Omaha daily bee., 1911-05-28
LAMB SUPPLY WOEFUL SHORT
Action Of the Supreme Court Makes
Business More Satisfactory.
LAMBS ARE ON A VACATION
For the First Time I'm It's History q
Pawnbroker Has Opened Up q store
ON WALL street-More Pathetic
Than Humorous.
BY PRESTON c. ADAMS

g.. BY PRESTON c. ADAMS.
| =, NEW YORK. May H.-(Special 10 TIL,
Bee with the position OF the TniteS
/ states supreme court known ON the trvst
question and its position fairly sntisfactorv
20 the big interests business on Wall street
alas assumed somewhat more satisfactory
aspect. though II must be confessed there Il
SUI: Woetul shortage I'm the lamb supply
nIs as everybody knows the picking IL
s6iy plentiful supply OF lamb
~, ME the summer is not closed season
soa lambs IN the street they are extremely
scarce so the professionals have about set
ueu down to the conclusion that they must
set along on mighty little until vacation
Incidentally the nearby and cheaper sum-
mer resorts are likely to have a much larger
wall street colony this summer than they
! nave had Tor many years.
| In regard TO those supreme court decisions
u Is no secret that the big men OF finance
an1 INDUSTRY are thoroughly well pleased
WIN the decision The Standard OIL COM
pany viii ''reorganize" as II did once before
and under the reorganization will do husi-
Tbs S RrS,S = much 6h as Il has been doing.
;lttle whether their dividends came from one
pig organization or several smaller ones
| provided they come undimlnished and un-
less everybody is mistaken they will.
PRwnbroker in Wall Street.
some idea OF the condition of things IN
me street may be gained from the fact
tnat a pawnbroker, for the first time in his
/ ~ ,Sl'NANN SHbi IN the wall street
district. Everything may be pawned thers
except stocks and bonds for he has no am.
piuon to compete with the other brokers
! Ia the exchange and on the curb This in
ruslon OF the Lombardian system into the
financial section is misused as the subject
Oh many jests, but is more pathetic than
Did you ever stop to think how the brok.
ers make a living when the investing public
Nailing notion is that they sell stocks "a
each other. but where Is the money in that
s S,.ls others suppose that they tide
at their clubs but whoever wins any per
manent money at bridge?
incidentally the wise uncle Of the street
seems TO be doing thriving business.
"NOthin' DOM" on street.
For all that am able to do here might
as wen be on my farm" remarked a mem
Der of an old established, but still energetic
STOCK STOCK exchange firm. The trout fishing 10
pretty good, even though we have not had
enough rain, and there is more interest in
s0oRilhg after stock on the farm than
dent is the present attitude of the weii-to-So
wall street broker. II rs wearismoe hang
ing around hot office day after day when
there Is not enough business doing to keen
one member Of the firm employed More
and more brokers who have passed middle
age are going in for country estates where
they can rest to their hearts content, for
ticker.
Hill and Reciprocity.
James ]. Hill does not mince words in
the greatest measure before the country
since the civil war" he declared with
Characteristic yigor Opponents of the
greatest thing for Mr.. Hill in the last half
century, though not necessarily for the
t tarmers in this side OF the border; The
country as a whole, however, is with Mr.
| Hill in this instance, as, by the way II
frequently has been in the past Mr.. Hilrs
are very extensive and he ia nd
to have additional projects in mind.
canada wants railroads so badly that It
them. The latest important scheme is for
a third transcontinental road. The Domin-
ion government is prepared to support this
amount Of fully $17O0O.O0O. The men behind
the enterprise have attained notable sue
cess IN the past and with the hearty CO.
operation of the authorities there is every
indication that the new system will be
built as proposed.
Where DO the Bears Got
A rather novel question was asked down.
town the other day: why is It that bear
Is never heard Of as going to Europe or
coming back?" AS matter of fact the
interviews deposited in the ears Of the
newspaper reporters on the steamship
piers by financiers who are either setting
out for a vacation abroad or just returning
from one, are Invariably optimistic.
No prize is offered for an answer to this
suggested:
The first is that bear cannot afford to
90 to Europe for vacation. He has to
stay around. A Spectator may risk being
long of stocks and going away, but a short
interest in the stock market Is an in
tolerable vacation companion. True, specu-
lators have been known to make a great
deal Of money on the short side of the mar
ket, and go away afterward, but In every
case they have covered their short con-
tracts first.
A bear who has taken his profits on a
large line OF stocks is bound to be more OF
less optimistic, He is willing at least to
ooncede that things may be ready to mend;
otherwise he would not have relieved the
situation OF the weight of his disapprova!.
And such a Spectator is more likely than
not to reinvest part of his profits on the
long side of the market before going away.
Tho money n bear makes he must either
spend or invest.
Bad News Don't Brighten.
The remark is frequently made that the
stock market has ceased to decline on the
receipts of unfavorable news. The indif-
ference to adverse happenings Is. indeed, a
siEniticant feature of the present situation.
rimid holders Of stocks have had every In
ducement 70 liquidate before now. so that
there Is basis for reasoning that the market
70 use Wall street phrase has been
There can be little doubt that the great
bulk of what might be termed the floating
supply has found Judgment In responsible
quarters, and that capitalists VIII not be
easily frightened into selling except at
generous profits, Men of the caliber OF the
Kockefellers. Morgan, Stllman, Schiff,
Speyer, Friok, Baker Ream, Moore,
Baruch Blumenthal. Phpps Gary. Hlne,
Schwab. Perkins. Reid and a dozen others
are not given to accumulating extensive
lines OF stock with the idea Of selling out at
small profits they take long range view
and act accordingly. Having discounted so
much during the last twelve months tho
natural tendency should be to anticipate q
revival sooner or later.
Enter The Bees Booklover Contest now.