Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-11-29
ACKNOWLEDGEMENTS uUnnnnnru uurJul

Sometimes, when the wind Is high a
long, frantic piece Of ticker tape cs-
capes through a brokers' window and
wraps itself fantasticallJ around the
scraggly limbs Of a tree In Trinity
churchyaid
There Is at all times something enls-
motical in the appearance OF old Trim
ity. there whore wall street halts pant
lngly at Broadway but when the mys-
tie language of finance lutters over the
half-obliterated letters on the grave
stones or slaps at the ellegorical ilg-
ures on the bronze doors there rs a
picture of incongruity symbolic, II one
would reason Bit curiously, Of the
strange aloofness and inscrutability OF
the district around the stock exchange.
To 80 presclenty through Wall
street and Nassau and Broad, requires
mastery of language as foreign to the
average uptown person as a Slavic dia-
lect, and knowledge of forces that move
as silently and irreslstlby as the tides.
Even in the busiest 'Shrpools Of this
boiling area there are persons who
speak the language gllbly and yet do
not really know what they are talking
about But khat often happens when
the symbols OF things come in time
TO be priced or feared as the things
themselves.
ASK many n mOneym9ker In Wall
street why the bank statement on such
a day was bad and what a big crop in
Kansas has TO do with money strin-
gency in New York, and he VIII lone
as oracula as Captain cutie asa as
prodigal Of words as Mrs, Eddy; and
you viii then learn that all he knows
is that there is a time to be frightened
and time 10 fly high and jauntily, like
the ticker tape in n gale.
PLETHORA OF PROSPERITY
OF all the movements that influence
the stock market and the money mart,
perhaps the most stupendOus and the
least eXplicable Is that which usually
sets In about the time of the harvests
in the west. The recent furry In Wall
street swhen the government came 10
the relief Of the banks was due, para
doNically enouh, to a plethora of pros
perity
There Is great chain Of cash and
credit connecting New York with the
interior Of the country-a mighty chain
that is In reality as delicate as strand
of peals, Away out In Illinois or Iowa
the farmers buy goods from the cross
roads merchant on credit; the merchant
I'm turn gets credit from the jObber In
Chicago or New York when he stocks
up his store: the iobber gets credit from
the commission merchant and the Inn
porter IN New York. and these In their
turn ger credit the one from the New
York banks and the other from banks
or manufacturers in Europe With the
money which the commission merchant,
for example borrows from New York
bankers. the textile mills are kept run
ming, and the goods are shipped hum
dreds of miles for sale, on credit, to
the people IN hamlets scattered over all
the broad land.
Then comes the moving Of the crops.
The former sell their wheat and corn
and pay the cross roads merchant, who
pays the iobber who settles with the
commission merchant and the importer,
who square up with the banks here and
abroad Large sums Of money must be
shipped 20 carry on these large transact
lions which run into billions OF dollars
IN the aggregate; and the banks are
the links that bear the buckets in this
great carrying machine.
Well the crops having been moved.
the banks IN the west and south find
themselves in possession Of larger de-
posts than they know what to do with
In their local fields. Every one has a
New York bank as correspondent.
and 10 this bank the interior concern
sends its extra cash. for which II re-
ceives interest at per cent and money
becomes plentiful In New York, and
loans are easy and the bank statements
are good.
NEBRASKA IN WALL STREET.
But the harvest season comes around
again; interior banks recall their
loans, because they wi need all the
money they can get TO accommodate
the farmer and the grain buyer In their
transactions; New York banks, find
ing their cash falling low. call in many
loans they have made on stocks and
commercial paper; spectators rush on
20 the door OF the stock exchange 20 sell
railroad shares or other stocks at any
figure they can command and In day
there Is a tumble In the market and
perhaps panic on the street. Thus the
Nebraska farmer sometimes cuts a
wide swath in Wall street when he
doesn't know It.
Capital as Mr. Jerome told some OF
hfe nonpta an tho aast giba tho at ar
evening, Is an arrant, shameless cow
ard II is afraid OF It's own shadow
nervous as n woman, prone 10 SIAM
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