The evening world., 1893-10-31
BEARS FORCE PRICES DOWN..
No Boom in Stocks Followed
Repeal BY the Senate.
Henry Cl,w, Thinks that B~usines,
VIII Improve.

The repeal Of the sherman Silver law
was vigorously discussed in Wall street
to-day, and the belief obtained that the
effect on The markets for securities
would be most favorable.
Some of the smaller shorts were par.
ticularly nervous and paid higher prices
for stocks than those ruling at the close
Of the Exchange Yesterday.
The greatest curiosity was manifested
as To- the manner in which the, news
would he received in LOndo To saw
that when the early cables brought
materially lower ,Frtce5, brokers and
spectators We're Disguised, is - pui !;
mildly.
The quotations from abroad. as usual.
We're received long before the opening Of
our market, and a break was set down
as almost certain.
Those who Keep a close watch on ne
markets say that there Is no doubt mat
the bears had "A well-laid plan to break
tnc force OF the success Of the repeal
by knocking prices in London, hoping
that this would dcmoraliZe holders here;
The prevailing opinion IN financial
circles to-day is that the repeal Of the
silver clause Is certain to be followed
by an improved feeling: and greater oc-
tivity in all branches Of business.
Some thought. that the stock market
did not respond to the expected boom
this morning. because the action of IN"
Senate had been fully discounted in tn"
advance of the past few days, and that
those who bought for the rise were
realizing.
emit ~! Is s, only Z nix %t'l md n%Trg, s s%in 9nn Wlll
suon eXpeud its force, and then the
market will settle down upon "A solid
basis, with n prospect of gradua! but
certain Improvement.
This menace which has threatened
the value OF our securities in the mar
kcts OF the world for - long a time has
Jepn removed. II New York instead Of
pcing a mere local market, IL going now
to become again one of the worlds mar
ket::
ton for good will inevitably result In a
restoration OF confidence In all branches
OF business. and from this time on we
may expect to see things pick up.
II do not anticipate any serious dis
turbance from the agitation in Congress
OF the tariff question. That has been
m~inished production in all manufacture
ing industries.
"Stock OF goods in all branches of
trade are at the lowest point; ana the
~ to any sign of returning commence
So long as the ~soundness Of the cur
renGy is assured there VIII be no danger
I'VE have now got what We wanted,
and ought to be satisfied. tn business
Of the country has been drifting abouI
like a ship without Its ruaaer; nov
60 on with their business and exercise
their Judgment" -,
Addison Commack, the prominent wal
street operator. said this morning:
when the bear, panic fairy starte'
last May, everybody looked after II rea'
sonahle period for prices to stop de
% from 3, to ! points were freely pre-
dicted-and looked for, h pres
sure to sell was checked from time e
time. and most of the active shares die
recover from l-2 to l l-2 per cent.
These advances. however, only served
as ar impetus for q further N
ming. the other way now. While ! dc
not feel bullish personally, | do not look
for marked declines.
, "Instead Of having reactions OF : t.
= 10 points, as many of the more pro
nounced operators seem TO think neces
| sary, we may nave little sethacks, hu
these will not run to any extent for III,
= reason that buying orders will checl
the decline as effeCtualiy aS sellini
orders stopped the advances a few
. "There are many facts to he consid
f. cred in connection with the future of th'
market. The gold in the Treasury
amounts to $4,000 M in round numbers
/. silver certificates are to be taken car
t OF.
t ''rhe Government will p obahly issu,
[ ponds, hut viii Europe let us drain l
: of goll' We should have no troubi
Of disposing Of bonds here, but in sell
); ing government to our " people, W.
, il would simply be a matter Of ABSORB
[ ton. We should he draining up tn'
gold already in the country, assuming
Q laced elsewhere than In the Enitei
: tdte'.
There is this to be said in our favor
n exports have been falling off. If econ
= omies are still encouraged the balance o
trade will he found in our avor Ate
Jan. l w shall not be in a position t,
;shrr hi, o N"ry own mu s,ock Er wi1i be ror iow Sne and rfn S%
=, crops are poor. To the extent of con