The Washington times., 1911-10-29

west, the control Of the Tennessee Coal
and Iron property. with Its ore bodies.
and the alleged price agreements grow.
are regarded as the features which may
tell most against the corporation In the
But. as against these features there
the Steel Corpora ton has always been
fair with its shareholders, its employees.
and Its competitors. 1t took conspicu-
or Suscs s. ss Sn1 S. sss Si It's
finances and It's operations have long
served as a model. Live and let live
has been Its policy with other concerns,
aR anS 4 from has nsSsr at
tempted to crush one. Oppressive meth
DDS as alleged against the Standard Oil
Company, and chicanery as charged
against the Tobacco trust, find no place
in the charges against the Steel Corpo-
ration, md It really is most unfortunate
that with a corporation In which the
good 30 largely outweighs any evil that
found to correct any violation Of an OBJ.
scure statute without seeking to rend
the great structure apart.
Cotton and General Industry.
with all attention centering upon the
Steel suit. the financial district at the
close Of tfe week appears to have lost
sight entirely of the fact that there
we're other developments during the in
terval, two Of which stand out among
all others. The first and, doubtless.
the most important happening Of the
week was the publication OF the off,
cial Government figures on cotton GIN
ming. which showed 7,74O.6 634 bales turned
out up to October Is. These are unpre-
cedented figures. and. OF course, while
not conclusive Of the final outcome, they
give a present indicated yield in excess
OF the last estimates and point to q
POSSIBLE crop Of 15,GNG.0U bales. Staple
cotton. though not materially affected
by the showing. hovers around ? cents
pound, and the assurance of abundant
cotton at moderate cost has had a
stimulating effect on the important tex
tile industry.
The other matter of primary import
anoe was the taking by Now York
bankers of S16.0o0.00o on six months
frussian treasury bills on q AZ pcr cent
abundance OF money in this country,
hut at the Same time the action speaks
eloq- emily II the slusgishness Of AFFAIRS
IL Or o ,nyesf
unusual surplus in domestic securities,
many Of which with perfect security
would return a higher net yield. The
usual ind,css of trade are variable, as
that while railway gross earnings are
holding their own and showing n slight
gain over 1910 ir The third week or Ott
Ter bank clcarances for the entire coun-
try are again making unfavora5ls COM
PARSONS, those OF the current week fall
ing Off per cent frcm 1870 and ISL per
cent with the same week in 1902.
Money Market Affairs.
Aside from the sharp advance in aterl-
ing exchange which carried the rate to
4.sil5. or approximately the gold ship
ping point. there wos no change In the
money market of the week. and collat-
teral lean brokers' reported an almost
entire absence OF borrowing demand. In
consequence OF this the bank statement
OF the day attracted little, II any. atten-
tion. 1t reflected. however, increases in
surplus reserve botf In the actual re-
fort and that made up of averages. hut
under the circumstances the financial
district viewed this more in the light oi
an emba rrassment Of riches than any.