The Birmingham age-herald., 1913-10-05


On the other hand the opinion is held
by opponents of the proposed liberal
move that the railroads are already il re-
ceipt of all the compensation they are ell
titled to. and should be well satisfied to
go ahead on former terms. Against such
a fate the railroad interests have been
bending every nerve, and while full of
hope of success, are by no means cer-
tain. The railroad representatives have
been at pains TO conduct their campaign,
with cleanest regard for the proprietes,
and with Nigilant avoidance of covert
subtleties Of approach or argument. The
commissioners have signitied the single
desire to be placed plainly in possession
of all pertinent facts and figures bearing
on the subject. and left alone. to reach
conclusion.
The commissioners have convinced the
railroad men that they will be given
far hearing, and while being careful to
avoid expressions of over confidence they
feel they have ground for substantial ex-
pectations of success. 1t is a fact. also,
that the deep feeling entertained by rail-
road leaders that an adverse decision
would be a national calamity is also held
by multitude of unprejudiced citizens,
who have made their attitude known in
a most public manner. AT the same time
it has been made clear that loose pre-
judgment of the finding will be about as
dangerous an adventure as could be at
tempted by misguided friends. The status
seems to be very clearly understood by
all intimately concerned The hearings
will begin in very short time and as taey
proceed the issue will become increasing
ly a stock market factor. 1t is the big
factor in the forefront.
Bull Movement Short Lived
The September bull movement in the
stock xat W.
citing IN spots, and occasionally half
dozen favorites rallied to points amid
a loud turmoil, only to settle back with
slight net Improvement. The bull alove-
ment and accompanying reactions were
not without decided changes of sentiment,
but there was nothing permanent in the
demonstrations. A large percentage of the
stirring news turned out to be mere gos-
sip. inspired by the gambling impulse, it
was so charged. or else 1t was symptom
attic of a manufactured campaign to as
sist in the liquidation of underwritten al
lotments of specialties. Some very clever
work was done by the professional trad
lers, whose friendly assistance was OBJ
tanned, but throughout the hampaign there
was an absence of since IT,. The tonic
was principally of artificial manufacture
and the results largely made to order.
Prices were boosted until the increasing
pressure revealed real stocks in .uncom-
Portable volue: this was a signal Tor with
drawal of made-to-order bullsh inspira-
ton and the Inauguration of crafty un-
loading of speculative lines.
The operations usually resulted in Sc
ries of moderate. profits for the insiders,
and the scattering of supplies that had be-
come burdensome upon the resources and
spirit of underwriters and friendly bank
ing houses. The manipulative process was
moderately successful, and was kept with
in safe grounds. The general situation
was not bullish and local sentiment could
not be tortured into permanent conf
dence. The bulk of opinion was "bulish
ON the long rum" yet cautiously favor