The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-10-13
LATEST LETTER
OF HENRY CLEWS
NEW YoRK. octoher | lllO.

d
tanned I'm the better distribution that
large banking interests have recent
~ been able to make of bonds With
in the last fortnight some 5O,000,000
in new securities have been success
FULLY placed, including the S7,5OO,00o
Union Pacific fOurs sold this week IN
London After a prolonged season of
depression IL is IN the bond depart
ment Of the market that first signs Of
improvement usually appear; and
there is nothing to suggest that the
bond situation will at this time prove
faulty barometer of the approach
ing financial weather
The Republican convention at Sar-
atoga this week may be regarded as
marking the elimination of the
spectacular bitterness which has
been so actively shown among the
leaders of the dominant political
party. Ex- President Roosevelt's sue
cess places upon him a tremendous
responsibility which undoubtedly ne
/ fully recognizes It is most natural
to expect that from now on he VIII
exhibit the pronounced traits that
have made him so conspicuous as
political leader. In other words, Mr..
! Roosevelt having taken the active
leadership in his own State may now
be depended upon to work with MS
accustomed energy and skill for the
success of the ticket that he himself
has been so largely responible for
naming; and it is quite reasonable 10
expect that he will use to accomplish
tbis end all the wiles of the trained
politician. not the least important OF
effective of which are cooperation
and cordiality with fe..ow workers.
Colonel Roosevelt is too experienced
and ito astute a politician to permit
personal rancors to continue the do
minating features during the remain
der of the campaign, which from now
on should assume a constantly de-
creasing influence as factor in the
general financial situation.
] The frank. unstinted enrosement Of
President Taft and his administration
by the New York State Republican
: convention is another feature of sig
nificance in the general fnaneia
J situation The President has beer
conducting the duties of his greai
office in a calm and judicial manner
and has not been attempting by his
acts to advances This own political am
billions. His policy in this respect
cannot fail to secure the endorsement
: of our broad minded American people
3 and his assurances that ASSOCIATED
capital is to have fair play means
much to the great army of American
citizens who are the chief stockhold
ers in our railroads. in our great in
dustrial corporations, our public util
tiles and other forms of investmen;
The President is at present givin
\ careful consideration to the filling O
! the two vacancies in the Suprem
j Court. His recent admirable selec
ton of Governor Hughes of New Yor
n NAV be accepted as an indication 1
a the type of men he will select
u occupy the responsible situations un
e der consideration. No President ev
u err had a better opportunity to serv
e the people than President Taft /
+ his selection of Justices for the Su
u preme Court bench. Agitatio
e against combinations of capital an
+ industry. not to mention the gres
Il transportations lines of the countr,
y has become so popular that it is be
~ coming increasingly difficult to fin
men with sufficient self reliance, sui
- ! ficient breadth 'of mind and sufficieI
y courage to stand out for absolut
" Justice in the face of popular clamo
- Such a man we know GovernC
y Hughes to be; and we know ais
), that other present members of Il
Supreme Court bench are similar
endowed. We have reason to belie'
that the new selections to be mac
by the President will prove Who'll
satisfactory. The net result of tn
20 situation can hardly be overestima
of ed. The Standard Oil and the Anne
=. lean Tobacco cases under such COZ
NJ ditions lose their force as features
ic alarm, and we may feel thorough
Il. assured that whatever decisions a
N reached will be based on the const
tutional rights of property, We c1
ask or desire nothing more. If the
organizations in their form cOntr
Yene the laws, ample opportunity W
. be given them to conform to Il
u. laws. There will be no attempt
D. confiscation, and it is quite fair
ke assume that under the new cond
- 1.