The Washington herald., 1910-01-24
WALL STREET NEWS
Past Weeks Trading Indi-
Gates Change for Better.
MONEY TO BECOME EASIER
Cause for High Food Prices Attrib-
uted TO Holding Back of Grain for
tainties, Which Are Clearing Up in
View of What Congress VIII Do.

New York. Jan. 23.-Afrairs in Wall
street are sometimes slow in getting under
way. but when they do move they often
move rapidly
For a considerable period previous to
the beginning of the present year the
action OF the stock market, regarded
solely in Itself and without reference to
the nature Of the factors influencing it,
was such as to beget suspicion In the
minds Of experienced observers that the
market had become more or less water
logged, and that no substantial advance
in it was probable until something OF
shaking-out process had been gone
through with. There has been in the
stock market a tumbling over OF specu-
lative pyramids such as has not happened
since February of last year. Before re-
cent events in Wall street the prospect
was that If business in the country con-
tinued TO expand relatively stiff rates for
money could be again expected within a
few weeks time. But now the situation
has so altered that a period of some
months of easy money is looked for by the
best people in banking circles.
In the English financial community a
more cheerful sentiment is steadily in
creasing.
Business is expanding in France and
Germany and in Europe generally. Our
country has been the first as II usually
is. to recover from the effects of business
adversely. and now that the whole world
is joining in this upward movement the
aaf fnF r. 90 Af.4
is made brighter than ever.
Politics Not to Change.
AS regards the course OF political af-
fairs at Washington, which have admit
tedly been a source Of financial discour-
agement Of late. this. at least. may be
said that the worst that can happen in
the way of Federal legislation is already
known, and that the event of such legis-
lation may turn out TO be better than
expected.
There are doubtless few among those IN
executive control OF our railroad COM
panies who have not long since made up
their minds to the fact that some sort
of State or national supervision OF their
business is inevitable.
While a combination Of corporations
having either for its object or effect
control Of prices IN any important direc-
ton in the country's trade or industry
Is Illegal, yet that a combination Of
corporations not pretending TO exercise
or actually exercising such a control IS
legal.
Il is plain that the problem Of the high
cost of living in the country, OF at least
in the Eastern part of the country, re-
mains vexatious and serious, and should
many months pass and this problem re-
main unsolved certain leading questions
will be presented TO the political and
business interests Of the country, one Of
these being a much greater and more
positive demand than has hitherto been
made for a revision OF the tariff
The people of small incomes, the gen
eral professional class, and the country s
wage earners in general will not be con-
tent through a prolonged further length
of time to pay such prices for meat and
eggs. for milk and butter, and for all
the necessaries Of life that they now do.
A movement Of protest against these
conditions has already reached great pro-
portions.
Blame High Rates to Farmers.
Bankers in our city and others whose
place in the business world puts them
closely In touch with the state of affairs
In the Western farming districts say
that one Of the chief reasons for current
high prices of wheat and corn is that
these crops have moved to market this
year With extreme slowness and that the
farmers are holding on to their stocks Of
grain IN order 10 get what they think
will be a much higher price for il later on.
There is no export demand for staple
grain products at the present level. or at
least at the level of a few weeks ago,
while manifestly the foreigners have
stopped buying cotton at present quota
tons. Now, what will be the state of
mind of the farmers If as the season
advances the promise unfolds of a winter
wheat crop in 1910 larger than ever
known before in the country's history?