Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-27
/ green salted steers. 60 pounds and
WALL STREET GOSSIP.
Prospective Boom for specuIators-AftI-
tude of the Standard Oil Company.

Prospective Boom for Speculators-Atti-
tude of the Standard Oil Company.
Wall Street Special to John NJ. Oakley 4 Col
NEW YORK, January 25-The speculative
spirit of this country has lain dormant for SO
long that some of us have wondered whether it
might not really pc dead. We have seen
rampant speculation abroad in all kinds of
public companies, but it has struck no respon-
sive cord in the United States where political
influence and financial conditions are more
favorable than elsewhere on the globe. The
generation Of Titans who stalked SO boldly
across the Wall street theater of speculation
appears to have vanished, leaving in their place
only room traders, who are bullish one day and
bearish the next. A stock market to be worth
anything must have tendency, a momentum
and herculean swing to it that is beyond the
daily whims Of purchasers of eighths and
quarters.
Are we now on the eve of such swing in the
pendulum Of speculation? It must be confessed
that indications of it are more positive than for
several years. We hope they are not deceptive.
Easy money is assured for the present unless a
financial crisis in Buenos Ayres, Berlin or Lon
don should run up the rate of sterling ex-
change, which of late has been steadily rising.
to the gold exporting point. It is only our fear
Of foreign financial disaster that restraints US
from enthusiastic hopes Of real live bull
movement
To-days bank statement was phenomenaIly
favorable. showing an actual gain in cash Of
over 81, ,0OO, 600 and net reserve above legal
limits Of $4,000, 900 against deficita few weeks
ago. 1t is hardly necessary to specify particu-
lar stocks In today's business, but Manhattan
and Sugar, the Northern PacifcS and Louis
vile and Nashville were prominent. Some
stocks such for example as Atchison, Canada
Southern. Fort Worth and Denver, Union
Pacific, Oregon TranscOntinental and Western
Union, barely held their advances Of preceding
days, but at the close of the general list to-day
were about on an even line ready for tug Of
war on Monday. The bulls are likely to carry
the day without any difficulty. We think New
England has good prospects Of rise, as the
earnings are increasing and show at the rate Of
over 2 per cent on the common stocks, with
new plans working that will considerably in
crease the profit of operating the road.
Brokers are carrying no petroleum certificates
to speak of, either here or in the oil regions.
The Standard owns all the oil. Just as soon as
some one comes in with the courage of his con-
victions he will find it easy to advance the price
of oil, unless the Standard tests his capacity
by selling him few barrels. They couldn't
afford to part with much of it. If the impetus
one speculator could give the market did not
bring in enough buyers to maintain and further
advance prices we are much mistaken. Only
high prices will bring in buyers because only
high prices will persuade the public that the
commercial side of oil is so strong.
1t is a singular fact that the people in the oil
country are actually bearish on their own COM
modify, not because they fail to recognize the
remarkable inadeQuacy of the oil field to the
demands upon it. but they are bearish, one
might say, solely because they think the Stand
ard doesn't want it to go up, and they believe
that the Standard is OmnipOtent.