Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-05-22
The World of Finance and Trade.
Washington; New York; London

self in a position where 1t can control
production and price.
Mr.. HaWley does not seem to be max
ing very great impression as the heir
to Mr. Hartman in market leadership.
He has surrounded himself with a group
lof very strong people and whenever he
starts in to do stunt on the stock eX-
change he stirS things up. At the same
time he has not yet been able to command
the blind confidence of the public Mr..
Hartman did. For one thing he lacks
dominable courage. Mr.. Hartman was
ALWAYS willing and generally able to pun
ish people who got in his way. He had
the street in state of terror almost
No man or combination of men in Wall
street felt like crossing him during the
last two or three years OF his life. They
gave him the right OF way at all times.
He carried a big stick and showed his
teeth like another great man with whom
the people are familiar Nobody is afraid
as anybody knows. manifested dispo-
siton to punish. and it would seem with
out that quality there can be no supreme
leadership in the larger field OF action. he
Hawey may he good corps commander
bat he will hardly achieve the rank of
field marshal.
Steel Stocks in Paris.
The bulletins from Paris are to the
effect that renewed efforts TO have Unit
ed states Steel stocks listed on the
bourse are likely to meet with success.
The next time an announcement is made
that the stocks are to receive official
recognition in Paris there will be no slip
up. The last experience was very hu-
initiating to the house of j. +. Morgan
& Co. and expensive to the group or
spectators who assume to be in con-
necton with the establishment. In Vul-
gar parlance. they shot their mouths off
too soon.' and they will not make the
same mistake again. Another item or
news from Paris is that the American
corporations that are trying to market
bonds in France will have special issues
in which the denomination will be in
francs They would very cheerfuly
comply with this French requirement to
any amount that might. be named. The
Wall street manufacturers of bonds al
ways seek to please. If there was any
thing in it they would print bonds and
stocks in yens or marks or any other
kind of money that buyers might have.
The summary of late industrial man
ual gotten out by a standard concern
will greatly relieve the minds OF people
who might think the supply of stocks
and bonds. would run out. 1t shows that
the industrials of the United States have
share capitalization of $13, 132, 900
and bond capitalization of S4.@1.O 100000.
a total of ST., so, 100000. The total cap
italization of the railroads of the United
States is 1884 ,O0O.OD. With stocks and
bonds totaling about $4,000. OOO. 600 there
will be plenty of material to gamble in
for all who want to indulge.
Friendly Attitude Shown.
The present attitude of a majority of
the important people in Wall street is
more friendly toward the market than
it has been for good while. That may
be for the reason that they realize that
they must give active support to prices
and help along the game of speculation
if they would do the financing for their
corporations which they want to. In the
forefront Of this demand for new capital
are several corporations in which lead
ing Standard Oil men are heavily in
terested, If not in actual control. This
helps things out somewhat, and is tacit
insurance that there will be no danger
Gus interference with bullish campaign
once started. There is feeling abroad
that announcement of the success of
the st. Paul bond fiotatiOn, which seems
to be unaccountably hanging fire, will
be the signal for a movement of con-
sequence in the market
Railroad earnings for March are eS-
timated at about sos 100000 The official
record, out day or two ago gives the
February earnings at 500, 100000.
Opening prices for most of the active
stocks Thursday morning averaged near
ly point above Wednesdays closing.
This would seem to give some confirma-
ton to the absurd theory that a secret
fear of the comets tail depressed the
market Tuesday and Wednesday and that
the higher prices were merely an express
sion of relief that nothing had happened.