Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-12-03
PUBLIC IS N|BBL|NG
Former Wall Street Customers
Again Show interest.
WILL NOT COME WITH RUSH
Stock Selling by Professed Opt
mists.
FALSE REPORTS OF DISASTER
WILL NOT COME WITH RUSH
FALSE REPORTS OF DISASTER
BY II. ALLoWAY.
Copyright. 1911. by R. C. Hoppers.

Copyright. 1911. by r. C. Hoppers.l
Special Dispatch to The Star
NEW YORK, December 2.-That Wall
street Is disposed to start upon a cam
paign for better security prices is in
many wayss manifest--the chief forbid
ding factor in the way being politics.
Prominent operators who ranged them
selves upon the bull side a month ago
are still as unspokenly optimistic as they
have been at any time, but their activi-
ties at the moment are largely confined
to language. While predicting contin-
uance of improvement In the market
they have been coincidently selling stocks,
housing profits. Thus this weeks mar
ket mas been required to absorb a good
many stocks from quarters whence for
weeks past has come support.
some SOCKS have yielded, but none
In large way. Actually there have
appeared evidences that the outside pub
lie was beginning to nibble a little in
old-time fashion. Comm. ssion brokers
have been hearing from customers who
wholly aloof. AS hitherto indicated in
this review, the unceas.ng dirges from
Wall street proclatming hard times and
forecasting disasters have lost recently
what influence they were able to exert
for the speculative interest of stock mar
ket manipulators From the indisputable
condition Of dull business. of activity
somewhat below normal, there was
forged representation that all trade was
disturbed and threatening to become de-
moralized.
1t is not creditable to Wall street in
telligence that this sort of humbuggery
for a while prevailed even shaped stock
exchange sentiment: but by way of ex-
cuse for such alteration it can be plead
ed that those who engineered this brash
plan of campaign Included financiers OF
the very first rank-whose bare whispers
are sufficient at times to unsettle even
a sturdy market. It was simply the rise
of the spirit of common sense that has
thrust the -fakery aside.
The Public Wiser.
Entrance upon the part OF the public
into the market has not at any time,
however, attained such consequence az to
approach anything like controlling in
huence. If the public is to come back
letting judgment be made in accordance
with precedent-the temperance will not
be in any wild rush, but with abundant
manifestations of leisurely prudence. We
have a wiser public than Wall street used
to know. 1t Is a public whose wit sharp
ened while pockets shortened In the panic
experiences Of 1907 and after
BY way of attempting some justifica-
ton of selling out stocks while profess
ing tnc UTMOST commence IN SalueS some
oracles are dropping into philosophy like
this: The market, intrinsically. will be
strengthened by temporary setback: the
public Is ready to come in, but must have
the attraction Of reaction in prices. are
entitled TO enter at lower level. There
fore it is really a matter Of helpfulness
to the public and to the market itself
that Is represented in any. sales now
made. In that a more encouraging basis
may be thus offered" This sort of talk
is, Of course but pretense, mawlkish and
to any fair mind intolerable-for. neither
the public as whole nor any respectable
fragment of the pubic was ev.r attract
ed or can be attracted to buy stocks be-
cause they are going down. The invest
ing spirit and the speculative spirit alike
live upon the inspiration that exhibited
buoyancy presents Neither in a dull
market nor a dropping market is ii posi-
BILE to arouse buying disposition.
Coincidently, il is not at all impossi-
BILE that the gentry who feel called upon
to attempt extenuation of their sly liqui-
dation may be overestinating the potency
of their own operations. So far, indeed.
the market seems to stand their shock