The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-17
FINANCIALREVIEW
OF THE PAST WEEK
Uncertainty Is Great Diff
Guilty Which Has Had to
Re COntended With.
STOCKS WE'LL BOUGHT

Although the thoughts of the busi-
ness and banking community have been
deeply engaged with the fateful ques-
lions of international relations hanging
In the balance between Washington and
Der In. and public sentiment has been
profoundly stirred. a sober examination
of financial and business features shows
that never in a time OF grave crisis
has so much evidence been afforded OF
economic strength and stability. For
one thing the persistent optisism which
Is 80 serviceable an American trait has
not allowed the country to believe. IN
advance OF developments, that It's peace
ful pos VIII he frustrated by ANY
failure abroad to appreciate the ne
e ssity OF listening to counsels OF rea'
son when Offered In all friendliness by
the %friendliest nation In the world. Tn
deriving this habitual attitude of hope
fulnsss has been the deep seated conn
dence of the country In the Adequacy
OF it's resources to cor with even the
worst strains which the future Scent
10 have any chance OF throwing on tbs
structure of our trade. industrial and
financial organization.
Lesser national crises IN our history
have been preceded accompanied ~
far more disturbance OF the market
place and far greater interruption oi
the ordinary course of business than has
been witnessed In the past week OF
tension. Stock market readjustinent &c
the unknown and unknowable has pro-
ceeded, but Il has been conducted In or
derby ways and with every indication to
shat ..tatal Nn1ttpa
we're In process Of preparation for a
swift rebound, once the posture OF our
foreign affairs became definitely de-
termined and without much regard to
the precise nature of tho determination
In other respects general business
seemed to 60 on very much as usual
and the weeks news contained m
formation OF favorable omen In con
tinuation Of the commonly encouraginr
tendency OF marketwise and business in
telIigence all through the spring.
Nor could II be said that ANALYSIS OF
the foregoing features of the SITUATION
warrants any conclusion that they ue-
noted either Indifferent or lnsensitive
onjn,on about, the negotiations with Ger
many. on the contrary there was every
evidence that the people generally, as
well as the leaders Of banking and
business effort, were fully awake to al
contingencies. on all accounts II is
clear that our business and hnancia
conditions were subjected 20 n severe
and rather searching test. with results
Of encouragement for the view that our
economic preparedness for a widespread
restoration of prosperous activities could
not he materially impaired by the worst
imaginable sequel TO washlngton's com
munlcation with Berlin.
Uncertainty was by far the most 40
verse factor with which wall street
as the most sensitive point OF the cour.
try's contact with foreign influences. had
To contend in tho last few days. At the
outset OF the week ii had stNl, 10 Id
made clear what public opinion would
demand in the way OF n national policy
When public opinion was known n
had precisely TO he ascertained was IN
manner and scope Of the expression o
national policy which the crisis called
for and II was not until Friday morninl
that all questions on this score wer'
answered. President Wilson'S note .
the German Government was then pub
lished and II was instantly recognize.
as the unmistakable voice OF the wnp.'
nation.