Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-25
Largely b
is the answer.

10 iitA oilS
The subscriptions of nearly
$500. 100000 for New York
State s, $5l 100000 Az per cent
bond offering take on "A new IN
terest when viewed in this light,
do they not?
NV reading of the situation still is
that security quotations are likely TO
advance, intermittently Of course
but that a good deal Of commercial
wreckage remains To he cleared away
before 24-carat prosperity can be en-
Joyed.
Fortunately, President Wilson has
sought to alay nervousness and
20 encourage capital TO go ahead along
legitimate lines His latest message
evoked little but elogies.
Iron Hand Under Glove.
But capital, let me contide, does not
for an instant imagine that nothing
hut smooth waters lie ahead, Be-
meath the velvet glove capital can dis
Germ a Presidential iron fist. BY and
bye the public win also sec II.
Therefore. caution is still the key
note. although various incidents of an
encouraging nature have tended Ia
modify the pessimism that has hereto
fore prevailed,
Much of the Improvement in securi 10
ties has been based less upon easy
money than upon confidence that the
Interstate Commerce Commission viii
rrant the Eastern railroads a moder-
gte Increase in freight rates-at least
aif Of the 3 per cent asked. Were
MS expectation blasted, even l per
en-: call money and per cent time
! upey would not prevent serious
relapse and wholesale liquidation of
american securities by foreign hold r
ers,
! mention this to indicate that the
recovery is susceptible to reversal
should anything untoward uneXpect %
eddy happen.
Ny own belief is, as il has always
been, thar the granting of small In
crease in railroad rates would have a
Calculable effect upon investments
and upon sentiment abroad and al
home. AMI that the commission Woul0
doubtless find that the railroads need
ed succor / do not for a moment
believe that the application will be
summary refused.
hear that Investigations already
made by the commission into the
profits bankers have derived from
railroad financing have uncovered less
than was popularly suspected.
Moreans to Report.
P Morgan q Co.. | understand,
will submit a tabulated report show
ing that the percentage OF commits
sion paid them for New Haven tinanc-
ing was unbelevably small.
Speyer & Co. ! also learn, are like
IN TO be given clean bill for their
dealings with the ST Louis and san
Francisco system The Interstate
Commerce Commissions report on the
collapse Of this road is ready. and will
disclose unsaVory facts and figures
concerning the film -tlamming in
dulged in by the Yoakum contingent
There may he a sensational sequel
Wall street has been exercised over
rumors that the National City Bank
the largest in the country and the pet
enemy Of Secretary McAdoo and
Comptroller Williams. would amalga
mate with the Corn Exchange Bank
the principal State bank, whose char
ter Is extremely broad. Many bank
ers would like TO see established one
huge Independent bank of character
and caliber that would command re
spect and confidence in foreign cen
tiers
But | am assured from what ought
to be official sources that the City
Fank plans no such institution, but
will join the Federal reserve system
this week.
60 know. however, that this bank
las Well al certain others would
ave preferred to know the personne
the Federal Reserve Board before
Growing in their Tot with the sys-
N seeing that Tire central board has
aCss unlimited powers
Stocks Doing Well.
or stocks il should be said that th,
vanco bias already been suh~tauta
10 rapid More hesitancy may %,
Tested temporarily, although gilt.
edged issues are sti.l unusually cheap
n3 can not but pc regarded as att
.factive for outright purchase.
Tn bet grade cf bonds should con
tinue their upward movement uude
iho stimulus OF extraordinarily cheal
money aud iu the absence OF enthu
siasm for new ventures on the part o
.n1uentiaI interests.
Third rate stun should be left Sc
Nerely alone by those who speculat
on thin margins The situation is no
quite ,t2'id enough to make that kin
vi Tbling safs