Bisbee daily review., 1910-11-01

New fOrk--i near that tne Ouuisn attftnde of the Morgan interest is not temporary matter, as is gen erssily thought, but has been taken for . campaign of months. All the big financiers are not in accord. John D. Rockefeller. for example. Jacob H. Schiff. Among the bank presidents Frank A. yanderlip of the National City Bank is quoted as ss3ing that for the time being 1t may be weu to act cautiously. But the friends of J. P Morgan quote him as strongly of the belief that the country is going to overcome it's political hapdicaps very speedily and that next year We shall enter a new era of prosperity.
 At that the Morgan element and following realized freely in the stock market on the weekend advance They have been active in speculation. especially in Steel. But they have not been the whole shooting gal lery by any means. Our October market has been made largely by other interests, also of potential re sources. George Biumenthal. who is abroad, has cut an important figure. He is a 5e0.0o0 share man. Two or three houses in Paris and one or tive in London have also been fac tors Here the principal profes- sional forces have been and are Eugene Meyer. jr., and Bernard M. Baruch.
 These are the interests who paved the way for the bull procession some tine back and who. Ike Morgan have taken some handsome profits ateiy.
 By the new census the country's nopulation is nearly 100 .0e0. 900. The seasons crops are valued at s9,0o0,- COG, zoe Nine months of drastic ii- quidation are behind the market. These are the foundations of the campaign in the stock market and the Morgan following think they are foundations of granite. After the second election of Mckinley his element took stand on the bull side with the ayowed purpose of it for a couple of years. which it did understand it's pres ent plans carry months ahead and are largely predicated on the idea that 1911 will witness remarkable indnstris, -Axivity. in which tbei Steel trade will NH.
 As regards ganerai--tEfafeeBts in talking with one of the 3reatest merchants in the country, was struck by his statement that the current year had been one of nor mas trade volume. The depression so much talked of by spectators in the past six months" this man said. has been all in Wall street He added that even in iron and steel the volume of actua, business has bulked larger than 1t seemed. owing to the increased capacity of mills, a point which no less respected an authority than John w. Gates in a recent interview also made. The merchant quoted takes the ground that the mere necessities of our increased population have resulted in so vast an increase in the con- sumption of goods every year that grave or proIounged depression in general bushes sis out of the ques- ton.
 Many leading operators and traders were so steeped in pessinism about xhe time the department of agricul- turai issued it's September report that they failed to realize the true inport of that remarkable exhibit They ignored the fact that the corn crop is not. only substantially in ex- cess of S,000.00o 900 bushels and sinucf the largest on record, hut also that it is of unusually high quality. Bankers and financiers of Wall street, however, were quick to take {, advantage of the government re turn It was only necessary fol them to remove the artificial press ure which they had kept on the market, for the prices to advance Today they are less discouraged over the deterrent features of the situa ton than for some time past. This is due to several causes, but prin ciDslly to the fact that the crops have reinforced fundamentals tre
 mendously. A crop disaster woult have meant a disastrous market. A it is, those of the big men mol disposed to be actively buliish ars standing pat. or in street parianee are looking on.
 But as I said in this column re gently the great financial powers vii
 not be found working together oi
 the long side Of the market til
 the United States Supreme Cour
 construes the Sherman law In tn
 Standard Oil and American Tobac
 co cases Some of the weathiest mem
 bers Of the Stndard Oil coterie O
 multi. .miliionaires are of the opiniol that these court decisions are O
 more importance than anything nov
 bearing on values, not even except
 ing the years extraordinary agri cultural resources.
 This is a market in which ney and young leaders of exceptional re
 sources in the shape of braini
 money and prestige are playing cor
 spicuous parts. Foremost anon
 this younger element is Eugene Mes