The Arizona copper camp., 1919-08-23

| in Alaska, Philippines, China and in
! most of the army posts of the country.
! 1t. Roche expressed great regret on
leaving Ray.
turned to their private owners by
January ], 1920, with protective legis-
lation, according to Senator Cummins,
of Iowa, chairman of the Interstate
Commerce Committee of the Senate.
For two weeks the committee has
been working on the proposed legis-
lation for the return of the roads.
Several large insurance companies
received notice from Washington to
be prepared to resume fire risks of
railroads. When Government took
over roads all policies were permitted
to expire, and notice is interpreted
az intention to restore the properties
to owners in near future.
Wendell Endicott, of Endicott- John
son Corporation, largest manufacture
NAh VI Ill tAC WOIIuy Sdlu SCI-
yiceable dress shoes of high grade
may be bought for, Sc to So pair and
working shoes of heavy leather from
$4 to Sc. He said he did not doubt
shoes sold last season at SIC to $1S
a pair would sell this fall at 500 to $25,
but he contended such prices were
optional with buyer and were made
possible or necessary by unusual pres
tige, Or retailers name or eXcessice
Ioverchead charges. He predicts good
shoes wilISremain we'll within means
iof average consumer.
Many corporation bonds are still
selling abnOrmally low, not because
of any special weakness in the finan-
cial status of the companies issuing
them, but because of economic con-
ditions arising from the war When
commodity prices are high and the
purchasing power of the dollar is low,
securities with fixed rate of inter-
est generally recede. When these con-
uiIiOlIo lipIOV0, l1IIlly JULIUS HOW SELL
ing near bottom prices should ad-
vance and investors benefit from the
appreciation in the market price of
securities. Bankers say many shrewd
investors who have made large pro-
fits recently in stock speculations are
putting their money into low priced
hOn6C that whom tho hull o1,ly AZ
reaches its peak, they will be in
position to profit by any advance in
bond prices.
Elbert H. Gary, chairman of the
United States Steel Corporation, in
terviewed after the meeting of the
directors, said that business, both
general and as applied to the corpora
ton, was good and foreign business
fairly so Judge Gary was asked his
opinion on the suggestion made in
some quarters that the European fl
nancial situation was critical. He re-
piled: If bankers say so, | would
subordinate my opinion to theirs.
"a serious business, possibly, but l
would not characterize it as critical
or dangerous to the progress of busi-
ness. 1t seems to me that the difficulty
ought to be met and overcome"
Bank clearings in the United States
for the week ending July 81 aggre-
gated $7,355, ,274,O0O against $8,4S9,886
600 the preceding week and $5,879,591
600 in this week last year. Canadian
clearings aggregated $231,495, 900, as
against 100000 the preceding
week and $1878 $4,000 in this week
last year.
Business failures in the United
States last week were 85, against 12O
the preceding week, 1876 a year ago.
100 in 1917, 273 in 1916 and 274 in
1915. Canadian failures were S, against
5 the preceding week, 9 a year ago,
IS in 1917, % in 1916 and 80 in 1915.
In the United States about S3.5 per
cent of the total number of concerns
failing had $4,000 capital or less and
II per cent had from $4,000 20 500,
900 capital.
While the wire edge of demand for
some few staples notably cotton goods
and raw wool seems a trifle blunted
and the buying of interior jobbers
and wholesalers at Eastern centers
seems less eager the consensus of re-
ports is that trade as a whole is still
very active for midsummer period.
Industry, particularly the big basic
lines such as iron, steel, lumber and
coal, seems stronger with prices
Continued on Page Four)