Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-14
THE "Boos1, IN STOCKS.


Commencing with the day after cleo
tion, and continuing the present
.ine. there has been rush to purchase
stocks in Wall street, and adapting
themselves to the temporary popular
inclination to buy, most of the brokers
and big men ON the street have arrayed
themselves upon the bull side, and are
fostering the purchasing movement TO
the best OF their ability-merely as
matter of business AS Ions as the
public manifests desire to buy, there
can always be found accommodating
holders who are willing to sell, and as
we'll brokers who will cheerfully ard
even enthusiastically take their orders.
1t looks like general steering OF
autumnal lambs. Nothing has trans
pired since the election to warrant
general advance in stocks, save in two
or three instances, like steel stocks,
where some rise may be properly pre-
dicated upon the advance of two dol
lars per ton, and some increase IN Or
ders. and beef trust stocks, an ad-
vance of one cent per pound all along
the line having been ordered. AS to
other industrials, there is no proper
foundation for boom in prices, and
the same remark applies to railroads,
except the coalers, where there is some
basis for an enhanced price consequent
upon the increase in the price OF an
thracite and the, reasonable assurance
of fairly heavy demand following
upon the settlement of the strike. AS
for the remainder of the list-and that
remainder embraces large majority
oftheact stocks-itis time for eau
ton rather than for indiscriminate pur-
chases, and that this statement is war
ranted is shown by the fact that hold
ers are perfectly willing to let the pub
lie purchase all it wishes-at an adj
vanced price. The financial articles in
the metropolitan press are optimistic
to suspicious degree, and the enthusi-
'astic predictions therein made should
carry with them an intimation of eau
ton, and impress upon the unprofes
sional purchaser the value Of sober
second thought.
The following from the New York
Times is a sample boom" article:
The public has come into the stock mar
ket. Manifestations Of this fact are not
only clear they are manifold-so forceful
that most of the professional talent of
Wall street stands daZed. In the volume
of business records are surprising all that
WAL street III the past las ever known.
The registering tickers of the Stock Elk
change have not capacity to keep up with
the rush of new bus hess On various days
during the past week transactions have
gone beyond the two-miliion share mark,
though official entries the tape have
not reached so great a total, 1t being
not at all disguised. however, that fully
one-third. OF the current business was I'M
recorded.
Along with the activity there has been
strength simply phenomenal, Reactions
have been predicted daily by the veterans
of Wall street-but reactions have utterly
refused to come. Over and over again the
professional traders of the Stock En-
change have sold out their long stocks
and gone short using energetic endeavors
10 force set,backs, but there has been
pace which has traTpled over all oprt,si-
ton, and each days chu has presenlt
higher quotations.
Not in spots not lnereiy in stocks whore
exceptional influences count, but through
out the whole market IN Orcramcnt has
been pronounced even tempcstuously.
And this exhibit makes clear beyond cavil
the fact that The public is returned to
Wall street-anu that enthusiastically.
Meantime those important Hc.nc;7i 81
terests that were urging corH,rNatisIn,
the policy of waiting and watching pend
ing election, are amply nlaklng up fog
every minute of former heslttn:'y. StaEch
buiishness shows in fact N virtually every
quarter. At the end of the week only
few professional traders We're willing to
talk at all bearish, and they We're no. in
clined to be rash in action. The short in
.tePest is practically eliminated. t,very-
body is buying stocks''-so runs the decla-
ration ordinarily fashionable in almost
every Wall street office Where commits
sion firms have for months past been
earning less than their office rent they
now enjoy patronage approaching the
height of leadership No honest observer
can doubt the revolution which has come
nto the stock market following the good
news OF election day.
Whether the prevalent free and easy
way of buying stocks by wholesale and in
hurry is safe is not much debated-nine
out OF ten men in the Stock Exchange
district being enthusiastically sure that a
bag and lasting boom is right at hand,
The present buoyance is largely fic-
titious. and probably will be speedily
tOiiOWSu ny q tuiu IL INC OtA0i ul1SS-
ticn, in which case those now glee-
fully parting with stocks win be
equally anxious to buy them back,
profting both in the present selling
and the future buying, at the expense
of credulous investors.
1t is the distinct impression of far
sighted men that now is good time to
sell stocks, but scarcely the opportune
moment to buy, with any reasonable
expectation of realizing profit through
Eany further increase in values. To go
"A little slow, under present conditions,
would appear to be the part OF wis
dom.
o. -