Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-10-30
The Public Fears to Take Any
Part in Stock Deals in
Wallstreet
FOREIGN SITUATION DlsoulETINe
New Workers Somewhat Alarmed Over
London and Paris Developments in
Money Market-stock Exchange in
New York Abandoned to the Profess
sionaIs-Bears Making Raids.

New York Oct 30.-Prices for secur-
tiles again assumed a position OF in
3terest yesterday. Weakness was gem
eral and declines more than ordinary.
AS reflected in the market, the Alneri-
can public Is doing nothing at present
in the way Of purchasing securities, and
the situation has come to be one that
indicates how thoroughly the hundreds
of thousands OF persons who either
constantly or occasionally dabble in
stocks have teen convinced that this is
time to refrain from speculation.
In the last ten years the volume Of
trading in securities on the exchange
has indicated a great surplus Of wealth,
and the spread Of stock speculative
ventures to business and professional
interests which were formerly hardly
aware of the existence of such an In
stitution as the New York stock ex-
change. Reference to 1t was coupled
with the words "stock gambling" But
now the rich merchants of New York.
Chicago and st. Louis, must be put In
the class of those whom they formerly
characterized as people engaged In
game OF chance.
At the present time indications point
toward nothing of consequence in the
way Of rise in prices or an increase
in volume Of business until after the
beginning of the new year. Should the
congressional election next Tuesday go
strongly in favor Of republican candi-
dates it is expected that some improves
ment in values, even II temporary, will
follow. But that once over the situa-
ton will be about as 1t was following
the prospective settlement Of the coal
strike. There was short advance.
followed by apathy, both enforced and
voluntary.
The money situation in Paris and
London is beginning to cause some ap-
Guiding the peasantry, have for years
been accustomed to invest their savings
in rentes or French government bonds.
No one hears of French government
bond being offered in foreign country.
The issues, as put out, are absorbed by
the home people. Surplus French
earnings are kept within the bounda-
ries Of the state. Now, however, owing
to strikes end dissatisfaction with
government policies, the savings de-
positors are beginning to withdraw
funds from banks, and this has so af-
fected the exchange situation that Lon
don has begun to figure on French
bank balances there being drawn down.
AS may be we'll known, British banking
interests do not feel sanguine over the
outlook Of the United States,
and In consequence British investors
are not sending money this way.
In paying out over $2O.0Oo,OOO for
bonds the treasury department at
has practically exhausted
it's ready resources for dealing with the
money situation, and little further help
may be expected from that quarter.The
of new national banks
continues to absorb government bonds
The latter are getting SO scarce and
high priced that their use to secure
Is even now out of the
question, so far as purchasing them in
the open market is concerned.
Exports Of grain, especially corn,
to be slow. The corn crop is
regarded as being at least one month
late, and little in the way Of relief can
be expected thru corn exports before
the beginning Of the year. The fact
that unchartered vessel room here and
due to arrive now amounts to nearly
100000 tons indicates how slow is ex-
pected to be the movement of grain.
The price Of wheat as viewed from
existing conditions promises TO be high
enough to render exports OF that cereal
q matter Of conjecture as to volume.
The demand from Australia, as shown
by exports of the Pacific coast, is q
factor making for higher prices, altho
according to London advices, the home
crop there is not reassuring.