New-York tribune., 1907-09-21
NR. TILFORD,S VIEWS.
President of Lincoln Trust Com pany
Thinks Worst Is Orer.

Frank Tiford. president Of the Lincoln Trust
Company and president Of Park & Tilford, who
IS in close touch with banking and mercantile
conditions both in New York and all over the
country. yesterday said that in his opinion the
present financial depression and loss Of conf
ience was in large part due TO the overzealous-
ness Of the Washington administration in con-
Quoting its campaign Of reform against corpora
tions which were violating the law" He thought
that some slackening Of business would have
come in time. but that the policy Of the admin
istration had hastened il.
Mr.. Tilford said that there question
that the trusts in many instances had abused
the laws by having become great uonopolies.
He thought that the administration, however,
had made mistake by not contenting itself with
enforcing the letter the laws the statute
books to-day without probing into what had
been done five or ten years ago. In this way he
believed that confidence had been badly shaken
and business upset Had the administration
been content with correcting present abuses in
vestors all over the world would have been saved
the tremendous losses which they have suffered
through the shrinhage IN the values of securities
IN the last two years
Il think" said Mr. Tilford, that the present
great unrest Of the people is owing 10 the ex-
posure Of trust methods. This unrest is very
dangerous. and the administration should do
what il 70 curb and quiet it 1 believe that
the administration should stop probing into what
has already happened. Let It correct abuses in
future by enforcing the law and let the past
alone"
Take my grocery business Mr.. Tflford con-
tinued, with it's fifteen hundred employees They
are paid 10 per cent more than a year ago and
:he hours Of work are shorter. Yet there is this
feeling of discomfort
The speaker said that he thought the busi-
ness condition Of the country sound with
a doubt. Collections in the country dis
tricts. Re said. good. but somewhat
slow IN The city. This because people in
this city had lost such large sums through the
depreciation Of good securities.
As president of the Lincoln Trust Company
the views Of Mr. Tilford the money outlook
interesting. He doss not think the money
market will continue tight He believes there
viii be a good market for money at fair rate.
but foresees no decided stringency.
i think said the speaker. that We have
Eeen the worst Of the financial depression ana
the tight money Merchants have supplied
themselves to a large extent with funds ana
are curtailing orders. We are having no greater
demands upon us for money than are custom
ary al this season OF the year. Our deposits
have kept up remarkably we'll We have now
eight thousand depositors-
Touching on the outlook for the next Presi-
Dental campaign Mr. Tilford, who is ana al
ways has been a stanch Republican. said mat
he favored no particular candidate at present. lie
believed, however that the Introduction OF So
cialism as an active issue of the Deinocia,'9
platform would tend greatly to disturb the
country's business
Mr. Tilford referred to the local gas anu
electric light companies in which he is largely
interested, as good examples of the harm Ill. III