The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-07-29
A Worry Favorable Outlook for the
Country's Condition, Flnan-
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.

Waterloo for bears, and everybody ID
Wall street asks himself and everybody
else: 'Who are the WelIlngtons and
BlutcherSY The bull ranks seem to hay,
no leaders, yet the market has been ad
vanclng, without the slightest indication
of reaction. The most inveterato bcari
have deserted the field or openly passed
to the other side. Cammack, Traveri
and their followers ran away three Of
four days ago. Woreishoffer has mo-
only covered all his shorts, but Is Sus
pected Of being long of large amount o.
St. Paul. II. N. Smith did not dare Ia
remain alone in the breach, and Is nelthei
to be seen nor heard of any longer. w,
I. Soutter openly acknowledges not only
that he has covered all short contracts OF
his Office, but that he has joined the bull
ranks. The minor grizzlies have been
slaughtered in an unmerclful manner, and
only few cubs are left here and there TO
die of starvation.
"Who has done it ali?" "Nobody in
puIGlCuluIJ IL nus NOHS IbSCIlt 10 luC
answer OF most clear-headed men. The
fact is that ali the Goulds, Connors,
Werks, Osborns, Chapins, Whites, Nor
gans and Bloodgoods in creation could
not have engineered a movement of such
force and magnitude If combination of
peculiar circumstances had not quietly
ripened to help them. To constitu-
tonal bear, like the writer of these ar
tlcles, it Is very 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
best reputed corporations, and a con-
stantly increasing want OF public conf
dence In the management of fnan-
cial 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
all the more significant, because they can
apparently not be accounted for. The
best way to elucidate the existing pheno-
menal condition of affairs seemed to be
to obtain opinions Of men who are known
to be on the opposite side, and who seem
to be right now after having been wrong
so long. Some of these men hate bear
so much that they wont talk to him at
all, but after q little coaXing they can be
made to talk, provided promise is given
that no mention Is made In print of the fact
of their condescending to speak to what
w. II. Vanderbilt in his elegant language
called "sneak thieves" and "cheap fell
lows" A round of calls among this class
of men brought forth the following sum-
mary Of arguments
Stock speculation, line railroad build
lngs, was overdone and had to collapse.
To-day there are no more railroads built
and no speculation is INDUCED In. Roads
are no longer paralleled, and stocks are
no longer Inflated. Things have come to
sounder basis. Existing railroads,
even those that suffer from competition,
are improving their management, while
quietly reserved for investment. The
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 be
selling below par when money is so
cheap, and when there is so much of 1t
unemployed The depression of tho last
three years, and the disgraceful occur,
rences of the first 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
the Grant & Ward, the Seney, the Emo,
and similar rackets, have become fire.
proof and waterproof. The liquidation
Of 1SSl-S4 has weeded out all the weak
elements, and dollar bill in thd
bank or in pocket to-day is worth moro
than ten dollar bill two years ago. II
has certainly more purchasing power, and
Its holder more experience. The mass
of moneyed people understand all that,
and having lost q great deal of money,
they want to recuperate. They hope to
do SO by buying back at thirty, forty, and
fifty per cent. reduction, the same secu.
rites they had been compelled to sell out.
They can buy the same amount Of them
with half of money and thus double their
income. To people who live on their in
come and have no business to fall back
on, this Is a vital question. They have
no means of improving their position, ex-
cept by reinvesting, and they have begun
to reinvest now. They are timid
yet and the process will be slow
one, but orders from them come In
oil the time, and it is these orders that
take good stocks out Of the street, make
them scarce for loaning purposes and
maintain prices so firm. The balance Of
trade Is turning in our favor. We shall
robably import fifty millions ofgold this
year, and this gold will have to be in
vested. Our exports are steadily increas-
ing while our imports are decreasing.
General retrenchment OF expenditures
has had marvellous effects on our foreign
trade, and should cholera continue in
Europe, we shall save millions upon
millions Of money ON the one item Of
American pleasure expenses abroad
Prices of everything have gone down SO
much that considerable savings are being
accumulated In purchases of necessarlos
Of life at home, and these savings
win naturally seek investment. We have
an abundance Of everything in the way
Of crops. ALL we want Is few good
crops of integrity. The moment people
at home as we'll as abroad, see o fair
prospect in that direction, our securities
will become staple articles. all over the
world. There appears to be fair indica-
lions that the events Of last May and
June have brought both stockholders and