Bisbee daily review., 1911-01-12
COURT DECISION IN TRUSTS |S
 NOT FEARED
Henry CIews Thinks That Even Adverse Decision
 Will Be Harmless

NEW YoRK.-TAe first week of 1911 has acted letter than it's pre- decessors in 1910 and 1909 each
 of which signallzed the rev rear
 with slump ia values. There ws.,
 9 distinctly more cheerful sentiment
 and prices displayed an encourag-
 ing degree of strength. TEe 6asis
 of Improvement is the co-parat.velg
 easy condition of the money -arsst
 and prosreLs u5 s5 eoatirgarca
 The enc-ct .Ee-yc2r paymeEts have
 safely passed and funds wnl soon 1T t7 return more freely from
 the interior. It is pc-sit.e thae ths
 Eastward movement O. cu-repc,
 nay not be quite as early or large
 as at one tine expected. because of
 the extensive borrowings of western
 farmers eisher to hold orops or to
 invest in cattle for feeding purposes.
 funds, however, detained for these l legitimate purposes will gin5 their
 way later on to the financial cen.
 lers Perahps the strongest influences
 Tor cheap money are the prevailing dulnea7 of srade and the late decline
 In both security and commodity
 values; factors which have st-, taneously released a large amount
 Of meney and increased its eftc.- ency.
 Not only is domestic money mar. ct in very satisfactory condition. b,lt
 he same remark applies to the in,
 ternaeional money market. Easy
 rates prevail in London. Paris and Berlin. The situation over there iJ also favorable. Funds are plentiful and there is every prospeet that Europe will be good buyer of SC curities during 1911, This is parti- cularly true of London. for the req son that Great Britian is enjoyinq extraordinary prosperity and will have correspond.ngly large amounts for investment The disposition oe foreign buyers towards American investments is becoming distinctly more friendly While the hostile a. titude. manifested toworls capital bv our various branches or government National, State and city-is dis liked over there. this feeling is large ly if not more than eounteracted by recognition of the increased safe guards which are at the same time being thrown around American in- vestments. The fact that many of the exploitations which disgraced cur financial operation in Dreviors years could not be now repeated. ] together with the many restrictions now imposed upon new issues. have done much to regain the confidence of foreign investors in American securities. l. is no exaggeration t, say that the foreign outlook foi American investments is exception- ally favorable. and eno9gh so to prove an important element of support
 ln the focal situation there is also considerable betterment This must be credited to the growing ease ia money and better investment cen ditions. There has been a much en- ;arged demand for bonds especially those exempt from taxation, and she low prices at which many goo
 issues can be mad make them seem exceedingly attractive in compar- ison with current rates of inIeres.- The same remark applies to the Do1- ter class stocks whcse diviiend-paT
 ing abilities are beyond question
 The stock market however is ,i'
 evitabty influenced by Fne sonls- what unsatisfactory conditions Of home trade, bu the delay of tn- Tobacco and oil decisions. aad rs uncertainty as 10 what action vi. be taken by the Interstate Commerce Commission in regard to an adyance in railroad rates. As soon as these questions are out of the way ths stock market should exhibit increas ed activity. While an early decision from the Supreme Court is highly desirable there would seem 10 be no occasion for special uneaslnes. regarding the outcome of these cases. Should the decisions on To bacco and Oil be unfavorable no great harm would result. The produc- ton and consumption of oil, tohaece and all other products would go on as before: only the forms of organ ization would be changed. The wor'f that could happen would be tse temporary inconvenience of reorca5- ization. which in all prohabili'r - been thoroughly anticipated by the concerns likely to be affected. It
 should not be forgotten that the