Business Enterprise

whose work is not simply routine constantly give some attention to manCEuvring of this kind and to the discovery of new opportunities for putting their competitors at a disadvantage. This seems to apply in a peculiar degree, if not chiefly, to those classes of business men whose operations have to do with railways and the class of securities called " industrials." (Taking the industrial process as a whole, it is' safe jto say that at no time is it free from derangements if this character in any of the main branches of lodern industry. This chronic state of perturbation is incident to the management of industry by business methods and is unavoidable under existing conditions. So soon as the machine industry had developed to large proportions, it became unavoidable, in the nature of the case, that the business men in whose hands lies the conduct of affairs should play at cross-pnrposes and endeavor to derange industry. But chronic perturbation is so much a matter of course and prevails with so