Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-11-12
WALL STREET
HOPES FARLEY
CONSTRUCTIVE
Immediate Results From Arms
Deliberations Not Antici-
pated.
OPINION IS OPTIMISTIC
Special to Indiana Daily Times
and Philadelphia Public Ledger
By MONITOR.


and Philadelphia Public Ledger.
By MONITOR.
NEW YORK, Nov. 12.-Thus far the
financial community, thereby meaning
Wall Street and its habitues, has ac-
corded minor significance to the ar-
preaching conference on disarmament
Yesterdays holiday probably was more
in recognition of the impending discus
sion than of the momentous date which
It processes to commemorate. Whether
the recent manifestation of cheerfulness
in the security markets is merely the
expression of irrepressible hope, or the
subcOnsciOus recognition of benefits to
accrue to the world from the forthcoming
discussions prof. ably never will be def
nitely determined
Nevertheless, Wall Street hopes for
something ultimately constructive to
come out of the parleys at Washington.
although it is cynical and skeptical about
immediate results. Wall Street has a
contempt for politicians that surpasses
even the oUtspOken dislike Of the afOre-
said politicians for Wall Street itself
Financial circles are almost unanimously
in favor of a broad disarmament pro
gram. Business men generally know and
realize that healthy Industrial conditions
can be maintained only in regime of
peace where confidence will remain IN
disturbed by war or rumorS of war.
, The mushroom activities of 1918 and
F1916, in the opinion Of experienced men,
are highly undesira BILE.
FINANCIERS LOOK
TO SETTLED RELATIONS.
The financial world, so to speak, is
looking forward to settled international
relations that viii permit confident ex-
pansiOn on peace time scale. 1t is be-
lieved that nothing viii interfere with
the consummation of this desire. except
technical objections and carping crit
cism on the part of seif-seekinG poll
ticians. This. in brief. is Wall Streets
conception Of the disarmament congress,
its prospects and its possible disappOint-
ments
As to the future Of the market. specu-
lative opinion is optimistic. Com DOSite
opinion probably would summarize the
hopeful influence somewhat as follows :
The evidence Of the investment demand
stimulated by the plentitude and ease
Of money; the possibility of synchrOnOus
reduction in railroad rates and wages
the reduction in interest rates: the Tu-
mOrs of steel mergers: the advances in
crude oil: the improvement ia the Stats
Teal ana iuQuST RAJ POSITION OF copper
the revival in the building trades evil
dencad by Increasing demand FOR lumber
and steel products; and last. but not
least. the slender hope that the disarma-
ment conference may produce something
tangible and practical.
NO DISPOSITION
To MINIMIZE
On the other hand, there IS no DISPOSE
tion 70 minimize the difficulty that will
attend efforts TO get production casts
lower. for labor blindIy refuses TO recog-
nize the difference between high wage
scales and full aggregate wage payments
II continues to prefer a dollar an hour
one day a week. in the hope that the
working schedule may be increased. to
1.-THE assurance of fun time on a lower
wage basis. The obstinate and mistaken
taxation policy Of the Senate in clinging
to the high surfax rates. is accepted as
the inevitable manifestation Of political
exigency. something mat will react unfa-
vorably on the country as a whole.
Perhaps the strongest element in hull
ish feeling at present is national pride
the assumption that nothing can iu-Hr-
fere with the progress of the country fOt
any extended Copyright. 1921, By
Public Ledger Company.