The Washington times., 1912-07-07
lFINANCIAL CENTERS UNDISTURBED BY
ELECTION PROSPECT; SEES VICTORY
Specuao With Either Mr. Taft Mr. Wilson in
White House They Will Retain Their Present Control
Candidacy Likely With More Zeal From Now On
GRANT DATER,
MunscS publications

small margin for surplus after meeting
all necessary charges. All of the iron
manufacturing companies are working
and getting into more profitable
period. The future looks encouraging
for the premier metal industry.
is a growing desire on the part of Wall
Street interests to make. that feature Of
paramount Importance In the making Of
prices, The discussion on that point is
to the prophecies heard as to what is
going to happen after harvest time.
The only question Of doubt arising to
disturb the beautiful prospect Is a fear
vide the facilities FOR handling the
colossal tonnage.
Many Of the weaker roads are con-
fessedly short of rolling stock, and even
equipment to take care of their own
business. There has been some increase
in amount of bookings for new rolling
| stock, but the trouble Is the roads that
need cars and locomotives most have
! neither the money nor credit to get what
they most urgently require. II Is not
| at all improbable that the country. will
| get its first taste next autumn Of the
congestion that railroad men have been
| holding up as being the inevitable pen
Z, atty of being starved into incapacity.
II this should occur, II will be the
first object lesson in the campaign OF
L
| in order that the public may be brought
| to realize the injustice of regulations for
| the restriction of rates, while at the
same time they are obliged to submit
| to wage and other exactions.
Steam Roller Methods.
] II would appear that stea m. rolIcI
| methods AT, 70 he applied In the re
organization Of the Wabash and sub
sidiary systems. There is a loud out
cry among distressed stockholders crel
the prospective assessment Of $40 {
share, but the alternative Is merciless
ly held before them that they mus
either come across for the amount, o
see their preferred and common share
wiped out entirely under foreclosure.
implement on either horn Of the di
lemma will not be a painless operation
The steam roller is under the persona
direction of Winslow s. Pierce-a finan
cier attorney, who received his Wal
Street training under the direct per
sonal tutelage Of f. II. Hartman
; George Jay Gould, and the senio
obtain results, and he believes in herol
treatment for the financially sick VIII
, are turned over into his charge. II h
is permitted to have his own way
Wabash Will be reorganiZed, good an
proper.
The money situation has not under
gone important change. New Yor
banks are losing their surplus week b
week. Europe is taking our gold an
the West and South are slowing doe
in their shipments to this center. TIL
tide will begin to flow back into the In
, terror in a very few weeks. 1t Is to
early yet to form any sound judgmen
as to whether the farming sections vi
require less money or more than usua
for the movement Of their crops. A
this time of the year, Western an
Southern banks always say they nav
/ enough capital at home for the purpos
: and they always wind up by callin
/ on the East for money.