New-York tribune., 1913-08-16
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

The extreme pessirnism concerning
crops which prevailed in the early part
OF this week naturally was followed by
slightly more modified view Of the PROS
pect. according TO reports from various
sections OF the country. Some OF the
states have been visited by soaking
rains. and it is reported that further
rains will materially change the crop
prospect. In some sections Of Nebraska.
Oklahoma and Kansas the outlook at the
present time is not promising. and on the
whole conditions are rot encouraging,
particularly as regards the corn crop.
and the stock market. in measure. is
under the influence OF sentimental
changes in the commodity markets.
Increased Railroad Valuation.
The valuation on intercounty railroads
In California coming under the super
vision Of the State Board OF Equaliza-
tion has shown an increase this year over
1912. but the tax rate will be lower than
it was In 1912. on twenty-four roads the
assessed value is $3.50 72O.742. an increase
of $3.i1l.3n this year. The highest asses5-
ment was paid by the Southern Pacific on
valuation Of s65.277.526 The Santa Fe
comes next. with 23l .692,S7o, the Central
Pacific s24 2S2. .294 and the Western Pacific
s7.75sOo The average valuation is sl0Sis
a mile.
Unjust and Harmful Publicity.
From the various reports bearing a
Washington date line about affairs CON
nected with the New York Stock Ex-
change and Wall Street financial instltu-
tions, II seems reasonable to assume there
is a nurturing in certain Washington po-
lltlcal circles OF an opposition TO matters
bearing the Wall Street trademark. II
this be as II seems. certainly II Is neither
fair TO the country as a whole nor 10
New York in particular. The recent dis
patches calling attention 10 a proposed
investigation by the department In refer
ence TO sl4.CO0.o0O loen thought 10 have
been made By the National City Bank IS
an example OF unwise II not perniclous
attempts TO discredit the methods OF
leading institution. IL the department et
Washington had any reason to question
the character oathe loan, ~ such loan
had been made. il was a simple matter 10
investigate IL without beginning a publicity
campaign in advance. Probably no bank
ing institution in New York has been
more closely scrutinized and has been
visited more frequently and recently by
bank examiners in an endeavor To dis
cover any weakness in the banks posi-
ton than the National city. EXamlaa-
tions naturally have been thorough. and
a loan Of such magnitude would certainly
be known 10 the examiners u they arc
competent and faithfully perform their
duties. II the loan were irregular. why
did not the department follow the course
prescribed ny law and penalize the bank
accordingly II no such loan were found
the publicity is unjust and reflects on the
sincerity OF the person or persons giving
out such Information. II Is line for
methods to be adopted to sustain the
credit Of men and institutions engaged IN
the business Of money and exchange IN
the United States. not only for the benefit
OF the American people, but 10 inspire
confidence in our Institutions abroad ana
10 encourage the investment or foreign
funds in American securities. IL IL al
most criminal 10 accuse the leading bank
Of the United States of violating national
banking laws unless some positive proof
has been obtained on which 10 base such
an accusation The National city Bank
denies the story and prima facially the
denial looks decidedly the more reason
able.