The Washington herald., 1912-03-10
WALL STREET NEWS
Nearly Every Nation Is Having
Trouble, Political, Industrial,
or Financial.
BY n. c. FORBES.

New York, March 9-A lot OF sand
keeps the worlds business machinery
from running smoothly. Nearly every ma
ton is suffering. Yet the machinery is
moving at a gratifying rate.
Trade is not Of poor volume in the prin-
cipal countries. Great Britain. in face of
a strike OF unparalleled gravity, has
done remarkably we'll until last week.
In Germany, industries have been ac-
tive, though the withdrawal Of foreign
funds last fall is now bringing on too
large a number of failures. and commerce
is compelled to pay onerous rates for
accommodations. France is cheerful; the
bourse is restrained more by depressing
influences abroad than any lack OF con-
fidence at home.
Even in the United States. less COM
plant is heard concerning the extent Of
the turnover than about the margin OF
profit. The consumer will not put on
crepe over this, for he may be pardoned
for feeling that profit margins in the past
have been unduly generous.
stock Quotations High.
Financial sediment as reflected by the
prices paid for stocks on the New York
Stock Exchange has become distinctly
brighter. Quotations are now at the maxi
mum for the year-a wonderful exhibit
tion when the plethora Of political, legal,
economic, ami labor disturbances is con-
sidered. But Wall street is mercurial.
Next week it may be in the doldrums
without any new reason.
Any one who can read these weekly
articles may recall that heretofore a seri-
Gus view has been taken OF the British
coal dispute. Such a stand, II Will be
admitted. has been justified.
Not without mature reflection. l am
1Fnl lfFnFy a
speedy settlement on terms not wholly
one-Sided. Bluntly, ! think the miners
have overshot the mark, and that before
many days pass numbers OF them viii
quietly return TO work pending the COM
pletion Of new pact
Something Must Happen.
The darkest cloud is oft before the
dawn. The situation throughout Britain
has been a blot on twentieth century
CiviliEa ton. Whether the government or
The mine owners or the miners are chiefly
10 blame. l ain not in a position TO state
Circumstances have been chiefly re-
sponsible. But when u position becomes
utterly impossible, then something must
happen.
The something 1 am optimistic to
believe will not be the crack OF indus
trial doom. but a truce on terms not
fatally injurious 10 the producers.
Anthracite and bituminous miners
throughout the United States are pre-
pairing Eor war. But no repetition of the
horrible happenings in England is prob
able.
The chances now are that. failing an
eleventh-hour agreement, u strike of per
haps a fortnight's duration will be eX-
perienCed.
The union leaders would not object 10
a stoppage of work-it would drive non
nnioEists into the fold. The employers
would derive from short strike certain
compensations in the way Of handsome
prices and the cleaning up Of surplus
stocks
Moreover, such a course would help 10
bring both sides to a conciliatOry frame
Of mind. and thus facilitate a give-and
take settlement. The mine owners seem
to have done better than the men during
the existence of the contract now about
TO expire, though it must not be imag
ined that the miners have been in mis-
cry. They haven't.
Playing High Politics.
Eumors are afoat that high politics |
will be played handling the situation. |
Any attempt of this kind would be de-
plorabIe, and should be resented by all |
parties, particularly the public.
Incidentally those OF US who are neith- |
or mine owners nor miners should not |
forget. in throwing OUr sympathies with !
one side or the other, that II wages are
advanced, VIC. not the pro-
ducers will have TO foot the bill.
Stocks We're quiet but firm throughout |
the short session of to-day. The final |
quotations were not materially changed |
from those of yesterday. Standard Oil |
stock was reactiOnary. The steel trust |
announced an increase of orders on its |
books Of 74.f79 tons for the month of
February. The bank statement showed
a decrease OF surplus reserve Of $4-6S2.-
~. Lchigh Valley and 500 shares were
active on an advance late in the day
Suspension of the stock exchange firm
of Connor & Co. had no influence on the
market