The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1884-07-31
THE GOOD TIME COMING.
A Very Favorable Outlook for the
Country's Condition, Finan-
cial and Material.
The Situation as Viewed From Wall
Street, the Money Focus and Manipu-
lating Center OF the Country

The Bears Finally Routed, and the Bulls
Booming Stocks and Other Values
Safe Progress.
NEW York, July 28-M In aud ont %
Wal Street says "rhe past week was d
Waterloo Tor bears, and everybody in
Wsl street asks himself and everybody
else: Who are the Vel lngtons anO
Blutchersr The bull ranks seem TO have
no leaders, yet the market has been ad
vancing, without the slightest indication
OF = reaction. The most invetcrntc Denrs
have deserted the field or openly passed
to the other side. Cammuck, Traver5
four days ago. Worelshoffer has not
only covered all his shorts, but is sus.
pected of bclug long OF large amount Of
st, Paul. H. N Smith did not dare to
remain alone In the breach and Is neither
TO be seen nor heard of any longer. W
| L. Soutter openly acknowledges not only
that he has covered all short contracts Of
MS UuN Iuht He uhS loiIitu tue Uuii
ranks. The minor grizzlies have been
slaughtered In an uumercIiul manner, aud
only y few cubs are lett here and there to
die of starvation.
"Who has done 1t alp "Nobody la
particular; 1t has done Itself" is the
answer OF most clear headed men The
fact is tAnt ali the Goulds, COnnors,
Werks, Osborns, Chapins, Whites, Nor
gans and Bloodgoods in creation could
! not have engineered movement of such
I force and magnitude, II u CON lnatlDn OF
peculiar circumstances had not quietly
ripened to help them. To constitu-
tional bear, like the writer OF these ar
ticles, 1t Is worry difficult to find any valid
bull argument on the stock market, when
he sees constant failures IN all branches
Of trade, constantly decreasing receipts
Of all railroads, constant attempts to
borrow money on the part of even the
beat reputed corporations, and con
stantly increasing want OF public conf
denoe Ia the management Of tlnan-
clal Institutions. But facts, of
which the stock Indicator is the
expression, have of late been
too potent to be- ignored, Three years Of
persistent bears, preaching in spite OF
wild abuses on all sides, do not warrant
the disregard Of men or events, which are
Nil the more significant because they can
apparently not be accounted Tor. The
best way to eiucidate the existing phrno-
msusl condition of affairs seemed to be
to obtaiu opinions of men who are known
10 be ON the opposite side, aud wh scam
to be right now aii.s naying been wrong
50 iohs Some of these men hate bear
10 m"ea a that they wont talk TO him al
=" but after little coaring they can be
.A..A ,.,i Ia, t,t
that no mention is made In print OF the fac
OF their condescendiny to speak to wha'
W. H. Vanderbilt in NJ elegant ianguag,
called "sueak thieves" and "cheap fel
lows" A round of calls among this Gas,
, OF men brought forth the following sum
mary Of arguments;
, Stock speculation, line railroad build
iDgs, WAS overdone and had to collapse
To-day there are no more railroads buit'
aud no spec ulation is INDUCED In. Road:
are no longer paralleled. and stocks are
Nv longer iuiated. Things have come tc
, . soundsr basis. Existing railroads
! even those that suffer from competition
are improving their management, while
stocks instead oi being on margins are
quietly reserved Tor Investment. Th,
, wild cat securities Will still
have to remain IN oblivion,
but the dividend payers must
necessarily brace up, There is no earth
ly Reason why stock paying dividend
OF six or seven per cent year should bt
selling below par when money is st
cheap, and when tnere Is 50 much OF II
uur mployed The depression OF tho last
three years, aud the disgraceful occur
rences OF the irst half OF this year have
eliminated. People believe that nothing
worse than what we have seen can hap.
pen; And that those who stood through
tho Grant & Ward, the Scncy the Euu,
aud similar rsckcLs, have become lire
proof and waterproof. The iquidutIon
al lsSl-s+ has weedcd out all the weak
elements, aud dollar bill In the
bauk or 10 pocket to-day is worth more
than "a ten dollar bill two years ago 1t
has certainly more purchasing power, aud
its holder more experience. The mass
OF moneyed people understand all that,
and having lost great deal OF money,
they want to reCuperate. They hope To
do 50 by buying back at thirty, forty, and
nifty per cent. reduction, the same secu-
rites they had been compelled to sell out.
They CAN buy tle same amount OF them
with hsn oi money and thus double their
income. To people who liys on their iu-
come aud have no business to fail back
on, this is vital question. Tney have
no means OF Improving their position, eX-
espt 10y reinvesting, and they have begun
~ reiuvest now. They are timid
yet and the process viii be II slow
one, but orders from them come lu
all the time, aud IL Is these orders that
take good stocks out OF the street, make
them scarce 1or loauing purposes and
maintain prices SO hrm. The balance oi
trade is turning IN our favor, We shall
probably import hly millions OF gold this
year, and this gold wall have 10 be iu-
vested. Our exports ale steadily incress-
lug while our imports are decreasing
General retrenchment OF expenditures
has had marvellous effects on our foreign
trade, and should cholera continue iu
Europe, We shall save miliious UPON
, millions OF money on the Que item o
American pleasure expenses abroad
Prices Of every thing have gone down sc
much that considerable savings are OeiuI
r accumulated in purchases OF DscessarIei
VI life ~ home, and these saying
2 will naturally seek Investment We hsv,
an abundance of everything In the wa
= OF crops, All We want is Jew goo
crops of integrity. The moment peopl
II home as we'll as abroad, see 3 fsi
: prospect in that direction, our securitie
viii become staple articles all over th
world. There appears to be isir indic'
c lions that the events Of last May an
: June have brought both stockholders All
@ legislators to their senses; that y mol
Il wstchful aud stringent policy Is to b
Y coUe the order Of the day aud it is tn
% feeling that no Grant i Ward OF III
SwiAdlss Gas occur aAy mere MAX