The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-07-24
HENRY CLENS'
WEEKLY REVIEW
Outlook is Bright Despite
the Strike and DrOuth

New York. July 24-The situation
In Wall street has shown much improve
meut during the week. Heavy liquidation
shifted stocks from weak into strong
hands and resulted IA an important con-
traction in loans aud consequent relief 20
tho money market Tho corn crop DANA
&c. as we showed q week ago. was much
exaggerated and a ls generally acknow-
icdgcd that the crop situation ns "a whole
promises o. he satisfactory. Nevertheless
damage rnmors are likely Go ancct the
corn belt roads at any time and cause
violent fluctuations Better prices VIII
amply repay any damage 90 corn of
which there win Doe mo actual scarcity
ana wheat, of which we hive 90 bumper
crop is sure TO Doe exported largely for
niuug foreign dehcicncica. The crop
scare. therefore is thing 90 bc oNpcct-
cd. though % would cause mo surprise %
much Of the damage were repaired as the
season progresses
Tho resent break in the stock market
enabled many Of the big mon 10 got back
their stocks which had been sold at high-
or prices. Tho semi-panic of last week
camo through weak holders being come
NNlANA 10 IANNNNMAf NliA NAlN nAtfNAH AAAAAA
sold went into strong hands An the big
ciiques are now arrayed IN line again and
wording together on the bull side. so, for
the coming week az least the manlpula-
don viii bo IN the direction of higher
prices
Among the larger local operators and
at the interior cities large measure OF
uquidauon has been accomplished with
IN the last two weeks and tho most im-
portant holders appear TO be now the
railroad magnates who have invested
vory largely IN connection with co-opera-
tive deals yet have been able to realize
only 20 limited extent The interest of
this class lies very decidedly in the main-
tenance of prices. and their supporting
ability is Of course very important; whilst
those who have liquidatcd may be Expect
ed 10 contribute their influence towards
lower prices. The current relations bc-
tween the speculative interests arc there
fore not unlikely 20 develoy a good deal
of active campaigning between tho OPP
posite sides
Tho crop prospects are somewhat below
early expectations. the corn and oat crops
having already suffered serious irjury.
although 1t IS not impossible. as said
above. that the loss may be In some
measure repaired. The unrest in the la
bor market Is having a disturbing effect
upon public confidence Il would seem
ihat the Unions have. by a concerted un- /
derstanding, resolved 10 make the great I
Trust movement the occasion for tho I
Strengthening OF their position and subject /
Ing capital To demands that appear TO the ]
public as somewhat unreasonable The I
liberal attitude latcly shown towards the /
operative classes. as a means of conolliat- /
ing favor towards the great consolida- /
tions. has had the effect OF emboldorug 1
some OF the labor leaders ana the ques-
iion has come to be whether the capital /
stic combinations shall be subjected to
vast consolidated labcr monopoly Tho /
strike against the Steel Corporation Is the /
bohiest challenge with which labor has
ever confronted capital; and IL would .
seem that the last thing that the Trust
can afford 10 show any timidity or oviuce
any disposition towards concession 90 the
present arbitrary demand beyond the
fair and liberal spiri, already shown ANY
spirit of cancellation shown by capital un-
der present conditions can. from the very
nature OF things. have no othor effect
than 60 stimulate aggression from labor
and the recent large voluntary advances
Ia wages have undoubty mad that result
Compromise between tho two sides is im-
possible either the one party or the other
must hold "a distinct ascendancy OF mower.
and Il would seem that we arc yerging
upon the crisis which will determine 4
where the victory shall rest Whilst this
crucial conflict restu in the balance there
can be- no rampant bull stock market