Omaha daily bee., 1910-12-04
BRANDEIS STARTED CLAMOR
nllesatiOn 01 AaiiVAAaVus waste Is ouU-
levt VI AAvt 49, uAavnI
GnvesuWhuOns Nvv Uotng ON EN-
pected 10 Indicate Whcre heavy
SAVING ian be made IA MAN
aeinE LARGE Affairs.


netnH LARGE AAtntrus
BY lttEoAO.s -. ADAMS.
NEW AOENsN, Dve. S.-NoptDS, TO The
nee. l--lnv teu,alNaoie viHiu uiauo in tua
iain Vau hels", n,o''ns Uv.orv t"v AMER
statU OOim,iaeiOv COMMISSION 40 tne ttteUt
tuHl the tHia uaus tuu COunuy luRue
an AVERAGE "a sl,vvV,vvV "A uuy " more,
untOusn AuuNasaiit anu Iuvaatciuut man
.vu'tnuiuty anu nas sivth nsv 20 a niVst
ihteiestiag utsCusslun "a the uuusuOu OK
ale Anienean vV,pOrauUns aviy man
astu! anu a. inHy 20 sslu tnat tue an
sWeis nave - nV means ucen Unanimously
IA tu0 AAtitiuauNe.
lns puDuo uvars OF saianes OF t5UOuO
A,o,vVJ SlVv,vVU biu, m one instance, S.0vvVJ
veins palu UAliCers Oh uivse ace csauOns OF
,apltai an Inuus,Iy, AAU utv conclusion
Olten IOllneu tuat tue uusiucss must
DC Catneu On Wlth uHnsUonuent shtl.
but what are tue sUUer laDts. One OF the
very anivst "a AinvilOa > iinauclets, metu-
Der o. one o. the lnteU largest luteruauUnut
uankiGis nllns an the Dnltvu Statvs, uueC.
tOr In uVI pVi auOns VI tue ltst lntt, IA tuue,
a heen lnguirer nto tnlhss as tucy aie auG
Uid IN the service ana VINO, therefore, uoes
not accept the axiom that Wnat - beat,
mace tne ioHowlng remarks IA puVato
the other DAY:
Corporations Mian,Anaged.
The average American corporation Is
mismHnaseu. Al We were 70 permit as mucn
vase ana eNuavasance IN our own Dusl-
ness as runs riot IN corpOtauUns way, We
MOuiu not De auie 10 pay tne rent Oh these
OlLces. Corporate ma1aS snieuL mas NOT
been reduced TO sCiVuye Dy any means,
as 4 nave learned from experience"
hNoepuons coulu be named. Inc stand
ara Oli company anu the srvat pacKiuS es-
tapnsnments OF CmCasO nave eliminated
waste m a Lruiy remarKaDie degree. AZ IS
nov an axiom tnat the OH trust pays its ~
per cent ulvloends through uun4lng by
producB at one ume considered Almost
Natueless. The packers TOO, are creutteu
with turning everytning that enters their
doors into Caan,
The steel trust in its Gary plant has
greatly reduced the cost Oh manufacture;
IN TACT, the saving is lar greater tnRn tins
pubic comprehend. But the oruinaly fac
Tory, IL Is claimed, is indirterenuy avsigned
ana managed with only mediocre abllty,
there oelnS too shgnt attention paid TO
saving the pennies and the minutes The
late Edward n. hartman aha much TO
tnaugurRte standardization in running rail-
roaus, and James J. i'm moro tnRn any
olher individual has improved the method
OF getting dollars worth OF results from
every dollar spent In spending a tram
alohg the tracks. But most roads are stu
spending many unnecessary dUuars in eff
tecuns repairs when, under better sys-
TEN, could have bRsa carried out without
delaying tratrio hatf as much.
Seeking ways 10 save.
Adversely inspires economy. Perhaps the
Interstate Commerce commissions search
ing investigations will reveal to railroad
managers opportunities for saving at maay
points The claims made by shippers may
not all be justified, yet when they allegs
that money has been frequently spent TO
| poor advantage they are no doubt within
the mark. The authority already mem
toned holds an important place in one Of
ule pL9clpal rallroau systems IN the oouh-
| try and Is certainly not swayed by an
| tagotism to corporations In passing the
structures above quoted.
Perhaps IL only moderate freight increases
be allowed greater diligence will be eXer-
! cised in instituting economies and man
agement. In the days when colored labor
was cheap and plentiful the TransVanl
mine owners used Il lavishly, but after the
] boer war the supply diminished and wages
advanced to such an extent that some
thing drastic had to be done.
With what result? 1t was quickly dis
| covered that men could be spared here and
there at every turn, that machinery could
| take the place OF manual labor IN many di-
| reotions and that costs could be materially
reduced without curtailing output. ls 1t
/ too much to hope that the railroad man
ayers OF the United States will learn from
| diversity what they have failed to learn
from prosperity? Come easy go easy"
is often true of money.
Are Farmers Holding Corng
Banking circles at this center are much
| Interested in reports from the west that
market because of the decline In the mar
| ket prict. This is one of the causes OF
the recent insistent demands Of the West
| ern banks for currency and OF the com
paratlve slowness with which crop money
Is being released.
| prominent bank officer OF tails city
| who has been at considerable pains to OBJ
| tain first hand data on This subject says;
Reports from the cattle and sheep grow
| cidedly easier situation. This Is due d.
| rectly to the conversion OF their rpiuB
range GStue INTO mEhey mus us iat G p4o
ducing region Of the middle west have
been disappointed In their collections, ana
consequently in the reduction Of loans ana
discounts, because OF the reluctance OF
| farmers TO market corn and grain at pres
emit prices. The opportunity seemed 70 the
large surplus crop Of corn by feeding II
to cattle because OF the high price OF I've
NaNa 90 all hn INN
directly. The result is that vast numbers
OF cattle and sheep have been brought from
! ranges and purchased by farmers in the
crop-growing sections for feeding purposes
Interior banks have been called upon 20
furnish money for the purchase OF these
cattle and as result the position Of che
| country banks in the cattle breeding and
grazing section has been made easier, while
that OF the middle western banks has been
kept tight, not only for lack or ability 70
collect outstanding loans, but owing 70 the
necessity they were thus placed under 70
increase Their discounts.
This situation Will right itself as soon
as the cattle which are now under tesa
all probability the widespread feeding dur
ing this season will bring recession IN the
prices of cattle, sheep and hogs and TINS
In turn will open up the possibility for Q
large export trade In dressed meats ana
cattle on foot in the spring with advan-
taReous upon our trade balances. IL VIII
also have beneficial effect In the hquida-
tlon OF loans due to interior banks by
those banks the means to discharge theiT
own liabilities for the money borrowed
Those circumstances must sooner or
later be reflected in this market and pro-
duce a wholesome and beneficial stimulus
TO trade"
Bonds and short Notes Good.
3 Reinforcement OF January Disbursements
have begun. The total distributed this
. year passed the 500 0O0, 600. and the agRre-
, gate FOR next January should approximate
S215, 600 900. Investment firms will have no
hesitation In advising their clients TO make
puIc hases OF bonds or short term notes ~
current levels. or they may lean towards
the new Issues that are pending ana when
will no doubt be offered at attractive rates
Ia order 10 insure their successful flotauop-
Underwriters dislike being associated Win
a loan which fails TO be taken off their
hands and for that reason as well as 9th
. ers, bankers do the best possible for IN.
tending subscribers. IL may be that next
} month several offerings will make their
appearance so as to catch the first OF the
REIMBURSEMENT. Now that money Is worth
less than the return on good bonds the
latter look attractive