The Birmingham age-herald., 1908-03-08
STOCK MARKET IS \ NARROW AND DULL Distinguishing Features for
 Several Weeks STREET IS WAKING UP Realizes at Last That Politicians Mean Business and Something Must Be
 Done-5usiness Outlook Is
 Still Gloomy. 
STREET IS WAKING UP
BY w. G. NICHOLAS.

m m lew York, March Especial. )-Thin in foded, nervous, narrow and dull aro ga.E characteristics of the stock market. poo So have been the distinguishing feat whIs for several weeks and the promise
 M a change cannot be called encouras- oh A The disturbing factor is the attitude Hrei'the political parties towards corpora dra.ns and towards speculation. It Is idle " think otherwise or to say otherwise. .h ht4thing better illustrates and reveals the " eertainty in men minds than the stock er frket at this moment.
 tapital is stubbornly holding back and u'using to lend aid to any kind of en- prise or development until a better
 'esight of the political and business fu- e can be had. The two are so mex 1 1cably interwoven that they go together here has probably never been a time L hen politics and business were more closely interdependent than now This svfew may be disputed by some, but the lfacts are there. A great army of inVes- Mors feel that it is almost like buying A.nto a lawsuit to put their money into
 prporation securities with the federal
 nd state governments and legislatures
 rrayed in open hostility. and with the ,ilopulace apparently inhamed to the en- louragement of any and every sort ol ds- a ault on substantial interests.
 While dull and almost enemic, the stock market cannot be described as apathetic. on the contrary the prevailing sentiment is one of intensity of interest with back Aground of timidity and fear as to What Irnav be ahead At the prevailing low 6prices few people are selling unless Aobliged to. and with the surrounding ana lever present uncertainty. few people care to buy or make new commitments. lne situation is in the highest degree unsat- isfactory for everybody.
 Not the least disquieting feature is the discovery which Wall street is making hat vast majority of people are tax f ,e the White House view that the un-
 arlviner cause of the business apprehen-
 ion. and of the panic which preceded 'l' A,ere caused by over-speculation Tn the Hsock market and by the misdeeds or hlsh rhaneiers and those entrusted wlth the flanasement of great corporate interests. ltiais overwhelming sentiment finds ex- | ession in the campaigns at Washington "a almost every state capital Tor the
 impression of gambling in stocks ana
 arm commodities.
 4 If took Wall street a long time to realize
 that there was anything in thls move -n,ent bevond the mere idle crusaolhe oL tdemagogie politicians striving to gain the
 eood will of the peanut galleries. That
 if means a general movement, represent inc a tremendous majority of the people, Is I now dawning upon the rank and lie oA
 inc financial district. The revelation IS
 shock as well as a surprise. It has shaken
 the dull provincialism of the street rom
 circumference to center. It spells to the sawakened Wall street a great popular Endorsement of the President ana ms t'policies." e .to
 The takers and the wise-acres ot the jstreet had deluded themselves into the sbeNef that the country had very generally accepted the theory that the admlhistra- fion was chiefly responsible for the paillc and it's after effects; whereas, the weight of testimony is coming in directly the other way at this writing. Whether or not there will be change remains to De seen. .4
 For the present. however, the street finds itself up against the proposition that if is the under dog in the fight, and thar .i is In for a further process of dlsclpiin-
 i1p TO Wall street it seems incredible ' that any considerable portion of the bank ing population could take any other posi- stion than that injury to Wall street IS injury to the entire material interests or