New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-21
FINANCIAL RECORD
here And ABROAD
"a TO Railroad Credit
~ Needed to Protect the
Treasury's Gold.

...,.,.l district Was frankly
IAs 49, when il read In yester-
tsspPO papers the account OF
tay,, 20 DAYS proceedings in the sd-
ne "a freight rate case. ever since
ssnss ss.,r r, Of railroad heads asked
he eSa n, Wilson 10 use his good
PrsslosA,so Usrd supporting railroad
s1sss 'inst the disastrous effects OF
srtcH rad been felt that the East
he W. vs.. would get an altogether diff
En- slhss .,rtion from the Interstate
isrsas ~ Commission. The rehesr-
s.ssoush, seemed to start on nke q
iag' ~. sv Of the former unsuccessful
TspsIs., 20 obtain higher tariffs.
'n's ,,,susl members Of the commits,
ksN.ver whose inquiries seemed
81 49,. hostile attitude toward
: 49,. may not necessarily repre-
% w. ~" opinion Of the majority OF the
stis - Then, too, railroad executives
bs''e A. The opening argument, natu-
pee H,,.J emphasis on impaired earn
MY ~ than on the dangers aris-
iss' ~, - foreign liquidation. lester-
70 i.ss.trnent bankers were able 10
tq " ~. tbst the necessity was not
J. '--uch to protect holders OF rA I,I;oaa
. -st from lower market prices
..,"'5rgssd income IS II was TO guard
az 49, country from 8 dangerous
..,,ip On its gold.
n, Interstate Commerce Commis-
:, represents the federal govern
so nd in this case, instead OF con.
H ~. Itself 20 8 narrow scrutiny OF
tiih go Of higher tariffs on railroads
n , .l,o,srs. h might better consider
go -. ~. government itself has an
an t.sining interest in checking for
..ii;pg. II IL is 70 hold on TO its
tss ~ roid As was pointed out yes
~. - h 10 the sales Of our securities
a.-g Of pressing necessities OF their
-. owners is added unloading
..' .ss who have no longer conf
80 tbeir American investments,
'saes .--,ous increase IN the export OF
q go 4. "a he expected. Our stock OF
'..,.;ous metal on which currency
~ r.S;t are based is small in com
y. with the estimated total OF
~ M 600 par value Of American
.s,,rd bonds held abroad. We can
~. -,tch credits in Europe against
,-t for securities returned, for
,,...nt high price of sterling ex-
80. shows that even now the bal
- trade is against US. Any con-
'sS.-,Sl, proportion Of European hold
.sr. back 10 this market would
| -, N psvment export Of enough
"a n embarrass the federal Treas
=, vbol. attitude Of the federal au-
s,-ti,s toward business for the last
- vssrs is directly opposed to the
..v.,ment's svowed desire to aid the
49, Industry to withstand the
5..I Al war. While development of
/ =, srpoYt trade is causing Washing
!. 20 much concern, yesterday saw
a., armament in the suit for dissolu-
~ N the United States Steel Cor
,.,,-ion. one Of our most efficient or
,,,,,toos for selling our products
$500 representatives Of the cor
,sr,tion pointed out that it had IN
:,n YEAR. brought en- income into this
,ous.rT Of more than S44O ,OOO,OOO,
MI, not single competitor had COM
| ,l,rsd Of unfair treatment.
Al his port export is holding up
| vsn The total for last week, while
,ons 100000 less than the week
,,sxSar was about the same as IN
1913 Great Britain and its possessions
how'd 10 falling off in purchases and
Z De,msrk and Norway took increasing
,nssr.s, but exports to France were
.boui 100000 less, ard shipments TO
| he Netherlands also fell off. Grain
| nd Gotten bills are succeeding better
il Supplying demand for foreign ex-
,Ai,rs, and demand sterling yester-
Day vert more than a cent in the
| pond lower.