The times., 1899-06-05
SITUATION IN WALL STREET.
Much Interest Centred In the Market
This Week.


New York, June Avail Street and the
financial world in general is intensely in
terested in the prospects for the present
week in the stock market.
For about a month bear spectators have
been more or less in control of the security
| market; they have been alert, industrious,
and adroit. They have made the most of
bugaboos manufactured to order. Exter-
minating Western grain harvests has been
one of their minor performances.
On Friday morning came the bear cam
paigns climax. announcement then being
made of the engagement by the chief of
New York's banks of s1,000,0QQ of gold for
export. Among the professional rank and
file publication of this expectation mad the
effect of melting much bearish feeling and
before the market opened for the day Wall
Street was filled with gloomy predictions
of dreadful things that might be brought
about.
Within an hour after the market had
opened, however, marked changes came
into the sentiment of the street; and in
stead of decentralization, actual buoyaney
ruled. They who most count in intiuenc-
ing stock exchange values had become con-
WINGED that finally all that was worst
among bear possibilities was known.
According to independent international
exchange authorities this 100000 gold
shipment was to be rated as an exception
al transaction; in the ordinary Iourse OF
business such a shipment was possible
only at a loss. However this may be- GER
tain it is that Wall Street sentiment was
helped rather than hurt by the incident,
and, along with much covering of short
contracts, the stock market became active
and strong.
One fact made very clear throughout re-
cent stock exchange records has been the
continuous confidence of that part OF the
public which recently bought and still
holds stocks. Scarecrows have not at all
terrified such investors. They have held
on. The little buyers of stocks, having
only the protection of slim margins, were
forced to liquidate; but the great vo.ume
of stocks recently bought by the public
has not been subject to raids or raiders,
the holders of such stocks recognizing the
healthfulness of trade conditions. the evil
dence of widespread prosperity, the almost
universal betterment in national. CONNER
cial, and industrial conditions, have made
investments not as pastime, not for mere
speculation's sake, not at all as gamblers,
but as business men undertaking business
engagements: and thus they hold on con-
fidently.
Recently II has much looked as II proieS-
sional workers to force security market
declines were beginning to recognize the
fact of the staying power OF this new ele
ment in the stock market and res.liency
at the end of the week may not unfairly be
attributed somewhat to this new recogni
ton. Thus, in the vernacuiar of Wall
Street stocks have been 'scraping along
on bottom''-the fact which probably more
than most others has induced covering
transactions upon the part of operators re-
Gently most largely active on the bear side.
From every part of the country con-
! tinues to come the daily record of good
times-capital prospers, labor has salts
factory employment, activity and progress
have succeeded stagnation and losses. Not
in one or two but in practically all busi-
ness quarters the same condition shows.
| The country has good times-this is all
but this is much.