The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-07-20
Outlook stili bright.
ny II. c. Forbes.

New York, July 19.--NothinG has
happened to discourage the optimistic
attitude assumed toward securities n
few weeks nEo in these articles
The probabilities weigh strongly in
favor OF better prices for both stocks
and bonds without the preliminary up
heaval that would have been inevitable
had the imitation OF bank credits gone
on unchecked. Only some sensational
development not now in sight can
plunge the country into financial de-
moralization. OF course, elements Of
danger are never wanting. Without
measure of uncertainty there would
be little trading in stocks
The Mexican scandal grows De-
spite the grave consequences that
would be entailed at first, the United
States government may be compelled
however reluctantly, to intervene The
patience of European nations having
large interests at stake is showing
signs OF exhaustion.
The financial and commercial con
ditions in Mexico are chaotic The
whole impossible situation might have
been brought to a head before now.
The downfall OF President Mcllen.
for ten years the Morgan servant at
the head OF the New Haven Railroad.
is rich IN significance 1t marks the
doom OF high handed capitalistic au-
tocracy Are the Morgan people too
hind to recognize this? Can't they
catch rNmmcr of light? Don't they
begin 10 realize where they and minor
manbcrs OF the Money Power stand?
The New Haven sought 10 ride rough
shod over law and public sentiment
81 Its mai. hanlirs iting. race toward
monopoly. Morey S"hindreds OF mill
licns-werc taken from the public's
pockets, chiefly because OF Morgan's
connection with the road. and poured
lav!shly and rccklcssly lnto-and out
of-the companys treasury But even
unlimited millions could not porna-
ncntly defy the people.
Meliens eacrifce is importan, only
IN that II signifies the dcath-kncM Of
arrogant, iawiess action by high
finance bent upon tactics and schemes
repugnant to Inc people
Not even the Morgan or the Rock
efeller cliqucs. the most Aggressive Of
all, arc TOO high to be brought low
once tho electorate becomes aroused
Let US hope the New Haven catas-
trophe viii pe the last lesson needed
70 open the eyes OF hcadstrong CAPT
tal!sts to what is what In this en-
llghtened, democratic age
Arbitration Works Both Ways.
The old adage saws: ITS poor
rule that doesn't work both ways. .
the conductors and trainmen on our
Eastern railroads nave been sharply
reminded OF this.
They threatened TO strike unless a
hoard Of arbitration Was appointed to
edjudge their wages. Congress rushed
through a bin establishing United
States Board Of Mediation and Concilia-
ton, which has power To settle dis
putes. If necessary. by arranging for n
board Of three or six arbitrators Both
the men and The railroad presidents
accepted this method
But now the men refuse to let the
board arbitrate the whole question OF
their wages, hours, conditions OF SER
vice. etc. They insist upon conhnine
the arhitrators to the demand for a
si1o6o,00o Increase in pay
They want the arbitration rule to
work only one way
They may get their own way this
time. as the managers did not en-
phasiZe their intention Of opening up
collateral issues
But arbitration that works both WAYS
il coming as sure as sunrise. Let not
the mon blink this fact They cannot
arrogate all the butter To their own
side of the dish al! the time The peo-
pie. who pay, VIII not stand for it,
Dizziness Not had Sign.
SOCK Exchange transactions have
fallen TO the lowest ebb in nearly
twenty years and Stock Exchange seats
ccntury--the latest price was nearly
100000 below the 1906 maximum
The quietness in trading is not to lac
construed infinitely bearish on Sc
cur.ties. Rather does IL indicate that
The market has been completely sold
out.
new impetus is awaited. which iii.
;ection will the next movement take
Given normal crop conditions and q
continuance OF the healthy tendency IN
the money markets, the prospects are
that; barring unlock for disaster. the
best securities Will improve In marke,
value.
New York, July 19.--Money on call
nominal; no loans. Time loans steady
sixty days t04hes; ninety days g.