Show WALL STREET ON ITS METTLE t i The The fact that G Gotham financiers rs ha have raised 50 30 to provide proy-ide for emergency demands of business busi busi- ness hesS is convincing proof that the New York mone money li lights CAU n take care of themselves ls without calling in iI Dr Shaw ev every r time Wall Tall street has ilas an till attack of nerves nerve g. g The rhe pa passive si e attitude of the Secretary of the Treasury during the latest excitement in III the street was in the nature of a warning ng to the money powers that be e that l they could not lOt c count upon help from frn Washington The financial kings were well aware that flint Secretary Sh Shaw's Shaws n ns s policy of increasing the thic Governments Government's deposits in the thc banks and purchasing pur pur- chasing s n bonds hail had reduced the hc available cash cash in Iii th treasury until a bare working balance remained lI c understood too that the excess of receipts of c expenditures from month to month was too top close to iube it safe afe to repeat Secretary Shaws Shaw's liberal treatment of last month So when the Wall Vahl all street men realized that it was as up to them hem to do something to provide for the thc enormous January requirements they promptly got down own to 10 business and arranged to to work vork out their own sah salvation without calling the for the help The Q 5 pool which course COulS is headed b by J. J Pi Pierpont Morgan will furnish enough III money to meet inet et all the legitimate business s between now and J January Januar It is stated state that the thc bankers bankers bank bank- ers who arranged the syndicate do not consi consider er that present conditions demand any extraordinary action ac ti tion n on their part pail They find that every important house in the tile street is in a position to tide over oyer an any have however how how- emergency They informally arranged et ever eer I to provide a sum which shall be bc available if V an arty any extraordinary demands arise arise Re during a time when time the banks are arc pursuing a conservative course with a view to meeting the lie enormous requirements for January ar which this tills year Jear will ill approximate OO- OO O They will be e pl prepared pared to prevent extraordinarily di high money rat rates While man bankers will not i indorse 8 some ome of Se Secretary lC Shu Shaws Shaw's s financial experiences it is 18 probable that thai they will he be unanimous mons in approving ng his course in declining to aid I Wall all street at this tills time lime His ilLs refusal has had thc the lie important erred of proving that lint Wall Vall street can cant t t. t mike J ke c care of it itself elf if it faces a case of root rout hog or die ic The people have been desirous of establishing sta l shing this I Il fact l for man main years and whatever we may say of Secretary haws Shaw's meth methods tl to him belongs the cle credit it of showing showing- the time country that thai under 1 compulsion Wall mahl Wallstreet nIl nIlst st street et can dig and dig as deep as the lie run close couii- couii ti h banker el when he lie feels that the thc finance a ai ai beginning to tingle To 10 use a homely ex pres let q let I every tub till H stand md on its own bot lOOm om And I j i is aimed especially at Wall Vall street x |