The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-07-20

SATURDAY. July 10.
II Wall street is tsc0pted as n perfect mirror
OF the business Of To country. a calm not I'M
usual at this season, las settled over the entire
country. Trade repfts that are collected
through various channels affirm the accuracy
OF the stock, market reflections OF universal
quietness. To 6e>sprela very large volume of
general business is besp pig transacted but it is
not OF abnormal magnitude The work OF sup
plying the needs OF G5.0no.000 of people Involves
q vast number Of transactions. but as the
people In the aggregate are not undertaking
any new ventures nor engaging In any large
enterprises the transactions referred to must
be considered as entirely routine; and 1t Is
clearly established that the great majority OF
them are barely profitable Railroad building
is at standstill; the only impor-
tant projects In that line now under
way being, the extension OF che Great
Northern. Manitoba system 10 the Pacific
coast and OF the Lehigh Valley system to
Buffalo Uncertainty a TO the larifl and tho
capital In its EFFORTS TO concentrate It's omploy-
ment prevent any spec ~ development in
au"nc" OF these Conditions Ian ors and 1 ITo
motors have tn ned their attention to capital
iHinE and marketing established Industries.
In doing so ihoy huvo taken their cue nom
their English neirLhors, who long ago came to
the conclusion that the worl; OF eupiyn The
necossltie. Of lilo Is one OF tho safest that
This country has become so rich that II en-
JOYS an investment demand OF it, oSn That
demand IL not imputed very much II he gem
eral run OF business Is temporarily unproil Ia
bio, for the reason that there ARE 70 many for
tunes which return an income largely in eX-
cess of the living requirement. Of those who
possess them There is therefore vast
amount Of money received from investments
that Is constantly seeking enrichment, and II
contributes 10 speculation only temporarily
and through Inc loan marriott. Those &c ,umu;;
latlons crcn'e the demand. upon which al! OF
tho recent offerings oil tho securities Of incor-
pOrated i'Gu0lrieS rely Tor success. The
money that goes into those enter
nriseS i not attracted by Stock Exchange
ilnrtuauons; Even Q casual shryeY OF tho
stocks lated on tho EXchhnls" viii comIel the
co Icluslnn that compare i,ely few OF them arc
desirable Us Investments. Tho pnt"ntialites Of
that list however, when spG"u at!Ne era Is
reached have amazed mo ethan Onn generation
Wall ST eet Is as incompelcnt AS m ancient
mariner to pCdlCt when the present calm
will be rOEen by a propItlogS brc 10.
There are many people IN Wall s'reel
TO whom actlytiyISr Q consti'uiionai or necn.
9he sound a. the stock ticker = licensing only
Elen there is harvest 10 be gathered. Thee
IRst are now enjoying life while heir less for
egnate fellows are frettlng and swcltering.
When the days have become cooler and Vari-
adjournment OF Congress, the gathering
OF the crop, and n readJustment o. tho
!. relations between Europe and It's South
American dobtols. the people whose energy
money. and nerve can stimulate q specula'iO
In stocks worth thinking and whiting about
snd under their leadership the present mid
summer dulnesB will speedily be left in the
background Until then patience and frugal
Wastes are virtues that should commSnd them