The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-07-11
Business and Finances


next ten or fifteen years may be ex-
pected to be downward, the down
ward movement is not likely to pur-
sue steady and unbroken course.
1t will probably be broken r. frequent
ups and downs in the ~rocess of find
ing new normal level because the
general process of economic readjust-
ment is likely in each important stage
of its development to result in some
EMBELLISHMENTS, which would newt
ably produce price disturbances. The
future price trend, in other words, is
likely to have much of fluctuating
character and, therefore, to give to
the period of readjustment something
more of speculative character than
is usual in normal circumstances.
Corporation Financing.
Revival of interest and activity in
domestic corporations is indicated by
the extent to which they have been
drawing for funds from the invest
ment market since the first of the
year. The accurate records of the
Journal of Commerce show that since
January first new corporation financ-
ing has reached the large total of over
one billion dollars, an increase of II
per cent over last years records.
Corporate borrowing is now more
extensive in volume than for years,
and bankers look for a continued
heavy output of new capital issues
now that the peace treaty has been &C
tually signed Complete returns now
available indicate that financing by
American railroad and industrial cor
porations during June involved 1922
058,000. This is the best monthly
showing in years and compares with
$3.50, 786, 800 in June year ago. The
May total was $10o,877, 900.
Closely associated with the large
increase in the figures are the revi-
val of industrial activity and the
high, favorable prospects for a con-
tinuation of it for considerable pc
Rod, as we'll as the brisk demand for
high grade securities.
Aiding Return to Normal.
i Many prominent economic students
have expressed the opinion that In
many lines of activity we have already
discounted the transition from war te
peace. One after another the restric
tions are being removed from the va
rious operations and activities which
GO to make up the national and inter
national commercial processes. Thus
are we gradually returning from ABB
normal to normal conditions, wher
tendencies and happenings can b
!, Judged by themselves and not in rela
ton to the arbitrary ruling OF com
: mission or council or a government
agency. The full return to pre-wa
) conditions, giving proper junction t.
Ia. nvxI nrrtfI In ~ n
that period, will be fastened it gov
eminent officials would see the ligh
} little more clearly and prompt!
Their tendency is to exaggerate thei
own importance.
= The latest order along these line
I is that removing restrictions on net
I trail and allied foreign exchange, an
: abolishing the elaborate system OF re
ports covering daily transactions /
1 exchange. The lifting of this embarg
e was freely predicted when that o
: gold export was removed few week
u ago.
The new regulations do not alter 4
! any material sense the restriction
heretofore existing in foreign e.
change transactions. on Russia, tn
: enemy countries and the liberated nj
> tions of central Europe. The expeI
: tation or importation Of rubles' (
u the transfer of funds for their pu
! chase abroad, is still prohibited,
= we'll as dealings in: foreign esechane
. or securities with the portion OF Ru
y STA now in the hands of the sow
= government. Remittances to &c
D. many, German Austria, Roumania ar
other adjoining nations, which ha'
:, been newly created by the peat
- treaty, are forbidden except as the
= are made through the relief associ
n ton.