Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-12-12

practically no chance whatever for
any currency reform measure, and the
advocates OF the national reserve sys-
tenn have probably abandoned the |
nghi for thls season because Instead |
OF Intelligent discussion the politio-
ians viii again appeal TO popular pre-
JUDGE by agitation againat the buga- |
boo of banking trust" How little
foundation thero Is for such talk II
seen hy the last annual report OF the
comptroller. which shows that ABOUT
one-hrif ~ the bank capital % the
United states or si.Ois. 100000. L. In
vested In the national banks. only
n per cent of this sum II invested In
banks OF 100000 capital and over.
and only % per cent In banks having
between 100000 and ts,O0o.OOo
capital.
Whether any amendment OF the
sherman law viii be effected or not is
no, a matter OF great Importance.
President Taft has shown the way toI
adjustment. and aa irritation subsidies
nur bankers and business men are be-
ginning to ind that there IL no inter-.
ton OF destroying big business. but
simply a determination on the part OF
the government to compel big business
20 comply with the laer. A good many
concerns may be- Obliged TO roorgan-
lie or readjust themselves. with tenn
porary Inconvenience and uncertainty,
hut in that there In nothing dcstruc-
tive. and az the task approaches COM
pletion the corporation question viii
gradually disappear ms disturbing
element. II In very much like house
moving. an exceedingly disagreeable
exps riencc. hut one thatusually brings
Increased family comfort when hnish-
"a.
The money situation attracts more
attention with approach OF the year
end. short-daie money Is ilrmer mere.
and In London rates are advancing.
Rumors Of an advance In the hank
rate are In circulation. but at present
these are premature. January dis
bursements will aggregate over t220.-
o0OoO0. Bank reserves have fallen
below the legal requirements, but this
causes no unehsincss because Of our
large credits abroad. and the fact that
currency VIII return freely from the
Interior after the middle OF January.
A temporary stlnenlng OF rates incl
dental TO preparation for interest and
divident payments Of January first
need cause no surprise. Investment
demands viii be pretty sure 10 Inn
prove early In the new ycnr. There
h no doubt that large sums Of idle
money are awaiting employment and
have been simply holding back for
better terms owing to tho high cost
OF living, the Investor IL seeking larger
returns. and u really in position to
Insist upon better terms. Tho most
fayorlte form of Investment Just now
Is either bonds or short-term notes,
and Il II estimated that large
amOut OF the latter could be placed
with little difficulty. There Is also a
continued good demand for municipal
Issues In some Of the financial centors.
II 10 about time that the January in
vcstment demand made itself appar-
ont. as shrewd buyers often make
their selections In December In antic-
lpation Of the January disbursements.
The purchase OF ontario A Western
By New York Central strengthens the
belief that the latter II contemplating
a large issue OF bonds or notes.
| ~ HHNt NFWMN wv MITE
VI usual al the end of the year when
business men are moro engaged with
4 closing accounts or stock taking than
/ with consideration Of new enterprises
This ~ also the period OF the year
, when out-of-door work IL largely sus-
!, pended, which further tends to quiet
I noaa In trade. Basic conditions. how
ever, are sound and reasonably salts
factory and the tendency IA toward
ultimate Improvement. The Voiume
Of trade, though somewhat less than
a year ago, has not shown the con-
= traction that was expected. and does
T not support the recent complaints OF
I. reaction. Conditions are not as bad
: aH represented hy those who have
= been disturbed or dlsErunilcd by 0ns
= cause or another The year lust clos
) ms has been one OF decided quiet
. We have been taking the rest cure
A with benefit. but there has been ne
a retrogression OF consequence. only 1
J. general readiustmcnt which viii place
= the country In much better position
a for a fresh forward movement thar
: was the case a year ago. The annual
: report OF the department OF agrlcul,
ture shows that our crops this veal
4 were valued AZ about $500. O00. GOO
y or only about three per cent below
4 lagt year All the important CROP
y We're slightly smaller In quantity ex
y cept cotton, but values realized n
nsarly every case were higher. so thai
= the agricultural classes enjoyed lib
!, efni but nut record breaking prosper
. ny Thee Is a shinkage IN the value
4 OF cotton OF about si00, G00. GOO. bu
: even a. current low prices the crol
h WIZ Yield q return to the planters
a much above the average 80 that "a,
y south should experience a good yea
II N spite "f low prices. There was als'
III a Shr'nsHke IN the value Of onimal