Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-03-22
INTEREST IS KEEN,
BUT MARKET Dull
Absence of Fluctuations Not
a Sign All the ''Big Men,
Are Asleep.
SHAPING UP CAMPAIGNS
TO BE SPRUNG LATER
Even Keel of Prices the Thing They
Want During Period of watch
full Waiting"
BY w. G. NICHOLAS.

NEW YORK, March 21.-Do not jump
to the conclusion that there is nothing
in the stock market because prices do not
jump up and down violently every day.
For several weeks there has been an
absence of open excitement, although
under the surface and in the background
traders and the general public have been
deeply interested in developments. There
are conditions when silence is quite sig
nifcant OF deep feeling, and nervous
anxiety for decided action one way or
the other. There are conditions under
which a dead market can stay dead a long
time. but that is by no means convincing
that the actual situation is not very
much alive. We have such case in
hand. Stocks do not huctuate more than
one half point day on the average. Now
and then there is a little squirt of
point or two in specialties. or something
happens to inspire general activity in a
small way.
Grating big campaigns. The really i'm
portant people in Wall street and the
rest Of the financial world east of the
Mississippi are deeply interested in mar
ket conditions as though quotations were
jumping to and fro two points to ten
points day. The play is for inaction,
however, instead of Mysteries, and there
are important reasons why this should
be the case.
Uncertain Of Future.
Very few people are settled in their
minds what the future holds in store
for themselves and the public. Argue as
you will. the great interests-that is to
say, substantial property-has not been
for years in such a state of uncertainty
as now. The trade is in a routine state,
but this must not be taken to mean that
it is permanently so. Men with money
and resources. who are never satisfied
unless they are doing something impor-
tant or planning large campaigns for man
ufacture and extension of enterprise,
simply will not make ventures in which
there is the slightest risk until they
know more about the plans Of the men
who have been placed in charge of the
nations affairs.
Honest effort has been made to carry
out prophecies embodied in proclama~
tons and enactments. These grand plans
for increasing the prosperity and business
saftey of the country have not material
lied as could be desired. One Of the d.
rect reasons for the all-prevailing dull
ness and dissatisfaction is found in the
elaboration with which the powers that
be attend to the speedy enforcement of
promises the fulfillment of which seem
as remote as ever.
for some inexplicable reason the theory
more than holds its ground that a great
deal more depends upon the decision of
the interstate commerce commission in
the per cent freight rate case than ap-
pears possible in the mere allowance of
an increase amounting to about $1,000
GOO a year in the pay of railroads. BY
one of those curious combinations Of CIR
cumstances theory or conclusion has
made this decision an event Of high i'm
fn ~ tI~A
ter of $15O0O.O0O a year Is to be decided
does not appear to impress the wise men
of the business world as being much
more than an incident In great climax
and in movement upon which may
hinge national progress or disaster.
Railroads Seem Indifferent.
The railroads do not appear to care
much whether they win their case or
side and that If an unbiased verdict
could result they would have very lit
tie trouble on that score. As it is
however, the feeling will not subside
which has made this freight rate prop
osition a force of Invest Importance In
the minds of many it will go long way
toward the Endorsement Of the ruling
administration and all it means The I'M
tive element is the hope that within the
next year or two the big rich" and
big men generally should be subjected
to the discipline of rigid observance of
the law wherever 1t affects the interests
of concentrated property, and the men
| responsible for the direction of indus
tries and finances.
The complaint is that they have been
high-handed and Indifferent to what
other people thought about the alleged
indifference to public opinion. 1T has
SO happened that many of the leaders of
action in all lines of important bust
ness have died within the last five years.
and cases are few where those who in
| herited the fortunes and responsibilities
| are not, as a rule yet in the entire con-
fidence Of the public The inventors and
| managers of specialties that developed
into mining enterprises and reflected
credit on American intelligence and in
| dustry apparently left nobody behind to
| carry on the successful business on the
scale to which it had been built.
| The public was reluctant to make a
very substantial protest while the really
| big men were still in control. To the