Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-02-25
ADMIT GOOD DONE
Wall Street Concessions as to
Trust Prosecutions.
SMALL FRY CREATE FUSS
Effort to Make Sensation Of Pitney's
Nomination.
GOOD BUSINESS REPORTS
Large Sales Of Bonds by Big Bank
ing Houses-Rapid Rise to
Leadership.
By II. ALLoWAY.

in waiting mood, disinclined to join in
any activity, careless apparently of
whatsoever the fluctuations might be
Wall street has this week little market
and a weak one. On one or two days
prices fell substantially. some stocks de-
clining points at a time. Here and there
attention was given to representations
that the very foremost leaders in the
world of finance were in ill-natured
mood, disturbed over the political out
look and ready to merge their feelings
into an all around smash upon the stock
exchange. It required sturdy magma
ton to follow this line of argument They
who are making most ado over politics
are not really the important leaders in
Wall street, but rather are the hangers
on. the contingent that is forever trying
of the bigger ones. These lesser fry have
been exceedingly Industrious for months
past In declaring that the political out
look is such a handicap that our most
anxious-while the obvious fact, as over
and over again disclosed, Is that they
who genuinely are important are not
really bothering much about politics at
all.
They do not affect to be pleased with
the energy OF the governments Attor-
ney General-but in candid conversation
between man and man not one OF those
who are of the first caliber in finance
pretend at all to urge that what the gov
eminent has done in maintaining the
antitrust law has really done damage to
the investment interests of the country.
Some of them go even further-a good
deal further-not merely admitting, but
actually insisting that American corpora
ton methods, are all the better for the
purging they have received.
Pitney Used for Sensation.
Some curious efforts were made to in
woke Wall street sensation, when early
in the week came the announcement that
President Taft had nominated Chancellor
Pitney Of New Jersey to q seat in the
United States Supreme Court. 1t was
much proclaimed that the nomination
would provoke violent opposition from or
ganized labor; and there were predictions
that the nomination. would not be able to
command confirmation-being one more
contribution to the political chaos over
which Wall street ought to become exer-
ciSed.
And, however strange the fact may
seem, there We're not lacking spectators
who were willing to go into the market
and sell stocks short freely on the theory
that something bad had happened. Out
side Of a sanitarium this sort Of thing
would seem to be impossible. But for
successive days the oracles upon the
stock exchange made much Of the new
complication they had discovered. NAH
lon Pitney's judicial record has had moth
ing mysterious in it. Though hardly yet
passed the middle age. he has been recog-
nized in eastern courts as clear thinker
and straightforward expositor. He has
never dubbed over anything. He has
never been a fiatterer. 1t has not been
his habit to cultivate interests" of any
sort. And that Wall street should be in
vited to get into furry over the nat
ural recognition of his pre-eminence as a
jurist passes ordinary understanding. He
has simply stood all the time for the
square deal-and it is suggestive Of Wall
streets current stupOr that it Should try
to make speculative capital out of his call
to higher honorS.