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Business and Finances
By Vf. S. Cousins. Editor American Benker. New York, May 10.—In any pro tracted bull movement in the stock market, it invariably happens that a .mall number of the so-called market leaders are the first to be affected by forward rush of bullish sentiment; and these leaders may as a rule be se lected from a group or classification which enjoys the largest measure of oublie favor for the time being. As the bull movement advances, however, every division of the market receives the consideration which it justly deserves by reason of either special or general developments in the various industries of the country. For the past three months the for ward movement in the stock market has been confined almost exclusively to the .indtntrM»li!«nd oil groups, based upon the act«» and potential im provement In the outlook of the giant industrial enterprises of the country, and to the wonderful development of the new and proven oil fields of the south and middle ' west. Coincident with the accélération of the trading in these groups of stocks and the making of ne<v high records almost weekly in different sections of the stock list, there has been a general improvement in business and in the outlook for the future. Durtaff the part two weeks the rail road stock* have come into their own, more particularly those of the stand ard rails which have not heretofore shared in the feverish upbidding of certain of the low priced shares based upon the possible development of oil production oji their properties. Trad ing in this department is characteriz ed bv a healthier and more substantial tone than lus been evident since the turn of the W*r. Some of the mort important' inactive railroad stockt which have not been traded in ex tensivelr, have come'to» the front, and there is evidence that many of these issues are sensitive to the new buying demand. The general advance by these shares is attributed to reports of an earlier session of Congress than has heretofore been expected. Some of our economic experts are now predicting a downward trend in commodity prices and coincidentally a like trend in the prices of industrial stocks. Due to "stabilization" of prices during the war it was not pos sible in many commodities for the law of supply and demand to function properly, and for many lines of busi ness the policies put into practice by the government cofnpletely upset all calculations. Soon after the signing of the armistice there was a tendency to decline in commodity prices, and while there still exists some hesi tancy in buying, there has been an ad vance in some lines over the highest price during the war. The official in dex shows that the prices of food rose 2 per cent in March and are now 14 points above last year on an average of 22 articles. Sooner or later the world, including the United States, will have to pay for the destruction of wealth and re sources and such payment will entail a period ®f liquidation and depression. But such a period of liquidation, which will include labor, is far off. At present there is an increasing foreign demand for our products, and our ex ports are exceedingly in value even the high level o£ the war demand With the existente of this demand and with no prospect for a decrease in the price of labor, it is hardly pos sible to expect a downward trend in commodity prices. Financial Features Evidences have multiplied during the progress of the Victory Loan cam paign that American money is in lib eral supply for high grade-investment. and the -total of subscriptions. to the Victory notes during the first 18 days of the campaign has not represented the eonntry's abilitv to a!bsort> the four and a half billion dollar issue. Secretary Glass' telegram to the news papers expressing apprehension con cerning the Victory Loan must there fore be interpreted in terms of the fear of apathy on the part of the Hb M to most WOMEN B usiness M eanï; WORRY YI e H elp Y ou evert woman should have at least the training in business that the handling of a bank account givis. you don't know when wou'll need it, nor how muoh. we are olad to help you learn the wor king ©f a bank account here; to teach you all you need to know about it. accounts are invited. pier than you think. it is sim •w vv. <7 or 3a kk à Ar Yoi /t. Comiaho T îrst N atioîsal B ânk fi L Vi. Dw F. L L , IDAHO. ) small quantity subscriber, rather than in the reluctance of the banks and large financial interests to do their full share. •Americans know a good investment when they see it, and never before has an opportunity been