Ogden Daily Standard | 1915-01-12 | Page 4 | Country on a Solid Financial Basis

VJ COUNTRY ON A SOLID FINANCIAL BASIS. Financial clouds are being swept away, according to the published statement of Hayden, Stone & Co., of Boston. The favorable signs are. "The railroads have at last begun to buy; not, to be sure, in any large quantities, but they are more positively posi-tively in the market than for many months past The companies furnishing fur-nishing supplies to them direct will be the first to feel the effect of this policy, but gradually this influence should permeate through tho whole industrial structure. Another im portant change for the better is the continued heay shipment of cotton. This will pile up our credit balance abroad and tend to lower still further the exchange rate. It should also be noted, as of special importance, that the first large loan to a South American country has been successfully success-fully floated This is the first practical prac-tical step taken to secure the trade of this continent, about which there has been so much talk. "While there has been a considerable consider-able advance in the stock market, let it be remembered that the general average is still fifteen points below that of a year ago, which, at the time, was not regarded as a high level. 'Let it also be remembered that there has been a more thorough liquidation throughout the country than there has been for many years. Moreover, politically, po-litically, as well as financially, there Is reason to believe that the worst is behind us. There could still be then further improvement before a level would be reached where a possible necessity to liquidate the war's economic eco-nomic loss would bring about disastrous disas-trous results. 1