Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-16
Wall Street Is inspired by
Z Presidents Pacific Ut !.
& terances on Trade.
HAS MADE A BIG HIT
WITH FINANCIAL HEADS
Growing Sense of Public Confidence
Is Shown in Liberal Buying
Shrinkage Of Present Movement. :.
By W. q. NICHOLAS. :
ndence of The Star.

Special Correspondence of The Star
{ - NEW YORK, March 15 1913.
Wall street is getting over its
nervousness. 1t Is not impossible, Of
course. that prices may not go
lower. but the leading banking inter-
ests. are undoubtedly changing front
They are not yet in the least aggressive.
but the advice which comes from that
quarter Is more encouraging than it has
been in monthS. Customers and friends
are being told that this Is q good time
to buy investment securities, and that
there will be little risk in 50 doing. No
guaranty goes with this counsel. but the
attitude OF influential people is without
doubt becoming more friendly to securi-
ties. The suspicion is harbored that in
some cases this revived cordially on the
part of banking and bond houses grows
out of the fact that talk is inspired by
q desire to get rid of goods that have
been piling up uncomfortably There may
be ground for this assumption fiji certain
quarters, but as q rule an honest pur-
pose to enlist capital where 1t can be
placed safely is the governing idea be-
hind the advice. There Is still a sugges-
ton Of stringency in the money situation.
and the time rates continue around 5h
per cent. Money for the future is not
even easily obtainable at that figure. but
people of high credit are not turned
away. Improved conditions abroaA have
become a notable factor in the creation
OF a more cheerful sentiment in the New
York financial community. The foreign
influence has undoubtedly been q very
Important consideration in American
finances ever since the object lesson was
administered after the Balkan-Turkish
crisis became acute.
Is 1t took months to digest the mass of
American stocks and bonds that were
dumped over by frightened European
Holders. Buying for foreign account has
recently been q manifest feature of
transactions on the exchanges and
through the International banking chan
nels- The foreigners are unQuestfonably
peginning to buy back the merchandise
the pacific utterances of President Will
son and the rapid unfolding Of his poll
cfes have been pacifying upon the Wall
street mind. The impression that he
might be impracticable and academic is
being slowly corrected. The expression
Is often heard these days that Wilson
has made no mistakes, and 1t looks as
though he was a bigger and broader
man than he was supposed to be by even
his warmest advocates" All of this is
tonic in its effects as well as being sooth-,
ing to surface irritation.
:. It Is becoming clearer every day that
he n not trouble maker In any sense
and that he is earnestly striving to make
since election. that his highest hope is
10 assist in building up the country so
that when he returns to private lie 1t
may be with proof that he Is a great up
b1ilder-the greatest the country has yet
produced. That is his acknowledged am
hitfop. That he Is q man Of almost ideal
courage in the expression and mainte-
nance of his ideas Of what ought to be
done to produce the greatest beneficial
results is becoming conviction among
men.