Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-05-25
Need of Strong Leadership.

Neeu OF SCfOng Leadership.
Wall street never felt a greater need Of
strong leadership than at this moment.
Ihe old stalwarts are either dying Off or
retiring from active management and the
public has not yet become acquainted
with their successors. No man of I'M
usual generalsliip has Yet come to the
front. The field is full Of jealousies and
Of factions yet to prove merit and ability
There is no commanding genius in the
limelight. although several eminent gen.
ti .ei are struggling desperately for po-
sition at the head of the ranks.
1t may take panic to develop colossal
figure in the western financial world.
Candidates for the honor are not confined
alone to New York. Chicago, ST. Louis,
Philadelphia and Boston have men they
If they only had the chance. The present
affords a great opportunity for the de-
velopment of a supreme financial genius.
His appearance would be welcomed. None
of the secondary class need apply. Can
didates must be prepared to submit to the
sternest "acid tests"
The process of reorganizing and read
justing the thirty-four subsidiary COM
panies Of the old Standard Oil trust Is
approaching close. The parent company
500 100000. The stock in all Of them
was owned in entirety by the Rockefeller
corporation and it's distribution and reor-
ganiZation has been an exceedingly COM
plicated piece of work. There has been a
general enlargement of capital in the
smaller companies and distribution
among the shareholders of large accumu-
lations of profit which had been allowed
to remain in the treasures.
The astounding speculation that has
been going on for year or more in the
subsidiary Standard Oil stocks. and in the
parent stock, too, for that matter has re-
suited in a weird CONFUSION in quota
tions. The commotion has excited the en-
tire public and transactions have mounted
into stupendous totals. Insiders have
taken advantage of the excitement to un-
load prodigiously. 1t is admitted by in
siders that they have sold heavily of their
holdings on the uprising prices. One APP
parently efficient estimate is that outsid-
ers have absorbed more than the ma
jority of the varied issues, but this is
doubted. 1t is declared earnestly. how
ever. that the number of new stockhold-
ers is more than 100000.
Bond Issue Shock.
The $40, 600 600 bond issue made by the
city of New York just did get through
a scant fraction above par, but inasmuch
as the price Immediately sold off to the
round figure the street voiced it's disap-
pointment Instead of being a great bull
card in the stock market the deal turned
out to be the reverse. 1t was not ex-
actly a failure, but 1t certainly could not
be called a success. This was one Of the
closest calls New York has had for a
long time in the money borrowing line.
although it paid a higher interest rate
than at any previous time.
AS a market factor the Japanese scare
has apparently fiattened out After the
first spasm of excitement Wall street
lost interest entirely in the play Moth
ing very startling now confronts the
daily stock market routine. There are
those, even. who look for sustained i'm
provement at higher prices.