presented to se cure an investment bond of 4 H per cent, backed ^by the wealth of America and good faith of the government of this nation. It is, furthermore, an opportunity that will not be repeated, and as an evidence of the appreciation of that fact it is only necessary to re fer to the steady advance in the out standing Liberty bond issues. With the exception of the first 3'/$s, which are in direct competition with the 3% tax-exempt_ bonds, a gain of more than a point was registered during the past week by all of the Liberty issues. A feature of the investment market during the coming months will be the presence of representatives of for eign enterprises for the purpose of floating industrial bond issues in this country. Recently the agents of a ver v large Italian manufacturing con cern have made proposals for a $5, 000,000 credit, to run for three years at 6 per cent, and have stated their willingness to deposit Italian govern ment bonds as collateral. This cred it, when it is arranged, will be used mainly for the purchase of steel pro ducts. Representatives of the Ru manian government have submitted proposition for the eovernment to issue its bondg in dollar denomina tions at 6 per cent interest, for ma turities from three to twentv years, the bonds to be deposited with Amer ican banks and to be oaid, interest and principal, in American njonev. Greece has already suge^sted to American banks the possibility of floating an issue of $5.000,000 of Greek nationals. The Greek govern ment is anxious to have some Amer ican banks underwrite the offering which will be in bonds of the internal Greek issues. A delegation of Poles is now en route to the United States for purposes of opening up financial and commercial relations with this country, and some private interests in Belgium, quite distinct from the grpup which a month or so ago nego tiated the $50,000,000 acceptance cred it, are said to be making inquiries in the financial district. These issues, if floated, will add to the investment opportunties for American capital Ease in the monev market was an important factor during the last week of the campaign, rates for all matur ities having been marked down to the lowest levels. Call money at 3V£ per cent is indicative of a good sized loanable surplus on the part of.the commercial banks, and is a logical fore-runner of a favorable stand in the time market. Cheap money is al ways conducive to a heavy specula tive position, and should this continue, it will be logical to look for unusual activity in the stock markets. The'business situation in the Unit ed States has improved very much ir the last month, and the outlook i& en couraging. It is a very great gain to have dissipated the atmosphere of pessimism which was prevalent February, and that has been accom plished in large degree. The idea that the bottom was about to drop out of all markets, and that a grave pe riod of unemployment and perhap social disorder was pending, is no longer entertained. Trade in all lines devoted to construction. Unemplov ment is decreasing and systematic ef forts tb place every workman in a field of profitable employment have met with good success. Bank clearings are running far ahead of the records of other years, indicating a healthy in crease in domestic trade. Another graduate of the College of Idaho has won distinction. Hugh N. Caldwell of this city won the annual Kent Club prize at Yale. It is said Mr. Caldwell is the third College of Idaho man to win this debate. This Case Has a Hint for Tribune Readers A Caldwell woman has used Doan's Kidney Pills. She has found th'em as represented. She wishes her neighbors to know. She publicly recommends them No need td look further for a tested kidney remedy. The proof of merit is here and can be investigated. Profit by the statement of Mrs. Mil ton Foster, 407 Dearborn Ave. She says: "Some years ago when I was living in Kansas, I used Doan's Kid ney Pills. I had been having consid rable kidney trouble and had suffer ed with lameness in my back. I was also bothered with my kidneys being weak and acting irregularly. Doan's Kidne v Pills gave me the desired re sults in every way." Price 60c, at all dealers. Don't simply ask for a kidney remedy—get Doan's Kidney Pills—the same that Mrs. Foster had. Foster-Milburn Co., Mfgrs, Buffalo, N. Y.