Evening star., 1912-11-10
Special Session Uncertain.


Now they are not certain. The in
sistency of Representative Underwood
and others Of free trade leanings to have
a special session and get through with
the tariff revising at the earliest possible
moment is evidently intended to impress
the President-to-be with the urgency
and desirability of early tariff action in
order that the country may know exactly
where il stands, and be spared the in
Fiction and worry of protracted delay
and uncertainty The issue has two
sides TO il and it is by no means certain
that a special session will not be called.
III * sure thing that nobody has been
authorized 10 represent Mr. Wilson's
plans or program He has made it plain
that he would do his own talking when
questions of that kind were up. He has
distinctly stated that he would act on
his own volition when the time arrived
for doing things. 1t is extremely un-
likely that he confided in publicity agen-
cies either confidential or otherwise en-
dowed. as to what he would do or would
not do under certain contingencies. 1t
is entirely foreign to the Wilson nature
and 10 his record for him TO enter into
star chamber understandings with the
secret emissaries of Wall street or any
other selfiShly inspired element. There
is excellent reason for believing that Mr..
Wilson a the present moment has an open
mind as TO the special session question, and
that he is at the present writing entirely
uncommitted. Intimate friends who
might have a fairly good idea as to his
leanings We're talking special session
down 10 a few weeks ago. They suddenly
ceased talking about IL. Upon the fact
may have been grounded the theory of
a postponement of Congress discussion
until December. 1913. If such is the case
the reed that the high protectionists are
leaning on is weak.
Wall street is not as impassive as it
would appear on the surface with regard
to attacks on the stock exchange and its
methods. The phrase stock exchange
Comprehends so the banking interests
identified herewith. Wall street and
stock exchange methods are responsible.
for the deep-seated prejudice that exists
in the country at large against this CEN
ter. For the sake of commissions ac-
cruing from speculative dealings in stocks
the exchange has of late years given a
great number of Widcats and rainbow
corporations the standing OF an indorse-
ment of listing them. To the public
1T large the listing OF stocks on the New
York Stock Exchange gives them credit
and standing. II is tacit Endorsement
by the greatest market organization in
the world that goes for a good deal. 1t
II an invitation to the public TO come IN
and buy the stun without further knowi-
edge or information 10 intrinsic or
speculative values. Unscrupuoius pools
take advantage OF the liberties accorded
and of the open Endorsement by the stock
exchange to give artificial popularity to
securities which may be utterly worth
less As long as the members of the ex-
change share in the big commissions dis
tributed by the pools and manpulators
they do not appear to care who is stuck
or for how much 1t Is a disgraceful
feature. and the better element among
the members OF the body would like to
see the lines drawn closer and more at
tentlon paid TO protecting the public.