of the general
money situation. Tn financial re-
Quirements of the crops now have
virtually been arranged and there
appears no reason 10 believe that
the money situation is 10. enter as
an adverse market factor.
The general market seems to
promise excellent returns for intell-
igent in and out trading. Large in
terests are undoubtedly operating
actively and will be inclined to take
profits at intervals as they accrue.