Mohave County miner and our mineral wealth., 1921-05-13
MONTHLY REVIEW OF BUSINESS CONDITIONS

able part of the deficit which the gov ernment has had to make up in it's guarantee.
 Money rates were slightly easier with the call rate around 6 per cent and the Federal Reserve statement showing an improvement from week to week.
 RAILROAD STOCKS-The formal
 opening on April 18th of the Selling
 Syndicate Books of the $230,O0O,00O
 Northern Pacific c-Great Northern
 Joint 15-year 1-2 per cent Conver-
 tible Gold Bonds e. B. & Q. Collater-
 al) met with such favorable recep-
 tion in the Eastern Market that over
 subscription was confidently predict 1 ed. ...
 While this bond issue is the largest
 to be brought out since the U. S. Vic-
 tory Loan, it was put over without diff
 ficulty, and has now become historic
 event of great importance in the. fi- nancial railroad world, as the North ern Pacific-Grea Northern and c. B. & 0. Railroads have a combined mile-
 age of 25,0OO miles, serving 15 states ] with a population of 26,0o0,OOO. The action of banking institutions . land the investing public in eagerly !, subscribing for this bond issue, should 5 materially assist in re-establishing , I the credit of the railroads of this : country, and thus aid in revival of l business.
 r ,. President Harding and his Cabinet
 are making an earnest effort to reach , some solution of our transportation
 problem, and we are confident that the result will be decided Improvement : in the present situation, as the repre- sentatives of the employees now man. t ifest a willingness to accept wage re- l, ductions, provided the railroads intro : duce other economies tht they claim : are possible, and if. all parties inter- sl ested approach the matter in a spirit t of fairness, something will be accom- : plished. Il The reduction of the Pennsylvania : Railroad dividend to the lowest rate Il since 1878, means the conserving ot > cash resources pending the period o1 t general uncertainty, and clearly dem. | onstrates. the failure, so far as the Pennsylvania system is concerned, oi l the new railway rates of 1920 to meet in period of depression the increased i1 wage costs imposed by the Labor Board. = .>'' s&.l &.s Il GRAIN TRADE REVIEW-Lowest : prices of the season and for some years were made for Wheat the past , month. So far all theories as to why l, Wheat should be bought have been }, wrong as the worlds financial and
 economic conditions have been against } an advance.
 The Labor situation in Europe has /, been acute, and while the triple al liance" strike in England was declar- , ed off, economic unrest continues and cannot be removed for some time. Financial conditions govern, to a great extent, the amount Of Wheat used, and as yet there has been no , solution of the European debt .ques-
 tion. r..ss& < About 5O,OOO,OOO bushels of Wheat have been imported into the United
 States from Canada, but the passage
 of the Emergency Tariff Bill will put
 an end to that business, and there
 will probably be keener competition
 hereafter between Mills and Exporters
 for choice domestic grain of the 1920
 crop. .. l..-.... =.
 The demand for Flour is not keen
 and it not likely to be as long as bus
 mess conditions remain as they are.