The Cairo bulletin., 1910-02-21
Special.

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Special.
New York, Feb. 10. 1910.
The Improvement looked for in our
lprevious advices made itself apparent
more promptly than expected. In place
|of the extreme pessimism and un-
Ieasiness which had existed for sew.
ePal weeks, more hopeful and con
lldent feeling developed. Stocks are
resting on level below the normal in
view Of existing conditions and now
find frmer support than previously
In consequence the bear interest cur
tailed their operations, and more or
less good buying ensued. The un-
easincss attending the political situa-
tion appears to have about run its
course; especially since the discovery
1 that no funds have been provided to
lcarry out the publicity features of the
Corporation Tax. 1t is now recognized
that most of the reforms for which
President Taft stands cannot work in
jury in the long run. His attitude re-
garding reasonable publicity for large
corporations is sound and should be
| supported. There is no more reason
| why the great Industrial corporations
| should not give certain details regard
| ing their affairs than the railroads
Publicity regarding their affairs is
one OF the chief safeguards against
abuse of the great powers which they
| possess. Remove the mystery CON
cerning these large organizations and
much of the public distrust of them
would Immediately vanish. Publicity
| by promoting the confidence of inves-
tors AMI disarming popular clamor
legitimate interests Of stockholders
than any other single act.
Necessary Reforms.
Publicity, however, is only one Of
other reforms necessary in the man
agement Of our great corporation, ard
1T is folly to assume that carrying
them out Is going to work any injury
to the stock market 1t is quite prob
able that the introduction OF reforms
may interfere with the plans or cer-
tain individuals, carsing temporary
unsettement OF values; but in Inc
| long run it is going to be highly bene-
| fetal to have our great business in
stitutions conducted upon lines that
are unquestionable, whether from the
ethical, legal or the economic stand
ipOint. For this reason it is hardly
prudent to anticipate any serious dis
aster from the forthcoming decisions
Of the supreme court. There is no
doubt but that the men who form that
august body are better exponents OF
| the law and better Judges Of publ h
welfare than the managers OF some OF
our large industrial corporations, who
have often exploited their newly
gained powers for purely selfish ends
| The country and investors generally
| win profit If such operations are made
increasingly difficult. There Is still
some fear regarding the forthcoming
decisions of the supreme court on the
Tobacco, Standard on and Union Pa
cific cases; but it would create no
surprise if, even should these be ur-
favorable, their effect will have been
more than discounted. In each in
stance these organizations will con
tinue to perform their functions as
before, to the benefit Of capital and
labor alike. and whatever disturbance
may occur owing to disruption Of or.
ganization, it will be purely TEN.
poraly.
Monetary Outlook.
The monetary outlook is assuring
Funds are abundant and comparative
ly easy rates of interest are practical
ly assured for several months to
come. 1t must be remembered also
that money Is now more efficient and
will go further than three months ago
becarse Of the heavy shrinkage IN
values. General business has shown
a slight slackening down in activity
the recent decline in the stock mar
ket having induced much more con.
Iservative feeling in business circles
something very desirable In view Of
the ultra-optimism with which the new
year opened. In all probability with
the approach of spring there will be
a decided quickening in all depart
ments of commercial and Industrial