Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-03-31

taTd normal pToductlon can never DC
helpful to investments. That last
weeks disaster may be placed in a
proper perspective, however, let US
recall that the ordinary, everyday
fire damage is greater every year than
the total destruction just suffered.
The aggregat, loss will not exceed
one fortieth of the value of the years
farm products.
Our strongest financiers did not
lose their heads and rush to unload
securities. Had they been as mali
cious, as INSCRIPTIONS, as dollar lusty
as some critics alIese, they could un-
questionably have made a fat "klll-
ing" by throwing the stock markets
into generalization through hurried
selling and then, when the debaeIe
was at it's worst, repurehasing large
blocks at bargain prices. Sometimes,
however, patriotism is put above
pence. Americas financial leaders
last week acted couraseousIy and
commercially.
That the calamity must have a de-
pressing influence upon securities can
not be gainsaid, The actual annihI-
Iaton Of property will be aggravated
by interruption Of production in af-
feeted areas and by disloeation Of
transportation. Then special de-
mards will fall upon the money mar
ket, for every sufferer, from the mod
est savings bank depositor to the
great railroad systems, will have to
draw money for urgent requirements,
The world wide stringency in mon
sy is the worst feature of the general
financial, industrial, commercial and
mercantile situation. One can not
speak lightly of the present obvious
overstraining Of credit. Extreme care
will be necessary to prevent swapping
of the delicate credit cords. Some
New York bankers-men of high po-
sition and extensive influence-can
not see a way out. Others dc.
The next fortnight should, normally
bring relaxing of the strictly none.
tary tension, both abroad and al
home.
Germany, which has been a sore
spot, has evidently made all necessary
arrangements to meet the very heavy
April / settlements. No trouble is
now expected there. Austria is hard
pressed, but her quarterly disburse
rents are of less account. France
will have no difficulty in handling her
obligations, and England promises to
emerge from the crucial period with
out serious scars.
The position abroad will also be
vastly helped by the fall of Adriano-
pie, which marks the collapse Of
Turkish opposition to the Balkan
States. Peace will surely bring from
hiding the half billion dollars boarded
by frightened peasants and others
government securities have already
advanced.
New York has received considera-
BILE sums from interior points. The
quarterly disbursements will entail a
temporary furry in call money rates,
perhaps, but the large sums paid out
will return by April 10, and easier IN
terest charges will then be in order.
The extra demands occasioned by
last weeks catastrophe will be an
item Of some importance, but, as an
offset. the saekening in general trade
is releasing no inconsiderable amount
of cash and credit.
There is money ready for invest
rent. Indeed, have been surprised
to find how many small investors
want to be told just what to buy.
Good bonds can be purchased TO
yield from 41-2 to 51-2 per cent.
Standard railroad bonds are on 8
per cent basis. This is unusually
high, but buyers must be prepared
for possible dips, before any perna-
nent recovery sets in.
The truth is that the railroads are
not comfortably situated They are
being embarrassed ovcrmueh.
It IS believed that a movement will
be started looking to the filing Of a