The Birmingham age-herald., 1903-11-08
GOSSIP FROM NEW YORK Marhol Predicts Dull Market for One Year and Then
 Rise in Vaues-Fortunes 10 be Made in Three Years
BY JoH N MARTHoL.

New York, November 6.-For the past five years prosperity has been obtrusive. It has filled the stores with purchasers to whom no price was prohibitive the theaters with gay dressed throngs which caused the erection of more temples to the Muses and the restaurants to over flowing. And now, even at this hour in the new season, comes a wall from man agers that audiences are smaller; from restaurants that dinners are not so nu- merous and from the stores that GUS toners are fewer and more given to ask ing the price. Such are the symptoms of a monetary reaction. It is not wholly due to Wall street influences The pro longed building strike tied Up capital and leaving labor unemployed has been a eontributory cause as well as a general feeling that the days and nights of a golden period are over. It is said that capital is timid that is true, but equal- ly true is 1t that there Is no barometer to show the set of the financial wind equal to the people who live to spend money and enjoy the heeting moments. And these people evidently intend to re- trench
 For over a year l have at various times called attention to the promotion craze" and to the unstable financial system which followed in it's wake. These were the direct outcome of prosperity. h. genious men magnified prosperity, capi- talized optimistic dreams, and endeavor- ed to hand them to all the people through the medium of the Certificate factory. Or to put it another way, Wall street men endeavored to gather in the small profits of a million individuals scattered through the United States by handing to them high priced certificates in industri- al and railroad organizations. l predict ed the decline which would, and has ensued. Those who were bears" and stayed bears" have made fortunes. l now believe the signs of the times are as clear as they were one year ago. From now until the Presidential election one year hence. the market for stocks will be dull. The fluctuations in prices will be slight upward and downward, sec saving until the vote is boiled and count ed. The lowest prices will prevail in November, 1904, and then there will be a strong upward tendency. Fortunes can be made within three years from the present time on the bull side on we'll margned stocks which are now cheap.
 An interesting fact came out during the late political contest namely, that the colored vote in the city amounts to the significant figures of over 60,000. At least one-half of them never saw the south, and care nothing whatever about the race question in that section As a rule, the well-educated colored men are repubi- cans, but they do not control their breth- ren, thousands of whom vote the demo- cratic ticket. The Low administration completely ignored the ambitious, aspir- ing negroes, and their chance for revenge came when very earnest appeals were made for their support. Croker was the first Tammany leader to encourage the formation of colored democratic clubs, and their growth under the Wig wam politicians has been steady. Black men get very few offices from the re- publican party in this city
 The articles of luxury exposed to sale