New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-13
REVIEW AND DIGEST
Stock Transactions Irregular
M0ney EaSier-Foreign Out
look Better - Changed
Economic Conditions.

operations. Some of the forces when
prior to last week were held response
BILE for combining operations 10 limited
channels had disappeared and other
reasons had TO be sought for the dui-
ness and absence of trading interest.
Monef. which in the local market has
been an obstacle in the way OF pet
termcnt. last week was more mac
tive than at any time since the middle
Of last year. Instead of being con-
cerncd about the importation OF goId
from abroad New York had gold 10
spare and contracted to send Pa'ls
Sc. 600. 600 OF the yellow metal. Time
money also was dull. Commerclal paper
which i'm the latter part Of l9l2 WAS
offered freely. and for which ra'c oi
Is per cent prevailed was not con-
spicuouslv in evidence. and even the
lower rates of and - per cent ulu
not call forth any marked response
If is very evident that either through
fear of political consequences, or due TO
the fact that the pace has beeh 100
rapid in our commercial activity there
has been a checking of animated pro-
grcssion so strongly in evidence in some
lines during the last six months "a
1912. Whether it may he traced en-
tircly to the approaching change OF au-
ministration will admit Of debate but
unoucstionably there is an inclination
TO rcccde slightly from former trade ac-
tiyity. II will remain for the next few
weeks 10 verify the position, which now
seems 10 be in the direction of a con
servativc tendency in business volume
The air is filled with agitation against
Wall street fnanciers and the Ne"
York stock Exchange The efforts OF
the Puio committee seemingly nave
been to impliCate the heads OF the So
called money trust" How much good
will come from all this investigation is
an unsolved problem. II may be thal
reforms of a rational nature VIII follow
and that the national programme oi
finance and investment will present
clearer. safer and more uniform method
of conducting the money and security
interests Of the country in the future
than has been in evidence up to TINS
time Irrespective of the good that
NAV come, the present is semi-chaotc,
and a generally disturbed condition
prevails in the minds of the pubic.
There is one consolation for investors
during all this perturbation, and that
is that the fundamental safety OF
American institutions in all branches
of business development will not bc I'M
paired by changes in the methods Of
the New York Stock Exchange.
Whether the institution be incorpo-
rated. whether the rules affecting the
different forms of transactions he
changed or not. the earning power
of industrials, railroads and pubic
utilities will not be affected. The
bright side of the near future IS that
funds are now returning from the in
terror very freely. The January dis
bursements estimated around $4,000
600 have so far not appeared III any
volume i'm the investment market but
should soon he in evidence. The foreign
situation is gradually improving, and
the best authorities on international
affairs believe that a foreign war Is
growing less probable as each DAY
passes. With the possibility Of a war
out Of the way, the strain on European
finances will lessen materially; the loss
imposed by the Balkan conflict so far
will probably reach in excess Of SloO,-
100000 Money will be supplied for the
active foreign trade demands which
have been and are growing in Great
Britain, Germany and other parts of
Europe.
An element Of discomfort pervades
the various branches Of labor in this
country, aggravated by an agitation
against corporations by many mis-
guided representatives Of the masses.
who view conditions on the surface and
are inclined to extreme rather than red-
sonable efforts in their attempts TO
bring about an improvement. The high
cost Of living, in a way, is blamed for
this discord, which cannot be attributed
TO any one issue, but in broad way,
probably more than any other one fac
tor, may be traced TO the increasing
luxuries OF the American people. II
starts with the farmer and ends with
the plutocrat. All the way up the cost
of living has been increased. The days
of the log cabin and primitive
farm life have passed. Now there
is the prosperous farmer who, in
stead Of riding on the bare back Of
an old horse to town once in a fort
night or more frequently TO get the
mail and a few groceries, rides in an
automobile, has his mail delivered at
his door, sees the trolley cars passing
along the country highway and has
modern Improvements in his home. In
place Of the old family almanac. an
abridged copy Of Webster's Dictionary,
Bunyan's Pilgrims Progress" and the
Nurse and Spy" may be found fair
~ we'll selected collection OF books on