Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-12-01

turned the corner and are now nov
/ ING ferward 10 better conditions. Tar
I'm uncertainties are the chief OBJ
staclea at the moment. but these VIII
\ soon come 80 for adjustment and the
probabilities are that no very inluf.
| ions changes will be made In any OF
these schedules. II IL only where cH.
cesslve protection has been enjoyed
4 that sharp cuts are likely to be made.
There "a also better sentiment ~
banking circles as revealed By the az.
tlfnde OF our financial leaders toward
| the stock market and In their prep
arntions Tor The placement OF new
security issues. We are now an
lproachlng tho largest dividend sea
son when the demand from investors
Is always counted upon In advance az
q strengthening element. II " wor'
thy OF particular attention that dlvl-
dends ON both railroads and indus
trials have been we'll maintained In
spite OF recent business depression.
This result has been largely obtained
through economy and the postpone
incnt OF many renewals and repairs.
The railroads have Jared better dur
ling the latter half of the year than
lsxpectcd. aud are now beginning 10
show better gross earnings. There
| has been no important diminution OF
traffic. ms some tiinid managers pre-
ldlcted, and with better net rcsnlts
There n every reason Tor Increased
cuufidencc In railroad shares pariicu,
linrly those .of the higher grade. The
cheaper lsknes, however. viii Oi
course show the Most marked recov-
rry. for the reason that they we're
the chief suf&scyt ffoinathc fears and
aissurbaases which are now paastnl'
away
There II also much better polite
al situation. A week hence congress
lwlli open and the country must be
prepared for shocks from proposed
radical legislation. Tine presidential
cEipniEn hes been prematarely be-
run II u fnfriy under way, Sensn'
tlonai attacks must be expected for
political eject They should be re-
rarded. however, with reserve and q
fecollecsion OF the tact that the con
seryalive element eafcn rests IN the
background unit, tho finel struggle,
when II usually asserts ita SOLDERING
Influence. Recent events show a
wholesome change In public opinion
from extreme radlcaiIam and IRA
ltl0nal prOgrrsslvlann The people are
Retiing tired OF nfilA<IOn. aud there
a less danger toslaybf extreme 30.
Eiltical acilon than ~ amy time for
many years. This IN largely because
the antitrust crusAde has passed the
lcrisis. The worst WA known last
snipmee when the supreme court de-.
cisiona we're issued concerning the
standard OIL aud Tobacco eases.
! Nlnce then blg busiueaB has boon
slowly recovering !, confidence. 81
though often soriousIy disp,eased and
diseomilted by interference with for
liner plans and methods. An TINT r.
necessary now IL for busincss 10 al.
bust Itself 10 the clear viii OF tho
people which Is TO hcep open the door
81 opportunity. We may have TO
paEs through q period Of reconsiruc.
tion In legIulasion affecting corpora.
lions. This unfortunately means
more or less uncertainty. Al the
momeni the air is thick with vision.
larry proposals. and there are no iadl,
cell0nn az the moment Of what d.
Erection new icginiafion WIN take. A
Icourse OF hearings IL -nw going nn
before the senate committee a.
Washington. hut no line can SET b.
.fahen upon It's pr0bahin ilndinHs
After all. VIZ had better iet tho shef.
man law alone, and try Il out thor
louahly before any changes arc at.
tempted. New Liquidation viii only
| Increase confusion and throw away
AL The work Of the supreme court N
| reading reason and Justice 10 the law
| eE II now stands. The country has
. probably been saved BY this HheEman
Law from political and social up
heasnl which would surely have Aol-
loved at NO distant date under a fur.
Their concentration OF capital and
monopoly. The gravity OF The danger
which we have escaped u not snlil.
clenlly appreciated. and for thls tho
country should be- desouiiY grateful
TO sack rcIsenl OF that Law n absD.
iuitiy futile. Another encouraging
probability Is that ways win De found
Tor biz business TO continue III bene-
iiniont operations without CONFLICTING
with public Interest and without any
|inlafioua effects 20 hnalheaa interests
snrtheF than the Temporary inconFenl.
encc of feadiusilnn itself 20 new leanl
conditions 30 fnr ~ pniltieai ele'
mcnsn are concerned. the onli0ok IN
the long run h disflnctit brighter.
and nothing more serious than tenn.
pomfy eetbacke may be Anticipated
on the news from Washington.
Finally, We have . better foreign
situation, better lnvrsimeni condI.
iluna. better bond market, aagis.
Factory Ksonetary outlook. and hNttrf
fppIief conditions. al of which must
4tna toward return and csysiklIsn,l
tim 81 confidence. The ONLY reaction.