Show I The 4 onntrys Business New York 12The exchanges for the first week ef October are the las gest ever recorded in spite of the fact that stock speculations contributed con-tributed to the aggregate very much less than on previous occasions Every town in the country shows an increase over the corresponding week last year The following table shows the percentage of increase in detail Xew York 772 Boston 494 Chicago 1158 Philadelphia 413 St Louis 548 Cincinnati 169 Baltimore Balti-more 267 San Francisco 83 Milwaukee Mil-waukee 339 New Orleans 214 Louisville 318 Pittsburg 409 Providence Prov-idence 377 Kansas City 871 In dianapolis 2516 Cleveland 231 New Haven 205 Memphis 115 Worcester Worces-ter 117 Lowell 477 Syracuse 220 Referring to these wonderful figures fig-ures the Public says Seventy year ago the valne of all the property in this country was less than recorded by payments in the single week ending end-ing October 8 at the few cities here named The enormous transactions at some of these cities naturally suggest the idea that a large part of the payments arise from speculation The settlement of monthly contracts at the chief centres of speculation evidently counts for much but the legimate quarterly or half yearly payment of interest dividends rentals and the like undoubtedly swell the amount still more and the volume of legitimate legiti-mate trade is indubitably very large as the wholesale merchants of this and other cities are well aware Moreover some idea of the magnitude magni-tude of speculative operations can be formed from the recorded sales only Perhaps 30000000 would more than cover the nominal value of all grain sold in this city last week contracts included about 45000000 would cover the nominal value of all cash and all option sales of cotton and 810000000 more would cover the sales of petroleum and provisions and yet a great part of these transactions involved the payment of money except in the deposit of margins Thus it is evident evi-dent that the flood of speculation has risen dangerously high but it is also evident that the volume of egitimate trade is much larger than I ever before o j j p t 0 |