The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-10-30
New york Uptown ooasin.

Furnished by J. c. Goings Commission
Company, members Chicago Board of
Trade. Topeka
New York, Oct. 3o.-As a result of yes
terdays heavy liquidation there is little
bull enthusiasm IN evidence. The leading
holders have disposed of large lines of
their favorites and the bears now see
chance for an opening. Speculation shows
a considerable falling OF compared with
last week and the number of outside or
ders being disappointingly small The
trend of local sentiment Is Enthusiastically
in favor of lower prices and If the bull
leaders do not extend the market liberal
assistance, further decline of from to 5
same demand for stocks that existed last
fewer VIII be buying orders as it
the public will not buy securities in
fns declining market marx, Et,yeryb9dy catches
vancing. but 1t is only the shrewd eXper-
fenced speeulator who takes advantage.
That it Will be difficult to start another bull
movement like the one just eliminated is
an admitted fact. It can not be done be-
not assume the risk Of being Caught on
the wrong side with a. big load of stocks.
given a surprise on November 6, it is not
impossible. There will be thorough
at the expense Of values. What viii r1 oc-
cur after the election will depend entirely
upon the verdict Of the voters. Later in
the week we shall see whether the big
men who are positive that Mckinley win
succeed himself will have the courage to
back their convictions by buying stocks.
If they take the market in hand a ma
terfal rise all through the list will be the
consequence. A member of a large com
mission house in Broad street who has
the friendship of a leading Republican
politician of this state is reported to have
attended an important conference of the
political lights of all grades on Saturday
night at which the recent bull movement
in stocks was thoroughly discussed. 1t
advance had been started too early and
that its effect on the local situation was
most harmful, because it led the general
public to believe AcKinley's election was
an assured fact and on this account many
people might not deem 1t necessary to 20
to the polls It was urged that the par
ties who were boosting stocks be asked to
suspend operations until after the election
III order to offset feeling of confidence in
the result now so conspicuous in nearly
every section of the country Before the
conference ended it was agreed that every
influence be brought to bear to prevent
the seeming apathy of bull leaders. The
programme outlined is to allow values
TO work lower and some of the most
tive traders on the Dull side have. so it is
stated, consented to keep out Of the game
While this story many may not believe, it
Is vouched for by one of the best authorf-
be overlooked that Wormser and his fol-
lowing are opposed to any further ad-
do not believe the market will stand any
more bulling at present and for this rea-
son they are selling the list on every up
turn The bulge in Northern Pacific was
caused by the revival of the report that
the road had passed into the control of
the Great Northern. Unless the dividend
quite improbable, a decided slump is
bound to occur in the not distant future
as i'll away above its worth. The steel
stocks act heavy and are a sale on every
show Of strength In fact the best
Judges of the market recommend sales Of
the whole list on the advances.
II. N. NJ