The twice-a-week Twin Falls times. (Twin Falls, Idaho) 1916-1918, 1917-05-22
ACCORDING TO DUN's REVIEW.

Movements in both domestic and for |
eign business become more irregular
as further economic changes are eff
fected and pressure of liquidation in
securities has continued, though with
comparatively little accompanying un-
settlement. The tendency to proceed |
cautiously in entering upon new en-
gagements is now more generally ap-
parent, and some interests defer con-
templated projects pending the remov-
al of existing uncertainties. Agricul-
tural prospects unfortunately leave
considerable to be desired, and ac-
cumulations of merchandise result
from the restricting influence on re-
tail and jobbing distribution of the
backward weather and extreme
prices Yet special causes are not
needed to account for some abatement
OF activity after months of unpre-
cedented buying, and regular trans
actions, while less extensive than re-
Gently, are still noteworthy volume.
Large government expenditures for
military equipment impart renewed
stimulus to some branches OF bust
ness in about all sections and manu-
featuring facilities, with few excep-
lions, are taxed to the utmost, with
demand for lumber and other products
exceeding the available supply. Main
tenance of industrial outputs is rend-
cred more difficult by the scarcity
of raw materials and skilled labor,
and ordinary requirements in a num-
Der of instances cannot now be con-
sidered, while the continued delays in
transportation add to the uncertainty
regarding deliveries. Costs of prCduc-
ton in textiles are further enhanced
by additional wage increases and these
changes tend to accentuate the
strength of the commodity markets,
though they also augment the pur-
chasing power of many consumers.
! Special financial operations, in con-
| junction with high prices, influence
bank clearings and the total at lead
ing outside centers this week is 35.6
per cent greater than last year, when
the figures were unequalled up to that
period.
AS months pass with advances far
outnumbering recessions, the price
situation steadily becomes more eX-
traOrdinary Reports are not now I'M
common of lessened buying of some
commodities because of the extreme
limits to which costs have been car
ried yet the general position of the
wholesale markets on May /, as meas
ured by Dun's Index Number, regis
tered a further net rise of nearly 10
per cent. and was over 70 per cent.
higher than at the beginning of the
war BY far the widest change dur
ing April occurred in breadstuffs, ow-
ing to the continued spectacular up
turn in the cereals while most other
food articles were also more expen-
sive and the clothing class attained
another new record. Many raw ma
terials used in manufacturing, as well
as the finished products, were lifted
to unprecedented levels, and of this
weeks list of over 300 quotations only
10 show decline and 70 advances, and
on but one occasion this year have the
latter been in the minority.
No repetition of last weeks ~ pei
cent. rate on call money has beer
witnessed, whereas the tightening pro
cess in time funds has continued
, with per cent, now asked on some
maturities. Sustained firmness in thi:
, class of accommodation is foreshadOw
ed by the financing incidental to thu
S2000,0O0,0OO bond issue, and tn,
) steady decline in the local bank sur
plus has carried the total down to thu
lowest point since last December. Ye
the absence of bullish speculation il
/. /
the inflow of gold from Canada ha
been resumed after a suspension o
[ shipments lasting a considerable per
g iOd. Notwithstanding this, sterling
4 exchange has yielded slightly, Will
e both francs and lire lack strength, il
% spite of the recent loans of 100000,
e, 600 each to the French and Italian
o governments, and Russian rouble
+ have fallen to another new low leve
at under PC. for checks
y Revision of opinion regarding winte
r wheat prospects has been necessitate
u by the official figures on abandon
= ment of acreage. This exceeded
It per cent of the planted area, tn
IS greatest reduction ever known, an
It though the crop condition is nearl
10 points higher than a month age
o the promised yield 366 900 900 bush
IS els, is 64,O00,000 bushels less, and tn
i smallest since 1904. Yet the final re
n suit may cOnceivably be better than i
now indicated and there is the pos
IS sibility that spring wheat may max
n up some of the deficiency in the win
n ter grain, while other cereals are like
e ly to prove abundant Still. the SUI
lie nrisingly poor government retur
1t lifted prices to levels not previousl
1t witnessed. with the May delivery i
IN Chicago at 1925 and July S2.55. TIL
IS range of fluctuations has widened fun
Their, and the extreme advance froI
ID last weeks low basis has been full
is zoe. in the May option.
Starting Friday. Nav 25. the Aut