Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-01-28
MARKET SLOWS UP
Is in "a Negative and Appre-
hensive State of Mind"
AROUSED By POLITICIANS
Financiers Accuse Them of Stupidity
and Malice.
STOCKS BARELY HOLD OWN
Bond Market Presents About the
Only Activity, and It Is Being
Worked to Limit.
AROUSED BY POLITICIANS
STOCKS BARELY HOLD OWN
BY w. g. NICHOLAS.


BY w. g. NICHOLAS.
NEW YORK, January 27.-The stock
market has again gone stale. AS Gov.
Woodrow Wilson put II, i'm his dcscrip-
ton OF the feeling OF business men with
whom he had conversed, the big interests
are in "a negative and apprehensivc state
OF mind" That puts the case exactly
with regard to the stock market situa-
ton. The sunshine seems to have been
extracted from the market and important
people are again resting on their oars.
and awaiting developments with lily con-
cealed Impotence bordering on anger.
They are irritated at what they be-
lieve to Be tho stupidity and malice Of the
politicians. and say that no permanent
return OF prosperity can be expected until
the agitators throughout the country dis
cover that they are hurting themselves
and their constituents in continually
hampering enterprise. Stock market
values remain practically stationary. with
an apparently growing tendency to reac-
ton. Buying incentive has seemingly
departed for everything except bonds.
and the banking interests are working
overtime to float new issues of corporate
obligations while capital is still inclined
that way.
The stock list barely holds its own, al
though in quite a number Of the standard
issues miscellaneous investors keep the
market fairly well cleaned UP. They are
looking to dividend returns, and as long
as they cannot earn income In general
business ventures, they are obliged to put
their money into securities. These in
vestments may DO temporary or per-
manent. depending on the course OF
events.
Wall Street Not Partisan.
Just now Wall street is deeply interest
ed in the factional fight in the republic
can party for the presidential nomina-
ton. 1t is looking forward with amuse-
ment, not unmixed with apprehension, to
the developments in the Roosevelt CAM
paign to stdetrack Mr.. Taft. and the
feeling is growing that whatever may be
the result as between the two men in
convention, the effect In November will
be favorable to the democratic ticket,
provided ono Is placed In nomination
which will command respect and con-
fidence.
Wall street Is mighty Indifferent at this
writing az TO which party wins at the
polls. A very decided change in senti-
ment may take place between now and
autumn. but at the present moment, the
street IL signally uncertain. although
very much interested. in the political
evolution.
The big men of Wall street and vicin-
ity feel that they are going to get the
worst OF 1t, whichever way the cat
jumps, and they cannot see that they
will benefit themselves by getting work
ed UP over which cat Is to do the
scratching. There is. however. deep-5eat-
ed distrust of Mr.. Roosevelt, and a quiet.
though general, expression OF the wish
that IL he. should be nominated. some
conservative man like Harmon will run
against and beat him in the voting.
They would like to see some such prop
osition tried out, and the public given
chance to voice its real views. Nobody
would be greatly surprised hereabouts II
tho democratic ticket We're to be Har-
mon and Hearst. Whatever may be Mr..
Hearsts expressions before the multi
tudes, there IL q feeling that no Is IN
reality Q very much safer man then ne
would have the unthinking crowd be-
lievo He il q very rich man. and has
wide diversity of substantial invest
ments whose success depends on pros
perity and permanency OF popular con-
fidencc.
Mild Interest in Tariff.
The market as yet only dimly feels the
effect OF the tariff agitation in Wash
ington. AZ tho debate on pending
schedules becomes warmer. and the
statesmen try to explain the meaning OF
the proposed cuts, traders and investors
will be very likely to wake up to the
possible consequences Of the proposed re-
stated that the steel corporation can get
along very nicely under absolute free
trade.
The independents, with almost as much
capital invested Is the steel trust. and
giving employment to as many men II
as well and that they will have to make
heavy sacrifices, either in income to
Or wages to employees As
this fact sinks into the understanding OF
can hardly fan to be damaging. Thus
far, the tartn iaSue has been practically
ignored as q market factor, although
there has undoubtedly been very ma
terial liquidation by important inside in
terests on that account.
Embarrassed by Friends.
Tho management Of the Consolidated
Gas Company Of New York - praying
that It might b relieved from tho emhar-
rassment Of too many friends. Fer q
few weeks past . gratuitous campaign
Of publicity has been going on in the
Wall street district. extoiiing tho merits
Of the property and advising everybody
what q wonderfully productive enterprise
It h. Tho campaign was rather enjoy
able for q time. but unfortunately, It at
tracted attention at Albany. Big
Tim Sullivan. ono Of the most adroit
In New York, has introduced
q bill In the state senate to reduce the
price Of gas from 80 cents q thousand
feet to 20 cents. That move spells
trouble for tho gas company. and It -
again pulling itself under cover and try
ing to hide.
The Consolidated Gas Company is q
wonderful Industrial combination, is CIV
ing remarkably satisfactory and efficient
service, and its charges are recognised a.
being reasonable. This aggregation OF
desirable qualities does not impress the
Albany statesmen half as much - the
knowledge that there II q great big wad
OF undivided profits In tho treasury Of
the company.
Alarmed by Indebtedness.
The extrangant administration Of Now
York city has resulted In . monumental
which has at last awakened
the solvent portion Of the population to .
sense OF Imminent danger. A statement
Issued this week shows that the city debt
IL larger than that Of the national gov
eminent, and 1t Is growing every day.