—Adver tisement. CALDWELL NEWS Many NEIGHBORHOOD TALK "Smith, I have heard so much about your new farm home that I just Well, Jones, we certainly are a little "ell, Jones, we certainly are a little proud of our new home, and are al ways glad to welcome inspection by our neighbors." "Come On in and look it over." "Wife and I have been thinking this house over for some time, but did not know exactly how to get it worked out to suit Us. I finally went in and talked the matter over with Mr. Sandmeyer of the Boise Payette, and he told me about the B -P ser vice plan; how they would take a rough sketch and work it over into a modern house to suit each individual case." Mr. Sandmeyer told me that his company maintained at Boise a complete designing department, su pervised by competent architects, who devoted their entire time in working out building problems for B-P pa trons at no cost whatever to them." Now, I will tell you, Jones, you can buy lumber anywhere, but you can not buy such service as has been ren dered to us bv the Boise Payette Lumber Co." "We have nothing but praise for the service, material^ prices or anything else connected with the deal." "Mr. Sandmeyer has^promis ed to fusther assist us in building our barns, laying out our grounds, etc." When we get all of our improvements made we vÄll have a ranch which looks like REAL. MONEY." "I am mighty glad that I' came over, Smith." Mysejf and several of my neighbors are figuring on build ing this fall, and we will sure go in and see Mr. Sandmeyer about our plans at once." BOISE PAYETTE LUMBER CO * TEN DAVIS + ***************** The Ladies' Aid met at the church Tuesday afternoon. Election of of ficers took place. The following were the officers elected: President. Mrs Penson; vice president, Mrs. Kurtz secretary, Mrs. Andrews; treasurer, Mrs. Small. Mrs. Wm. Gahley and little daugh ter, Welma, left the first of the week for Washington where Mrs. GahleJ will visit her sister. She will visit in California before returning home. Those who attended the commence ment exercises here Thursday even ing outside of the- Ten Davis com munity were: H. C. Baldridge, J. E. Kerrick, Mrs. C. Ben Ross, Misses Helen Usadell, Myra Casey and Josephine Spaeth, Mrs. M. M. Small, all of Parma; Rev. Vance, Misses Elizabeth O'Connor and Mildred Lovejoy and Rev. H. T. Mead of Caldwell. „ T , Edith and Marvin McLaughlin spent Thursday evening here. They attended the ^ommençement exer CI Thursday evening, May 8th a large crowd attended the commencement exercises given at the Grange hall. The hall was decorated with green foliage and large bouquets of lilacs and snowballs. A bouquet of pink carnations, the class flowers, were standing in a vase on the platform Seated on the platform were the two graduates, Sidney E. McLaughlin and George N. Tucker. Rev. Wm. F. Vance, Prof. Clinton O. Bay and Mr James B. Newport. At 8:30 o clock the following program was H'ven: Sessional P™ rl j?," 19 " Is' Chorus, "A Merry Heart^.^ Tnvöcäriön ...r.... .... CHnton O. Bay Solo Miss Elizabeth O'Connor Oration. "One Target" ............-••• , ; Sidney Eugene McLaughlin Oration. "Live and Let Live ...-■ Georpre Newton Tucker Girls'* Chorus (Neapolitan Boat Song) "Santa Lucia >• Commencement Address, The New Era of Opportunity^ Rev. Mm. F. Vance Presentation of Diplomas James B. Newport Soio, "By the Waters of Minne tooka" Thurlow I.ieurance Miss Elizabeth O'Connor^^ In The 'community and school was held Friday on the old T"cker place where G. L. Judd and family are Dry Zensal Moist Zensal Use one of these clean, odorless ointments for your skin troubles. Dry Zensal ffives speedy relief to all forms of dry eczema and pimples. Moist Zensal soothes and heals the watery eruptions. 75c a jar. Botkin-Joy Drug Co. fil Ash Your Dealer I \Renyjg,onS Grand Prize 1 firearms 0 Ammunition j " Write for C&t&loéue THE rtEMINOTON ARMS U M C CO »NC. living now. Although the wind blew some everybody enjoyed the day very much. About 10:30 o'clock the fol lowing program was given: Welcome Address..—A. W. Andrews Play, "Hiawatha" Grade Pupils Song, "Firefly" By Ten Girls Garden Exercise..— Primary Room Talk » S. G. Tucker Song, "Mill May" School After the program Mr. Bay gave the 7th and 8th grades and the high school their report cards. Before dinner a few stunts were pulled off, such as relay races and a few other races. Then after the races everybody lined up for dinner. And splendid dinner it was. The crowd enjoyed the eating part of the day more than the games of course. L. E. Jewell was in charge of the races and ball game which took place in the afternoon. A few races and contests such as pie eating contest, fat ladies' race, sack race, potato race, hundred yard dash, etc. When the races were over the crowd went up to the school house where the ball game took place. The school played against the ,, scri^b)s'' and were -beaten. Thosie playing on the school