Richmond Palladium (Daily), Volume 40, Number 195, 29 July 1915 — Page 14
THE RICHMOND PALLADIUM AND IIjUN-TEIGRAM THURSDAY, JULY 29, 1915.
HOW WILL :' DEEtMBEOTS PAY U. S. FOB SUPPLIES
Financier PrOOOlinds Prob- expanded without harm; but-a . new
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lcm Which Will Confront American Bankers and Creditors When War Ends.
United States Alone Accumulates Capital and Forms World's Free Investment Market.
BY HENRY CLEW8. NEW YORK, July 29. How will some of the belligerents pay for the enormous war supplies bought in the United States? This is the problem of the future in American financial cir
cles. Orders thus far received already
and hundreds of millions more are practically sure to follow; for peace is not yet In sight, and the war has by no means reached its greatest intensity. Prognostications are futile; yet it Is more than probable that the problem of financing the war has not reached the real crisis or test, and an increasing waste of life and property must be expected as the struggle grows in bitterness and destructiveness. It goes without saying that some of the warrInar nntinna vhn am rilmrtlv nr indi
rectly purchasing war materials here can not pay cash to any extent, because they ane evidently spending several times their national savings in prosecution of the war.
Use Treasury Notes. Treasury notes can only be used to , a limited extent, and long term credit
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, woica me Be oraers can oe nuaurau, I because an indefinite period must i elapse before Europe can again send us ' sufficient merchandise or gold to even ' approximately balance our exports. Gold we do not absolutely need, and ' Europe cannot spare it in large en-
' ough amounts. Thus far Europe has returned us between 4 to 5 hundred
millions of securities; but European indebtedness to American manufacturers will increase on an enormous scale
during the next six months, and the Foreign Exchange situation will be one demanding the highest skill and
resourcefulness for solution. Foreign holders, especially British, seem un
willing to part with their American investments. It would seem, however.
as If a partial solution will be the sending back to this country of a still larger portion of their holdings in
Americans. The Canadian $45,000,000 6 per cent loan, which will probably
be promptly subscribed, will also help the situation. The United States Is the only important nation In the world that is now accumulating capital from its . I 1 1 m 1 A
savings, it. is aiso me oniy iree invest
ment market In the world, since all the great powers of Europe are pouring
their savings and energies Into the wretched melting pot of war. There
are no indications, however, as yet, of
American disposition to buy foreign government bonds with any freedom.
A fair amount might be absorbed by institutions and trust funds here, especially if terms were made still more attractive; but the amount would be relatively small when compared with the many billions already issued
abroad. Credits Accumulate.
If, then, American manufacturers are to continue accepting munition contracts, some very extensive credits
will have to be arranged for by Amer
ican bankers; and these credits or short term obligations, whatever they
may be, will eventually have to be ex
tended or turned into fixed debt in some form. It is well, therefore, to keep in mind as to what would be the effect of this immense mass of foreign
credits upon American finances, es
pecially in view of the fact that the market for these foreign obligations on this side will necesarily be limited. Of course, the credits thus far granted have imposed no financial strain here, and they could undoubtedly be greatly
At.
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troduced Into our finances, one with which American bankers and investors are not entirely familiar, and the handling of this problem 'successfully will require the greatest prudence and the most skillful foresight. The best and most natural adjustment would be
a gradual return of American securities from abroad, which Investors here
would doubtless absorb, and which foreign holders could realize upon to better advantage than upon their home investments, for which there is only an Indifferent outside market. A further return of American securities here would do no harm. We have plenty of funds to invest; but the owners are shp of new projects, and inclined
more to shares of well established concerns, whose market values have been sustained in spite of present adverse circumstances. There Is no doubt about one fact, and that Is, American stocks, railroad or Industrial, of the better class are now the most desirable and most substantial of any in the world's markets. Our' growing resources, financial, industrial and commercial, as well as our freedom and distance from European distributions entitle them to preference above all others. Home conditions are generally satisfactory. The crop outlook is particularly so. Some deterioration has taken place, as usual in the summer months, and more may follow; but a bumper grain crop is now almost within geach, and the American farmer is practically sure of good demand and good pri
ces foe all -food products, which- mesa another season : of prosperity., . The South Is naturally disturbed over the cotton outlook,, possibly more so than necessary. War has . unavoidably, deranged the cotton market, as it has many other staple commodities. It is the South 's main product, and the restrictions imposed upon it by Great Britain have very naturally created ir-
HELP SIGN OUT.
