New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-10
ro,al. 81 cos =. OBI 7,o,4.25o Dec H372
THE WEEK IN WALL STREET

The stock market is In a sensitive condition and
easily Influenced by disturbances Of any sort In
The business world. At the same time there are
few stocks carried margin and Wall Street
houses have put their affairs in shape TO stand the
frequent attacks OF the bears upon stocks and 10
tide their business through the present state Of
uneasness in the Street. The agitation In favor
Of dishonesty now being carried on by the Bryan
ites and freesilver punderers In various parts OF
the country Is hurting business In general. and as
Wall Street notes the ups and downs-principally
downs at presented business II is not unnatural
that the security market should be as sensitive as
the most delicate barometer Owing to business
depression Wall street is sensitive. and when In
such condition INSCRIPTIONS bears of specula
ton do their utmost TO Juggle with prices the
country is now suffering from the evil effects OF
agitation in favor of unwise and unsound imam
cial and economic theories; from the fear by some
that ignorance and lack OF information on the
part Of others. with the determination OF crowd
Of greedy mine-owneis and political tricksters
will prevail the intelligent and patriotic ee-
ment in this country. The force OF natural laws
cannot be overthrown by man or a set or men
Yet this is precisely what the advocates OF free
silver would attempt Superior forces as FAR as
numbers are concerned. may be able 10 compel
Government to attempt TO override natural laws
but that attempt must he unsuccessful. for hu-
man power can never overcome the set laws OF
natural things Voters must be taught 70 realize
this. Il does not seem possible that many voters
do not realize this, and 1t does not seem possible
that the sense and intelligence or the YANKEE
pOpula ton not on par with the sense ana IN
teigence OF the great enlightened countries or
the world The majority Of people undoubtedly
believe that Mr. Mckinley VIII be elected. but
they realize that in the mean time the distressing
ignOrance OF a certain element in this country Is
capable OF working untold harm 10 business In
trests
Agitation on uns)urd financial theories re-
s'rcts and limits business operations. There Is
not lack of value to things which are bought
ana solc. The question Of value Is at present
osregarded. 1t is question Of demand. There
no demand for stocks or bonds or comnodi-
Ties except 10 a small extcnt--which the re-
qprenents of life make necessary-and this de-
mand excludes stocks and bonds and luxuries.
There is no buying power In the stock o. bond
market, and people who are forced Icy business
depression 10 market their securities do 50 at a
sacrifice Some OF the liquidation In stock &C.
counts last week was due TO the request by chi
cagO banks for part Of their balances here for
use In connection with the big speculative fail
ure in Chicago and this resulted In calling OF
outside loans here naturally causing selling ~
stocks Doubt expressed about the forth
coming action II the burlington directors on
the dividend question. and his. with a lower
don and the speculative failure in Chicago as-
sisted prices here toward q lower level There
was an appreciable stinenine of rates in the
skoney market, due 10 an increased demand for
crop movement purposes. and the first transfer
OF money to New-Orlcans to move the cotton
crop was made II will probably not be long
before a good supply Of bills against cotton ex-
ports will be In the market and, although tbs
demand IN tho foreign exchange market is not
urgent Il will be comfortable To have an in
creased supuIy Of commercial offerings on hand
Regarding the demand from the South and West
for money for crop movement brings to mind
the great injury done by certain element In
the South and West to the business interests OF
those parts of the country. inc fopuistic