The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-12-11
A BUSINESS REVIEW OF THE
PAST WEEK BY HENRY CLEWS

For the time being the sentiment of
the street has turned bearish and
prices generally have receded, largely
due to recent extensive profit-taking
and bear attacks. The unfavorable
feature which led this movement was
the collapse of the Wabash shares,
the worst of which has probably heen
| seen now that plans are under way
for the reorganization of the Wabash
Railroad company. The opening of
congress naturally induced more or
less hesitation. This was not so much
due to any discouraging features as to
the absence of stimulating develop
! ments. The Presidents various mes
ages contained nothing new, simply
| reiterating his we'll known position on
! public questions. A great deal Of in
terest centers about the report of the
| Hadley Railroad Commission, which
it is hoped will be thoroughly con-
| sentative and entirely free of disturb
| anywhere it is regarding the attitude
OF congress. In all probability this
being a Presidential year there will
be superabundance of political fire
| works. Many radical and threaten
ing measures will very probably be
| introduced purely for political effect.
| Timid souls, of course, will tremble.
The majority in the House represents
one side of politics and the senate the
ment can be expected through Presi-
dent Taft, who has opinions of his
own upon the questions of the day;
also abundant courage to veto any
radical or destructive legislation.
Therefore, it is unnecessary to be UNI
duly alarmed as to what congress real
ly will do. Far more harm is likely
to come from what congress will not
do. There is practically no chance
whatever for any currency reform
measure, and the advocates of the Ma
tional Reserve System have probably
abandoned the fight for this season
because instead of intelligent discus
sion the politicians will again appeal
to popular prejudice by agitation
against the bugaboo of a banking
trust" How little foundation there
III SuCA Tain iS SCcA ny Tic Gil
nual report of the Comptroller, which
shows that about one-half of the bank
capital of the United States, or ST.
O19 100000 is invested in the national
banks. Only Is per cent of this sum
is invested in banks of $5,OO0,O0O CAPT.
tai and over, and only % per cent in
banks having between 100000 and
81. 900 900 capital
The money situation attracts more
attention with approach of the year.
enc. Short-date money is firmer here,
and in London rates are advancing.
Rumors of an advance in the bank rate
are in circulation, but at present these
are premature. January disburse-
ments will aggregate over 5000, 100000.
Bank reserves have fallen below the
legal requirements, but this causes
no uneasiness because of our large
credits abroad, and the fact that cur
rency will return freely from the in
terror after the middle of January. A
temporary stiffening Of rates inciden-
tai to preparation for interest and divi-
dend payments of January first need
cause no surprise. Investment de-
mands will be pretty sure to improve
early in the new year. There is no
doubt that large sums of idle money
are awaiting employment and have