Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-05-11

the small investments credited up to in.
terror points. which were wiped out In
the slump OF Wednesday and Thursday
Much of the apparent loss of the small
spectators has been merely ON paper
Comparatively few of the SPECTATORS
have realized their profits at any stage
q the game. They have Toe the profits
iarked up to them. plus their original
small Investment.
Conservative treasury officials and
ether financial experts say tho lesson
Las been a sautary one. The losses
nave been widespread and the men who
nave lost their money represent every
state and territory in the union, in all
probability. The result viii be gener-
alton cf burnt financial children who
VIII keep away from the fire for some
time to come.
This. II is figured out, means that dur
ing the coming summer and fall surplus
earnings which otherwise would have
gone TO Wall street Will geek safer In
yestment in real estate, legitimate ma NJ
ufaeturing enterprises and safe business
avenues generally
.
domestic finance. ii has hcen n great
blessing to the country that the panic
~ Wall street. temporary tho ii may
nave been, happened IN the spring rath-
er than IN the fail So far as can be
discovered. there has not been Inc
slightest Interruption 10 leg itimnt bust
ness BY the crash in Wall street A
broker here and there has gone to the
wall, aud thousands OF comparatively
I5oor people thruout the country are a
mute poorer than they were. but nor a
single national bank thus far seems "a
have been injured In the slightes, de-
Free by the sudden and enormous
shrinkage OF values on Wall street.
There has been an abundance Of
money not only FOR legitimate an.er-
pfises, but even Tor Wall street opera-
tiHns as we'll. This would nAt have been
me case four months later. The la NJ
panic IN Wall street happened nj ,ne
'line mat money WAS required for the
in9Hemf of crapa, and the result was
q stfingency which did considera bic
Marin 70 farmers, m;innfac luers and
small business lnen. This year4t NJ Wall
street ranie happened AT a ,Inia when
there was plenty OF money and when
people Were preparing for summer va
cations. instead Of for th, heavy fall
and winter trade
So far as can be learned Il, the treas.
ury eenetai business enterprises have
gore along this week in a way which
Indicates that the commercial interests
yeneraiy have learned Of ,he stock pam
e only from tbs newspapers and not
IN rfi m li.xrSun. "a Il .x,s,.,t. Z. y,,4,.
Thirty days age or 80 warnings werc
ssist cut thru tho Washington dis
f,sfehes of The Trlbune That halt
mus, be caiied IN the Wild game or
sieculafiqa IN the interest oflexl,imatc
businsss The temporary 80, back hen
predieted arrived ms week, somewhat
sooner ! han even the cons eryatiye Off
Aciais Hslp gave out the warming 10 the
Tribune had anticipated
The stock market to,ia ). RULED To
such an extent as 10 Indicate n short
period fnigh prices before. there liz an
ptlier s9pinp That there Will he am
other drop IN prices winch may not be
so audften and sensational but VINO h is
LIKELY 81 besnare farSreacfng. seems 10
be anticipated by those wnp are Keep
ing ihcir fingers on ihe iinanctal pulse
~ the country.
The stability OF the commercial psos-
peri,y could not have been gwen a more
severe test than was furnished by the
extraordinary range u prices during
this s.ck Conservative of!iclai.s ~ the
Treasury a4-ert with prea, ppsi,yeness
that jiidicious in v.stnenis inreales, ate
In busin ard industrial enterprises IT
"a legitimate character and IN binds
based en- tbs earning capacity II the
earpofatiSns which issue them VIII
produce larger Profits than ever before
IN the financial history Of the country
The administration people here are
bulls on general prosperity, tho they
have followed the president IN warming
The people nal the property ~ wfiicn
ne Was the advance agent was that
Ethc counter and tho engine room not
or the stock ticker and h. buckle shop.