Connecticut western news., 1883-07-04
THE FINANCIAL TROUBLES.
What a Good Authority Has to Say About
 Them, and their Effect.

Speaking of the failuers in Chicago the
 New York Hour says MT. Ginsberg,
 who for twenty years was the richest
 and boldest stock operator during the
 Second Empire in Paris, was an habitual
 ''bear" and defended his policy by g | shrewd saying that ''Shlamazal'' al
 ways comes. Now, his extraordinary | word expresses volumes. It means that
 in the midst of seeming prosperity some.
 thing suddenly turns up which sets all | calculation at defiance. When, some
 weeks ago, everything went on smoothly
 and hopefully, MT. Vanderbilt suddenly | abdicated several railroad thrones, which
 was nothing less, for the time being al
 least, than Shlamazal," and the re- | suit we still remember. Since then
 things were made comfortable again and
 June boom predicted, which actually
 did come and held the market strong for
 nearly two weeks, when suddenly the
 Chicago "Shlamazal'' comes without
 warning. Of course everybody not i'm
 mediately interested says that this Chi cago break down is the best thing that could have happened, that it will be a great benefit to the country and to all kinds of legitimate business, and so on.
 But ill the meantime the influence on the stock market is 8 genuine "Shlama- gal, as no doubt those who are long of stocks have found to their cost the last two days. To this we may add that the hitherto so firmly believed-in combina- tion to "bull' stocks seems to show 8 sort of "ShlamazaP' among its members; in other words, they have lost faith and the fentente cordiale" is broken. Under these circumstances the outlook for the moment may we'll be gloomy.
 Yet this sudden event is not the begin ming of the ''great break" There is sure to be asharp rally when the Chicago affair is once fairly over and the weak kneed here on the Stock Exchange are shaken out. In the first place a very large short interest is being piled up which, as usual, must assert itself. Secondly, there will really be great i'm pulse given to the exportation of our surplus grain, and the sudden fall of ex- change already indicates this fact. Again, the crop prospects will now as sume g very favorable aspect. The per sistent faIsehoods told by the grain bulls of crop destructions will now be as per sistent on the other side, but with this difference, that the intended falsehoods will turn out true, because we may hapIy expect fair average wheat crop. When this fact is once we'll under way (and it will be every week now) the general feel ing will not be 'bearish." On the con- trary, desire to "bull'' good times will setin. Hence, this Chicago 'Shlamazal' is only transient visitor.
 In the meantime 1t may be safely pointed out that the hitherto oldest and strongest stocks are the most sensitive. In fact, it seems that, after all, specula- tion is now more in those stocks that have future before them, and as has often before been remarked ''water will go to wate1.' No matter how high 8 watered stock once was or how tempting its uncertain dividends are, there is no These watered stocks, with all their prestige and responsibility, must and will find their propor level.