The Birmingham age-herald., 1912-06-23
MARKET PRESERVES ITS TEMPER WELL In Spite of Political Tumult
 of Week PRICES UNAFFECTED Wall Street Has Prepared Itself for Almost Anything That Might
 Happen During Next
 Three Months
By ". G. NICHOLAS

New York, June 22-The stock market would like awfully well if it could only really and effectively ignore politics. It has been trying hard to do this, and at times defuded itself into thinking it had succeeded. Tt can't be did" What 1t seems to have done, however, is to work itself into a condition of endurance and of patience to await the developments without going into fits as the show pro- ceeds. It even became feconciled to the possibility of MT. Roosevelt's nomination. either by peaceable means or y.force. It was prepared to accept me contingency of two republican tickets in the field, car rying with it the strong possibility of Democratic victory in the fall.
 Any or all of these things were possl- bilities that had become familiar in Wal Street and were discussed with interest but not perturbation. The programme of equanimity has at no time, however, ae- cepted the possibility of a continued tumult lasting through the next period of three or four months. Fireworks and dynamite and all the accompanying tum- ut are things which cannot be looked forward to with either caamness or pa- tience, although the element of fear might not take exaggerated form. The theory of teaching political and social revolution with sword, bludgeon and boot, does not appeal. It might have done in the dayssof Mahomet. when it was quite the thing to instill the spirit of grace into people by cutting their heads off, but
 T. Tor, fa Q tant theory of the uplift.
 It has been something in that spirit that Wall street and the stock market have been watching the strange developments in Chicago this week. The country has become accustomed to giving excitable people freedom to work off steam by using extravagant language, but it Is new experience for a great element to be led along those lines by commanding character backed by the check books or multi-millionaires, who stand Tor the highest ideals of government and of order in the administration of affairs. The problem before Wall street, as before the whole country, has been as to the extent to which violence and brainstorm- ing would be permitted to take the place
 
 methods have for so long prevailed.
 The strange feature has been the calm ness with which the great financial inter- ests have been watching and weighing the events of the present week and the month preceding, while the storm was gathering It was as though the whole startling demonstration was merely a peace of stage play-wnich would be al- lowed to run along so far and then stopped if it did not come to an end nat urally, from sheer exhaustion or return of sanity and sense. The people of this nation, viewed as whole, form a grCt organization of property owners. A great majority of voters either have property, or their personal interests lie with those who are owners and producers of valueS the great solvent majority. There is deep seated belief that no revolt against society can be big enough to actually en- danger the structure itself. It is mani festation of quiet courage and confidence in the power of the people to protect it may, although it may be led by the personal idol of a great many volatile fol- lowers This view does not by any means mean indifference or blindness to the situation. It means underlying faith in the stability of our institutions, and utter disbelief in the ability of any man or faction to seriously endanger goverp- ment or property. Because of the quiet that prevails, it will not do to get the mo- tion that the prevailing spirit is one of indifference or callousness, for such is not. the case,