St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-10

will not be injurious to business interests;
neither will any hardship result In the event
OF the measure being killed, for that will
merely continue the present tariff law, which
would be no great injury excepting as a NOR
LITIGATION to the theoretical free traders.
What is really wanted by the American peo-
pie is to pass without further disastrous de-
lay the amended tariff measure, or entirely
abandon it, SO that the business people can
put their full machinery at work again and
give work to the army of unemployed Ia
borers, and thereby start new era of pros.
perity which all conditions are now favorable
towards"
The undercurrent Of political feeling is
apparent in this expression of opinion, but
it is hard to avoid serious bias on account of
the paralysis of business, caused, to certain
extent, by Congressional inaction. Then
again Mr.. Clews has felt "the sings and
arrows of outrageous fortune" as related in
his bulky volume, "'Twenty-eight Years in
Wall Street. and gives his clients the benefit
of dearly bought experience.
OF a different kidney is the well established
firm of Chardon Co., bankers. The senior
member of that firm made fortune in the
SAesSS
but that loss is the public gain, for in the
depths of his despair he discovered system
of "beating the game on Wall street which
is figured out to a mathematical certainty.
ALI that fellow must have in order to sue.
coed according to that system-not patented
is a long purse, Job-like patience, and faith.
Christian can win heaven simply by means
of the last requisite.
The positive route to prosperity on Wall
street is by the way OF the royal road to learn
ing, perhaps. Several smart uptown fellows,
tired of waiting for the good old times to be
revived, have discovered way to beat the
bucket shops on New street, but they are not
buying Delmonico luncheons with the pro-
ceeds thereof; they are yet to be blessed with
quickly won pelf. The man with pointers on
the market "from the inside is actively
seeking for credulous customers. For
small stipend he will disclose that which he
has been told by trusted official, say of the
Sugar Trust, but he gives the contrary point
to the other fellow who buys the profound
secret. Of course one or the other prediction
proves correct, and the tout proceeds to fleece
the fortunate man second time.
These are every day phases Of life on Wall
street, but the real condition of business
among about five thousand stock brokers is
lamentable in the extreme. There are ne
signs Of business Improvement of sufficient
permanencyto encourage speculation, and, il
current railway earnings are to be taken as 8
criterion, no decided recovery of activity cal
be expected for months to come. The pres.
ent condition of the stock market has been
ikened to Hades-those who are in would
like to be out and the outsiders are satisfied
to stay where they are. Dividends have been
forced in many cases by economies which are
not wise or legitimate; this is merely defer
ring the time for diminished or passed diyi-
dends. .l-s-e--- 1850
With three-f1fthS of the vast railroad sys-
TENS of tho United States in the hands
of receivers, the question recurs to the
minds of prudent investors: where are We
aty' As the prosperity of the country
depends mainly on the condition of the
farmer, the political economist finds little
encouragement in the fact that wheat is
selling to-day in Chicago under sixty cents
bushel; tobacco, another valuable staple of
the Middle and Western States, is slow of
sale at prices far below the cost of produce
ton. As the preceding Tariff bill dominates
the opinions of merchants, a symptom of a
purpose to pass any sort of modification of
the Wilson bill by Congress would be hailed
as the harbinger of the good time coming
Then a sentimental feeling conioined with
the plethora of idle capital and the starting
up of factories, mines, and mills would exer-
else a salutary influence on Wall street, and
cause such a shaking up of dry bones as to
warm the cookies of brokers' hearts and make
the very exchanges skip with JOY.
$50 mote it be" echo the idle brokers.
LEVY