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Show "BUYER THIRTY." A number of brokers, in the face of the convulsed market, have concluded to cease making purchases b. 30, in common language, btiier thirty they sell only ibr cash, thus taking noriks. This measure alone would seem to in-1 dicatc the prices now ruling aro speculative, specu-lative, and too high. But wc think that thisiecling of distrust arises from tho fact that there isnot money enough in our market to carry mining stocks at the prices now ruling. Wc will admit, ad-mit, for argument sake, that the miucs are worth all they are selling for; wc will even admit they are worth more but wc cannot shut our eyes to the notorious fact that it takes over two hundred millions to carry these stocks. Two hundred millions would be a small sum in I'aris, London or New York, for the two Ibid reason that money is abundant there, and that stocks ot all descriptions are principally held by men who invest therein their surplus capital, or make a regular business bus-iness ofit. Who hold.i stocks here? In most instances men who take money out of their bu.-ino.', iutentionally lor a short time, ottcn i'rom one collection day to another, to make a turn, nnd who must be aUe to realise at short notice to meet the exigencies of trade. They rely mostly on bik aeooiiiiiioda-tiun. aeooiiiiiioda-tiun. Now, only urn or two bi'i. 1 auks hold out ibis so-Ciiiied aeeomuio iaUin. and the day they choc.-e to willihold it, everyk-dy realizes and the market i,-thit. i,-thit. In ...I her w.,rd.-. the I ..ink vl' California Cal-ifornia cm ean.-e a panic in stocks in live minute.- vhcip:vt.r it .-uiu: it,-- pur-pOM, pur-pOM, and -"iiictinie.i it dors .-uit iu piupon;. And this is why brokers are .i.ia.d tu bo bu. ines. :an F-'-i.x-u Fu,t. |
