Show I TT FINANCIAL MINING MINING AND OIL NEWS J Edited by Ira Ita C. C Tichenor SPUR OF PATRIOTISM IS SEEN BEHIND COMING LOAN Business Affairs as Affected i iby by World War Are Discussed Dis- Dis I f cussed by Clews That transactions in stock exchange securities should be confined to limited proportions does not appear remarkable It If analysis is frankly attempted of the conditions under which they are being conducted We Va are for tor instance at the threshold war wat l loan l larger in volume Itis it itis of a new I is understood n t J. J and more attractive t In return than either of the offerings which have preceded it At the same time we every day are approaching on the western western west west- active resumption on ona ona ona em ern war front the a major scale of hostilities which with the arrival of spring are so inevitable says Henry Clews dews in his latest market letter S SIt It has heretofore been emphasized Jn I n theE thera advices that the renewal of ot acute actie fighting this year ear contains for us a much I greater personal element Our own men are for the first time to undertake a I liberal share of the burden of ot the war I Every day the new arrivals of pf our troops I in France will add to American sib ties It need not be said that these rel responsibilities will be shouldered manfully manfully manfully man man- fully and successfully But the Inevitable ble toll of war var must be faced frankly from now on a much wider appreciation will at home here be entertained of ot the thereal thereal i ireal real cost of w war r. r This is a factor in the i financial situation which should be appraised appraised ap ap- apI ap- I praised at its face value value value-It it is the Inexorable in inexorable In- In price of our participation In-I In Inthis in inthis inthis this war ivar of empires As to the ultimate duration of oC thc the struggle the weeks week's developments development contain con con- conI I tam fain tain little which seems to suggest that the end has approached appreciably nearer From the general Investment standpoint stand point there appears no reason to chan change e views recently expressed in these ad ad- vices rices On the one hand must be recognized recognized recognized the competition for the savings of the offering offering of- of Investors ln which will accompany fering next month of the new war bond issue Undoubtedly the utmost pressure will vill be exerted to make the new offering an outstanding success The bonds themselves will be attractive and will In Jn addition have behind them the spur of patriotism to make effective demands upon the floating supply of funds available available avail avail- able for Investment In addition Is to tobe he be expected some degree of liquidation the release of having ha for Its Us purpose funds already occupying fixed channels But on the other hand conditions have recently arisen as a re result of the farsightedness far far- of our officials at Washington Washing Washing- sightedness which ton which clear up a contingency Y without such action hardly could have failed to have culminated in enforced liquidation of securities in sufficient voLume voL- voL S ume me to produce m most st serious results |