The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1918-12-09
Dec. 5, 1918.

armistice may be expected to early
reflect itself in improved traffic con-
ditions throughout the northwest
Theer is some Improvement in the car
supply. and grain which has been held
back on the farms. because OF poor
shipping facilities, and because OF DAD
roads. is moving moro freely to the
markets. Shippers are beginning to
give evidence that there will be
strong demand shortly for return
10 normal traffic conditions, and that
there will be heavy pressure brought
TO hear fro mall quarters for restor-
alton of the prompt and efficient SER
vice that formerly existed in both
freight and express transportation.
While this may not come rapidly,
there are indications that there VIII
be a steady Improvement proportion
ate to the lessened burden upon the
transportation system because OF the
movement of government material
and supplies. Out of many conditions
that will result from the progress to-
ward a declaration Of peace. this, at
least, will be welcomed byb all who
are obliged to rely on transportation
service. -
Some slight labor reimbursement has
already occurred, and there Is an I'M
proyement in the labor supply as COM
pared with 80 days ago. AS the bust
ness of the Northwest has not been
so largely that Of war production as
in some other sections Of the country,
there is every probability that pro-
iects that have been held back, con-
struction that has been deferred. ac-
tiyities that have been suspended be-
cause of the shortage Of men, Will
afford opportunities for enjoyment that
will rapidly take up The slack. The
principal products Of this territory
will continue to be in strong demand
throughout all Of 1919, and there is
no evidence in either business or bank
ing circles OF any apprehension as to
conditions during the coming year.
The question is frequently raised as
to whether the district is in posi-
tion to offer satisfactory employment
to the many men who have been cali.
i ed overseas or into the camps, but 1t
should be borne in min dthat the ousl-
ness of this territory is increasing
very rapidly, and that production
Sh0th on the farms and in the factories,
has for a number Of years past shown
: a heavy annual increase. The close
of the war will undoubtedly bring a
neriod of active development ii the
resources of these states and In a
district which is fortunate in not hav'
ing suffered a severe dislocatlon OF us
ordinary activities because OF the war,
and where there has been substantial
PROSPERITY, there is every probability
that there will be satisfactory oppor
tunities. not only for all Of those who
are shortly to return, but for labor
forces that have had steady employ
ment since the beginning Of the way
Probably nothing more than temper
ary period Of readjustment is to be
looked for.
The coming of peace presents sever
al, new problems of practical import
ance, one Of the most important OF
which is adequate protection for the
many thousands Of people who are not
investors in Ahe accepted sense. bu'
who have subscribed literally to the
successive war loans. While eXercls
ing control over issues of securities
for capital purposes in order that cur
rent financing during the war might
not he Incompatible with the govern
ment's interest and purposes. the
CAPITAL Issues committee in Washing
Ton. and its various branch commit
tees. have likewise exercised effective
control over a miscellaneous assert
ment of security issues. which ma!
he classel in their order as specula
tive. unsoand. doubtful, fraudulen
and grossly fraudulent. These run al
the way from enterprises promoted BY
men with a sincere purpose but O
limited business. financial or technlca
ability. to enterprises the main bust
ness of which is to sell stock for thf
benefit Of the promoters. In addition
to enterprises selling stock, bonds o.
securities of the usual i,nd customar!
forms there have also appeared mum
erous enterprises offering participant
ing certificates, memberships, and otn
or devices. by means of which the!
evade both state and national jurisdic
+;on while at the same time accom-
plishing the purpose OF taxing SUI
stantial sums of money from invest
ors.
within the Ninth district, it is ALTO
gether probable tnat WilHiu lho ieA'
two years Investors have been per
suaded to part with not less than s2S
900 600 in exchange for various kind
of securities, from which there is lit
tie hone of return in the form OF prof
it's or dividends. and in many case
NOT even a substantial prospect OF sal
wage through liquidation.
The business Of selling stock 1
highly specialized. Promoters. wn'
ara clever. suctomarily avail them
selves of competent legal advice. ant
nroceed with the utmost thoroughness
method and system in the promotion
~ the issues in which they are inter
ested Schools for statesmen are
common incident to these campalgns
and ia these schools. statesmen ar
tr.ined in the effective methods
MAKING their arguments plausible t
tho investor. When they take IL
field. they, are in charge OF an eSper
manaeer. They operate Frequently Il
grouns. dividing given terrltor
smons them, and RAPIDLY apd system
.fica1Iv clean mp al the "prospects
~ifhin that section. The compenss
hon s. these men Is usually IN IN
sorm Of commissions rangins some
times as high as % per cent, ant