The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-10-24
Business and Finances

NEW YOkk, Oct. lS-The past
week has been signalized by further
additions to the ranks of dissatisfied
laborers in the eastern industrial cen
ters, and by strikes innumerable for
various causes. Thus far there has
been little disposition on the part OF
either the industrial leaders or the i'm
portant financial interests to become
alarmed over the situation, even
though great deal of loss and incon-
venience is daily resulting from the
idleness of the workmen.
Wall Street has completely elimi-
mated the steel strike as factor i'm the
general financial situation, since, while
emphasizing their readiness to arbi-
trate, the strike leaders have long
since lost their control over the steel
workers, sufficient of whom have now
returned to work to insure the opera
ton of most of the big plants. 1t is
admitted by the conservative leaders
of labor, such as Mr.. Gompers, that
the radical activities of its Boishvik
element have greatly injured its pres
tige with that great body of people
usually referred to as the general
public" who are in no mood to toler-
ate the repetition of some of the meas
ures that have heretofore been taken
to blackjack the country into sub
mission.
The Boston police strike was per-
haps the most egregious blunder ever
committed in the name of labor, and
its most nonsensical was the attempt
to seize control of the steel industry
and the railroads. 1t was the exhibit
ion of these tendencies in organized
labor that called forth the wrath of
that "other SO per cent" of loyal
Americans, reminding them that they
too, have rights as well as the or
gained minority.
Speculative Situation.
Almost every grade and classified
ton OF investment security has been
I gaining consistently and persistently
/! for the last two or three months, and
! there seems to be no diminution in the
public appetifeffor speculative stocks.
The high grade industrials have been
absorbed as rapidly as they could be
supplied, and the excess Of the demand
over the supply in recent weeks has
accounted flor ;.the swiftly mounting
quotations.
Theacaluulations of many traders
were, however, somewhat upset by the
unfavorable developments of the lat
/ ter part of the week, especially in the
discouraging aspect of affairs at
Washington. Advices from the ma
tional capital showed that the authori-
ties there are far from feeling en-
couraged over the general outlook
while the apparent inability of the in
dustrial conference to make any prog
ress in, the solution of their problems
confirmed the disouraging tendency. ,
. The bears have naturally made the
most OF every unfavorable develop
ment, combining their attacks chiefly
States steel and Bethlehem steel
yielded to these attacks, but with COM
paratively little loss considering the
magnitude of the dealings in the stock
of the big corporations.
The Investing public is now employ
ing waiting tactics, and has been es-
pecially concerned with the condition
of the president In doing this it has
upset the calculations of the profess
SIGNALS, and thereby made things easy
for the bears. The market has been
bearing reports of various kinds about
the president almost from the first
day of his Illness. and there has been
nothing more certain than tina. the
news has been fully discounted by the
professionals The fact that the market
has been moving forward in the face
of these reports is indicative of help
full aspect Of the news.
Railroad shares as group have
been rejecting the uncertainty. sur
rounding the freight rate question. II
seemedsfor time that the market was
disappointed when the meeting of the
association of railway executives adj
journcd Monday without more def
mite aexpression of sentiment than was
handed out. In addition, there have
been r,nnors in some quarters that
legislation for the return sof the roads
to private control may not be going
as smoothly as hoped for and these
have served to brighten timid holders
of some of the rails. That such talk is
entirely premature is generally UNDER
stood in railroad circles, where the
belief seems to be that temporary leg
islation will be framed and enatced
which will make the return of the
roads to their owners safe and sane
St~Y @Oxs january -
The violent fluctuation of call
money which has again been, In evil
dence, reaching Is per cent, pointed
to the scarcity of speculative loan
funds for use in supporting" the mar
ket. This was associated with the de-
Ginning reserve percentage Of the fed
eral reserve system and the relative
loss of gold BY the banks nothwith-
standing the transfer Of some German
holdings to the system. Last weeks
statement showed that there has been
no letting up in the disposition u
member banks to help themselves
through the rediscounting process, and
this week there was renewal OF de-
mand for an advance in the rediscoun,
rates in order thereby to exert more
powerful restraining influence upon
purely speculative operations.
There are strong considerations oil
fx.,hls~ finance arrnrisn4 ~ xaH Ia.