Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-05

need for any reasonable purpose. 1lose
without credit are still unable L" get
money for any purpose whatever except
at very hig!! rates of interest. The bank
ers of New York and other great cities
are moro discrinl'na ting than they ever
were before between enterprises win
good credit and enterprises with poor
credit. Chips and Whetstnnes "r" not
considered good collateral at the present
time. The Illinois Central has just placed
a large bond issue at very satisfactory
prices; the Santa Fc has done likewise;
the Union Pacific and Pernsvlvanla have
had no trouble in raising large loans and
the papers say the Milwaukee and ST.
Panl system is contemplating d loan OF
one hundred million dollars to complete
It's tracks to tho Pacific.
Risky Enterprises Not Popular.
This indicates that there is plenty OF
money for any wise aud prudent enter
prise, and ] hear of several that are
likely to he undertaken during the coming
year. People are going little cautiously
and not making any mistakes, and that Is
one of the healthiest signs of the times.
If the Sherman antitrust law did not
apply to railways some of the roads
which have no credit in the financial mar
ket might undoubtedly be taken under
the fostering care and receive an lnfu-
sion of credit from corporations that are
be wholesome and beneficial for every
one concerned. More rails would be laid;
more locomotives and cars would be or
dered; the mills and furnaces would be
kept busier; thousands Of men would be
given employment; travel would be safer;
the service would be better: trains would
he more punctual. and investors would
receive dividends from their money
enterprises which involve risk are
not popular just at present, and promoters
T.. Il, two, HI IN, "a q
money to carry them out: but enterprises
that command and deserve the confidence
Of the public will not have any difficulty
in securing all the necessary FUNDS
Many extensions and betterments Of pros
porous roads which were arrested by the
panic are now being resumed and will be
carried through. but they will be man.
aged with caution and economy
Work for Everybody Soon.
There is going to be work for everybody
in this country very soon who is willing
to work. Almost every manufacturing
establishment from one end Of the
United States to the other has either re-
sumed operations or Is getting ready to
down entirely during the panic are tax
ing back all their hands and working
full time again. This is not being done on
speculation. but on actual orders, and the
eject Will soou uc btcH III SFciS III oiiSii u
trade.
Mr.. Mortons opinions are confirmed by
everybody with whom I have talked, and
while there is no hflarity In commercial
circles. and no hysteria- there is a uni
versal feeling of confidence and cheerful
ness Mr. James ]. Hill, chairman of the
Great Northern railway, who has been
quite pessimistic since the panic. now sees
a silver lining through his clouds and
does not take such a gloomy view Of af-
fai no did yacentlS
Conditions are undoubtedly improv-
ing he said. There is greater conf
dence everywhere and in the northwest
moving forward People are not so timid
as they were and are willing to put their
money into undertakings which seem to
promise profit The farmers have har-
vested fair crops and will realize more
for them than ever before.
Taft Cannot Do It All.
But we must not expect improvements
to come on too fast; we must not load all
the responsibility on Brother Taft's
shoulders. He cannot do it all. The re-
sponsibilty of bringing about prosperity
again is On the shoulders of millions of
persons, scattered all over this country,
who must have confidence in each other
and must be assured that there will not
be too much experimental
In regard to industrial activity" said
Mr.. Hill. we must remember that the
stocks OF goods on all the shelves
throughout the country have run very
low and they will have to he replsnshed
That is true of every kind of business
falroading as we'll as merchandising. 1t
is encoura ging to know that the factories
are busy furnishing what is needed and