The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-11
D|nG BANKERS
WITHOUT OPINION
- rMPoRrAxT THINGS TO &C.
" x;uR, WHICH NAY EFFECT
THE MARKET.
'EELING IS SECURE
EnOPEAN WAR SITUATION AND
LOCAL INDUSTRIES POINT
TO A CONTINUATION OF
PROSPERITY.
THOMAS G sHoTwEI.L.

YORK. Ncv. 1o.--Fhe sur
.s.inr increase of untitled orders on
&SN hooks of the United states Steei
amounting to 1,oaZ'o'+
~ for the month OF October TO-
ether with the record large earn
n of the railroads for that MONTH
Enake real investors feel safe. but suCn
TSfnrs cannot control the fluctuations
~ The market which seems at inc
nnent to be under the influence OF
Naifics ar home and abroad To
(eater degree than before election
m regard to the immediate future
fhe stock market the leading bank
IT Of Wall Street are as nearly WIFI
Nf opinion as IL IS possible TO pc
Hey express absolute confidence III
re future, but so many things are
7Snnf to happen In Europe ana
nerica. that they prefer to reserve
70xment for the time being inc
nfktsh war is to be settled and the
1preme court is to hand down al
- three extremely important
3nions, and President Elect Wilson
Ito select his cabinet Therefore,
N professionals expect n trading
afket for period with an upward
dency.
Speculate on Cabinet
JrfIscn's cabinet liz considered of
Importance because the whole finan-
Inl world lis in terror 81 Bryan. Bran
no and Burleson. With Bryan as
M secretary of state. Brandeis as
ttcxney- and Burlcson as sec
6<ary of the interior. Wall street be-
eges that before many months the
otton Exchange would be colsed,
atIroads would be in bankruptcy,
4 t.rrx
6mplications Mr.. Wilson has re-
rAed To express any opinion regard
6g the probability of these three men
icing In his cabinet, and the sub
tant.al interests of Wall Street do
~ believe that any of them will be
Mere. However. they have all done
GFyice and expect rewards that make
hem possibilities in the eyes of specu-
fxnrS a'7o-'. s. t'@'-.''>- = +'''7'' =
Three great decisions are expected
rom the Supreme court tomorrow.
M they may not come. The most
Important OF these is the Minnesota
nle case. The lower court decided
MI the railroads Of Minnesota might
Barge rates large enough TO return
per cent Of the value or their prop
6ty. This would provide dividends,
md enable them to earn enough to
bfGsements
M In the Balkan situations the de-
SDeIopment have been So surprising
E4hat nobody cares to utter an opinion
10 tn the final outcome. Public state
s5aaerts of political authorities in Eu-
Ef0ps and private statements of banks,
EA0weyer. are reassuring TO investors
S0x the United States Europe has
EMOld about all the stocks that will be
|~pld. unless there is general war.
ghich seems improbable Just now.
The American cotton crop is going
EAbroad 81 bale above the figures of
hast year. and all kinds Of grain and
are moving across the
Eprean IN unprecedented volume. Eu-
rope will soon realize that America Is
the safest place in the world to put
money. and stocks will be
Etfaveiing eastward again as well as
The result will be cheap
Encney for the United States. High
&1noney rates. however. must be ex-
kpected till January. for the country
3 IA now in the midst of the heaviest
epf the crop moving.
n In one respect. however the Arerf-
IAN people must make IN their minda
M b. disappointed. There is no such
IN thing as the high cost Of living
M few things. such rs meat, have
Ek0ne UP in price, aat taking the aver
Hnke cost of living, ii VIII be found
thai wages ani !. comes have IN.
#ereascd In proportion. The reai
xroJhle Is that tbs general public
<as feen edu@atea to such a high
E&e<ree that II appreciates more than
III did twenty or even ten years az,
ehow well off the rich people really
&ura.
Persons in moderate circumstances
mr. row unconsciously becoming ex.
HfrayA CANT The working man who
Exot 81 day twenty years ago. and
EEho ~ now receiving So day, lis get
etlng more for his 50 than he got FOR
IRIS ~. but the unfortunate fact that
his eyes haEa- haaa-apened to the
EFeal pleasures Of being rich has made
E5ttsss feet that he is NOT living as well
AE he did when he got only the dol
Ar. The greatest crime committed
Eny professional politicians liz telling
the people that the cost of living can
SDe reduced They know it cannot be
ESeduced. and they know why, and
fhey have laid up trouble for them
SNelres by promising TO reduce II.