Evening star., 1915-12-26
Bache on Conditions,

tlon situation continues, as far as vol
ume is concerned, but the unfavorable
feature Of congestion has been little
relieved. The report of 3S, 900 increase
in the number of idle freight cars last
month has been considered surprising
but this may be understood as not
meaning any decrease in demand for
cars. 1t is simply the accumulation OF
unfit wooden cars. barred out because
the heavy steel cars are imperative foI
long shipments to the seaboard. An
other reason for this increase is that
cars laid up for temporary or even
slight repairs are included in the idle
car list, and the tremendous activity
In the transportation business has
brought about confusion and damage
under the stress. abnormally swelling
the number of cripples. Many of these
cars will soon be launched again into
the whiriing vortex.
"A railroad man tells us that there
has been, in addition to the general
activity, quite a little added traffic, due
to the accumulation of coal, for fear
running out of the bituminous and an
thracite agreements in April Of next
year. On this subject of labor and also
of the tariff he writes intelligently as
follows:
"A general unrest in labor Is indi-
Gated by the coming move on the part
OF railway engine and train men and
other labor in their effort for an eight
hour day, and undoubtedly this coming
period of several years will have the
and resulting trouble. However, rail-
way earnings throughout this period
will be good"
Henry Clews' Views.
1.-THE January investment demand is
close at hand and it remains to be
seen how far it has been anticipated.
The January disbursements are esti-
mated at over s260.0O0,O00, an increase
of more than $20,0O0,0O0 over year
ago. Congress has adjourned over the
and thus far has shown very
tendencies. The presi-
Dental campaign, however, has already
begun and more or less excitement is
almost inevita BILE. AS rule. no i'm
portant legislation is attempted in the
last year of a presidential term and
the effect of such campaigns is usually
out of all proportion to the excitement
created. The chief issue of this cam
paign, however. promises to be pre-
paredness. on which a hot contest Is
in prospect Other issues may also be
formulated as a result of the war.
THE year closes with trade in gen.
orally good condition. There is no
abatement of activity in the steel in
dustry and the railroad outlook is bet
ter than for several years, not only as
to traffic, but also as to the attitude of
public opinion. The big trunk lines
are reporting large earnings both gross
and net and their chief problem now is
to remove the embargo on traffic
caused by the congestion of export
freight at the eastern seaports. Our
second note to Austria, though firm in
its demands. Is pacific in tone and
should pave the way for a satisfactory
final adjustment. Needless to say, a
lessening or removal of international
friction would have a stimulating in
fuence upon the stock market The
collapse of Villa in Mexico Is also a
favorable factor. and removes a long
disturbance. AS a result an
early revival in Mexican enterprises
may be looked forward to-"
hGraphophone Symphony.
Years ago. probably ten. Frank A.
Pelouze, then broker on the local ex.
change. perpetrated the following mar
ket parody on Hamlet's soliloquy, re
vised and improvised to suit the times"
which is here reproduced. 1t is espe-