team were L. E. Jewell, Glen Penson, Sidney Mc Laughlin, George Tucker, Winston Miller, Wm. Specht, Elmer Weick, Paul Penson and Lyle Smith. Those of the "scrub" team were Robert Spaeth, Lester Bura.n, Cross Evans, Bert Coffey, Marion Kurtz, Gordon Judd, Maurice Judd, Martin Gahley and Marvin Newport. By the time the ball game was ended it was time to go home. The whole community enjoyed the day immensely. Mr. and Mrs. Miller, Miss Edna Miller and little nephew, Mrs. M. M. Caldwell and Myra of Nampa attend ed the school picnic here Friday. The principal of Ten Davis high school has prepared a term honor roll. Those receiving thie ranking "with greatest) pr|aise* were Peart Small, Emma Specht, George Tucker, Sidney McLaughlin, Bertha Bale) Georgia Newport and Charlotte Ham ilton. The following received the racking "with great praise:"" Bertha Sabin, Grace Brown, Artie Newport, Anna McLaughlin, Lyle Small, Frances Barnum, Elmer Weick, Grace Tucker and Anna Tucker. •1 t mm i m. û IUP« ÏJËÏ ï A Service that Keeps Trucks Running —a good service, —a service that provides you with good tires, —United States Solid Truck Tires. By virtue of a special vulcanizing process United States Solid Truck Tires are lighter than other solid tires, which means less dead weight on the motor. They are tougher and more resilient, which results in longer life for both tires and truck. Any way you figure it United States Solid Truck Tires reduce the cost of truck operation and maintenance to an amazing extent. Bring your truck around today and let us equip it with these good tires. United States Solid Truck Tires are Good Tires SERVICE TIRE CO. STREET PHONE MAIN (518 I What Brooklyn said to Omaha Welcome, friend from the town of "Ak Sar-Ben." First have an Owl Cigar and telJ me then how can you be so young and yet so big? Is it because of your smelters, your railway shops, your stockyards and dairies? Or b it more because you've got that Western Push?, Thanks, my Eastern friend, said Omaha, 1 must acknowledge my debt to you. Our jobbers sdl your sugar. Your harbor ex ports the grain from the country 'round about me. Now have one of my Owls. •* • • Far-flung does find ready get-together in Owl and White Owl cigars. Their dependability of fragrance has made these cigars "All-American" favorites—from big cities to tiny villager. Try them. They will tell you their own story of new dependability of smoking. o H Wm r hi te OWL 8^ TWO DEPENDABLE CIGARS GENERAL CIGAR CO., INC. B—t and Rusttll Branch «ou* City Dm M o I m LONDRES SHAPE 7< Those who merited the ranking "with praise" were Zora Penson, Floy Evans, Wayland Ashcroft, Harry Penson, Gretchen Evans, Myrtle Sparks, Pearl Sabin, Dorothea Gahley and Jessie Welbourne. After four months of splendid suc cess in its work the Ten Davis school closed Thursday evening. The pupils all made their semesters credit, pass ing with good grades. Since our new set of teachers came our school has improved wonderfully. Mr. Bay made a splendid principal and teach er. He being able to teach the chil dren to sing was very helpful and each student enjoyed the forty minute period of singing which they had ev ery day. Mr. Jewell was a favorite with the boys as he enjoyed ,being out doors playing baseball and any other games the boys played. Mr, Jewel was also an excellent eacher The rest of the teachers were" very successful as teachers alsp. Miss Ruth Miller and Mrs. Conners will teach here again next year. We all hope that the three teachers yet to be hired will be as successful teachers as their predecessors have been. Mrs. P. O'Conner * and Bryan, Misses Helen and Mildred Lovejoy and Elizabeth O'Connor of Caldwell were visitors here Friday. Clinton O. Bay left Saturday for Portland where he will spend the summer. Leo E. Jewell will spend few weeks in Boise before going east. Misses Ruth Miller and Ruth Mead and Mrs. Margaret Conners left Fri day evening for their respective homes where they will spend the va cation. Mr. and Mrs. ,L. J. Starkey of Me ridian were Sunday 'visitors in this neighborhood. Mrs. Chas. Gulliksen entertained at dinner Sunday Mr. and Mrs. L. J. Starkey, Mr. and Mrs. L. M. Buran. L. E. Small and family and G. L. Judd and family. Ship Will Carry 15,000 Increase in the troop-carrying ca pacity of the transport Leviathan, for merly the German liner Vaterland, so that the big ship will carry 15,000 per sons, including the crew, has been de cided by the navy department. About 11,500 is the capacity of the ship now. The increased room will be ob tained by utilizing space devoted to the promenade deck and to the huge swimming pool.