The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-11-08

New York, Nov. THE elections had
less effect upon the stock market than
most people anticipated. A theory had
taken hold of traders that the election
of Mcclellan for Mayor of New York
would be a signal for a break in prices.
This idea was predicated on the as
sumption that a Democratic victory in
the premier city of the country might
presage a change in national admins
tration and endanger stability of val
ues. The markets action did not sup
port this conclusion. The result in
strong Republican states apparently
offset the election in New York city.
This great municipality is normally
Democratic by 10000 to 100000 major
ity. and the election of Mr.. Mcclellan
is held to mean merely a return to nor
NAL political conditions. From mar
ket view point it would appear that
there is no broadspread radical change
in sentiment, and the count of the bal
lots leaves matters about as they
were.
It is a far-cry to the presidential
campaign next year, but representa-
tives of the great business interests
which center in Wall street are much
concerned over the political outlook
and speculation as to the probable
course of political events already en-
tiers largely into Wall street discussion
these days. There is unquestionably
in Wall street prejudice against Mr..
Roosevelt, but along with this feeling
there is a. realization that his chances
for denomination are Overwhelmingly
favorable. A great many representa-
lives of conservative interests would
like to see some one else nominated by
the Republicans, but they do not see
how the thing can be done. They are
not yet prepared to say that they are
or win be reconciled to his renomina-
ton, and consequently they are taking
unusually active interest in the talk
about Democratic candidates. The ma
iority preference seems to incline to-
wards Senator German of Maryland,
and as between that gentleman and
the present occupant of the White
House, many who have hitherto classed
themselves as Republicans would be
disposed to shift political front. How
strong this feeling is there are no
means at present of determining, but
it has considerable force.s Mayor-elect
Mcclellan must also be counted as a
possibility. w. r. Hearst is heading
a vigorous movement on behalf of the
younger Democracy, against the ten
Ciency to have any of the old wheel
horses for standard bearer. and he ap-
pears to be making some Roadway in
that direction. The Hearst movement
is distinctly distasteful to the hnan-
cial interests which have hitherto ex-
ercised a more or less potent influence
IN shaping conventions, platforms and
nominations. 1t is felt that the next
presidential campaign is a proper, legi-
innate and timely subject for thought
full consideration. as a market factor.
That ii will have direct and potent
bearing on prices is already admitted
IN all quarters.
Clearly there is less friction now be-
tween the giants Of Wall street than
there was a year ago. The element of
over speculation has to a very large
extent been eliminated from the Sit
uation and the spirit of conflict seems
70 have died out. 1t is the habit Of
the street to refer to the anti Nor
gan party as the Rockefeller or Stand
ard oil party, while as matter Of
fact, the STANDARD Oil people are ONLY
members OF the opposition. Many con-