Telegram-herald., 1890-11-20
TEE OBSERVER


The markets are very asEse0s ana
sensitive he level 81 ssl.ing VAl4es
u gran saa pzovs.esas las materially
lsssrs4 wtAin tie past fss days. ia
syupafey sssA ti4s EeayE efe2xs IL
stoeks. both 10 he United states ena
Europe. Wheat nAs actually advances
in Bog .al4. etilS IS fetr0<s 2as.1 ta1st
1sFe. Tat tae decline = aikosktner
= eoosea asaes Of tfls lafs ele1tion Hna
se&Sness aEa nnsuc Al ssrl1gehef ta4f
stfec le4 b5la, : evident, fEoni G. tstt
thag lne rs1leal condition la s. re Ism
geaefNl pTo1uee we're Fatatf s-foaiS
than others .ses previous ~ tht siee1iSa-
Toe sls.ois supply Shows A. unusually
bgDt increase tor tals TIME OF year.
fae tot3i : 1000 DO busDe .ess taza
that " twelve months sgo, aud YET TIE
gsndeney = dosRsard.
Mheat IA DetOt VAS 50 cents =
0usael yesterday. The tzkings % rOur
GA the down taFD have been brisk
enough - indicate the presence ~ ilm-
tied orders 0n the seao0Ard. Ine de-
uiaua Tor corn and oats continues sN-
celieat. Damp weather seems 10 Gauss
further reduction OF next seasons
crops. The crop OF last year e said 10
De . third larger thsn The incoming
one, having it ~ be Inferred that tue
supp.y next summer aud fail Is going
- oe scaut. one especially II Ne have
much hard water Seather.
TIE movement 81 pork does not
seem large enough 10 be Affective on
thv trade, aud the qualify does not
favor tue making OF mess pork III other
than small quantities. 50 that there j.
nothing but the fact OF good stocks OF
product 70 weigh on the market. In
fact there IS no inherent reason Ter
weakness anywhere, Yet IL exists.
There i little assurance OF strength
m the near future, unless the money
market Will grow easier. IL looks now
as II lt Was Working that way. But
capital Is timld and likely 10 remain go,
While the first signs of returning conn
dence will undoubtedly be investments
~ properties that have shrunk much
more than wheat, flour Or pork.
Those who have watched the results
OF similar actions III years gone by,
know how tardy Is the return IN specuIa-
/ tive strength ~ any direction attercon-
! tidence has been SO completely lost.
I There is no exact parallel from which
/ one can reason closely, rs regards cor
rect details IN the condition OF things.
Speculation in SILVER has received q
| bad set back, with large quantities still
/ held, waiting for 4 favorable turn Ia
1 the market 10 be unioAded. lt may
receive Stimulus from the threat OF
| legislation tor free coinage but even 4
| reasonable prospect of that measure
| gong through would tail on blunted
| senslblity, brought about by recent
actions caused by the few failures and
/ consequent losses.
The droppngs Of so much money
| through bad investments in Otuer
| lands, will not only make the foreign
/ ers tmld, but may have serious effect
on the buying power. by partially clos
| INC some OF the industries which have
/ kept the wage-earners in Great Britain
! France and Germany active during the
| past few years. There is room for APP
! pretending something OF the same
/ kind in the United States.
The steep reduction IN the selling
values of properties, especially stocks,
is legitimately due TO the poor outlook
! for earnings, because of the dropping
L NNb VI ~ NJ POI NNlAb. Ia NAOt'
| volume; tins can not help but act as I
drag on many lines of manufacture.
| The work of furnishing railroad sup
| plies may be expected TO be the first to
/ suffer; this will lead into different
channels, which Will naturally carry
with it a sympathetic influence on
many more industries. The natural
result Will be a lessening of the pur-
| ch9sing power of consumers, which
would make business comparatively
/ flat for some time TO come.
We need confidence in our fellow
beings and business men. Without ii
business cannot be conducted success
fully.
The men who in the past have given
the largest sums of money for the
/ building up and bringing before the
/ public at large, our city and Its many