South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-09-16

percent rate is desired by New
York bankers.
AS the profits Of the copper COM
panies have shown increases proper
tionately with those of the steel and
munition companies, most of them
will be hit hard by the proposed
excess profits tax. Since Inspiration
was not a producer of copper in the
pre-war period-1911, 1912, 1913
il will be subject TO the full tax,
which will take close TO 90 percent
Of it's profits. Therefore it would
not be surprising if Inspirations net
profits this year would be under divi-
dend payments at the current rate
of IS a share.
It was pointed out today that un-
less the money market becomes cas-
Ter an Improvement in the stock
market cannot be expected. The
firmness of rates has made il diff
cult for brokerage houses to make
the necessary arrangements with the
banks and consequently they have
been inclined TO disseminate bearish
news in the hope that their Gus
toners would liquidate their secur-
ity holdings.
Sir Thomas White, minister OF
finance of Canada, announces it is
the intention of the Canadian gov
eminent to advance TO the imperial
treasury $25,OOO,OOO a month as
long as the war lasts. in order to
supply sufficient imperial credits in
Canada TO keep the munitions bust
ness in operation and TO cover other
war purchases, such as cheeAf.
From Jan, 1917, to September. in
elusive, about 1921, 0O0,0 has been
supplied by Canada for British pur-
chases in the dominion. Canadian
exports of cheese. for army use
chiefly, have exceeded $40, 5000 in
value, this amount being provided
by the federal treasury.
1t is said new interests are about
to become identified with the Gill
lette Safety Razor Co. The concern
has been reincorporated and will
have an outstanding capitalization
convertible notes and 10000 shares
of capital stock without par value,
on which il is intended TO inaugurate
dividends at the rate of 81 per
share per annum. The $6,000,000
note issue has been bought by a syn
dicate headed by Brown Bros. & Co.
of New York.
The Prairie Oil and Gas Co. has
declared a quarterly dividend of SO
a share and an extra dividend Of 81.
Three months ago the company
omitted the 50 extra dividend which.
for several quarters previously had
been declared in addition TO the
regular quarterly distribution of So.
A director of the St Paul is
quoted as saying that Mr. Bryan
takes the presidency of the road
with a free hand for housekeeping
in any or all departments and that il
was opportunity rather than salary
that attracted Mr.. Bryan.
Unified orders Of the American
Wooden CO. on Sept ! were around
/ $50. 900, 900. 1t is asserted the COM
pany is sold ahead 70 capacity be-
I yond Jan. ]. Government orders
are in excess of S40,00O,0OO.
(
A much more cheerful tone pre-
/ vailed in the market and comment
/ in one source was: Wall st. is al
most completely emerged from the
blue atmosphere which prevailed
+ two days ago. Then there was moth
. ing in the way Of bear effort 70 de-
I press prices Yesterday, instead OF
B the gloom which had prevailed ever
4 since The so percent tax measure
was introduced in the senate, there
3 vas optimism among market inter
F ests. Bear selling is regarded as
having been overdone-"