The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-12-26

New York, Dec. .5.-Holiday quiet
prevailed in the stock market This is
the season OF the year when many con-
Germs are engaged in making fresh
plans for the future. and speculative at
tention is generally diverted in conse-
quence A good undertone exists and
hopeful feeling is shown regarding
the future. Railroads are doing a
large traffic, and the volume of bust
ness is generally up to the pre-panic
level, and in some cases is in excess
The country now feels the stimulus OF
agricultural prosperity. Everyone IS
familiar with the fact that Western
farmers and Southern planters have
been receiving phenomenally high
prices for their products this year. en-
abline them to be liberal purchasers
of clothing and household goods. not
to speak of Injuries as pianos, talking
machines. pianolas, automobiles, etc.
Not few farmers. instead of buying
more land, are making investments in
securities with their surplus funds, a
condition of affairs which will eventu-
ally promote the floating of all sorts
of questionable schemes intended to
entice the inexperienced.
Prosperity of the farmer is natural
ly followed. though in less degree. by
the activity in industrial circles. All
our large plants are busily running on
full time and over, and labor is well
employed In commercial circles
there is a corresponding degree OF &C
tivity and the only classes who are not
fixed incomes and those whose work is
of professional nature. The latte..
however. did not suffer during the PAN
ic. but often benefited thereby in re-
duced cost of living, SO cannot serious
ly complain. But those who took the
brunt of the disaster should now have
| an opportunity of averaging up. La
Dor is showing much unrest and max
ing demands for higher wages in ord
er to share the improvement. often for
getting that it took little of the loss
which followed the panic. While it is
satisfactory to record a generally act
i've state of business. it should not be
overlooked that the benefits of such
activity have largely gone to certain
ORGANIZED classes, who should now be
content to see the unorganiZed get a
share before demanding more for them
selves.
Investors are beginning to show
some interest in the security market.
and with the opening of the new year
there should be brisk demand for de-
| sirable issues. Dividend distributions
! will be larger than usual, and at the
same time there is likely to be no lacE
of attractive offerings. A number OF
| important new issues are in prospect
which in all probability will be readily
absorbed owing to the very high prices
at which we'll seasoned and high class
securities are now held. 1t must be
recognized that securities are upon a
| higher level than before. and that this
generally high level is largely justi-
fled by existing conditions. The high
prices of securities and commodities
are part of a worldwide movement
arising from the depreciation Of gold
the activity of trade, the comparative
scarcity of agricultural products. the
advance in land and numerous Other
causes which enter in the complex
makeup of prices. 1t is easy to picb
out individual securities and individu