Jasper County Democrat, Volume 3, Number 42, Rensselaer, Jasper County, 26 January 1901 — COMMEPCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

COMMEPCIAL AND FINANCIAL

New York—Stock market conditions have undergone an important change in the last week. Extraordinary strength has given place to decided weakness, and where a short tifrie ago there was a rush on the part of the public to buy stocks, there is now n scramble to unload. Values have been slowly but steadily declining for several days, and the aggregate of losses in the trading favorite z now ranges all the way from $3 to SLS a share. Wall street, following ijjj-usmil custom in anticipating the future, carried the upward movement to an extreme point. The Speculative jwndtthtm generally is.started in the light direction, but it not itifrequently. happens that it receives an impetus which gives |t too great a swing. As prices continued to advance the investment buying was gradually withdrawn, but each day the ‘•bullish" enthusiasm of what is known as the public was raised to a higher pitch. Wall street as a result became overloaded and the market temporarily depressed by its own weight. Trade .is comparatively quiet, is is usual at this season of the"yi’Wr. Chicago—The wheat market did what it was expected to do in the event of the support being withdrawn which il was credited with having received from certain Wall street operators. The regular wheat traders for the most part were- not saiigiiiti" of success for the bullish venture of the so-culled New York clique, but tnahy had been willing to help the deal along while it appeared strong enough to go of itself. Whi>n, however, it gave signs of failure to maintain mi advance of about 7 cents a bushel, some ten d ivs agciTtsm h assistance as it had from ( hi••ago was quickly withdrawn, ami the price of the commodity’ settled quickly to a price that it was worth for export. The'lime wus inopportune, for a bull yp-. oration in wheat. Receipts of that cereal in the West were too heavy at a period of the season when, if there was any truth in the short-crop theory, it should be having the corroboration of materially tedmc'd ariivals at points of accumulation. Although other points in the situation fa voted the bulls, the vital factor of heavy receipts, along with a vast accumulation in the visible supply, forced itself into notice every morning when the sum of the day’s receipts in the West were exhibited on the bulletin board. Trade in coarse grains received more attention than for a week or two previous, witli local sentiment leaning somewhat to the bull side. Corn has many warm sup porters among some of the strongest trad CIS in the market, and it is matter of common knowledge among the specialists in the oats market that a large* amount of capital has already been committed to the bull side of that commodity. Liberal receipts of hogs do not appear to cheek the strong situation with which the pro vision market is regarded by brokers in the pit when asked their opinion of the market’s probable course. Pork, lard and ribs all have their friends, who are sanguine chances of speculation spreading and perhaps to an extent that might in a month or two make present prices seem extremely low. ,