The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-07-09
WALL ST. FEARED
BRYAN AND HEARST
THEIR PASSING ACTS LIKE A
GREAT SEDATIVE.s
Even "Uncle" Russell Sage Feels Bet
ter-Evidence of Democratic Sanity
Very Reassuring-Plenty Of Money
in the Country and If the Crops
Turn Out Well the Bulls Will Rule
the Street.
Special to The Journal.

Special to The Journal.
New York, July 9.-The passing of
Bryan and Hearst at st. Louis has acted
like a great sedative to Wall street.
Nothing like it has ever been witnessed
before. The calm prevailing is equal to
a whole years product Of soothing syrup.
Even Russell Sage, with the heavy load
of responsibility and $100,0000O0 resting
upon him, feels lighter and happier. Over
a year ago Uncle Russell, with the keen
foresight which his "a years had given
him, sounded the warning Of coming
trouble, and trouble came. Now he sees
a large rift in the heavens, and says the
future will be bright. providing that eau
ton is used and manipulation stopped.
Honest business is what this country now
needs. The big crops in the fields please
Uncle Russell very much, and with fine
weather for the next few months, he says,
the United States will have a new era
of prosperity opened before it.
OF course, with this view, every one in
the financial world agrees. Bryan and
| Hearst were regarded as two gorgonian
monsters ready to pounce upon values.
| Now that they are harmless-at least,
| so far as the immediate future is con-
| cerned, and solid, safe and conservative
candidate has been placed before the peo-
pie by the democratic party, confidence
has been restored as no other cir
cumstance or series of circumstances
could have restored it. In short, moth
ing is to be feared from either polit-
ical party and the success of either will
not be a menace to trade and commerce
Hence the quiet and peaceful repose of
| Wall street.
Some persons assert that Wall street
is committed to Parker as regards the
campaign funds, owing to the fact that
| August Belmont has 50 conspicuously
promoted his candidacy, but Of this moth
ing definite is known. The truth prob
ably is that those who favor democratic
policies will contribute freely toward
Parkers success, while those who favor
republican men and measures will as free.
l ly contribute to the Roosevelt fund.
With regard to the large increase O.
money in circulation in the United States
as shown by the United States treasury
reports, republican authority says
This fact must sicken the souls Of tn,
Bryan element Of the democratic party
as 1t has been their constant cry tina
there Is not enough money in the coun
try, but the f1gures-$12, 100000 increas
last month and $133, 0O0 900 since last Jul,
will prove more than welcome to tn,
business men and financiers of the coun
try, especially large amounts Of gol,
. have been exported. The indications ar
that there will be no disturbance in tn,
money market when the time comes t,
move the crops"
|
that exports from the United States ar
decreasing. is refuted by. the latest gov
; eminent reports. In the case Of grain
there has been decrease because farm
ers are unable to meet the foreign de
mand, but the decrease is insignificant
AS regards manufactures, there Is con
siderable increase.
! During the past week $3.50 1000, 900 i
dividends and interest was paid at thf
center. and most Of the money is seek
Ing re1nvestment. This accounts for tn
excellent demand for high-class bonds q
q every description.
It Is believed in financial circles tina
when the war ends in the far east som
;, serious questions will come up for set
8 tlement. In what manner they will If
/ feet the financial status no one can pre-
. dict, but In some quarters the feeling pre-
9 walls that grave conditions may arise
u IS. s.. Schroff.