Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-04-13
IEAvY FINANCING
WILL TAKE PLACE
NOT FAR AHEAD
|arket Has WithstOod Many
Shocks With a Remarkable
Show of Fortitude.
BY 3. c. FORBES.

LsNT2N YORK, April Financial
Markets are wirhstanding shock after
aock with remarkable fortitude
either wars nor floods. tariff re-
sion bills nor legislation inimical TO
Il railroads; neither the death OF
Ole worlds greatest flnancier nor
'el Aep -rooted monetary stringency
/ nave been able to shake the security
juarkets afresh.
ydTn Wall Street parlance the stock
.Gcarket has been sold 20 stand
sll."
"a Whether it can bear up against all
Ne enormous new financing an
4 3unced and impending, remains 20
q demonstrated.
The Pennsylvania announces a S45,-
he0. 900 stock issue. which sent the
ef iares down 20 the lowest price in
ascent years The ST Paul Railroad
floating s3O,0O0.0O1 41-2 per cent
o. lBds q shade below par. This is
, ale S available for savings banks and
81 otherwise gilt edge. The effect upon
,ther high grade bonds has been de-
~ heessiug. since the latter have been
Z Bling uDon an income basis Of APP
.orreciably less than 4 l-2 per cent.
NJ, Postpone Evil Day.
New York Central has sold $40
lnA0 600 one year notes in London on
,or s-S per cent basis, a piece OF tenn
prary financing which is not only
bstiy. but means that the evil day,
= hen perm8neUl tiuaEciuE must be
! iced. has been merely postponed.
40 The nterburoush subway bankers
Weave called for fully 81 100000, and
luaortly viii De iu the market for
& Nuch larger sums
b.. HffHI a
3 brow upward ~ SJo,O0p,VGO. The
earriman roads likewise are re-
tnartled as prospective applicants Tor
rlhuds while Chesapeake ana ohio
iatay bring forward new issue AZ
lsny moment. New York state needs
billions for canals but can not get
Z lem at : per cent. The rate prcserlo-
K All Want Money.
"a Tho aggregate capital neeus Of the
r. ederal and state Governments
ouNhich are not as economical as they
ll4ighl be-, municipalities (which are
,knnually Withdrawing larger and lar
TroPr sums from productive purposes
rehilroads (which must expand, wheth-
.iog they are we'll Off or poorly oul, ana
anadustrlal corporations viii, during
i R18. reach staggering hgure.
re- broad. capital dmands are also eN-
81 sssive
n Wnl the worlds money markets be
! bic 10 meet all obligations next fan
M 4 good many very influential
~ iaerlcau bankers DO not believe
III .auble can be avertcd and they are
'snlvisiue their clients 20 secure IA
= lities which win not terminate I'M
"A J 1914
~ NJ on cares Ca adopt the role OF
e,rophet especially q prophet Of trou-
1.ie. but the views here put on paper
fe being expressed privately by
~ anl.ers ana flnauClcrs of recognized
u .gumen Having been told this II ~
,,,1r each business man 90 do his own
eilulsine and make his plans accord
,,shn "a his own deductions.
~ The Tariff Bill.
W The ,onr-aWaited tari.- bill threw
ihseither the commercial nor the imam
e ial would into decentralization.
- Speaking generally, the bill! as sub
aiaitfed To Congress. emboales gem
Wine reductions in schedules which
itnrar heavily upon the great body OF
e ac people. Nor is amy important IN
leeustrv Iegitimately entitled TO con-
Il,srrvatior apt 10 he ruined. no mat
F.r how many loud assertions 20 The
m ontrary may he made by certain
Interests.