Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1911-04-25
WEEKLY FINANCIAL RESUME

The stock market received sharp
Jolt by the unexpected transfer OF
Missouri Pacitic's financial backing
from one influential banking interest
to another. The change was sudden,
and it's final consequences cannot yet
b, determined, but the probabilities
are that the new supporters of Mis-
souri, Poetic will seek Il thorough re-
Mobilization OF the property and avoid
friction as far rs possible with the
interests that have just severed con-
nsction with the Goulds.
On the Stock Exchange the much
desired activity still fails to materia-
lize. some marked stimulus or change
being necessary to overcome the hab.
itual inertia. Two important unccr-
tainties still overhangs the market:
the first in importance being the STU
preme Court decisions, which. when
announced. whether favorable or un-
favorable. will unquestionably slim
ulate- fresh activity. II favorable, a
sharp advance in prices may be con-
tidently expected: II unfavorablc there
will also be good buying of stocks
by those Who believe that n decision
of that character has been fully dis
counted. The next important source
of uncertainty Is the Mexican difficult
ty. While strong efforts are being
made to restore peace in Mexico and
to avoid intervention--there Is no
doubt that the most serious elements
in the outlook are being concealed.
and that the situation is still highly
intlammable. This country has no
right to intervene beyond the border
OF our own territory. For damages
done We may exact indemnity. and
We have no right to armed invasion
without the authority Of congress.
which. II obtained. would amount to
u declaration OF war. President Taft
Is wisely doing his utmost to avert
trouble in Mexico: yet the gravity Of
the situation is emphasized by the fact
that his action in massing troops ON
the border, which was at one time
somewhat questions. is now fully JUS
titled. The presidents manifest dis
position to throw responsibility for
any unusual action upon congress is
also suggestive Of serious RESPONSE
bilities. In some respects the situ-
alton is analogous to that which pre-
vailed in Cuba before the Spanish
American war: the American view
that it cannot tolerate perpetual dis
quiet near its own borders being an
important factor in determining our
future course OF action. In any case.
trouble with Mexico would not be Il
very serious matter for the United
States or to Wall street. provided un-
forseen international complications
did not ensue.
General business in the United
States continues in an unsatisfactory
condition. Commodity prices are gem
orally declining. The volume OF trade
Is less than a year ago. and many en-
terprises are held in suspense pend.
ing more favorable general conditions.
ncertainty regarding the supreme
court decisions and the tariff are
largely responsible for this state of
affairs, Concerning the tariff. there
is perhaps more apprehension than
is warranted. The three schedules
most likely TO be affected-cotton.
wool and steel-have not yet been at
tackled. and both parties show dis
position to handle them cautiously. If
NOT to postpone action altogether I'M
til the next presidential campaign.
The tariff. II must be remembered. ~
ways furnishes exceptional material
for political agitation, and practical
politicians may easily consider it
zoo. tactics to put public opinion to