The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-31
ananriaI.
Financial Forecast

market has gone backward. The distance between
tho country and the market at this time IL extreme
| and extraordinary. The United States has been
steadily draining other countries Of their gold. That
new wealth has come direct to our farmers. Farm
| ers have few bank accounts and keep currency
Mechanics are generally prosperous now and have
money In pocket 30 II has como about that the
Government. prosperous farmers and cheerful
mechanics have eously tied the currency
| OF the country in stockings pockets and vaults.
Such money has been out OF the reach OF speculs.
| ton.
An exceptional period OF Industrial activity. world.
wide, has developed under natural causes exactly as
predicted in this column years ago. and every ma
ton has business needs at this time for all Its own
| money. and could use more. Necessities and ankle.
ties OF England have intensified this stirin inter
| national finance. These influences and important
Representatives OF congresated capital have also
withheld money from arenas Of speculation.
Months ago It said In this column: Tho specu.
latye public has strength enough to protect itself 40
long as II limits Its operations to sound railway
securities, but has not money enough and IL not
strong enough to carry at the same time tho
seasoned industrial securities" Mr.. Keene and
many others held similar opinions. II the public
had confined It's operations to sound railway shares.
they would have sold higher than they did sell and
would not have fallen back where they now are.
The crush.dovn Of tho general market has dragged
down such shares far beloy the level which
think the earnings and busineSs conditions justify
We have seen a collapse OF speculative ventures
which has caused much loss to underwriters and
those who are backing them, and permitted q com
plete massacre OF those who msnnuvre In Wall
s,r,-t with ,rar,,. h,, ,hi. ,,..o, r,,r. m, Az.
..,., b.v. h.an ,',nN,., A., ..a,,,.,,. 49,. NV,
ropld NOT b.vo oocurr.a In .uo, d..r.. .,.o,, %,
Oh. insu.nr, n, m. po.- u.r n, . AIN. ,h.n ,no,,,
was not within reach ~ tho speculative public
There hes been no serious destruction OF values in
will No, M. NJ p..,. b.. ,,,h,,.,.. o,.,.,, A.,
eona,o, x,,h ,ht. cono,,.Io, n. -. a, .h,.
that IN. r.c.r, ,r,,.h,ow, =, ,a,.,,a.. -.
oAr..a hv rona,,,o,. .,,s,,,,, a., 49,. oa,,.,. No,
do not .yre. with him 7, c,rno, n. a.uon.
.tr,t.J ,ha, N. ,.oor, ~, Il, $1,000 -,
b.y, oocu-r.I 4, Z, L.I No., -. o.. a.. 49,,
war Witch an, ~ .n,..h...,o. III
.,r,,,,v.. =, ,,,,.-,..,,,,, 49,. . -. -,
N ,.,dtns, ,,,, ,rn,. 49,, ,h.,. - >. a. 80
.iiv ,pcr.a,h,c ,h., NJ T..na ~. ,,s.,,.s ~, ~
r.. n On. o,,s,, "a, ,or,h In 50, ,n,..-, NJ
.ay, ,hn. IN. ,rs..n, ,,,,-,,.o, -, ,,,,, a.,
w,il sea-, ,,,it 80, ,,.a,-- -, a., ~
"s,.a.,rou." and ond e., .san....,., :. ,,
,.,,,v =, -, -, -, -, a.. ~ - - -
nr,a,o, d,,,.,,s 90, 81, ,o, A. 80 W
,,.,..,, ,,,s., :, -.t'., ~ .N '''.n 'uoh
pr,sn.r1,xs III. ,,,,n.r. =, a.. ao,,., "
,nuIa,ir,, MA, .nd ,h.,s,. .,s - N'u,
chang. In ,b.,ro,,d,,,,, N,..h.,,. -.
!. ,,,,.t, ,.,,,s =, e. =, s.- - "'o''"'
condition for th. ,nsch.,,c. 49,. u-o.,,.-,,, -,
40, Id, 80. -, - A.. p'' 'se''
a. o,,a,.n.. A.. ~. .,. 'o' W "ns
oor,a.no. -. ....,,,..aI.S .up'of' 'he
will aeon ,or,., ,h. a,..,,,a,,,,. :, NJ, g.
Raj p.,,r. IN 3D., .,,,. ,.-L.,... ,
,.n,,, con -,I,,on. % h,.,..- ~. is1. a'oS' V
tt,a b.. ro,.,,,,, ,.,,,.--, n.,, "s VI '"''
not IN. c,r,o -, ,,a 10. '.n. "'o
OCCASION. vb.n ,b. r,.rt., 81. ~, .'I''
r,.rh,r,. - -. US, 80. 'u." uee'ino
the case At this time All men outside OF wall
Street now within tho reach OF more rnon.v than
has been the case In tho aftermath OF any previou.
panic. This will enable them u secure funds for
new speculation. Most thinking investors b.ll.y.
that tho rsc-nt breakdown OF quotations wa, not
justified by shrinkass OF business and therefore A,
soon IS til, pressure IL removed from III,
speculative market they will have oonnd.nc,
and money to take advantage OF tn. ren.riAhla
situation. II ill require short tim, for Tia
speculative community TO pull itself together gain
new recruits, and accumulate new energy I'm,
a. soon English war necesItie, hay,
lost their influence on our nnAnoos our marke, vii,
begin an advance which will not he q common nd.
vance. but will DO radical aud forceful read iu,t
ment OF values II the re>dcrs OF this column, viu
limit their speculative Investments TO the railway
securities We recommend. they will realize an on.
portrnity for the strategic Of money IN like OF
.Eish will not come dozen times in the coming !
CruNutDs llr position OF American rallNays has
never hc~n 81 strong and so encouraging Gigantic
combinations arc IN view and uitles are being de.
Vclopod as never before. Omaha. for example In, ,
advanced $50 per share since We hrst introduced (,
70 our readers, som. months az, We advised IN. !
exchange Of railway bonds for Pennsylyanla aud .
New York Central shares. Those who followed tbi,
suggestion have rea.tyei IN rights and diyid.pds
more than double the incoIns their bonds would !
have Welded.
When a. PAM sb,r., war. ..,,,,,, i, 49, .,
". urved IN. ,m.rc,, r,,h,,, g., go. - 1850
mon IN, op,cor,. ., ,ns, - '''
written hare: This stock viii thn, fou,s, h ,,,,n
Of many American bou.sn W. ,o. - 49,, -.
mept 10 mako conc.-ptpr pan u.nd,. -. 49,.
common and pr.ferrsl I, ,pv.,,or, vii ,,no..
a, IN, ren.I,aor nj, o.. n..,,,s,
these .b.ros Win .onn,.rc. al ,..,'.,. 80. ..
will r,.l,x. IN opr opir,or an o,,,o,,, 49,. ivy
mari abb. than Ia. b.,n roaiiIaJ .,,,.r 4, ., ~,
or Omaha After s,udIous co,.iJ.-.,on ,,n,, -,
for a period OF YEAR,, and .s,.r c,ns,J.rna !, -.
sysry possible st.ndp,in, l.y,, n,.,c,., an, 10
20, 49,. ,.,i,.,,,.,.' - - :. - - 49,