The Washington times., 1910-08-11
Publisher Says Agitation Tor
Revision Is Detrimental
to Business.
SCORES CRISIS TALK
Magazine and Newspaper Owner
Declares Himself q Born Opt
mist" on Country's Condition.

The New York Herald prints the
cabled from Europe
ALSBURG-Among Americans ar
irving here who have kept q close
watch on Wall Street and the f.
nanciaI situation in the United States
is Mr. Frank A sIunsey. OF New York.
whose magazine and newspaper pubu-
cation interests extend through various
cities
Unlike Samuel Untermyer, and others
whose views already have appeared
in the Herald, Mr.. 8Iunsey believes the
so-called antitrust cases which are
pending before the Federal Supreme
Court form a factor that may keep
the brakes on financial activities until
the problem involved Is settled and that
they operated to keep large CapitaIistic
interests from aggressIveIy supporting
the market during the recent depres-
sion
Cher Disturbing Factors
Tariff agitation and the question OF
high wages Tor labor are held UP as
other disturbing factors with which
business must contend On the other
hand M 0IUHsey, who Is a heavy hold
e. OF American securities, sees no
danger TO the railroads in supervisory
legislation extending the powers Of the
Interstate Commerce Commission.
Neither does he take any stock in the
bear cry OF crop failures. With
equal emphasis he taboOes the talk Of
crises and -'panics-' which have in
sidUOusly emanated from the same
quarter
I'm a born Optimist.' said Mr.. Nun
sey, after he returned from a s-iD zen
auto" to Vienna, ''but I'm not so de-
cidedly optimistic about business c0ndi-
tons resumins their normal level ia a
hurry. I do not believe prices Of good
securities VIII 90 much lower. though 1
believe many shares are very far be-
low their intrinsic value
Must Await Court Decision.
Il do not think capital. and by that
mean the large interests whose activi-
ties support and prevent depressed mar
kets, viu take much of a practical in
terest in affairs until there has been
an Interpretation OF the Sherman anti
trust law by the Federal Supreme
Court That must take time, for there
now are three new justices 20 be ap-
pointed and certainly there IS 20 way
for any one accurately TO calculate in
read
IF the Government should prove vic
torfous through the decision in the
cases involving Standard Oil and Amer
lean Tobacco Companies that The or
EaniZatiOn of every great corporation
Is illegal. then there must be need OF
wide changes in conditions
President Taft. in his message Of
January last, asked Congress 20 enact
alternatives which might provide for
such contingency He said aatly mat
unless Congress acted he would enforce
the law as Il stood
Message CONCEALED Capital.
Cup TO the time Of that message we
were headed for q period Of extraordi-
arv prosperity. That message CONCEALED
capital. Congress failed TO enact any
laws that might afford alternatives in
case the Government won its po-u-s in
the antitrust cases
In the circumstances. therefore Il
cannot believe capital IS likely 20 in
vest until the Sherman law has been
construed The question of the CLASH
dcatiOn Of property is not a prime issue.
Il is a question as TO whether business
can be done on established lines"
do you believe in the genUineness Of
the cry that recent railroad legislation
is destined TO be detrimental to the rail
Eoads7" I asked
i certainly think the railroad IeEisla-
ton vas WISE asserted NJ. AuDSey-
ct was bound TO come There must be
supervision in some degree. and such a
movement. backed as Il IS by the ap-
proEal OF the masses Of the people can
not he stopped N such cases I believe
&c better for the interests involved 10
lend q helping hand. to the end that
they viii gain FAR more by doing so
then they ever can By VaInly trying
TO fight of legislation
Approves New Law.
7 believe the new law VIII aid the (
railroads instead Of harming them and /
do much toward creating mutual trust