St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-29
First Installment of Series of Interest
ing Letters From the Noted
Journalist.
Restful Seclusion of the Bookmaker Gall
ing to One Accustomed to More
Active Life.
influence Upon Modern Thought and
Education of Model sun
day Paper.
The West Running Wall street--lm
portance of ''Bob'' Garrett.
Ingerson.
At the Metropolis.

strong market and good business make peo-
pie happy here. There is no prevailing
sensation except the death of the vice
president This calamity has opened up a
new theme for argument and almost
startled the country with the defects in oul
laws as to the presidential succession. II
is regarded as almost settled that Gen.
Logan will be chosen presiding officer OF
the senate and thus be looking over the
bars at the presidency for the next three
years. If this sudden taking off shall stir
congress enough to bring out law settling
eniS question, Mr.. Hendricks will not have
died in vain. The newspapers are making
a great deal of useless agitation about what
would happen in case Cleveland should die.
This may breed some crank who will seek
glory in attempting his life. The less said
about the matter now the better. The
public mind should not be stirred by par
tisan agitation now. The distance between
us and trouble is not great at best, in case
the president should follow Mr.. Hendricks
into the unknown. 1t seems strange for
me to be dealing again with current events
For half year l have been shut up with
nv books and thoughts. Strange cOmpan-
ions these for one who had been so long
in the midst of the rush and hustle OF the
busy world. l did not like the seclusion,
vet | can imagine the quiet ease of the old
poet, philosopher or historian who wrote
ONE PAGE OR DOZEN
as he.pleased, then slipped his wine or played
with his dogs for paStime. or thought Of
new songs. statements or descriptions with
which to interest if not to Startle the world
But to write book under whip and spur is
not pleasant. To crowd years labor into
five months is taxing and unsatisfactory. L
was interested in my subject. and therefore
the labor of writing the Life Of Gen. Grant
was pleasure despite the difficulties sur
rounding its production. l am done
with books and solitude now and
have come back to my old
pulpit. the press, with satisfaction that it
is hard for me to express. Books reach the
few; the newspaper is the welcomed guest
in each household every day and to feel the
pulse of the country through it is my de-
light. The Sunday newspaper furnishes
good lessons before the preacher speaks,
and it is singular how strong it is growing
and how much it contributes to the we'll
being and well-doing of the people. Like
the church it is civilizer. 1t, too. is fast
becoming magazine and the mOnthlies are
feeling the effect of its progress.
The best talent in the country is gong into
the Sunday morning newspapers. The re-
turns are better and quicker than with the
magazines. There is more life and spirit in
touching the public sense quickly and often
than by the old-fashioned methods, so long
the careful writer's only hope. For this
reason to-day, for the first time in many
months, shake off the dust of repose, move
out into the busy world and speak to the
people in my native tongue, and with a
heart full of generous hopes for the success
of my task.
THE FINANCIAL DREAM.
It is really strange awakening. When
Invent into secluSion St. Paul was one of
the drugs of the stock market. 1t is now
its yeast, its enlivening force. Every one
in New York is in the mist as to its future.
For the first time the West is running Wall
street 1t is well known that Phil Armour
is pulling the string that sends the stock up
or down three or four points during each
twenty-four hours Men are making and
losing great deal of money in these Gu
rOus fiuctuations-a good deal as the gam
bier at a faro bank fits up and down in
fortune at the caprice of the cards.
An old operator on the street said to me to-
day: armour is the boldest gambler that
has ever appeared on change He is a
wonderful man. His success is due to the
Ill the Eastern operators, including Jay
Gould and all the rest of the big fish, get
heir friends in and when the squeeze
comes sell them out at their pleasure. For
his reason they have lost good deal of
;heir following, and Eastern people are timid
about stock SpeculationS. AT the moment
when this sensitive feeling was at its
height and stocks were a drug, Armour
appeared as an operator in St. Paul and it
gave the market boost such as it has not
known for a long time. When Armour
lifted st. Paul up all other securities fol-
lowed it regardless of their value. This
bold move by this Western man forced the
banks here to loan money on easy terms
and the result is a boom. Currency is
plentiful, but as feveriSh as the market.
Every one is waiting for a crash,
But it depends entirely upon Mr.. Armours
conclusions. No one here knows what he
is going to do, or when he is going to act.
/ do not believe there is any reason for the
present condition of things. Why, l had a
tin box full of securities that had written
I'D to profit and loss. This rise in the mar
ket has cleaned them out at good profit.
Plenty of other firms have had the same eX-
perience. Somebody must have these Sc
curities. Ny opinion is that Mr.. Armour
has got a big flock of lambs from Europe
in his fold, and that he will
shear them at his leisure. He has touched
st. Paul with his magic hand, and except
Jersey Central it is the most feverish stock
In the market.
ANOTHER STRANGER.
Speaking of Jersey Central reminds me
that Robert Garrett is the eastern mercury
OF the stock market. Every man you meet
VIII say: Tell me what Phil Armour and
Bob Garrett will do and will make for
tune. IhlS young man, who is at the head
of the Baltimore & Ohio railroad.
has been playing with Jersey Central
to get an entrance into New York. and
this has sent the stocks up and down sew
eral points every twenty-four hours. Just
now Garrett is of more Importance and a
greater sensation in this region than all the
railroad presidents put together. remem-
Der him when he was quite a lad. and his
father was just introducing him to railroad
affairs. About 1874 he made him president
of a little railroad twenty-six miles long,
running from HarisonDurg to Staunton in the
Valley OF Virginia. He did not make much
of a success of that venture. and the business
men who sat in his board of directors did
not regard him as cry bright young man.
But experience has brought him strength
and just now he is the king in all this neck
of the woods. Millions wait upon his
nod and it takes pretty level head to
keep from being largely swelled with the
amount of sugar he has blown in his ear
every day by the thousands of tuft hunters.
Mr.. Garrett's Importance is likely to be
lasting. He has railroad every inch of
which makes money, and with it nearly
$50, 900 of surplus in the treasury. 1t
is an easy job. therefore, for them to an
noy these other magnates whose roads are
in debt or are carrying millions of dollars of