Daily capital journal. (Salem, Oregon) 1903-1919, 1917-10-11
America VIII Emerge From
War IN Splendid Condition

New York, October 6. 191.=Liquida
ton, representing to some extent pre-
parations for subscriptions to the new
Liberty bond offering, has this week in
fluenced still further depression in the
general price level of securities. An ad-
ded influence appears in the form of
The final steps in the enactment Of the
lew War Revenue bill, through which
there has developed a more general and
popular appreciation of the financial
burdens that must be borne in order
to assure a prompt and victorious sse-
Element of the war. With the large taxes
provided in the new law upon excess
profits and upon war profits, and with
the curtailment of the profits which
necessarily must accompany the govern
ment's plan for price fixing, it is de-
sirable to recognize frankly that the
era of remarkable revenues our great
industrial plants enjoyed before we be-
came q participant in the war is not
likely to indefinitely continue. Never
the less our manufacturers are assured
of a steady business, sufficient to keep
their plants running under full pressure
and at prices that still are profitable.
About Fixed Prices.
The establishment of fixed prices con-
taias of course the possibility of benc-
fits as well as disappointments. 1t MEANS
that domestic orders-those of a non
war character-now may be executed.
Construction in various directions may
proceed en- a reasonably safe basis. That
nrisos NH nrndontlv declined r. nm.
800 - ravtonsan whan ~ wos
h 4bat ahnnaor hos;o
as"+"niaia' no1,1S aaon ho auoiiphIo now
mi IN f 49, $1,000 ,Sithoi,+ 4Iis
aDo4o5 80 ooni4o1 p,t ur;+b
teha oIa" . h;ob saoles pc woaos in in.
Sne III aiSains ga sr;+b az a5ni+tad
uosnnr;+u ~ fha oor;auI+rral s]oct;ons
ptosPea 80 hal;aTo +ha}
!. az ;mmodfato
a,batant;oI roao+ion in 10.
80 ~ 49, of 40
eSohIaa tho oil
Pir - fio ~ Iansnst 80
49,, - nanu ne tbe [ort;e1es nnoo
sui az mon+ bos os+obtisbed
Mnien eno 49, M ua1"aHo~ - ~
asu eas instanoo ;nuoivo
pr y, n'ur 49, 10 ~ won't.
ansts of 40 transnortation lines
IS Wv
Coal, Iron and Steel.
So, too, the reduction in quotations
for copper, and especially for iron n
steel products, of which the railroads
are, as is well known, by far the lar
gest domestic purchasers III Is estlnlat,
ed, for example, that in the year 1918
the purchases of iron and steel fol ac-
count Of our own government and 1or
that Of our allies will not much exceed
100000 tons. This will leave about 20
100000 tons for home consumption, con
tracts involving which may be placeo
on the same Terms as are available TO
the government. This situation appiies
in measurable degree also to copper
Hence the reduction in prices OF matgr7
ials can well provide greater confldence
on the part OF important interests iaeh-
titled with the development or nome en-
terprises. Witnla the last rev weeSs es-
peclslly there has been a no~tlceapl9 re
duction in the creation OF new eitef7
pr1ses. In September the total llcorPo-
ations IN the eastern states covering
concerns VITA an lndlvldual c~aolVa"zF
ton Of $~lyOOO,Coo or more aggreg1tau
only S2O2,oo0 ooo' Whlch compares VIZ
$9S2, lCG,00o IN August ana $4,000" nv
III guy. |