The Washington herald., 1912-03-13
WALL STREET NEWS
Bulls and Bears Enjoy Spectacle Of
Congress Going After the
Baseball Trust.
By THOMAS c. sHoTwELL.

New York, March 12.-Nothing else
happened so it must have been the
solemn, resolution introduced in Congress
TO investigate the baseball trust that
caused the recovery in the stock market
to-day. Congress is proving its ability to
do big things in a big way. Kings and
smperors and jack rabbits must be
thrilled with this exhibition OF high pur-
pose on the part Of the American Con-
yress where Henry Clay and Daniel Web
ster once debated. Every true patriot
will tremble with awe as that iniquitous
trust is hailed to justice.
The wrecthes who come from Philadel-
phia to New York, steal bases and knock
the ball beyond the rule OF reason. actu-
ally crossing the State lines with shame
less faces as they travel East with this
purpose in view, are clearly criminal.
They must be made 10 taste the bitter
ness Of success.
Spectacle for the Gods.
Stock Of the baseball clubs will be put
as high as Standard OIL If necessary to
vindicate the noble statesmen who have
become piffiicated with power. The rail-
roads have been made to regret the day
they cut on passes from the politicians
and now the baseball magnates will be
reminded OF a similar oversight 1t is
no wonder decent business men and bank
ers are trying to forget that Congress is
: in session and have started in for a good
years work.
The baseball investigation overshadow-
ed everything, but some attention was
paid to reports that the British coal
strike was well on the way to settlement
1t was also stated in high quarters that
the American operators would make an
offer to the miners, which. II is believed,
will avert a strike here. The operators
are more anxious to get a long term
contract than to save a few cents a day.
They want assured peace at a fair price.
They believe the men will be glad to ac-
Cept the terms that will be proposed.
New York Central was watched be-
cause Of the announcement that W. K.
Vanderbilt has been working so hard he
is compelled to go TO Europe for a rest.
II can be stated confidentially that Mr..
Vanderbilt is not entirely exhausted. But
he has whipped the system into much
better shape and has the financial plan
ready for announcement at any time
things look right.
Patent Decision of Intcrest.
Another feature of strength was the
decision rendered the previous day by
the Supreme Court uphvi1Ing the decision
of President Taft as a circuit Judge that
the man who gets a patent can control
that patent in the hands of its purchasers.
There has been considerable outcry over
this decision, but such is the law and
this, the first Supreme Court decision on
The point at issue, may force Congress
10 reform the patent laws.
As in the Sherman law, the Supreme
Court is not to blame. If the people do
not like it they have nothing TO do but
change the law. and the Supreme Court
will follow the law. The power to recall
decisions has always existed, being in the
shape i'm the power to repeal laws. Like
most of the other new" things the poll
ticians are trying 10 palm of on an un-
sUspecttng public the power to recall de-
cisiOns is contained in the Constitution.
United States Rubber, Telephone. and
Western Union were high-class invest
nent issues that displayed strength.