The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1902-11-03
OUR WALL STREET LETTER.
tBy W. @. Nlcholas)


the week preceding important elec.
tions. There IS always some Issue
being fought over which causes dis
turbance and uneasiness among hold
ers of securities apd which 20 a great
er or less degree affect values. The
alleged cause OF discu,et this year is
the thought that democratic me lority
In the next congress ray inspire all
manner OF investigations and action
tending TO disturb the bwiness of the
greater industrial combines and shake
general confidence. lt IS noticeable
that many leading republicans in the
financial district more or less identified
with combines OF various sorts have
been changing their attitude during
last few days AZ the beginning of the
campaign they were Indifferent and fin.
ally openly hostile to the republican
organization because of platform
declarations and utterances by Presi.
dent Roosevelt and others looking to
sharper regulations OF trusts. The ve-
hemence of the democrats along the
same lines seems TO have driven back
into the republican camp many OF
these discontented ones and at this
writing less is heard OF revolt II is
even said that many eleventh hour and
long delayed contributions to the re.
publican campaign fund have turned
up at headquarters. The rich men
who are thus reversing themselves
take the ground that while they are
resentful Of the antitrust attitude OF
the republican leaders they are put in
o position Of choosing between two
evils and as lesser of the two go
back TO the republican party There
is considerable of this talk going on
in the back offices Of the financial dis
trict. What bearing IL may have on
the result is undeterminate at this
juncture.
There Is sufficient uncertainty over
the verdict OF the ballot box next
Tuesday to lend decided interest in
Wall street to the last days of the
campaign. According to accepted
theories hereabouts the result is de-
pendent almost entirely upon the eX-
tent to which apathy and dissat.s.ac.
tion viii keep republican voters away
from the polls.
The professionals expect 20 retain
control of the stock market within
narrow limits until after the election.
They have not attempted latterly to
swing things and have been content
with scalping operations. taking prof
its on the minor flurries, back and
forth. The last six weeks developed
quite an important bear party in the
market. but II seems disinclined just
now 20 take the risk of enlarging its
commitments on the selling side and
is content to stand pat on accounts
as they stand.
Persistent gossip connects the name
of Andrew Carnegie with the Goulds
and Rockefellers in their plans to en-
ter the Eastern field of transportation
against the Vanderbilt and Cassatt
combines IN. Y. Central and Pennsyl-
vania). There is no way OF ascer-
tanning the extent to which Mr.. Carne-
gle is associated with the Goulds and
Rockefellers. but there is apparently
substantial basis for the claim that
he Is financially interested with them
on large scale. II is no secret that
he bears the Pennsylvania railroad a
grudge, and It is also no secret that
It Is a Carnegie characteristic TO feed
his grudges, He has even been known
TO be gluttonous in the feeding. II
history is correctely quoted. It has
gone into fixed beliefs hereabouts that
II was through Mr.. Carnegie that
Goulds steps were first directed into
Pittsburg and that he had the financial
backing OF the great iron master in
that enterprise. That Mr. Carnegie
should have stopped his support at
that point considered extremely i'm.
probable. Nothing would suit Mr.
Carnegie better than TO have a well
organized opposition to the Pennsyl'
yania system which would give 10 the
manufacturing interests OF Western
Pennsylvania and Eastern Ohio a bet
ter outlet TO tidewater for their goods
To the observer on the back seat II
would look as though the giants OF
transportation We're getting ready for
a spectacular fight one OF these days
II is not likely TO come. however, SC
long as all the railroads OF the ooun,
try have more business than they can
/ hanNIa ha gfr ,,.g1i