INDIANAPOLIS, July 29. Uncle Sam has the "Help Wanted" sign out in Indiana again and will hold examinations at Marion, Bloomingotn, Evansvllle, Fort Wayne, - Lafayette, Richmond, South Bend. Terre Haute and Valparaiso.
STATE-LINE
-Dave, Epple. Osa and John Duvall Monday afternoon.
Mrs. Earl Larsh visited her parents and Mrs. Lucy Lafuze and son Virgil, spent Tuesday in Richmond. Ralph Druley of Beechymire was in Boston Monday evening on business. Harry and. John Campbell and C. J. Cline were in Boston Monday evening. Walter Parks and family and C. J. Cline were Richmond shoppers Wednesday. - ' ' Oliver Duvall returned Tuesday to his home in Calif ornai after a visit at the Duvall homestead.
Unusual Things, ; Worth Knowing
Britain in 1914 exported 59,039.880 tons of coal. ." " Scotland in 1913 mined 42,456,576 tons of coal. Algeria in 1914 exported $388,316 worth of dates. - ' Tokio restricts , extra . editions of newspapers. ' The woman suffrage party of Brook1
lyn.bave an orchestra oi. their. own. made up of young musicians. - - There are 795 registered chaff eurs in .California. " . . California this : year will - produce 30.000 tons of olives. .,. -, i " ; ; Manchuria . this year will produce 30.000 tons of olives. Manchuria in 1914 imported 16,600,000 gallons of kerosene. Australia possesses -1,172 steamers as her mercantile marine. Cleveland threatens to demolish 200 old fire trap buildings. Full sunlight is 600,000 times brighter than full moonlight. The moving picture censorship law
in Pennsylvania provides lor a woman censor, at a salary of $2,500 a year. ; -Porto Rico in , 1914 bought $787 worth of beer from Denmark. Madrid's four breweries daily turn but 66,000 gallons of beer. , ! ; St. Louis grammar ' school - graduated 2,500 pupils this year.' '
Mme. Eugenie de. Reus Jancoulesco, president of , the Rumanian Woman Suffrage society, has received the highest decoration possible for a woman in that country, the Bene Merenti. First Class, in recognition of her . literary and social work.
THE HOGGSON BUILDING METHOD Assures a better result architecturally a. dccaratively both artistic a mechanical . J: tcH:fitt tit rtrrrr. ; . V HOGGSON BROTHERS 7 EaaC 44th Sc. New York XtW YORK - BOSTOS VFW HAVES CHICAGO - ATLANTA
HEM0 IS MORE THAN MALTED MILK-COSTS SAME A Delicious Food Drink
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SaittiLTiipdlcaiy
Read Tomorrow's Palladium
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The thoughtful ones Those who waited tor this Big Semi Annual Sale found the Bargains were greater and the quantities larger than at any other sale of the year. Every Bargain Table throughout the store is heaped up with good things that save you money. Read the price then come tomorrow. If you cannot attend in person order by mail. .
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AMjjSaEeltoir Mem-Compare Tltoese Prfices MEN, COME TO THE STORE THAT SAVES YOU MONEY
Men's Cassimere Suits in plain colors d A Q and stripes, sale price ip) Men's Wool Mixed Suits, worth $7.50; Loom End Sale price $6.29 Men's All Wool Suits in plains, Tartan checks and fancies; sale price $7.35 Men's and Boys' Khaki Trousers, Sale price 79 Men's $1.50 Trousers, Loom End Sale ....$1.35 Men's $2.00 Trousers,. Loom End Sale $1.65 Men's $3.00 Trousers, Loom End Sale ....$2.65 Men's $5.00 Trousers, Loom End Sale $3.59
37c
Men's Wbrk Shirts in all
colors, worth 50c, sale price
One lot of Boys' Suits, values from $2 to $3; Sale Price Sl.OO One lot of Boys' Suits, values from $3.00 to $4.00; Sale price $1.89 Men's Balbriggan and Porosknit Union Suits, $1.00 value; Sale price ...79 Boys' 50c Wash Suits, Loom End Sale price 39 One lot of Men's and Boys' 50c Dress Shirts, Sale price 25
39c
Men's Silk HatsSale price
