The Brunswick daily news. [volume] (Brunswick, Ga.) 1903-1906, 1903-08-04

''N'H Hb'"' W. - i'A'+Il.' i'f'y 'Aif7 '''''
tiles have fallen with those that have
paid dividends. Industries and
railroads alike have felt the pressure
uf continuous STREAM of liquidation
and prices in almost every instance
have reached new low levels.
During this heavy shriukage there
have been several failures in Wall
street, two rather important oncs oc-
curing toward the close of the past
week, and there have Deen' numerous
rumors of financial trubles and of
more important stock houses going 10
the wall unless aid was Forthcoming
The big insiders have done what they
could as a rule TO stem the tide, but
they have failed, and failed most sig
nally Nobody has satisfactorily eX
planned the cause of all this shrink
age, although everybody In the street
has been asking his neigbbor the reas
on for it.
In striking contrast with conditions
prevailing in the street" has been the
feeling of confidence that has been
general all over this country. ont
siders, except those trading in stocks
or those fortunate enough To hOlu
IA few stock certificates, have not
asked amy questions ABOUT the cause
OF the declines in Wall street. They
have not had to concern Themselves
in the least with the shrinkage OF
values there. and they have certainly
failed to have any effect on general
Einahc.al conditions. throughout the
country
Railroad earnings continue Larger
than ever at this time of the year
Every industry is fully engaged WAT"
the exception of the cotton mllilns
business. which is temporarily unGc.
the effect OF a corner in the raw
material and an artificial range o..
roiccs. Regular commercial failure
during the past few months OF de
preston in Wall street have bee
fewer than in the corresponding pe-
ripd in other years. There is pieAty
OF money i'll the north, south, cas-
and west for all commercial aud tr;lu.
purposes, with the south particularly
long on coin at low rates oI interest,".
individual deposits in the banks o
the country are at the highest Level
IN the history OF the Umted states.
There is a feeling oil confidence eN-
erywhe New Industries are urlhe
started in the very face oil the SHRINK
age in value OF some OF the industrial
shares already IN existence, au@
these are meeting with IrOeral en-
enlargement. kmwoaGs are lncrras
ing THEM capltai stochs, buying aouI
donal motive power ana equipment
uoubleIracklng their lines ana pa,
ing millions oI dollars - the huIluui,
OF new lines and imprc,ms lno.s,
already in operation. Only iHst "Np-.
me Pennsylvania railroad stucAu, 4,.
ers over subscribed al ISSUE u So.
1000 III bonds without jue ald 81,
the underwriting syndicate. d. tnousn
nad been the matter with Mau stree,
and Hne ccterte there wOIcn once
controlled the financial pulse ot tnr
United States General CONSUMPTION
is s,ul outrunnanS 2roducuop ana
meantime the imports are on A stead
my increasing scale
All OF this can have butt ona mean
lig, and that is that Wall street h2,
lost its former prestige =" tao ia
rometer OF financial conditions IN The
United States
The big fellows in the street maS
struggle among themselves. gain TEN
porary victories on perchauce force
each other to the wall and values
OF securities may fajl AT au almost
Uncomfortable rate, but meantime bus
mess continues on the even tenor OF
its way as though the street" with
It's struggles and its victories. We're
not 10 eSgekeace.