The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-03-07

", vork. Feb. 2S-The furry in
New a,sv market, which, in the early
the m ~ the week sent the rate on can
part o. - : and TX per cent, must not
loans 10 &C an indication that high
be lan'r rates are about to be estaD-
m InJ Il dose indicate, however, tnat
ilsn1 tbe time being heavy speculation
tor lne .tock market is to be frowned
in ln' hat the supply of speculative
upoh' i St;ll carefully rationed and any
tunos = hid for call loans will first
:! met by, rise in the loaning rate at
s ~ later, by return to power OF Ine
s sau money committee. Last Mon
PAM ,.'s furry is also explained by the
aay ,oorarv shortness of money at this
.e .n.ey due TO the shifting of funds to
e esn ;rter;or through the Federal Re
y. ..,ve system. Stock Exchange houses
sra not increasing their loan accounts
q ,rv considerable extent and COM
usrcial borrowing is reported to be on
a relatively small scale.
The nast week has developed some
os.,bs most genuine investment buy
mo Of high grade securities that has
hesn seen since the turn OF the year.
c. mich has been said of the high in
,r;rs;c value of many stocks which
reoresent the country's basic and
oroiitable industries and of the fact
hat these stocks are selling lower
than at any time in their history. that
MANY oeople with uninvested surplus
are making careful examination of the
bargain counters. This movement has
long been expected and predicted by
stock exchange houses and by many OF
them is now held to be somewhat
overdue. A little more progress. in
the settlement OF the outstanding
financial and business problems of the
Nation will, it is believed, usher in a
period Of unusually heavy public buy
Ig of the better grade OF securities.
v Treasury Department. Financing.
As the time approaches for the
launching of another big National eff
fort for the financing of the last lap
Of the war period, the necessity in
creases for a definite formulation and
public announcement of the plans by
which it is hoped to accomplish this
object Secretary Glass has made II
plain that in a very short time the
\ Treasury will be in great need OF
\iunds Present expenses are running
\ rate of billion and half dol
lars per month and there are Treas
ury certificates in the amount of four
billion dollars awaiting redemption in
the banking institutions. From yariou.
parts OF the country come reports thai
the plan of future financing by short
term notes instead of the long term
bonds, has found favor with the PEG
pie. It is to be hoped that this feel
ing will be reflected in liberal ane
enthusiastic subscription to the new
notes.
The Secretary Of the Treasury will
be allowed to use discretion with re
gard to the details of the War Loar
notes, which, however, are to be classi
ied or grouped somewhat as follows
Inc first class will be exempted from
all taxation except state or inheritanc,
taxes; the second class are to be cx
empted from these imports as we'll a
nom income surtaxes, excess profit
ana war taxes; the third class will b
Nh,liar IN many respects to the sec
ohd' except that the interest on $4,000
Is not to be subject to state and in
come taxes; the fourth class will b
exempt, except from state or inheri
lance taxes and all income, exces
ploiits and war profits taxes. In al
ue exemptions extend to both prin
npal and interest, and to present o
Z m issues, and it is now intimate
.nat the authorities at Washington in
oi 10 add ar exemption of $4,000
iran; l., any OF the outstanding issues fror
ny thls arrangement il should b
p possible TO appeal to every class in tn
community, from the high salarie
aecutive to the wage Garner whose If
'One ialls below the minimum re