New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-27
SCH|FF HOME; OPTIMISTIC
Thinks Recent Stock Declines
Result of Manipulation.
EUROPE WILL NEED GRAIN
Banker Deprecates Talk of Seri-
Gus Labor Trouble on
Hartman Lines.

Jacob q. Schin. head Of the banking
house OF Kuhn. Loeb y Co. returned from
Europe yesterday on the steamer Xaiserin
Auguste Victoria He said that with the
exception Of two or three weeks spent I'm
London and Berlin he had kept away from
the large centres, and in consequence was
not well qualified 70 express himself upon
immediate affairs. hut said he was optimis-
tic regarding business conditions for the
future, both here and in Europe.
Mr.. Schiff deprecated talk Of serious labor
trouble occurring on the Hartman lines.
He said that underlying conditions here so
far as known 70 him. we're favorable ana
that he did not look with Apprehension
upon the recent considerable decline IL
stock values He ventured the opinion that
this decline was to a great extent simply
a consequence Of the unjustihed and IN
wise attempts earlier in the summer 10
advance prices of stocks through specula-
tive manipulation in the face OF the de
structive Standard OIL and Tobacco de-
oisions.
The crop outlook abroad was gloomy
said Mr.. Schif. owing to the excessive heat
and the long absence of rain that had
expected that large supplies of grain would
be required from the United States
Speaking Of Germany. where he spent
considerable part Of his time. MI Schir
declared that he was particularly opumls-
tic regarding the financial and business con-
ditions in that country. He found consio-
cradle commercial and industrial ac-
tivity and expansion there, he added ana
labor was evidently well satisfied, and the
country's wealth appeared 10 be on the IN
crease. In Germany, he said, the law and
the government were IN favor OF lnous
trial combination, and trade and commerce
cot every encouragement 10 expand ana
were neither harassed nor stifled by veN-
Atlous governmental methods. Labor les
lslation there he added. sought to protect
alike employer and omploye, and he eA-
messed the belief that America could learn
considerable from "a careful study or Ger
rna.y's economic methods. particularly the
manner In which she dealt with labor prob
lens.
When he left England. Mr.. Schif assert
eJ the country was in the throes or the
great railway and dock laborers STRIKE
the consequences Of which, he thought
wouId even though a settlement had since
been reached. be far reaching In their e-lec'
upon dustrial conditions there.
William H. Truesdale, president OF the
Delaware. Lackawanna Il Western Rail
road Company. was a fellow passenger
with Mr. scmff He said he had been III
Europe on d pleasure trip, motoring
through France and England. and Tad KEEP
away from the large cities as much as pos
sjble on account of the labor trouble he
said he thought there was justification toi
the strikes in Great Britain, but expressed
great surprise when told about the threat
ened strike Of shopmen on the Hartman
lines.
ct don't know what they want 10 str1Ke
for he said. They ought 10 know wha'
wages men are getting on the other SIDE.
Mr. Truesdale said he believed that the
attacks upon large corporations by me
United States government were unWaffan.
Cd and unfortunate. tie said ne was unable
20 discuss general business oondiuons' as
he had rot been keeping in touch with
them while abroad.