New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-12
,.,t,s Depressed - New
D s'a.s Railroad Bond Issue
s e 'suo.ON.OOO Expected.
Az SHARES SHOW
'. oer,NEWED BUOYANCY
...,,ien Against Control of
I'np I, Establishments by Politi-
u's al Groups Bears Fruit.
$500 - Trilan,l


-, 1.-THE Bourse was
az and hesitating last week as
''s-S n two opposing currents \
g., -.e in Russian industrials' leo
s'i'Y ~, lump I'm Maltzoffs. helped
3 . = .srset the slump Of y points in
~,r,as and a lesser reaction III
y .,,ers American statistics
81. sococ-,on increase in the REQ
- .-.s The chief factor determining
20. ,..spess Of the market
,-s rentes. after beginning the
,rovantly. aeain became de-
20 liz the governments still some
s.srlous fiscal taxation projects.
-. boom took place i'm Russians
>. forced GOVERNS operations on a
I, sale BY shorts.
,srket remains narrow, with a
= ',crcsse in cash dealings. owing
I, Unemployment Of the money
~ the January coupons and Just
- issue Of 100000 French
-. -.lVay bonds is expected shortly.
- hank shares have shown re-
u ,povancy within the last few
), helped by the efforts Of the most
s,.b,e portions Of the press to
he dangers Of the subserviency
financial institutions Of the ceun-
- ,se needs or fancies Of politi-
ar parliamentary groups and Of
--.,.r. that come and go with be-
.gsnng rapidly.
F. a. now famous speech at ST.
s.rs II. BRAND pointed out the
rr,s difficulty Of the present situa-
4. Al, 10 the complacency of some OF
% rsat financial houses-indeed'
80 y their seryility toward certain
..rss,ns but q widespread feeling
rr, hat the big French credit estab-
,,-,-ts show an unwarranted weak
80 vhen confronted with the exigen-
d. a the public governing bodies.
- r. theory these great financial in
r.-ions being free corporations.
eoce have only such connections With
4, soyernment as are required by
Ia, interest. The remarka BILE con-
e.ziion Of capital in the hands OF
~ companies has borne fruit in the
t..-on Of discount and money loans
s,ixlry. agriculture and work Of all
IL But. on the other hand. there IS
!. anger that this concentration OF
1,sl nav excite certain calculations
9: eonseouent combinations and pave
= way to inquisitions in financial
args that should remain the bust
~ only Of the bankers and their Gus
rsn The temptation 10 politicians
he hour 10 lay hands on funds so
s.y available hard pressed as they.
lssu are by budgetary needs when
rs immobilized millions seem so
Ny to be drawn upon, is sometimes
rsSible
l-Ong all Frenchmen who have
'nsihiny 10 lose. the sentiment pre-
" that these companies which hold
rust the cash that has been grad
y withdraw from the historic
fslsn stocking" should guard I'M
c;ahgly their great responsibility.
acrsl obligation rests upon them.
y permitted % make profitable
t.saiions with the funds intrusted
nsir care does not give a voucher
Hese great companies 10 accept die
'1nal measures from government
: laaneial straits. II capital. great
q NAL. finds II profitable 10 concen-
'-s rs wealth in great combinations
= act Is private affair between the
Gas and their customers.
ne feeling is thus growing that
" great Institutions. which depend
YER existence on the public. are
aano and foot by their organiza-
sld BY their subsection 10 the gov
'1sa' 10 all the uncertainties of po-
warfare. No combination exists
~ financial establishments which
ue boarded wealth Of the coun-
/" Withstand official pressure, for
wards OF directors have hitherto
'a themselves timidly subservient
'sIa0fity and subservient to its re-
-'nsn's. They always answer In
va by this rejoinder:
a' 'sn We resist without endanger-
* capital and the credit for which
~hswersble? Whenever we have
F'sns Of opposition we have
threatened with coercive laws of
~ aa'ysnd non-economic nature"
-. esnser does not lie in these
"a, 0u' In the indifference and
80. unity among the great credit
!, a l0n' themselves. The big bank
90 ''shles have always tried 70
s,,,,s "s oirhculty by suppleness and
=. . the enemy's position. They
se,,' "'s0 to make partner Of the
s<aelsay., s" 10 ABSORB II
~ al. are the opinions which are rap
81, ',lains ground and their o. advo-
ssss NAT the great banks viii
a.a,,. ' 'neir backslidings and while
's,rS..s the enlightened advisers Of
a,,, s'.'', finance, remain firm in III.
mn 'hey should defend.
''rlse UP STATISTICS.
's.. ~ os'as Review" Of last week pub.