New-York tribune., 1908-02-23
MARKETS ARE FlRMER
HITCH OYER THE TINEO-
Settlement of Shipbuilding Labor
Dispute LikeIy-Yankee Bugaboo.
Especial by French Cable to The TribuHe-,

TCop,rsht 1905. BY The Tribune Association-l
London, Feb. 22-The week is closing with
frmer tendencies in the leading markets. which
are not affected by American fiurries- The COM
para1ive ease OF money induces cheerfuiness'
and shrewd fnanciers are looking for a ) per cent
bank rate. David Lloyd-George's ultimate sue
cess in settling the engineering and shlpOuho-
ing dispute at Newcastle is expected because
the employers and the trade unions trust him
and are willing TO abide by the results OF Of
fetal Intervention When both parties are
eager TO enter into conference with him the
avoidance Of a disastrous strike seems certain
although the details remain unsettled
The complete question of the relation Of ex-
penditure and taxes has become the pivot on
which political policies turn. The economists
who insist that retrenchment must not be oe-
ferred: that neither England nor Germany can
afford to continue TO waste money on excessive
naval armarlents, and that the government must
not commit the country to ruinous, demoralizlng
roeusiou schemes are laughed out Of court Tne
naval raartfnets and the labor agitators are
masters of the situation, because the politicians
do not venture to defy them. If one party does
not build battleships and finance social reform
the other will 90 it, even if the conservatives
do offer resistance TO eight-hour mining Dill
or z pension system with pauperizing tenden-
cies National finance, instead OF being kept
high above party is now common stock Tor
political barter.
Whether Walter and Pearson have a secret
understanding by which the small stockholders
of The Times" and their solicitors can De set
tied with economically, or whether Moberly Ben
S irving 10 form q syndicate for financing the
leading English journal. a sale of some klno
will apparently be forced by order of the court
IS
thing like a public auction. but authentic in
,-,-,.+;or ca-nn+ he obtained from any quarter
TherA are hornilies in Free Trade journals
,sta The Manchester Guardian on the danger
IN great trusts for the manufacture Of pubic
o-,inion but these are not based on the prac-
-icsl experience Of the last general election
when the Liberals carried the country Win
r,overful press combinations against them ne
-r,yth seems to be that The Times Is ike
IN old London theatre which has become un-
manageable through subdivision OF interests
and Z multiplication Of privileges ana per
or7isites The drastic action OF the courts Il
REQUIRED before il can be Adequately hllaICeu
,7 rsetored 10 its oldtire efficiency. The repu-
fation and influence Of The Times are 50 s'eh'
mar .bere cannot be any lack Of financial re-
-7,--oee ,vran the small shareholders and the
solicitors behind them are once settled WITH IN
- ,,,- of court. and limited company is sub
.-;,,,.aa for the cumbersome partnership which
-, 1orqer works satisfactorily There have been
,te ,,z7,al outcries that the Yankees are trying
- b,,,- The Times" Il has become an Eng
Iish foIble TO hold America responsive Nhe'iet
stock business is bad the Kimberley olarloiio
-,-oduct unrnarketable, the price OF rubber low,
The iron trade stagnant, or the tunes out OIL
soirt. there IS always the irrePressible Yankee
II the bottom Of it i ~