The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-12-09
WALL STREET.

Wall street is in the doldrums again.
The prices of stocks are weak, exceed
ingly weak. This is the condition they
have been in for some time. There
was a natural expectation that II the
presidents message was of friendly
tone towards the corporations and the
big business interests Of the country
business would pick UP bit in Wall
street. That's the kind Of q message
President Taft sent to congress, a SEN
sible message, too, on this point in it's
advocacy that the present laws for the
public regulation of corporations should
be enforced before new legislation on
this score is undertaken. But an hour
after this message became public, the
bears, instead of the bulls, got busy
in Wall street and the prices of stocks
made a weaker showing instead Of a
stronger one.
What's the reason for this weakness
that has prevailed for many months
among the stocks that are bar
tered on Wall street? Business
conditions, taking the country as
whole, have not been as active of
late as it was reasonable to expect
that they would be. This Is truer of
the eastern section of the country than
it is of the great west. Then, too, a
large portion of the stocks and bonds
handled on Wall street are of the rail-
road variety, and the plant Of the rail-
roads that their financial standing Will
be crippled If they are not permitted
to raise their freight rates has ten
dency no doubt, to keep down the
prices of their securities In all pro-
liability, however, there is another
potent reason, among others for the
weakness of Wall street.
The people of the country have be-
come wise to its ways, or the ways of
the many stock gamblers and manipu-
lators, who have prostituted the proper
functions of this great mart for the
buying and selling of the securities of
the world. And the people, having got
ten wise to the ways of Wall street, are
keeping out of it's meshes. They are
not turning their hard earned SURPRISES
into the craw of Wall street with the
idea of getting rich over night. They
are not taking the fiiers in stocks they
used to. They have had the almost
utter futility of their efforts to beat
the Wall street gamblers game knocked
into their heads by the hard blows or
an expensive experience. The result is
that the questionable 'fnanciers'' who
infest Wall street, have no money to
pay their game with but their own. A
constant stream Of other peoples gold
is not being daily turned into their cof-
fers. Naturally the game grows weak.
a gambling house, where, even II 1t is
honestly conducted, the big percentage
for gain is always with the proprietor,
cannot keep it's doors open for long
unless new suckers are knocking at
them nightly. That is one of the trou-
bles of Wall street. And until it's BUSH
ness is readjusted to its legitimate field
and functions. the stock market will
continue weak
But the people, generally, especially in
the great west, are not concerned much
over the weakness of Wall street. They
don't pay much attention to it, one way
or the other. They have discovered,
also, that its ups and downs are not the
arbiters Of the conditions in the BUSH
ness world, although that opinion was
once held strongly.