South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-05-18


amount subscribed for and its dis
tribution viii not be available until
near the end OF the month. Accord
ing 90 unofficial statistics about So
oO0.oOO.OO were subscribed for by
$4,000. 600 persons. or at the rate Of
$500 per subscriber. These Stats
tics indicate that the loan was en-
Enthusiastically received by the people,
and 10 is TO be hoped that the Off
cial statistics viii confirm this large
public participation. The banks are
already holding too much war pa
per and should not. If money is OBJ
tainable elsewhere. tie up more OF
their funds in such fixed invest
ments The need OF accommodation
by business men VIII undoubtedly
increase as we 90 through the re-
construction period, and the funds
~ the banks should therefore be
kept as liquid as possible
FIOtation of Issues Started.
F1otauoue Of corporation issues
lAANIl ItN ...'N. .II.t .'..-A" N tNAAArr
the finish OF the Victory loan cam
paigu have already started on
rather wide scale; the next few
months viii see a constant flow Of
new corporation offerings. for mu-
nicipaltiee and private enterprises
need money soreIy. During the war
in Difference 10 the government
needs and owing 90 many restric-
tions ON new Gotations they could
not raise the funds needed but
things are different now. and all
borrowers are free 90 raise money
on the best terms they can. The new
offerings win contain number OF
attractive bond and stock ISSUES
among which the discriminating i'm
weston viii ind many bargains. How
ever discrimination is very neces-
sary as m period OF enthusiasm
such ass ue shall very probably
have. -cat- and do-s" VIII be plen-
uful
steel situation
The steel market IS now open iu
name ass wen as in fact The con-
ference between the railroad admin
istratiou and the manufacturers I'm
which efforts were made TO have
Mr. t4ir.s .r.,rt ,b. ,.ri..g .,.o,.l
- 49,, +t, ..ar,.r,.t.,-.r. .,r,,
tho ir5n.+-4.f to...4 .4ol
daad1o.l, A. nee. d...-..t..,..,
20 force an open market in steel has
announced that the U. $. r. a. was
ready Co open competitive bids for
100000 toms OF steel rails The T.
stool co,,.oratior g. tb. i,,-o.t
cost producer and eirra HTr Uinee
is i,,stly e,5es,ori,,. -, sec,,re ma
teriaIs where tbey are rheanoet tho
corporati,r win ,er, Iil,sI,. sacrre
the buIk of tho order
Stiu the amount cr This or1or ia
insignificant compared with the TO-
tai capacit,- IN Droduca Stool ,,1s
which lis fully 100000 GROSS TONS
monthly The fact Is that the inn
portance Of the railroad af-1fnistra-
ton 10 stimulate activity i'm tho steel
trade has been much overdone Pro
duction i'm the industry has been
falling Of and unless some stimuIa-
lions is soon supplied the rate OF
production will decline further II
is estimated at between SIS and 60
percent AT the present time. PIG
iron production is also dcclining.
Germans VIII Sign.
General business should he bene-
fitted hy the completion of the peace
treaty While the terms are severe
the Germans will have to- accept.
The acceptance of the treaty will
mark the beginning of "a rqpid move
ment 90 eliminate the last of the
wartime restrictions ON foreign
trade and viii also aid Co stimulate
business. Congress is TO meet on
Nav 10 and viii get down to clean
up many difficulties i'm the industrial
situation. The railroad and ship
ping problems will unquestionably
receive early attention. Industry is
apparently now free from any gov
eminent price fixing. Atty. Gen
Palmer has declared that any price
fixing is I'm violation OF the anti
trust law. The industrial board has
handed in its resignation and have
now passed into history.
The Automobile Industry.