Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-01-30

wears considered one or the strongest
In the country, has been brought TO
the verge OF difficulty by the attempt
to- establish n practical monopoly Of
transportation throughout New Eng
land. paying eXtravagant prices for
competing propertici and finding IT.
self saddied vita rundown proper
ties having indifferent earning capac-
ity The Steel securities were
also affected adversely by in
yostlgations az Washington which
tended TO show that the company had
been taking excessive profits. Little
concern Is shown about the tarifi. the
company being practically independ'
ent OF protection. The house may
favor the new bill, but the action OF
the senate and the president Is un-
certain. The reports OF n slackening
In demand for iron and steel products
also tended to weaken values. Alto-
gether the stock market wore a some
what uncertain appearance.
Money continues remarkably easy;
IN fact, our principal markets are
glultod with idle funds Currency Is
flowing IN this direction 10 find at
least temporary employment, the re-
suit being exceedingly low rates for
call money Indications now point TO
gold exports al an early date either TO
! South America or foreign account or
/ 10 London direct More or less un-
easlness exists Ia Europe over the
/ International situation which Is COW
threatened by Italy's aggressive atti-
tnde, so that money rates are rola-
lively nrmer there than in New York.
Bankers here would welcome gold
eifllV af tAs line as icuiIns 20
( a,eal, 'he money market.
! General business continues yery
quiet Conditions are sound. but con-
ser,atsm and rct-enchment prevail
IN nearly every direction II seems
TO be generally accepted that there
viii he no fresh forward movement
until the outcome OF the tariff and the
next presidency. can be fOreseen.
There is perhaps less apprehension
regarding political conditions at Sesme
than was the case month ago, but
/ big business Is still much disturbed by
la continuance OF the Investigation
mania az Washington. which naturally
encourages strong undertone OF
/ hesitancy. Mercantile conditions in
the interior are fairly satisfactory.
The severe weather has somewhat in
terrupted railroad operations. and De-
cembor and January railroad returns
are likely TO be more ~ less unfavor-
able IN consequence.
Something Is needed to break the
present inertia IN the stock market.
So long as there Is no favorable news
10 lift prices 10 higher levels a down
ward reaction OF few points appears
desirable to stimulate fresh buying.
There are many wealthy institutions
with funds'fo investment also not a
few wealthy merchants with funds un-
employed who would be tempted while
business Is dull TO invest at least tenn
pnrarily In high class securities Ia
event OF a fair reaction. This latter
class OF buying Is really an important
element OF support In the market ana
largely accounts for the steadiBess OF
high grade securities AS prev 'ously
said. railroad properties Offer the best
Inducements to buyers at this time
for the reason that the railroads have
passed through the stress Of invcSt,'
CATION and legislative attack, ana are
now projected By the Interstate con-
merce commission against irrational
and unreasonable demands The in
dustrials are now going through sim
liar experiences 20 those which the
railroads had 10 face four or five years
Iago, and the outcome Of this agitation
Is yet TO be seen.
HENRY CLEWS.