Men's Grey and Black Socks, Sale price 5k One lot of Men's 50c Shirts and Drawers; Sale price 33 Men's 10c Handkerchiefs, Sale price; 4 for....25 Boys' 25c Waists; sale price 21 Boys' Suits, worth $5 and $6, Sale price $4.25 All Wool Blue Serge Suits for boys; Sale ..$3.49
NOTE TUCQC
1 IIII.WU SPECIALS
Men's 50c Balbriggan, Porosknlt and Ath
letic Union Suits, Sale price 39 Men's and Boys' 25c Belts and Suspenders. Sale 19 Men's and Boys' 50c Belts and Suspenders, Sale 39 Men's 15c Dress Socks, Sale price -11 Men's 25c Shirts and Drawers, Sale price 19 Boys' 15c Shirts and Drawers, Sale price. ... .15
Ttoese Are Bnnsy Pays In fllie Dry Goods Seettnoe
Come Tomorrow and Saturday for These Wonderful Savings
Loom Ends of 6c Calicos QJL Loom End Sale, per yard ...D2v Remnants of 7c Crash; Loom End Sale, per yard 4 7c Unbleached Muslin; Loom' End Sale, per yard 4 7c Apron Ginghams in fancy and even checks; 'Loom End Sale, per yard 4c 12c Linen Crash in bleached and unbleached, Loom End Sale, yard, g 10c Hope Muslin, Loom End Sale, per yard 7'2& 50c Bed Sheets, size 72x90; Loom End Sale 38 15c Pillow Cases, size 36x42; Loom End Sale, each 9 12 c Linen Huck Towels, large size; Loom End Sale 7! 50c Barber Towels, Loom End Sale, per dozen 38 28c Seamless Sheeting in Bleached or Unbleached; Loom End Sale, per yard 20d 25c Curtain Goods in plain or colored bordered; Loom End Sale, yd. 12 Calicos in stock, during sale per yard 4'2 8c Comfort Calicos; Loom End Sale, per yard 5 One lot of 18c Table Oil Cloth; Loom End sale, per yard 1Q
$1.00 Couch Covers, full size, 4Q Loom End Sale rrtC 50c Table Linens, full mercerized; Loom End Sale, per yard 33c 30c Cotton Damask; Loom End Sale, per yard 19 12c Dress Ginghams and Cheviots, Loom End Sale, per yard. . . .'JVz 12c yard wide Percales; Loom End Sale, per yard 7!4 20c White Plisses, 31 inches wide. good for Summer Gowns; Loom End Sale, per yard 10 35c Lace Cloths, Voiles and Rice Cloths; Loom End Sale, yd., 19 25c Cotton Reps and Silk Stripe Poplins; Loom End Sale, per yard 18 25c Cotton Plisses, 31 inches wide; Loom End Sale, per yard 18 20c Summer Dress Goods; Loom End Sale, per yard 11 15c Summer Crepes and Tissues; Loom End Sale, per yard gj 8 l-3c Lawns; Loom End Sale, yd. 4 1214c Heavy Straw Tisking; Loom End sale, per yard 7'2 25c Heavy A. C. A. Tick; Loom End sale, per yard 15 25c Extra Heavy Turkish Towels: Loom End Sale, each 19 12c Long Cloth. 10 yards to bolt; Loom End Sale, per bolt 79
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Read About These Big Loom End Sale Bargains
3 burner Perfection Oil Stove QQ Sale P I VO 3 burner Detroit Vapor Gasoline Oil Stoves $13.48 2 burner Heavy Steel Ov--ens, tin lined $2.39 Favorite Open Washing Machine $1.98 Ball bearing enclosed cog wheel Wringer $2.98 Large folding Ironing Board and Stand .... .89c 4 sewed heavy Broom. Sale .....19c
Hammocks, all sizes and Tn.T.. $5.00 100 pes decorated Dinner sets, sale $7.48 Large stoneware slop Jars Sale 39c Mason Fruit Jars, pints or quarts, doz 49c Star Tin Cans 35c doz. 3 doz. for $1.00 Percale Petticoats, values to 98c. Sale 39c One lot $1.00 Cfi house dresses. Sale OUC
$1.00 white wash Skirts. Sale 79c Values to $1.98 house and street Dresses. Sale... 98c 50c Kimona Aprons. Loom End Sale 32c 50c Corsets. Loom End Sale 39c $1.00 Corsets. Loom End Sale 79c $1.25 Muslin Gowns Sale 69c Women's 50c Muslin Dresses. Sale 37c $1.25 Muslin Skirts... 69c
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Loom End Sale of Shoes
$1.00 $1.00 $1.69
Women's Shoes, values to $2.50 Sale Womens WTilte Shoes and Slippers All ... Men's Elk Outing Shoes
Now ,
We Expect Big Crowds To attend our Great Loom End Sale the last of this week and to repay them for coming we have some very special values in all departments for Friday and Saturday.
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