The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-07-02
FINANCIAL NOTES


Wall street news summary
to president on ii,resuEanon o. Z. S. S.eeil
Without recommendations.
~ STOCK os exchange transae'icns sor SIX
iaoi ths show decrease about rs peg cent
. Exports az port of New lo-S '9r year
increased sl2i ,oi6 over last yeaf- Imports
brooklyn Rapid Transit Will build rev
,,,d FsfaI year Of tseasaTs Dc Department.
] New York Central lines SHOWS moderate
increase in net earnings for May. o
Idle car report shows decrease OF -
Work resumes on new 500" go steel
plant near Birmingham, Ala. ,i
SO per cent compared with week ago anc
z per cent. with last year.
Bradstreet's bank clearirss report for
the week ending June - shows an asgte-
Goo last Week and s. 81 ~ .35d.a1S in The cor
responding week last year.
Business on the New York stock e--
change in June was in smaller yoluln7
than that q Nay the 5ota; OF }o2S s1 ,s
shares. Bond sales were ABOUT the sain~t
III volume, there being a sinai Increase
The Baldwin Locomotive works hns re,
ceiyed an order for eighty passengsr aud
freight locomotives from the A;chison
railway. The order aggregates si!ooe.ooe.
Bank elearings in Chicago in June
amounted ed, to sl,16e.s21 ,l6l. a decrease II
ST. So, 1863, OF per cent. as compared
with the local clearings in June last year
In the first la half Of this year the 'i-"rinss
were 1892, /, 40 $50. This amount IL s23:,
'sos!3. or 31-3 per cent less than the
clearings in the corresponding period last
year.
i'll semi annual interest and dividend pay
ments $3.50, 600 600, or $2s. ooo0o0 more tha q
on July i. 1910" says Boersaincr. The
rooted solvency of the country and the
growth of business
In the six months Of the financial year
capital was put into new, and for the
further development, of old entesp7ises:
twelve months totals over $500 ooo, 900
against $1s7 100000 in the previous yenrly
period. Much more than half OF the $500,
tween Jan. 1 and June 30.
With such facts and figures before the
economist. the admission is inevitable that
he talk of ''slowness" here ana 'depres-
sion there.
900 Of new money in six months for bust
ness purposes, when its foreign trade en-
hances by above 1910, 10000. there must
have been unwonted activity Somewhere.
good 5,S ACCOUNT q Itself the tu.aTe PEN
may be embraced with confidence. excel
lent. In its way, as was the work OF the
past. In manner 1t has been preparatory
for what will be done between now and
1 December.
Especially pertinent is this to what was
done In the judicial and legislative world
| After many years Of uncertainty, public
| corporations know their legal status. Man.
agers are now well aware whether their
| stewardships are lawful or unlawful. The
decisions rendered by the United States
supreme court in the Standard Oil and the
American Tobacco cases have clarified the
situation.
These two judgments were the monen
ltous legal events of the half year. The
Judges told business men that there Is nc
lironclad dungeon restricted, Jeffries like
Interpretation md application of the Sher
Imam act. Reasonable monopoly" .'rea
lsonabl trade were phrases used by the
Icourt which will become classic guides t.
|corporatiop procedure. Only when compa
tnes have attempted destructive monopoly
where they have been ruthless in their re
Istrictions of trade are they culpable.
| Every man in charge Of important com
lmercial and financial affairs necessarily i:
Possessed of reason and of a conscience
gagged in reasonable trade. This is very
Hong step forward Business men now gen
Iera1ly acknowledge the supreme courts ap
|plication of the law of reason to hay
IIeen perfectly sound, the only rationa
lHay Of dealing with the fresh problems
(which economic evolution has brought ant
must continue to bring.
| New Panama bonds were quoted 1929
bid and 10:% asked in New York Satur
ifoy