Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1906-01-09

The Optic, written from New York.
under date Of January 8. rays. In
part:
The year 1905 opens under NEST
favorable auspices, General buslness
conditions are satisfactory and ought
to continue 80. at least until the nest
harvest. 80 far az the stock market
Is concerned there are but two dan
gers. and these are rather serious
ones: an ov~er.extensiou Of credit and
the fostering OF undue speculation.
The money squeeze Is now over, and.
from now until the middle Of March
money should remain In . comfDrta-
bly, easy condition; but The recent
stringency In the money maTket 10
proof Of the need Of al elas<ic cur.
rency system and, the rather unwel.
come demonstration Of the persist
snsy Of speculative demands upon
cur b&nking resCurceS. Unfortunate.
Is, tho latter are very frequently m
der the nomination OF nc whose H.
Ne In the direction Of s4f1
higher psiees on whicA 10 unlonA
their surD1ss stock. im fact, the
power Of speculative i~rrserests over
the nnsnc5sI Institutions II one o.
the worst dangers IN the situation.
Whflr tbs public has lastly ventur-
into, the market more boldly. II
nevertheless. thus far Only par
tially relieved yjch holders Of their
surplus ssbcsk, Conditions being
favorable, the original owners
III mseaSnasdi seeurities, especially |
the induMriais. seem determtaed to
&dsce a snnCuA Ettve craze il order
- unload o. poscinu Of their Sarden
lipn0 the arbliG- Whether tli&y will
be successful or m future events
Idnsst determine. n h to be hoped
L'Aa the public viii not jump mo ca,
yeriy at the bair thus offered. and
/ II also highly desirable that hank
slasshould rause E~nner1ily insist wpon
! conservative policy and diszSfmi
ID ~, sharply In tine making Of Unns.
Turther shaip Keeping these cauticn.
lrn ideas sts&liiy' in view 1t seems
llnsDa6 u~selessr q, n4siAt the sp~sasIA.
ivHr craze. Rrtces of the best sacu.
are so high ~ to be beyond
,r,dlmry invsstmRnr requirements,
lnHtthis year there In . smaller pro-
than iMprevlSaw years; fsznce
~ RssumH ,arv goiuw into real estate
md : variety or otheu new enterprises
rhAso( itself i1sa suggestive incisant.
IN. ~iniications point to = fresh hurst
i speculative. a6dtwftx We epu
10 N more tshs impress upon our
the great nsccssity for csn-
lon and sharap Decentralization. yarti
againsr the 1sw grade iutAs.
riufA and ccNpers. many Of wAith
ire ridiculousIy inffHted. One resnpQ
seIticipaunxya wffefi degree q, acs
ivRy Il that prosperity Is 40 masked
hraaghOut thsc wsna and south. rae
,gylcuimrsl clsssea are not onlt' out
4 debt, hut hswA rassey In the uaak.
luta the sams.tA tina ,0e The flaHpsing
J. SaAes, both - wAiclnAtM cam vif-
ims to the nknnys Get.rfSMp3@
icAemGs. whieh are spss@sQ{6snd4dat
Irat, t6catAneS ~ ~ seCsseH HI
DRY WI simply ~ repeating ITSELF;
or Aif ptoisnscd .eras Of propparity
been 'espesA. ~ . specalative
itbauch, and, Thu one 10 noe likely
o be an exception. The year 1905
sas'a recornsrsaker In almoso every
Rspect. aA&s Il nov looks a. n incl
rear 1906 usy be . record breaker
In regard ~ speculatioa-oowever
much that may b. regretted. II Will
q pushedTsO the breaking
point, which usually comes whsn
least expected. 1
FfMH MWHN My