The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-04-20
Formerly Conditions Were Re-
Elected in Stock Market.
LARGE INVESTMENTS MADE
Both Domestic and Foreign
Capital ForegO Timidness.
North, South and West Are
Prosperous, Holland Says.

4
so far business has given to this ag1-
tation only the interest of an observer,
not much more than passing interest
! OF course, the recent demonstration
| that Col. Roosevelt maintains no small
! part of the personal influence he pos
! sessed when president is subject
! much discussed in counting houses and
at the clubs where business men meet
! in the evening There is also much
! conjecture as to the way in which
Democratic presidential politics will be
shaped before the meeting of the dele
gates at the national convention at
| Baltimore.
few years ago such a demonstra-
! ton as was recently made at the pr1-
marfes in Illinois and Saturday last
( in Pennsylvania would undoubtedly
have affected the securities market. 1t
might have caused either consider
able appreciation or considerable de-
| probation of prices, but the effect
| would be shown one way or the other
! in market quotations. 1t may be that
| later the market may show that it has
been affected by presidential politics,
| but up to this time these political ac-
| tivities have been scarcely echoed in
| the securities market
Apparently presidential politics has
had no effect upon general business.
| The reports that come to New York
| from all parts of the country continue
to be encouraging. Our export trade is
not impaired. The United States Steel
corporation reports exports of
hundred thousand tons of steel in the
month of March. The United States
continues to be regarded as the best
money market in the world at the pres
| ent time. Railway companies all over
| the country are preparing for consider
| able financing, expecting to use the
funds thus obtained in enlargements,
| improvements and the lettering of ter
| minal facilities. At present ali the in
| dications point to a somewhat exciting
! presidential campaign distinguished by
some peculiarities and eccentricities
and yet carried on side by side with a
constant, although possibly gradual
! increase in business activities
In this city this situation is explained
by the statement that the people of the
United States are confident that what
ever the developments in national poll
tics may be general business is not to
be affected unfavorably.
From the south there continue to
come authentic reports of very large
investments in undertakings which
have for their object the development
of the resources of the south. Hundreds
of millions of both English and Ameri-
can capital are soon to be invested in
the development of water power in the
south IN such manner as to convert
this power into electric energy
The English Investments.
For some days several men of finan-
cial influence in Great Britain have
been visiting their business friends in
| this city and have talked with much
freedom to them Of the peculiar condi-
tions which prevail now in Great
Britain with respect to the investment
of British capital.
One of the subjects these men have
discussed is the amazing outpouring of
English capital into Canada. At the
present time Canada-and especially
British North America seems to be the
| favorite investment field for English
capital, and almost any proposition
brought to London from Canada by
men of reputable business standing Is
| sure to receive favorable attention. Vet
some of the leading bankers Of Great
Britain are wondering whether English
| capital is not over forcing or stimulat-
| ing Canadian developments. These men
are beginning to speak in words of eau
ton about further large investments
| In Canada The caution appears TO
pass unheeded
What Is the Reason?
| The reason for this great investment
| of British capital in Canada and in
other parts of the world was said by
these authorities to be, first, the lack
of any opportunity for investment
upon large scale in Great Britain
No great undertakings are now under
way in the United Kingdom and, so
far as is known, none is contemplated
In the next place, British capital is
becoming a little distrustful about con
ditions in Great Britain. Apprehension
of triumphant socialism or radical
ism prevails. The disposition has
therefore been very strong with men
or corporations controlling large cap
| itaI to make investments of it in other
parts of the world.
This statement seems almost para
| doxical in view of the fact that Great
Britain'S international trade in the
year 1911 made practically a new rec
ord. The pre-eminence of Great Brit
in as an exporter of manufa curing
commodities is not yet seriously
| threatened No satisfactory explana-
| ton of this apparent paradox was
/ given by the Englishmen now in this
1 city to their friends here. The best
( they could do was to say that English
capital in very large amounts was
going to other parts of the world
while, at the same time. the English
/ manufacturers still are pre- eminent in
! the markets of the world.
It said that the pro bal ility is
strong that if there be a great revival
of American business activity large
| amounts of British capital will be in
vested in the United States By in
veStment these men meant not the
| loaning of money upon American Sc
curities but the purchase and develop
| ment of American resources, especial
| ~ in the south
From the Pacific Slope
| Bankers in this city have recently
received communications from their
| friends from the Pacifis slope that
| everybody there, excepting a few
| demagogues, is absorbed in business
affairs. Probably there never was a
time when business activities along the
| Pacific slope of the United States were
as great they are at the present
! time. The public seems to take no
| great interest in presidential politics,
at least in the sense that political ac-
| tivities are paramount, business being
| secondary to them.
A Great Service.
1t is the belief of some of the bust
ness men of New York that the best