The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-04-18
HARD rlMEs N WALL srREkr

@ARn TIMES IN WALL STREET
e wil surprise people Ii ibis part
~ the eonNrs to read ol me loud
cries which are guiag un trom Wall
/ ugiet aeou, the hard times With
sSAee Crops stlling ior fair prices and
F,sgythlug bright Tor lhe Future,
with pNr towns and cities kr0wlng
tass With bank deposits Increasing.
and a large surplus Wnd from past
AeeNMu@Uons a. devotion oar re.
soprces ths mt1 81 The west Is en-,
loving itsGlc and knows nothluR oi
Rard lmeS except what ess.as ID
TIE news dispatches from Wall rect
B0l rcad this
a4o0d cries of hapa tiues are g0lng
m from Wall street Business has
po' been 50 dull in years as il IS
now The outside puhlic will not
speculate and Wall street without
lambs is poor plaoe ior nlckipgs
so tar as me professionals are con
ceynod.
FAcre have been many periods OF
dullnvss iu the financial district but
none SO proiracica as the one that
Is now agOnieing members uf the
sock eXclRnge Only one day un
The last Six weeks nave the transac
tous been Gb0ve 500 oo shares. aud
the average during this period 4 nol
much more thaa 250.0o0 shares daily.
This business has TO be divided
among L20Q members ana several
hundred different firms whose rum
ning expenses run trom &NAeA 10
S&aNao0 per aanum Some ol THESE
firms employ ia their New York of
ilce alone seventy-lipe to 100 clerks
The smallest Of them ought tn "a
atW shares OF business daily to pas
operating expenses, while the largest
can not make profit unless thcy
buy and sell for thet customers from
1000 90 10000 shares a day II has
Irsq0enty been the experience of
dozens Of houses that they have not
transacted business OF 1900 shares
IN a day, T0e house whose expenses
are said to be the largest IN wall
street, recently ala only $500 shares
IN an entire week One prominent
house which had expensive branches
al over the country. thought itself
fortunate one day recently to do 100
Shares ot floor business on which
ltS commission was 81. but mis-.
take in It's clearing house sheet. in
entering the transaction, brought ID
fine 0f $l0
Hard luck stories are the topic oil
the day IN these dull times in the
street Men who have served con.
anuousiy with one firm for quar-.
ter Of q century have been lot out
since the first Of the year with per.
maps modest salary in advance 10
soften the pain OF dismissal
AN employe Of an important firm
VINO has been drawing $4,000 ~
wear was reduced to SiOg00 ana
FINELY asked to esign, as the pusi.
mess ne brought to his firm at the
present low ehb did not furnish then
enough revenue 70 pay half his sal.
airy Many who have been drawing
salaries of from $1,000 to S3.500 have
0een glad to be retained in minor
pd t'ionstl One ptftce discharged
thrty employees the other day
Relative to their style of living the
distress among the brokers IS eonal.
" as distressing as among the EN-.
poFes. The 81 houses. who In good
good times can bring 1000 to 1000
shares day 70 the pools, have been
lucky lately If they can earn $40 IN
a week w
But hard times In wall street does
not necessarily mean hard times In
the country. Wall street thinks "a.
olut the reverse may be true. In fact
lhe reverse is true in the present
in stance. There are so many oppor.
-unltles for profitable investment IN
-he country at large that the sunnlv
q sheep for this shearng Is small
speculation is Wall streets business
ana wnen men can make attractice I'm
'estmeni they are not tempted hv
speculation. IN point Of fact western |
lsmand for money for permanent IN |
7estment IN the construction of buillI
ngs, the expansion of railroads ana
ne developments Of industrial enter.
lfises " so great that Wall street Il
70 run ON short rations Il
Fiu be the better for the country for
ne present status to he maintained
or several years to come