Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-06

pulse of buying in that quarter. and for
the first time since the panic OF last DC
tober wholesalers. jobbers, manufacture
ers and retailers realize that a change for
the better is beginning. They were en-
tirely unconvinced by prosperity CLUBS,
fake and otherwise, because they knew
that in most cases manlfeStos ana dem-
onStrations in that quarter were artlflclal.
or at the best premature. Now they are
feeling a touch of the real thing and they
are quite able to distinguish the differ
ence The principal disturbing element
for consideration Is the tariff, and If the
majority of the people should decide the
time inopportune for radical revision eN-
pectations of great boom beginning late
this year or early next may be realized
Should the decision be the other way and
a democratic President and Congress be
elected for harsh tariff work the return
Of good times may be delayed a few
months. Nothing political can stop the
onward march, however.
For. behind and under the general broad
situation there is going on hourly, daily
and yearly wonderful and revolution
izing gold imitation which is continually
making for higher prices. This D; some
thing which nothing political can check
for any protracted period. There is no
probability for let-up in the steady de-
probation of gold, and as the buying
power of the holder diminishes quotations
must rise. This is as memorable as. the
laws Of nature. 1t is well to bear this
great fundamental fact in mind in trying
to forecast the future of prices.
The combination which planned the
great bull market in stocks went about it
in a broad and comprehensive manner
They had their machinery at work in
every direction. 1t is a fact not gener-
ally known that their money was be-
hind the organization of prosperity clubs
and the distribution of tons of whoop EN-
up literature which has teen finding its
way into the newspapers periodically Tor
six months A great lump sum Is said
to have been paid leading New York
newspaper for filling its columns day
after day with italic paragraphs calling
attention to the income value of a long
list of stocks and bonds.
This latter feature of the campaign Is
recognized everywhere as having been
wonderfully influential and to have done
a great deal toward inspiring confidence
among investors. 1t must be admitted
that money expended In that way is
legitimate and serves a useful and pa
triotic purpose. AS part of big specu-
lative movement in stocks it is decided
novelty, however.
X x
There have been no sensational deVel-
opments in the A. o. Brown & Co. in
sOlvency matter this week. The board of
governors are going ahead with their in
vestigatiOn of the affairs e the bankrupt
concern and may not be through for some
days. Members of the firm continue to
offer brave front and say that their
downfall was due to conspiracy In
which the stock exchange was a party.
1t is narrated among the insiders that
on the morning of the day of the failure
took 100000 in Tobacco bonds to the
Hanover Bank and asked for loan of
So, 500 600, which was refused This al
legged fact is spoken of as strong evidence
of an aggressive willingness to put A. o.
Brown & Co. out of business.
In connection with A. o. Brown & Co.'S
affairs, a supposedly inside story is told
of the way 1t came to be 'stung" In that
Santo Domingo mining scheme three or
four years ago in which they sunk near
ly 81 10000 1t is said that the property
was passed upon and approved by eX-
perts upon whose finding ihe investment
was made but that after the cash had
been passed over 1t was discovered that
from that which had been exported.
Rather than have the fact become known
that they had been bunkoed, the hrm
Voluntarily paid back every dollar In
vested by subscribers outside of the firm.
All of which goes to show that there are
easy marks in Wall street as we'll as
elsewhere and that the SmarteSt are not
inst Cyl-ir