The Savannah morning news., 1902-04-06

met OH the llOOT Oh the STOCK Exchange
at the opening hour this morning
They were very, very weary. Some
had lost their voices: most of them
seemed to have lost all their interest
in life: pretty much all of them could
have Joined in the "song of the morn
ing AFTER
For my eyes are as holes in a blank
ct burnt.
And my head as the head of three."
The trouble was that somebody
started movement to close the ex-
| change Friday and Saturday so that
all the bankers could go away Thurs
dav and have "a nice quiet rest over
Easter. They went, but somehow they
seemed to have missed the nice, quiet
rest. The strains to Atlantic City and
the boat to Old Point Comfort and
Norfolk were resonant with the sound
of their voices in earnest conversation
with the bar tender. There is no
doubt that an Easter respite is a cheer
ing thing for an over worked broker;
but that which comes afterward is not
so pleasant If the general expression
of the exchange this morning is any
indication. If the exchange could re-
member who it was that started the
vacation scheme, he probably wouldn't
live through the day.
One of the most extraordinary books
ever designed is now being made for a
picked number of stock exchange men,
1t is to be a book of caricatures of
the members. The artists are to be
such we'll known Characteristics as
Bush, Nolan, Archie Gum, Rogers
and Davenport. Each member paws
$500 for his copy of the book, in addi-
ton to which he gets the original draw
ing of himself. There will probably
also be short burlesque biographies Of
the men. After the limited number of
copies of the book have been struck
off the plates will be destroyed. Only
one copy will be sold to each man.
Offers of SIS premium are already be-
ing made for the copies.
Apparently the police ranks are be-
ginning to waver in the excise war.
Yesterday Capt. Foody's men broke in
something like panic, and others will
undoubtedly follow. The announcement
by the authorities that policemen fail
ing to enforce the Sunday closing law
would be held responsible has been a
cause of widespread alarm. So when
one of these busy little birds that go
about disseminating information of
more or less useful nature, whispered
that trouble was brewing in Capt.
F'oody's precinct, the day squad, with
out any orders from the station house,
went out and raided saloons on its own
account. There was some very harsh
language from those who had paid for
protection" Capt. Foody got under
cover and couldn't be found. 1t will
be worth while watching to see in
what precinct the busy little bird will
light next Sunday.
The only incidents in the financial
world of any significance last week
were the disclosures touching the Ma
tional Asphalt, the National Salt Com
panies, and the mistake in the book
keeping of the Evansville and Terre
IIaute Railway. The two industrial
companies has been forced by long
continued dullness to acknowledge; the
Salt Company, heavy losses in assets
for the year; the Asphalt people heavy
oapita1izations. The railroad has been
counting as an asset s., 900, 900 worth
of Evansville and Indianapolis stock,
whereas it should have been carried
as a liability. These petty incidents
show simply that certain financial
plans that might have gone through
with the bull market and suffered fall
ures which might have been disastrous
in a big bear market. This long pro-
tracted period of dull immobility of
stocks is proving to be terrible strain
for some people who. are counting for
a continuation of the rise. 1t really
is good news. But we are likely to
have a good deal more of just this
sort of waiting. Business is good,
money is going to be active at good
rates; Europe will probably be draw
ing from us no little gold, and the
whole country is calling for money.
Meanwhile the government has ceased
it's bond purchases and speculation does
not thrive. The longer this condition
lasts, the better basis there will be
for the bull movement in the end, and
the more remote the chances of
sharp fall now. Duane.