Life — May 23, 1901 — page 19: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

When the Devil was sick, The Devil a saint would be; When the Devil was well, ‘The Devil a saint was he. [PF.HE righteous and chastened de- meanor of Wall Street since last Thursday's shakeup has been a delecta- ble sight. When Wall Street gets good it is very, very good and the reprobation of whoever it was that brought about the so-called “panic” of last week has been widespread and vehement. One would think from expressions heard on every side that for officers and directors of cor- porations to monkey with the stocks of thelr companies had never before been heard of in Wall Street. wit STREET is naturally influ- enced In its views of occurrences by their effect on its own pocketbook. A week ago It was doing a business of three million shares a day. To-day the total was less than a million, and Wall Street is therefore in a state of high moral indignation at men who could be so unprincipled as to cut down the prof- its of the business two-thirds, It hasn't quite made up its mind who the actual sinners are, that by their wickedness have done this wrong; but there is no doubt that Wall Street disapproves of them thoroughly and believes that they will never go to heaven. 3 $ 3 OT since Grover Cleveland called John Bull's bluff in the Venezuela matter has the Street been so indignant at any one, and in that e it made its indignation felt at Mr. Cleveland's ex- pense. Since then it has been recognized that the Venezuela episode increased Great Britain’s respect for the United States, and Wall Street has in a degree modified its opinion of Mr. Cleveland. Therefore, when the Street's present Plous indignation passes away the fact that “the vilest sinner may return” may find another exemplification in the case of the indefinite John Does who were re- sponsible for the Northern Pacific corner and its consequences, 3 $ $ RESIDENT HADLEY'S suggestion that social ostracism was the prop- er punishment for men who offended in politics and finance and who could not be reached by ordinary written laws, seems to be bearing fruit in the case of Mr. John W. Gates. Mr. Gates and his son aspired to membership in the New York Yacht Club. It is stated that the committee on elections declined to rec- ommend their names and put the two gentlemen from Chicago in the pose of the Peri outside the gates of Paradise. Mr. Gates may do very well in Chicago, but in New York his path does not seem to be strewn with roses. $ 3 OTWITHSTANDING the reduction in thelr earnings, the brokers pro- fess to be glad that the late unpleasant- ness has shaken out of the market the soubrette and chambermaid element that was figuring in the yellow journals as winning countless thousands in stock speculation. It was a dangerous and panicky crowd that interfered with the big players and, as expected, spoiled the game. The bellef generally entertained is that stocks are now In strong hands and that the liquidation is practically over. Those who entertain this optimis- tic view look for an advancing market based on a legitimate view of the coun- try’s unimpaired prosperity instead of a popular mania to speculate. 3 KE 2N if this view is right It would not be surprising if the Summer's market should be a dull one. The tre- mendous activity which culminated last week has left behind it a feeling of las situde much like the Spring fever that comes at this time of year. Almost every one seems to be more inclined to think about trips to Europe, yachts, country places and the Pan-American than about what is going on in the mar- ket. 3 3 $ M ANHATTAN Elevated will bear watching, The discomforts of travel on the surface roads are becom- ing so great that when the Elevated gets Its new electric installment with more comfortable and frequent cars there is bound to be a tremendous Increase in its business. The carrying capacity of the road will be materially enlarged and the ratio of expense to earnings will be very considerably reduced. The present -price of the stock is not excessive, and a few sheets of it laid away in a dry place ought to do its owner some good. $ 3 ONDON isn't so pretty as it was, but it knows more. Monkeying with the buzz saw usually produces this re- sult, and the gentlemen who buy and sell American securities at a range of three thousand miles have had picturesque experience. $ $ 3 HERE is talk of a new epposition to the Tobacco Trust in some of its lines, but that institution is so firmly entrenched in its trade connections that its owners not seriously terrified and talk confidently of the stock selling at two hundred at a not very distant date. The Tobacco crowd are pretty crafty people and are adepts at the fine art of smothering competition. $ 3 3 T HE hen is still on in Consolidated Gas and the expected hatching may take place at the next meting of the board. The rumors about a new issue of bonds and stock to take the place of the present securities are not so defin- Ite as they were, but there is a strong Impression that something very pleas- ant {!s going to happen to the stock- holders. a very are 3 $ . 8 HE Steels do not show any great buoyancy. “There's such an un- godly lot of it,” said a broker to-day, “that every man, woman and child in America might have some of it,” and this may be the reason that its fluctua- tions are within such narrow limits. There is enough of the preferred to sat- isfy a very large investing demand, and it will take some time for It to be ab- sorbed to the point where its price can be materially advanced. At the same tome it is well protected and its rece: sions in price are very small. A policy of nkness on the part of the manage- ment of the United States Steel Corpo- ration would do more than anything else to give the public confidence in its se- curities, s 3 3 MHE guessing contest in is still on. It is complica hy the Northern Pacific, which the Harriman interests had to take on in the effort to rebuke Messrs, Morgan and Hill for fool- ing with the Burlington system, and no one yet has offered a satisfactory theory of how the tangle Is going to be straightened out. Mr. Morgan has gained a considerable reputation as to a picker of hard knots, and when he comes back we may expect to see the matter settled on a rational basis. A, Lamb, Watt Srazer, Taunspar, May 16. comicbooks.com