The Washington herald., 1912-12-29
ny !. A. FLEMING.

Wall street read the Worlds Work
story and decided that it would be wise
10 sell stocks. Bearlsh sentiment was
/, as thick on the street yesterday as fog
on Long Island Sound. Even sounding
for location was impossible in the be-
fogged atmosphere Of the street.
Backward. turn backward, o Time, in
your flight seemed to be the inter-
probation OF the text OF the story in the
monthly that made Wall street tired.
Cut out the big way of doing things, go
back to the country shoemaker with his
one pair of shoes a day, some days,
rather than the great factories that turn
out thousands Of pairs and at a price
that drove the old cobbler out of busi-
ness.
Backward to the days of the one
horse power machine shop, the foundry
that produced ton o. two rather than
10 the mighty engines OF industry that
have made this nation great.
Advance individual effort not in any
great combination Of unlimited resources,
but as one man competing against many
one-man concerns.
This is what Wall street evolved as
the wilsonian principles from reading |
the Worlds Work, and Wall street con- |
Guided IL that was the initiative that ( |
did not care to take chances on the fu- |
ture. holding stocks.
Between the Sherman law and the /
Wilson theories with the the Hon. Will
liam Jennings Bryan as the power be-
hind the throne, Wall street expects to
look upon gloomy weather with but oc-
casional rays Of sunshine when the fat
tsning bears are caught in their own
traps and hayed.
Other news Of the day was OF a negligi-
ble character. neither favoring bulls nor
hat m |
close till after the turn of the year.
That the declines were not especially
large was probably due in 4 measure at
least to the short session The selling
movement did not get fully under way.
Then, too, there was some covering by
traders who propose to stay out till the
advent Of the year 1873 perhaps longer.
Colorado Southern, Canadian Pacific,
Denver, Delaware, Lackswanna and
Western. New York Central. and Chesa-
peake and Ohio were the weak rails Of :
the day, with more than a point loss.
The industrisls weakened fractionally.
Strength was shown in Rubber on short
covering. in General Electric, and Pitts
burg Coal. II
Small losses were sustained in the lead
ers.
The net price changes did not reflect 9
the blueness of the speculative fraternity. !
The sales for the two hours were but :
5000 shares.
Out at the State line. where there is C
modest and successful bank. Western
methods are sometimes resorted to to
secure justice.
fIn one instance the paying teller in \
closing an account accidentally overpaid Al
q customer $500, more or less. .
The redeposit of the withdrawn ac- s
count was made in a local bank and for
The exact amount of the balance. Never :
theless assurance was doubly sure as to z
the Overpayment and The former Gus =
toner, who disclaimed all knowledge of o.
any overpayment, was arrested and
locked up. The grand jury will meet 4
some ninety days hence l
Assurance was given that he would not 6
be bailed out The next step was to :
make the daily food at the jail less .
oalatable than usual. and after one lone -
neal confession was obtained and
speedy repayment of the overpaymentl
made for freedom. 81
There are more ways than one of max 3
ng good if one can get away with B
hem. I'm
Making Banking Popular" IN
II is a good text and one that every Of
'ank official and employe should take w
INTO himself part of his work, IL he IN
you'd be successful :
To make banking popular every effort n,
must be directed to familiarize the Gus n,
omer with the proper methods of doing 50
patience. consideration. and ra
nfailing courtesy should be shown every
person coming into the bank. no matter II,
cw ignorant Of banking methods. Make tn
hem understand just why forms are ur
ecessary. why Identification cannot be wi
7aived, why it is essential and they pI
ill realize the condition existing, IL hs
ley have common sense. tie
The customer who has been accorded
ordial and cheerful treatment, even | "
lough only q small figure in the field
finance. will remember the courtesy wi
hen he has reached success. diI
Every one has one or more friends :
dvertising by word OF mouth is one of in
le very best methods of booming any be
1siness. and unfailing kindness and De
ourtesy bring much of this kind of ad- ch
ertising. You may not be able to ac- s
ount for this or that new account and
ct you probably are entirely responsible
II its coming. col
People love cheerful greeting: they CHI
Se to be noticed in the affairs of their ne
ank. One handClasp brings them back sci
tier another: one CHEEKY greeting makes ev
lstomers walk out of their way to re- ms
i've another, and so cordial relations
lat are hard to wean away are es. Y
blished. bu
The banking business is no place for +h,
e Crouch. not even though it is neces- Ioc
Lry frequently to turn down applicants
II favors. 1t can be done in a gentleman
manner. the way that makes friends.
People who pay interest on banks
nds, while their own money is on de- " n,
lsit without interest are certainly en- A.
lied to great consideration. IA
As Abe Martin might say: What's be- Bss
me of the fellows who used to preach Bro
the Golden Rule as worth remember o4n
ry" Con
All gone cen
There was a plenty. great abundance SSi,
gossip around the banks yesterday. but IC,
t one item of news. Col
The session OF the Stock Exchange was Den
ade interesting by offers for ANY part DIS
the capital stock or preferred stock Of 6rhe 6r1e
e Washington Railway and Electric at ~ ".
ana oids OF % Tor the common Sales Inte
re at 90k for the preferred and at s. Int
: the common. Into
[ was really an interesting session. Iowa
e broker being willing to Do almost any, so Lu'
ing that would result in business going ~;
the records. He would buy railways Ms
] them. and was a bit anxious to sell lNIiss
her Gas or Capital Traction or both, Natl
d not overly anxious to sell Anything. New
traction 5s were strongest at no. Rail- ~ SeS
y As sold at SO. Potomac Consolidated N.,r
found market at par. and the first Neyr
'rtgage IS of the same company at Nerf
Z. Mort
hank stocks figured in the days busi- Ores