The Washington herald., 1912-11-17
b. i. A. FLEMINe.

but stocks were decidedly irregular.
There were some gains, but the declines
outnumbered more than two to one OF
the advances. Most Of the latter were
In rails, and the majority of the losses
were sustained in industrials.
1t was a commentary In a measure, on
the opinion of investors on the possibili-
ties of revision carried out under the
revenue only basis. and part Of the story,
told by the markets action, was the
fact that the position of the Steel Cor
poration is believed to be next door TO
impregnable.
The strong position of the company,
its immense cash assets, orders ahead,
and preparedness for the situation that
will, in all probability, develop, was evil
dent to bulls and bears alike. The bears
pound II, but 1t comes back with resil-
iency, and usually hurts the little bears.
There is little possibility of any tariff
legislation becoming effective for year
at least; the summer may wane with dis
cussion. and in the end, action. but en-
forcement will be in the closing months
of 1913 or the opening days Of 1914.
But the discussion, the arguments pro
and cor the schedules as they come up,
will be matter sufficient TO create eau
tion. Once the date for lower tariffs is
finally settled, will come measure OF
productive curtailment that will show a
pause in industry.
Wall Street knows it now-it discounts
everything. 1t knew on Friday afternoon
that President-elect Wilson had decided
to summon Congress in special session
carly after his induction into ONCE.
And the answer thereto was the break
of I-2 to 21-2 and points in the indus
trial list-the secondary line Of indus
trials, as shown by the table of losses
elsewhere on this page.
Just at present industry keeps up the
pace, and splendid one.
But if raw materials are to be reduced
the manufacturer Will stock up no fur
ther ahead than the disposal Of his prod
Uct on present cost scale is assured.
Values for food products continue to
rise save on the markets of the world
where grains are lower, but provisions.
the chief source of the high cost of liv-
ing complaint. continue to soar. Pork
rose l0al5 cents a barrel and the live
stock prices show no signs Of receding,
Reduction in the cost of living will be
the hardest problem that a President OF
the United States ever undertook to solve.
Diminished production and expanded
home demand have made for higher
prices. Cold storage space is at dis
count because the material for storing is
missing, especially beef and beef prod
ucts.
The Breeders Gazette, periodical of
large circulation and of high standing,
las this to say anent the high cost OF liv-
ing:
What is to be done about it so far as
the farmer is concerned? Is he going
forthwith to quadruple his product, his
output of necessities of farm origin in or
der that consumers may buy them at the
cid scale of prices?
Not if he can avoid it. From his
standpoint. the prices he now receives for
his produce are not unreAsonably high.
II is fact that until within a few years
his products sold at comparatively. low
prices.
THE old. law of supply and demand
aided by the enormous output of gold in
rtcent years, and representing the wide
difference between the number Of produc-
ers and consumers has turned things so
tnat many progressive farmers have de-
cent homes in which to live and occasion
ally enjoy a spin on the road in automO-
t:les on public highways, the advance
guard Of a substantial rural American
citizenship.
The cost of reasonable living is not
cut Of plumb with the level of high wages
received by labor. The high cost of living
cannot be reduced by statute or states
men,
Further. and this is pat:
In all the stupid noise about the cost
of living the farmers have no direct in
terest.
They know that much of II is the
voice of people who are living beyond
their means and trying to maintain
standards built upon sundry luNurtes.'
VIII lowering the tariff reduce the cost
of living?
The ideal bank cashier has his oppo-
site. He may do many things just as
we'll as the former. but there are many
duties to be performed that he will leave
lndone; many things in the interest of
advancing the Banks popularity that he
will forget. and in the end thereof he
aids in the upbuilding of the opposition
concern up the street.
Courtesy is one of the unfatling assets
of the ideal cashier. There are none
more important in the upbuilding Of a
bank Courtesy wins like treatment;
courtesy inspires confidence; courtesy be-
gets courteous replies and extends the
range of ones personal friends wonder
fully.
1t makes a customer contented in his
banking relations, while discourtesy does
all that is opposite.
1t is sometimes netting to have TO
make explanations for action or inactiOn.
1t is hard to convince the honest man,
unfamiliar with banking methods, that
identification is necessary; twice as hard
to convince a woman, but the ideal
cashier must spend the time, and when
courtesy is self-evident it is just that
much easier to bring about an under
standing. -.
Courtesy should be forgotten only when
it is forgotten on the part OF the GUS
toner.
A bank is a busy place just before the
closing hour. Questions come to the
cashier in sequence. and quick action is
necessary. Nor is the closing hour the
only active hour OF the day.
The busy hour is the test of unfsiling
courtesy. If a cashier passes this test
he may take rank with the ideal II,
however, courtesy under the test is lack
Ing it will be the worse for the bank:
Some customers of banking institutions
know little of custom and frequently
have the idea that they are at least en-
titled to common courtesy, perhaps a
little more
The short shift cashier gives them
small comfort and away goes a small
account. perhaps. up the street, to be
followed a little later by some important
accounts of influential friends of the
dissatisfied customer.
The ideal bank cashier can never be
a crouch. Good nature is his long suit
A bank with a courteous cashier will
grow where one with a cashier lacking
in courtesy will stand stil or more
likely go backward.
On Wednesday Of this week the Wash
ington Stock Exchange will hold its