New-York tribune., 1912-03-31
BROKERS NOTICE A CHANGE
]. S. Bache & Co. Find West Has
More Faith in Wall Street.

In their weekly stock market review J. 8.
Bache & Co say, In part
II is "A question whether the sentiment
throughout the country in regard to Wall
Street is not slowly changing for the bet
ter. This is due perhaps to the broader
education the West is receiving as the
country grows, by reason Of the contact
with the fnancicrs and capitalists of the
East which the Western leaders Of prog
ress have had In the last few years In their
operations for the upbuilding Of great en-
terprises The Western men have found
that the people they have come here to
sec are not so different from themselves,
that they have been met half way and
that the interest Of the Eastern capitalist
has been to make a success of whatever
was undertakcn-all Of which involved eau
ton and conservatism. And these very
methods Of the East have appealed to the
Western men, and I'm conjunction with the
latter's energy and aggressiveness many
large enterprises have been carried TO sue
cessful completion The fact is that wall
Street and by this is meant the great
aggregation of Eastern capital and brains,
H. a very large owner OF all the most i'm
portant enterprises Of the whole country.
For instance, in the ownership OF the stock
Cf the Steel Corporation. which Is a gem
eral index for the whole, II is estimated
that the amount Of steel common In the
Wall Street district alone Is two million
shares. The Wall Street interest then, even
from a selfish point Of view Is TO see that
the enterprises are made successful and
kept thus And this works for the best
good OF all those parts OF the country where
the operations are located
The people of the West are part owners In
these institutions and corporations Whicn
are thus being carried on, and as the West
becomes richer and richer, this ownership
becomes larger To wipe out all prejudices
there Is no panacea Ike publicity. The
still SOW that swallows all the swill is the
object Of the cOuceNratcd hatred Of its
fellows: and Il must be admitted that for
some years the fashion was to conceal and
10 proceed stealthily and mvsteriously lick
ing up all the dollars I'm sight without re-
gard to the feelings or the rights OF fellow
men The time has gone by when these
methods can be pursued without the great
est danger and ultimate confusion. The
warning signals are flying and the guns
have been booming for two or three years
Of the utmost frankncss and publicity In
conducting the affairs Of great corpora
tions Those who do not heed the signals
are inviting destruction.
The outlook ~ general business con
tinUes good. Improvement taking advantage
Of tho advancing spring. Iron and steel.
dTygoods woolens. leather hides and lum-
Der all record continued Improvement Tho
priCcs for copper are steadily ascending.
Railroad gross earnings show an Increase
for the three weeks OF March over last
year Bank clearings continue TO mount
both outside Of New York city and heavily
tions The strike situation. OF course, has
its unfavorahle influences.
The stock market having done its share
In recording the better outlook for the fut-
urc of general business. Is now entitled to
a rest