The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-08-25
WALL STREETS olsconrEsr.

WALL STREETS DlscoHTEHT.
Wbl Street estimates tina. approx
.mately gJG0.0gO 900 aill be 5pent his
year BY Americana for the Durchas g
VI automobiles. ~ this vast sum
probably b per cent Will De for ma
chimes Of domestic make. the only
foreign product !u which viii be
rubber FOR the trea, of which about
l7j,0GG,0g0 viii be used
II Ia computed by staubtlcians oi
New York's financial district that
half d this outlay would be used
for stock market speculation but for
The nation vide craze for 10y cars
With such an enormous amount Of
money diverted from stock trading
channels conditions in the Street are
now akin 10 those that prevailed
during the 1907 panic. In six months
there has been ghrinkage Of $50.
100000 IN the marHet value Eecuri-
i'"a deal. l., upon he stock cx-
change, due mainly 10 .ack Of public
support. The lambs. always a fruit
ful source N revenue for WHY bulls
and bears. no longer gambol with
their old abandon and have become
as scarce a. hens teeth about Wal.
Nassau and Broad Streets. All that
are loft are the professional traders
10 whom the limited pickings are
not Oyer-attractlye.
In the hope Of checking the spread
Of the automobile tide. the assist
ance 0f local bankers has been en-
listed. The latter are now yoclfer-
onsiy deDrccating the mania. They
claim Il ig inoculating the small buH-
mess men Of the country as well
AZ the a1lucnt merchants Of the city.
and that IN order 20 crafty their
appetite for machines this class f.
inortgaginR it's homes and property
This cry Of alarm, however. IL no
borne out by the mortgage records
which shdw but normal state of
borrowing on rea e8tltc. Neither do
the reports OF the clearing house
indicate that bank deposits are being
apprcciably withdrawn 10 enable Gus.
toners TO buy machines What mon.
ey IL being used by the public for
the purchase Of cars is it's surplus
cash which In other years found
its way In to stock exchange houses
for less cxhlcratIng employment .
This Is thc money tal' created IN .
flated and fictitious uarkc'3 and
enabled the gaabla-s Of tho Str,at /
TO live in opulcucr wh'o their rli |
onts grew two grey mars vhe.e
there was one before.
Throughout the Hnlncil! dls,nc..
especially among those who I.Jcnd
upon the outside public fo- their
business, there seems to bee dlspo.
s or 70 de- ,crc the recent pr.clase
by J. Pierpout Morgan OF the con.
trolling interest IN one Of the largest
+A+--hA- -Ln-n1A-In- automobile cac,1r.cg
They think It win have tl ofT-cT :
on the market and help TO -el-i
The return Of property in tho St.crt
by giving undue prestige To Ia. IN.
iustry 20 whose development they at
tribute most Of their trolbla9 Their
rhaGrin recalls the feeling syis,in, !
n the dls'rie; some years aro 1u-. {
ng one OF the intermittent perlols
II depression 20 which 10 is subiac, {
when John u Rockefeller instead Of ]
Importing declining market dunn. ;
ID several Of his millions into the
'tock Of the quick lunch restaurants {
u the big eastern cities, which have O.
lnce nctted him handsome profits. d
In repy 10 Wall Streets lament +
ncut the diversion OF money from |
he stock market, the president Of q
ne OF the large automobile com @
.aniCs this week threw a Jolt into a
he enemy's camp IN a statement 3
aging that the public had grown <
red OF frittering away its savings g
] Wall street gambling that rarely &
cited it anything but headaches and Il
lsomnis. and had determined TO get q
1me wholesome pleasure out OF its q