The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-10-04

morning, and there seems 20 be good
grounds for the belief that the bull pools
their specialues rather literally. A rnem-
Der Of a Broad street commission house
made the statement last evening that his
firm had handled more new business than
on any day during the past sl, months,
to buy stocks. Sentiment changes 50 often
in Wall street that it IS very difficult TO
gauge the situation correctly for more
than four hours. but Il Is evident the mar
ket wants to advance and would respond
readily and generously 20 support from
the proper sources. Whle some OF tho
small fry are trying to scare holders out
Of their securities by picturing an sorts of
calamities in the event q political revQ-
luton. sensible men refuse TO take such
a gloomy view. The important considera-
ton IN connection with the political Quea-
ton Is whether the actual holders Of
stocks viii allow themselves 20 be scared
BY a phantom should Bryan be elected.
a contingency quite improbable. the mar
ket VIII undoubtedly experience "a livey
shaking up, but the effect viii soon pass
over and bargain hunters viii flock into
Wall street i'm sufficiently large numbers
to absorb everything IN sight one OF the
most ridiculous arguments yet advanced
to bear the market Us that the presence
Of Bryan in this city about the middle
of the month Will spread CONSERVATION ia
the ranks Of the Republicans and be the
signal for a savage attack upon the whole
list. The public Is quite willing 10 begin
active operations, but is deferred from do
ing so by the speculator pesslnlstic
opinion being sent out from Wall street.
A great many are waiting Tor "a b e
slump. but they are likely to have a long
wait The right thing TO do at this par
ticuiar time IS TO try to create feeling
Of confidence every where. without cun-
fidepce there is nothing LETT upon which
to build the foundation Of a permanent
bull market
a meeting OF the Steel and Wire com
pany is scheduled for tolay- reduction
in the dividend is looked for. insiders
have been selling the stock freely Tor
some days and the natural Inference that
todays meeting viii develop something
decidedly unfavorable.
Although the advices from Chicago on
Peoples Gas are again very bearish.
sell the stock as thty were short time
ago. II certainly looks as if everything
possible would be done 20 depress the
shares. The company viii be swamped
with litigation. and the outcome will
probably be "A material reduction ln the
price Of its product If IL is compelled to
furnish gas at the rate of rs cents per
thousand IL viii not be long till there
Will be no dividend.
Buy Sugar on breaks like that Of yes-
terday. They simply encourage short
selling that everybody knows viii lead
into bull market Buy Uuniou Pacific
proved demand for Atchisous. Southern
Pacific, St. Louis g. Southwestern pre-
ferred and Northern Pacific common. In
the latter good sized orders TO buy are
noticeable.
Sterling exchange rules weak and the
probability of gold coming from Europe
IS quite generally circulated. A movement
Of this kind would start a small-sized
boom in the stock market and spectators
would forget all about the coming elec-
ton. r. N. HUDSON.