The Washington times., 1911-03-12
All Our Funeral At Once

I judgment. and it believes the Centra
property Is the better for the tardy cor
rection
All Our Funeral At Once.
Quite naturally the reduction Of tn,
Central dividend is associated with tn,
decision of the Commerce Commission
in denying the freight rate advances
and 1t Is believed that this. with the
large increase in operating cost showr
by the Pennsylvania railroad recently
will have the natural tendency of max,
ing investors cautious and discriminat.
ing in buying securities, but influential
interests are not taking a gloomy view
of the freight rate matter. In fact, the
opinion that the outcome will be high
ly beneficial in influencing economical
management on the part Of corpora
tions and in correcting the labor situa-
tlon is growing in favor. That en-
forced economy on the part of the COR
poratlons may contribute somewhat to
quiet business is admitted, but the ar
gument that this Is likely to retard
industrial revival has lost some of its
special force, in consequence of the
greater influence in that direction aris-
ing from the special session of Con-
gress.
Concerning this matter leading Wall
street bankers have become quite phiIo-
sophical. I'VE may as well have all our
funerals at once-rates, tariff revision.
ana industrial trust decisions" he said.
1t Is better to have d general burial
now than TO spread the obsequies over
many months" That this voices a
general sentiment is unQuestionably
true, for, now that Wall street has
made up its mind that there can be no
general public market until the Supreme
Court has rendered its decisions in the
Standard Oil and American Tobacco
Company cases. and, as 1t has decided
also that the readjUstment is destined
to be thorough it is better pleased than
not to have all the chief disturbances
come together, that they may be gotten
rid of the quicker ard clear the way for
healthful economy later on.
Few persons whose opinions count for
much look for anything but a waiting
stock, market until the industrial trust
cases and the revision of the wool and
cotton schedules are out of the way, but
with money easy and destined to con-
unue so, and with stocks in very strong
hands, II Is not thought that prices are
likely to experience any decided reac-
ton. Even in the event OF an adverse
Supreme Court decision or further divi-
1end reductions. the opinion prevails
that stocks are not likely to change ex-
tensively, because prices, comparing
prevailing dividend yield with interest
rates, are not high; because securities
are closely held. and because there is
no wide expansion OF stock exchange
loans of an overextended public in
Wall Street.
In the meanwhile, general business is
upon a conservative basis,
and this, so far as the textile industry
is concerned, has been somewhat acCen-
,uated during the week. as the direct
result of calling the special session of
Congress, which bears peculiarly hard
upon woOlen and cotton manufacturers,
whose schedules come up for revision.
The basic and barometric industry of
ron and steel, however, shows further
Pig iron production in
,reaseI about 5000 tons in February
over the January total OF 1,759, ,326 tons,
and the February bookings Of the Steel
Corporation Increased 2S9,624 tons over
Steel orders on hand on Feb