Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-01-18
NV YORK STOCK.

c1ffcnt WHICH Noulu sweep u1OnaiSuy
GU. OF sxsatence.
NEW YORK STOCK.
In discussing the features of the stock
market Henry Clews says in his weekly
letter OF advice TO correspondents that
60 TAR as the intrinsic merits OF stocks
may affect tho future. there is but one
possible inference. The crops have
already settled that question. The
largely increased earnings and the i'm
proving dividends of the last three
months are but the beginning Of year
Of railroad traffic SURPRISING all prece-
dent. The augmented business OF the
roads 10 an indication OF what may no
expected in the various industries. and
especially those most dependent upon
agriculture, so that as the year pro-
gresses the means available for invest
ment and speculation will steadily in
crease. The Liquidation of farmers
loans. which will increase As the season
advances, will release large amounts of
capital much of which must lind its
way TO Wall street, either for perma-
nent investment or for transient specu-
lation. 1t may be said that already
prices of stocks have advanced suffi-
GENTLY to discount oil these favorable
features. There is truth in this view,
and it would be prudent for those
whose accounts show profits to realize
on them and wait FOR reaction. But,
At the same time, 1t may properly be
kept in mind that. in periods OF specu-
lstive activity, prices arc not apt to be
adjusted, even approximately, to the
intrinsic value of the properties. The
speculative spi Tit IL the most impulsive
and uncomfortable element that inhu-
ences prices; and, when fairly aroused.
II does not stop at the line of intrinsic
value, but Is guided by the limit to
which its own force can carry quota
tions.
ALDERMAN O'DoSSELL announces
that he will not be . candidate for
mayor this spring nor will he make q
canvass for denomination TO be alder
man. Mr.. O'Dcnnell finds the duties
of his Office to be exacting and burden
some, and will relinquish it to devote
bis time 10 business. He is one of the
best democratic aldermen IN the coun-
cil, but it is probable that he has meas
ured the public confidence, which has
been rudely shaken by the shortages
and abuses unearthed in the Offices of
city officials, and hastens to stand from
under the inevitable snowslide sure to
occur 1T the next city election.
The Democratic free traders have
long contended that protection care
fully fosters all trusts and monopolies.
Yet notwithstar ding the fact that the
last congress put sugar on the free list,
a sugar trust, embracing all the re-
fineries in the country, has been
formed. II free sugar permits the
formation of trusts, there is no reason
to believe that free trade would cause
any dimlnutien IN the number.
The sympathy of all classes will 60
out toward the Princess of Wales IN her
intense grief over the death Of Prince
Victor; yet her loss is no more kcenly
felt and her anguish no more intense
than that which has wrencbed the
heartstrings of thousands upon thou
sands OF tender mothers, whose off,
spring were far nobler than the dead
prince, and whose clam TO unselfish
love far greater.
Is the capture by New York police.
men of "Jack the Slasher,' whose
hands we're dripping with the life blood
of drunken victim last evening. an.
other crank is put out or the way OF
doing more harm. How much pleas.
anter IT would be if these mons,rous
devils could be captured and locked UP
before they kill half-dozen or score O.
persons.
w HfSkFh- ftFFER ~ fnS0s 10 50
pear in his true character by "Mc
Gregor" this morning. Ills wild and
improbable schemes to relieve the agri
cultural masses from fancied hank
ruptcy not only stamp him 90 novic,
Ia legislation but also az thorough
bred numbskull. lts brains and no
whiskers that The people demand in tn,
senate.
SENATOR VOORHEES, is referred TO b,
the Lansing Journal ~ "splendio
| democrat" How euphonious tina
word splendid would sound proceed
Ing Soper's name, used there TO deiin,
the excellence of Daniels democracy
But the Journal won't use ii-''not in 1
thousand years"
Ir appears that the crank" whe
haunted the vicinity OF Jay Could
home wanted Jays daughter instead
Of his cash. Whether to consrasulst,
The girl or her father that the fellow j
IN fail cannot be decided until II j
known whether be a 0 eoschman O