The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-10-30
MARKETS, MINING AND METALS
TAFTS ELECTION
AND THE MARKETS

\ recent circular issued by Trippe
q Co, % Broad street, New York,
gives the following interesting and
sound market summary: Political
Developments over the last few weeks
favor the election of Mr.. Taft as
president of the United States. \
Republican victory means a permac
nent eclipse of Organism and will
sound the death knell of his policies,
which for y years babe from time
TO time chilled the business and com
mercial pulse of this as well as other
nations.
Politics have dominated the stock
market for the last two or three
months. Traders have been warned
to move cautiously until positive as
surances of Republican success were
received. II is largely because of
this that so little interest has been
taken in the market by the public.
Confidence is an element, without
which there can be no commercial or
industrial progress. While the fun
damental conditions of the country
are too sound TO allow a Bryan vic
stagnation, the defeat of Mr. Taft
would certainly prevent an immedi-
ate return of confidence, which is so
essential TO the elevation of our in
dustries, from 60 per cent 10 a 100
per cent operating basis.
Sound and conservative business
men are unanimous in their belief
that a Bryan victory would prove dis
astrous. Therefore his defeat would
certainly help TO influence activity
from "A stock market as we'll as a
general business standpoint. Securi-
ties have enjoyed a fair advance
since the October panic of last year,
but such an important event as the
election of Taft is not going to be
passed by without some sort of a
bull demonstration in Wall street.
Wall street will either discount Mr..
Taft's election within the next week
or 50 by an advance in securities, or
wait until the votes are counted and
then inject life into the market. But
in forecasting the future course of
the stock market the fact must not
be lost sight of that since the first
of the year the most powerful inter-
ests in the street. interests with un-
limited capital at their command,
have been responsible TO large ex-
tent for the pronounced recovery in
stocks. The question is. have these
interests been able 10 liquidate
large percentage of their holdings?
Developments all point to the con-
trarY. With this in view, an event of
such consequence as the election of
Mr.. Taft will probably be taken adj
vantage of by the large interests to
shift part of their burden To other
shoulders. The election of Mr. Taft.
having spent its stock market force,
a recession later on would not be
surprising. Ii is held that the fail
IRE of his election to stimulate the
stock market would do more than
anything else 10 keep the public out
of the market This the large hold
ers of stocks realize, and an upward
trend Of values over the next two
or three weeks is altogether likely.
That the leading issues are bound
10 sell higher there is no question,
but ii is not 10 be expected that this
movement will be carried forward
without Interruptions such as were
experienced when Wall street was
treated TO political scare in Sep
TENDER
Conditions favor higher prices for
securities. but as aforestated, possi-
bic liquidation on the part of the
large interests on the strength of Mr..
Taft's election is a factor that must
not be lost sight OF. \ setback. how
ever. is not expected until after the.
buying movement. influenced by a
Republican victory. has spent its
force
1t may be true that love never dies.
but IL occasionally gets stranded a