The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-30
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Gossip Men Make mkes Move !.
STOCKS AND POLITICS.

street were upon Buffalo and SaratOga.
Early in the game the probability that
Hearst would be the democratic nomi-
nee became weakening force. His
nomination depressed prices still more.
He is the "bad man - Of New York
who stands for the things that vested
interest detests. He is, thru the things
he advocates and the reasonable infer
ence that if elected his administration
will partake Of the radicalism he repre-
sents, a disturbing factor. Vested in
terest detests him because his views are
extreme, his methods of self-exploita.
ton vulgar and sensational, his whole
makeup the personifed antithesis Of the
word conservative. Vested interest in
so far as it opposes his radicalism, rep
resents the attitude Of great many in
telligent people-probably majority
Of the voters Of New York state-who
can see nothing in the mans personal
ity to. recommend him for any position
of great trust, much less one requir-
ing the ability and good Judgment of
the governorship Of New York state.
Spectators care less for this, but they
as class despise him most heartily be-
cause he is a 'tknocker'. of values, \.
Hughes, who thru his personality,
general bearing, past record and high
abilities belongs in class which
Hearst, to judge by anything he has so
far done, never can enter, is the accept
ed candidate Of a majority who stand
for stability and good government, yet
he is not wholly friend of the specula-
tor. The man who plays the market is
| hor IN v1oo II +o ~
move his way and externals interest
him only as they bear upon the game.
Indeed, there is no class Of men so mar
row in this respect. The Wall street
broker partakes Of this, also the d.
rector and great owner of securities.
Nowhere can there be found SO much
ability Of a certain kind, so much quick
ness of perception and mental alert
ness coupled with inability to hold opin-
ion or entertain a view Of a great mat
ter broad enough or generous enough
to meet the acceptance of an unbiased
outside thinker. What the effect will
be upon the market is always a first
consideration. Wisdom of governmental
policy, soundness of judgment the
part Of an executive, advisabi]ity from
the standpoint Of the general good-al]
are secondary considerations. Wall
street has no politics. Cleveland was
a hero when he undertook financial
operations on behalf Of the government
that made good business for the street
and marplot when he stood upon the
dignity of the Monroe doctrine, put the
country upon the edge8of war with Eng
: land and sent the market down Is
I points. Roosevelt was hero when he
stood for stability and conservatism
after the Mckinley ASSASSINATION, but
a misguided radicalwhed he undertook
to regulate and stop the railroad abuses.
The statement then that Wall street
is nervous over. the nomination of
Hearst is true, but the impression that
all in the street are overjoyed at the
nomination Of Hughes is scarcely war.
ranted. An eastern newspaper says
that when the word came to broker s
Office where thirty men were watching
Ethe ticker that Hughes had been nom
! mated, one man <cheered, the other
twenty nine remained glum. They had
not forgotten that it was Hughes who
carried on the life insurance investiga
tions and dragged out all the damaging
stuff that put crimp into the market
| Nevertheless, in the general sense
Hughes is the candidate Of the bulls
and Hearst the candidate of the bears
The fact that election to the office Of
governor Of New York state takes F.:
man close to the presidential chair
makes the situation bad. Hearst would
never rest, were he once governor
until he became candidate for thu
presidency. 49,.
Thus we see, in a time Of such pros
perity that records have never befor'
} been equaled, a stock market that re
fuses to bull very much. Prices, it il
generally conceded, could stand fai
advance and not be out Of line will
conditions, but the political situation
, will make the market very uncertain
until after the decision in November.