The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1884-08-07
WALL STREET REVIEWED.
The Extraordinary Advance in All
Va.ucs During the Past
Three Weeks.
1t Beats the Philosophy of the Knowing
Ones, and Marches On in Spite OF all
Calculations and Predictions.
An Exhausting Resume OF An Interesting
Subject, by a Bul Who Was
Bear.

NEW ioRk, August The sun TO day
says The phenomenal advance of wall
street prices has continued for another
week, TIL at last some OF the big bul.
themselves cry out "Stop, that'il do ,
let us have litte rest large amount
OF long stock was sold on Friday and
Saturday, but the speculative body took
1t AS gingerly as n hot cake. 1t Is averrod
that {. j. Osborn, for Instance, has sold
out all his holdings and gone on Il yacht.
Ing trip But the market did not show It
1t all, though Osborne was one of the
origtnators OF the July boom, and WAS
supposed 10 hold, with Ed Chaplin and
his customers, the largest amount OF
stocks recently held in any one Office
W +. Green looked for reaction for
fu ly n week, but did not get IL The
office Of Nessrs. Souther 4 Willard haye
been selling openly and freely But the
market abso rhed every thing, and showed
only a small setback at the close of husi-
ness hours on Saturday. Mr. Frank
work seems t. be Il titanic bull, who re.
fuses to listen to any proposition OF
straight ahead. Now this is a plain state
ncut of facts ani not ~ an an ""gumcnt
based upon The writer's supposed switch
ing To the bull ranks, after a three years
persistent bear GrOwl. There is no earth.
ly use IN attempting to argue in times
like these, >til, less u prophcSy anything.
IL Is quite enough II "A man is capable of
accounting for what he sees, aud the best
proof of this is To be found IN the fact
that niue out OF every ten men one meets
in Wall street instead OF the usual
" How do YOU feel upon the
narkctr" Greet YOU with, GLOW
do YOU account for such state
of affairs" II seems that everybody
thinks II he only could ind out the exact
course OF the last three weeks move
Iucut he would KNOW what 10 do Yet II
is probably not so. Ii i~ true that the
advance wa, phcnomensl hut that Is not
proof il must stop right here. TN the
other hand. there IS always ihr chapter OF
accidents tN hr taken into consideration.
Something might happen 81 ANY moment
aud uskc the market lose IN three hours
what 4 hsd gained IN three Weeks Hut
~ .oug a. money remains IS cheap a, 10
j. al over the world, and the investor,
ANA spectators remain 50 Tired Of idle
ness and low rates Ut interest n thcv are,
thu mONcmeui can easily continue OF .t>
own force Al AL events, il would he B..
>urd 10 attribute il 10 mere manipulate d.
1t Was crrLslnly started by few ~tru..r
InsuipulstorS, hut 1t ran out oi their
hands No combination of them
could have the m su> To accomplish
what haS been sccompii, ned II j. easy
enough IL start = huyiug movement under
advantageous circumstances, but 1t j. by
NO means easy 10 Keep it up A. it has
beeu kept up In thi> case IN spite OF fail
ures AMI depre>sion- Il trade al around
summed up, the elements Which made a
success OF this movement ar these. The
panlcs, coming alter q steady liquidation
OF three years, brought prices toa ieVc.
below which most Ul the securities could
hardly 20 as long a. there Wa ANYBODY
willing TO hold the coutro. of properties
they represented The failures, terrible,
unexpected aud criminal though some
Of them were. came al in QUE lump
anu = week or twu'S TAN ana meditation.
led 20 the cone u>iuu that thu worst was
over The bauNs. ~ contracting their
loans and discounts, strengthened their
position to such an extent that IN sur.
pu> impeiatiVr.y drWAuied An outlet
Sto-k coiiatcraI> hAN.n. been properly
wcvdvd during the panic, had now br.
came the safest securities ip loan pu, and
the banks began 10 loan mou,y to Wal
street SPECTATORS In preference TO myr-
chants and manufactures, whose note,
cauuOt br rea.iE,d on cad. The hort
interest was imm- use and tAr bears all
had plenty OF money Which they hsd ac-
cuIuu ated dur.ug Tie long process Of
liqui4Auon They consequently did not
rush - cover a, It once, bat went in one
by one, aud that uuy after having