The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-22
ROOSEVELT, AND WALLST.

20 ri ~ 4 ~ Z Z
Altho improving monetary conditions
we're working for increased confidence
md number Of favorable influences
were to the front, Wall street never,
theless kept an eye open to the south,
ward this week, for trouble. Certain |
speeches that: the president was SEIZED |
uled, to- make on his tour were calcu-
lated to have effect. Everyone knew
what their general tenor would be,
since the attitude Of the president in the
matter of railroad rate regulation has
been clear for long time There was
a lingering fear, however, that he might
say something too radical, something
strong enough to give the bears in
stocks chance to raise the cry of ad-t
verse legislation. Nothing Of the sort.
followed, altho a temporary dip in
prices about midweek. that affected
nearly every leading stock, was attrib-
utable to this nervousness.
!: It has in fact been sort of .sspeech
market - in stocks for some little time.
Developments in the great life insur-
ance investigation now going on, have
naturally induced number of miner
addresses having reference to reform,
and greater publicity of corporate at
fairs. Several men Of prominence have
been quoted, upon various phases Of the
general question, and all were conserv-
ative. Mr.. Nash, of the New York
clearing house, made some very sound
remarks about the New York trust COM
panies, their operations, and their
standing as compared with the banks,
and advised change of methods in
some important matters. Mr.. Wander
lip addressed the bankers association.
advising caution in affairs relating in
any way to speculation. All this was
good talk and none Of it was unfavor-
able The president, in, his speeches,
said only that characteristic Of him.
He has in fact given the street notice
that it may expect legislation looking
to. greater regulation of railroad az.
fairs, or, at any rate, it may expect a
recommendation from him to congress
may think of the possible effect Of con.
gresslonal action upon the market, it
cannot question the consistency Of the
president, who, ever since the Northern
Securities case, has repeatedly declared
himself. Neither can the street be
blind to the popular demand for action
Of some sort. This has got to be faced
There is little likelihood that any radi
| cal element will work into control sanC
bring about legislation Of an unsettline
nature, nor is there any good reason
handled by congress without serious
disturbance of values, even in the spec
| ulatlve sense. 80 ! '-"'<- &
Contrary to thed predictions Of man,
men Of good Judgment who saw 10 pei
cent call money close at hand, no high
rates have been heard. Gold continues
moving this way, and with every addi
tlonal engagement abroad, probabilitie!
| OF high interest rates are set furthe7
ahead. Ultimately it will be q .qt1es
ton of an. adequate money supply 70:
the interior. It may be, that later il
the year, OF after the turn Of thee=year
We are to have a repetition Of The o1t
trouble, with thessecretary Of the treas
ury strainiiig his poMers tostide. over ,
this manageable, but saoaw Jay about out;
now, is to borrow trouble. =.
The general Summary PRESENTS III
same points as last week, only the ca
sltuation is on the whole a tride worse
4 In the northwest there is Sprospec
for some relief in. the next week @
two, in the matter of moving the graf
to- market, as it ia expected that til
heavy cattle; shipments now taking s
many. cars from TWO Of the most i'm
Portant. lines, will have eased off cor
siderably by that. time. The wester
trade is carrying in.nind the great cor
4 gestion Of ffeight s*att fake ports Just b.
!, fore the close Of navigation two year
ago, and in fear Of its repetition
Traffic. men say. the public has .littl
appreciation of the immensitys Of 9h
tonnage moving and lying ready t
: move. Heavy as sarefa the crops. an
: loud as is the cry from the agriculture
states for more cars, this is only on
. side Of it,. The west had a turn {
3 conservatism just before crop maturit
> this year, and thousands Of countr
: buyers went slow, until assurance can
Y. of good, yields Then they bougl
= heavily land started the wave goin
! from country to jobber and to man
D faeturer and importer. The roads tn;
5 carry the freight out of New Yor
; Boston, Philadelphia and Baltimore, f,
0 the west, are hard put to it to: hand
c the tonnage, the Pittsburg district
y calling for thousands more cars, viii
l. the demands for! cars to move grain ar
e other produce for which ocean room HI
: beeen engaged, to: the seaboard, is i
creasing every day.