Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-07-08
STEEL TRUST REPORT
FAVORABLE TO
COMBINE
Henry Clews in Weekly Let
ter Declares However, That
Herbert Knox Smiths State.
ment Makes Talk.

That the uiuu IuUtIIre .uuttt 81 OF
Tho southern Pa,ifi. nN stock owner
ship docs NOT DuutfU,n. the shrr-
man antitrust ACT I4 Development
ur distinct Importance. ~ removes a
barrier that has existed Ton some
thine. preventing the open. concerted
operation OF uuu-compouuf, lines 81
transportation coming ut this time
when court rulings haN, been sn unit
formN against formal cooperation
among our great industrial sud rail-
read combinations. 10 VIII exert q
stcaGyIng inuurur, uu the miId OF
tho investor. as IL is ultpDt evidence
that th. courts Wr De- drurudcd
upon Co protect rrrurIt interests 1H
faithful, ns tbcN do pubu. Interests.
rb, shan, adNtu,, no 90, stock
market price l,,rl that accompanied
The decision received somewhat Of u
check. however. az q result OF th"
s,p.ts additional and conclusive ,,i.
dru,, col the disposition uu th, uurt
uf tho administration 10 coutuu, Go
prob, tho current methods COZ uur
large Industrial corporations Nud
thor, ts ,yidpntN substantial -Iuuud
for the belief that until after th'
pt, sidrutiN election OF u,Nt t,1r both
cot iur great political PARTIES ma, Dee
depended upuH 600 W.lk. ua great q
spectacular display as possible iu the
direction cot appculjus Co popular
prejudice hN attacking trusts iu lrss
identified language uf continuing e.
'trusl- hustinE" campaign Each joe
'ti.U party is Jealous "l thr other Iu
tbN connections aud 40, on, iu oiiiD"
BE- hurdN likely tu loaN, any stone
uutruod That viii permit Important
ud,autag, tu 10, taken by rumpou-
cor 300 tho approaching political cam
puigu Thus "a, have stll iu sight 20
u,r|nd ui uuspitlrmyut There Inns
this week.. Tor instance. been tho aC-
ton cot the local federal Strand iury be-
u'ug criminal indictments ia tho case
ui officials aud corporations tiunlud-
ing steel corporation subsidiaries iu
connection with th, wire price aercr-
mcpt ut some wears age, aud this t"l-
lows similar Information connected
WITH NEGOTIATIONS OF tine steel cor
uuration's cement pctiyitips. rho hu-
rrau of corporations has furnished TO
the president "a report giving tn, roe
suit OF It's studies Into tho iron and
rir,l Industry boa this country In
this report the commissioner. MI.
Herbert kuoN smith. presents state
w,uts Go show that The Steel ror-
pofatiou is much greater domiuU-
ing influence though chicfN as re-
SUN oi its ore resources. than has
been generally supposed The report
ar Who'll, d. favorable tu the core
puratiou nui 10 VIII nevertheless COM
sttutc what mas Doe termed q text
hook for campaign orators of both pu-
Iuca parties tu dcuuuuyr trusts
during next years presidential ram-
paIEu.
Thus We have before u. ia this di-
rrgton Incentive rur no utu, irrcgu-
iaru, loo tho market far stock ox-
chang, securities bu the other hand
Fundamental Influence are certainty
favorable and tho outuuk. therefore.
suggests q period cot active fuctua-
lions that win constitute au Ideal and
prntH,t,d market Ton traders
Luukug "a thu NOR, favorable in
uu,uc,s that present themselves. we
natr n an" first place what ar, uu-
d,uiably excellent crop prospects.
gaius n North and south Dakota
have Wcasurabi1 improved the spring
wheat harvest outlook An excellent
y
aud corn white sim subject to the
,icissitudes OF Weather Is mus tar iu
good shupc cotton gives every PRONE
isc 81 sausiactort yicld 40 cXrcllcnt
priccs. resulting from an Accumulated
demand. HaN ana uats are rather
disappointing aud viii therefore.
stimulate the demand FOR corn as
ford Bu the harvest outlook. com
...H 4.
another link n the hong, unbrokon
chain ot years 90 agricultural pros
prrlt, THIS means n tutu a trc-
ui,udous purchasing power Sur the
products OF Industry which cannot
mil To- SHOW itself In general mrr-
camille activity when tho improved
movement once realty begins. stocks
of merchandise in course OF diStribu-
ton aud u the hands OF manJfac-
tuners are unusually light and must
Doc promptly replaced The demand
irom consumers has during the last
Few months been restricted &" dnN-to-
day requirements and has been sup
plied put of stocks n process "i dis
trihutiou. both retail and wholesale
merchants IN their own purchases
from first hands merely rejecting the
lliulleh demands Tor actual rnuHuitp-
ton Thus our manufacturer VIII
hc face 20 face in a short time not
only with supplying the accumulated
demand of consumers bat also with
supplying in the ordinary channels
Of distribution products 10 bring sup
plies in these channels up 10 normal
distributing proportions
An evidence OF the continued
abundance of money feature that
has been the primary cause OF IN,
steady advance that has taken plac,
in the market level " the fact that
accommodations of funds Co pay ~,
large scmi-aunual dividends and In
tcrcst disbursements have been made
thi4 year without an appreciate har'
drniue In rental rates for money
The July disbursements at New Norh
are estimated az about t23'. 1000 oNo
some Important part of which vii
unquestionably seek reinvestment 10
tAr stock marAet Bat beyond TIM
the ability of the banks 90 finance
these large transactions without straii
furnishes good ground for bcuef tina
N