The Washington times., 1912-04-07
IN LOCAL FINANCIAL CIRCLES
BY I. A. FLEMING.

As =
1t has been a case OF much ado about
nothing long enough.
During the past two years the business
interests OF the country have been al
most pardlyzed, scared into spasms by
the Sherman law.
Great manufacturing corporations ex-
pected disaster; jobbing houses restrict
ed their buying orders and the retailers,
not knowing what the outcome would
be, purchased only as the consumers
demands justified. The wheels of in
dustry were clogged; railroads suffered.
interests represented by tho general
term, Big Business" moved as I'm a
trance.
Sentiment has changed. The dread
Sherman law has ceased to be a men
ace. big Business" has decided to 60
ahead, having reached the conclusicr
that the Sherman law was not half rs
potent in It's restraining powers as II
was given credit for being
When the Standard Oil Company was
forced TO dissolve" fear was cx-
pressed as to the outcome. The shares
of the various integral companies into
which the great Rockefeller corpora
ton dissolved, have market value to-
day by $500 a share greater than the
old Standard Oil stock.
American Tobacco entities have at
least 5000 share greater value in the
aggregate than did the old Tobacco
stock. ...
The acquittal Of the Beef barons
probably pulled the last fang from the
dread law, and big Business to wit,
the great commercial and manufacture
Ing interests of this country, have
awakened to realize that 1t was but an
other case of much ado about moth
ing" Hence the general revival of
trade and commerce ..
Moreover, big Business has ceased
20 become affrighted on the eve of a
PRESIDENTIAL election and in the heat OF
an aggressive campaign.
For years the dread of the quad
rennial campaign has disturbed busi-
ness equilibrium-made II stand still and
wait, trembling with dread at the out
come. And nothing happened.
Big Business" has come to the con-
clusion that everything is all right: that
no matter how progressive the success
enforced by the Constitution and the
Supreme Court of the United States
Will of necessity make the President
conservative.
fidence is seen in the starting up of fac
tories, the reduction OF the idle cars on
track, the demand for new cars and
thousands of them; the Jobber is PROS
OF trade. and progress and prosperity
are again keeping step over the United
States.
Here's another brew of confidence,
more daring. with no apologies TO Mr..
Kaufman.
Confidence is the cornerstone, the key
a. nn n md hn Gf apTntn 81 0f
Without 1t no structure. no career.
rises above the skyline Of mediocrity.
Ability galore cannot supplant 1t. Av-
erage brains, plus confidence, is a bet
dynamo ever harnessed.
Mere conception of big things creates
nothing. Conception and confidence to-
gether have revolutionized the world.
BE sure you are right. then go
ahead" the last three-eighths of this
old proverb is more vital as the first
I five-eighths.
Being right and standing still is
policeman's job.
Being right and going ahead, having
confidence, inspires the laurel to work
OF success. Go ahead. have confidence,
and the world breaks into step with
you.
Falter. but for a moment. and you are
Hike unto Liza on the ice with the hot
breath Of bloodhounds in her back
hair. But go ahead, have confidence,
and the ice will harden under your feet
and the going will be the swifter as
safety increases. Never mind the scare.
confidence has been tried and not found
wanting. You win!
Business. financial business. thrives
on confidence, the confidence of the pub
lie in the man at the head OF the
directors table.
No corporation ever succeeds beyond
the limits of the public confidence in its
personnel Every act that is approved
hRRatS friends business
Recklessness or too much initiative
and too little referendum, begets sus-
picion.
There are whisperings in the market
places which inspire a bolder strike in
the hope of winning fresh applause.
But mere applause will not do, II
may be expressing encouragement