The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-03-23
.BUS|NESSAWA|TS
DECISION ON RATES
Until II Comes, There Is Little
Hope OF Permanent I'M
prOvcment.
OPTIMISM is PREVALENT
Season Of Year Has Sometime
to Do With Better Feeling
Of Market.
ny nnoADAN WALL.

New York. March 22-Quite natural
~, the public is prone to lay at the
feet of the President all the evils OF
tho present day, and perhaps too little
credit is given to the executive for
ms evident desire TO hasten decision
from tho Interstate Commerce Commits
sion, that will relieve the anxiety re-
Sarding railroad rates
Certainly the developments OF last
week ITO not encourage optimism For
weeks The New Haven has been in the
position OF patient in hospital.
lying on the operating table, awaiting
inc decision of the doctors who did not
know how to operate Djsmcmbcr
mcnt is The verdict with the unwilling
consent of the patient The relatives,
IN TINS case the stockholders. are asked
to agree.
Optimism is a natural characteristic.
and is naturally prevalent at this sea-
son OF the year. Denied the right TO
encourage the development of trans
alike are turning to the less obstructcd
chtnneis OF business, which may be
calieu manufactures. with Il leaning
toward the more hazardous business
OF mining. ar represented by the con
per industry. There appears to he
little disagreement on one poine-no
need be expected until the needs of
transportation arc officially recognized
!ntimation from Washington that tho
Interstate Commerce Commission would
right TO issue Lake Shore bonds has
complicated the situation, for hitherto
IT has not been deemed necessary TO
acquire the Endorsement of tho nuthori.
ties at Washington for railroad Issues.
BANKERS guardcdly admit that the
position OF maturing obligations is ex-
dremeiy precarious.. and at this late
rates would hardly compensate the
railroads for the high interest rates
demnmded by lenders, a fact that is
III
money appears to be n drug at . per
cent. the low rate. by the way repre-
scnting the fear OF the lender of long
term obligations.
Money never goes out OF fashion. "
remarked lender when he conclud ed
negotiations at his own terms Con-
nuence rs nj Il discount and until this
can DC strengthened by some sano do
cisIon from the Interstate Commerce
Commission money will be unobtain-
aDle Tor the extension OF old indust rics
Wnat httle speculative interests
EXISTS is centred in Tho equipment
StockS. industries such as leather,
manufactures OF electrical, the steel in d.
dustry and copper issues
II the extent of movement may be
estimated by the forces behind, Central
L ,eather, GuGsenhcim EXploration
Westinghouse and Colorado Fuel are
among the most promising.
Foreign interest in our securities
mas received an additional check by
thc political disturbance in Ireland
and through financial scandals which
have developed ut Paris. Canada mas
not been behind with it's catalogue OF
railroad difficulties, and Germany has
announced very clearly that every ef-
fort will be made 70 keep capital at
home South America has made a
strong hid for funds. and China has
begun an area of development that will
bid high for capital in any quarter
AS stated above, money is never out
OF fashion For the time being we are
not in the mode OF commanding funds