Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-04-22
TURKEY AND GREECE
Effect Of Their War on Business Con-
ditions in the United States.
TIE PRICE OF CEREALS WILL RISE
Then Stimulation to All Lines of
Commerce VIII Follow.
OF CIERS

The interest felt in the prevailing 'Turko-
Greeian war: Is not confined to the results
of the conflicts between the respective
armies by any means. but extends to other
features and is particularly prominent In
relation to the effect the hostiuties will
have on business conditions in the United
States. The bankers of community and
the others who are engaged in capitalistic
enterprises are best qualified to understand
and describe the conditions that may fol-
low s foreign conflict. so far as the in
fiuence uron this peaceful country is con-
cerned, aid in order to secure the views
Of the f1nanciers of Washington upon the
subject Star reporter this morning called
upon number of them. The gentlemen
visited were unanimous in the belief that
q continuance Of the war in southern
Europe would be greatly advantageous in
Improving the business conditions in this
country.
Mr.. Charles J. Bell. president of the
American Security and Trust Company:
The first effects Of the war, in my opin-
lon, will be to knock down the prices of
stocks in Wall street. If 1t continues it
will lift the prices Of breadstuffs. That
would be eminent1y advantageous to this
country, as In order to start the wheels
moving the first thing Is to increase the
value of the farmers products. 1 have al
ways felt that a war abroad would greatly
improve business in the United States. A
rise in the price Of breadstufrs-I mean a
real, substantial rise, and not the spasmod-
ic advances that are manipulated in the
Chicago wheat pit-would be the very thing
needed to put this country on its feet and
start 1t ahead again."
Mr.. F. c. Stevens. president Of the West
End National Bank-'If the war continues
for any length Of time its effect on business
In the United States will be very beneficial
The first effect will be to depress American
securities and this Is evident now. But
foreigners will shortly seek investment in
these securities which cannot be affected in
a country at peace. and the opposite condi-
lions will prevail. A continuance Of the
war will also cause a substantial rise in
the price Of cereal products, with the ex-
hilarating effect on business that always
accompanies an Improvement in such d.
rection."
Mr.. John Joy Edison. president of the
washington Loan and Trust Company
The effect OF the war. II it continues will
be beneficial upon business in this country
1t will create demand for our food pro-
ducts at advanced prices and have stirnu-
lating effect in every dir ction."
Mr. w. b. Hibbs of w. B. Hibbs & Co.:
The Turko-Grecian war, or any other
foreign war. cannot have other than a
good eject on the business of this coua-
try. When hostilities first commence in
such an instance the immediate effect is
one Of depression Of our securities Euro
pean holders of American securities want
to realize at once and get in hand ready
money to purchase either powder or
prunes: as the case may be- Our people
Immediately invest in the holdings offered
by the foreign holders at the low figures
obtainable. Then the foreigners eventually
come back after them. and are compelled
to pay substantial advances to regain the
securities There was more stock pur-
chased Tuesday in New York by English
investors than by Americans. London buy
ing 50,000 shares"
: Mr.
Traders National Bank: II do. not entici-i
pate long war between Turkey and
Greece. Neither Of them has any money
and 1t needs money to carry on war. Mod
erin warfare Is not so much a question of
strength as 1t is a matter of skill and
money. The two nations will exhaust them
selves. think. Consequently there will be
scarcely any opportunity for this country
to feel any of the beneficial effects that
would without question result from a pro-
tracted war
Mr.. Clarence F. Norment, president of
the Central National Bank: II cannot see
how the Turko-Grecian war can of itself
have any material effect on the business
OF this country. l find very general hope,
cruel as it is, that the other powers will
get mixed up in 1t. so that a general Euro
pean war will result Such state Of at
fairs would, of course, be very advanta-
geous to the United States, because our
markets would be open. while those Of
Europe would be closed. and prices would
go to high figures. not alone for bread
stuffs. but for manufactured products as
we'll" 90
MT E; s. Parker. president of the Co
iumDia National Bank: american securi-
ties Will be Influenced but little by the
Greco-Turkish war, for the reason that
1t VIII not be participated in by the great
powers. Money is too plentiful and too
cheap In this country-more so than in
any other place on earth-tor the market
Tor American securities to be disturbed.
and the variations will be only for few
points at most Any securities sent here
by reports of a general war in Europe
would be readily purchased and absorbed
by the home market Even Europeans
will buy American securities as safe in
vestments rather than sell. The value
of securities has been remarkably steady
for the last three months and there will
be none thrown overheard at the present
outbreak to be picked up as bargains by
the courageous purchaser"