The Current Situation

For several months before election, no one understood future business probabilities because nothing was happening. Since election, there has been equal doubt and ignorance, but for the opposite reason--that too much was happening.

It occurred almost simultaneously to thousands of people that the smashing defeat of the anti-railroad radicals left a clear track ahead for railway stocks. Accordingly the Stock Exchange has been deluged with buying orders, and sharp advances have been caused. The public has been out of the stock market for some time, but it reentered with an almost unparalleled vigor and enthusiasm.

While the brunt of the election's effects was seen in securities, other markets were also considerably affected. Sterling moved up firmly, accompanied by other foreign currencies. The grains responded by advancing several cents. Optimism is also spreading with industrial circles, although not to the same extent as in rails or in the financial markets.