The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-03-14
Business. and Finances
BY w. S. Cousins, Editor American Benker

New York, March 8-The passing
&c The sixty-fifth congress was quite
J;fferent from any, of its predecessors.
ond quite in keeping with its record
o. useless and reproductive effort
during the last two months. There
was no feverish watching of the hands
" the clock in a desire to give the
r;oht Of way to important legislation;
hut on the contrary, the last precious
hours were given over entirely to the
obstructive tactics. =,
The Bond Bill was finally passed on
Sunday morning, but the deficiency
and appropriation bills aggregating
three billion dollars failed of passage.
Among these important measures are:
the army appropriation bill one billion
and quarter dollars; the navy appro-
oriation bill, eight hundred millions;
General deficiency bill, including the
1s;lroads' $4,000, 900 revolving fund;
Sunday service bill, including 5000,
100000 for the Shipping board. total,
over one billion dollars, and other
minor measures.
OF immediate consideration to the
financial interests of the country is
the failure of the bill providing $50,
100000 additional funds for the rail
road administration. There was no
disposition in the stock market to an
ticipate such result. and for time
il appeared that railroad stocks would
suffer by reason of the new element
of uncertainty injected into the trans
portation situation. There has been
in some quarters a renewal of the fear
that the railroads would be turned
back to their owners in short time
and without sufficient legislative and
financial preparation. This apprehen-
sion has not been widespread, how
ever, bankers almost without excep-
ton holding to the view that solu-
ton satisfactory to all concerned
will eventually be worked out.
1t is understood that Director Cen
eral Hines has received the assurance
of leaders in congress that the carriers
would not be turned back without ade-
quate protection, though there is no
definite hint as to how this will be
brought about The government now
owes the railroads nearly four hun
dred million dollars on arrears in rem
tails and it has been stated authorita-
lively that fresh funds will be needed
by the first of April. Failing to re-
ceive this rental money the railroads
have been compelled to borrow from
the banks, and it problematical just
how far this borrowing could be con-
tinued in the light of the heavy re-
quirements of the government else
where, and the necessity for the hus-
banding of resources in anticipation
OF the Victory Loan.
Stock Market.
Shrewd observers of stock marke,
conditions express the opinion tina,
the general public will not long re-
main Indifferent to a movement in
stock prices which carries market
values upward from one to two, and
in extreme cases, five or six points ir
single session. The average trader
has never tried to fathom the myster.
les Of short selling, and looks for. hi.
opportunities for profit chiefly in .
rising market.
In some sections of the market the
s,iSe has been all that could have beer
hoped for. Prime industrials advanced
% the highest point reached by then
this year, while railroad stocks hav,
enjoyed vigorous rise. 1t is Gus
,omary. at this time of the year, te
look for signs of the regular "sprine
lise, and to try to discover In VIVA
particular section of the market thi.
a It's is most likely to find expression
mere has been some disposition L
oelieve that the necessity for another
government campaign in April woult
tetard Developments along these lines
out thus far there has been little I,
suggest any adverse effect from tn,
proximity of the date of that grea
event The rapidity of the transition
ION war to peace basis, and tn,
s'auuai Improvement in general in