New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-12-01
BUSINESS PROSPECTS.
WALL-ST.

WALL-ST.
CONTINUANCE oP THE CHEERFUL FKELING-IM-
PRovEMESr IN THE BANKS AND IN rHR NEWS
FROM KNGLAND-PERMANENT INVESTMENTS IN
srocKs-BAsY MoNKY-SroCK DIVIDEND IN
WESTERN UNION.
Saturday was cheerful day in Wall-st.
me announcement OF the substantial end Of alarm about
immediate war with Spain made in THE TRIBUNE land
less suthortativey in some other newspapersl gave
fresh impetus 70 the tendency 10 recuperaton. The
OF the Bank Of England in reducing its rate
Of interest from 10 per cent, and the
gain OF over a million pounds sterling in the week,
combined with the favorable returns from railroads
and manufacturing establishments 70 restore con-
hdence in the future Rankers and brokers generally
expressed belief that values would gradually. and IN
some with pretty marked rapdity, appreciate.
They looked for the greatest advance however after
The payment OF the January dividends and coupons
Government ana other bonds This Will lberse nearly
f0OOOo00 in gold and currency. the bulk OF which they
expect nd seeking investment in securities dealt in
on the Stock Exchange.
Bankers also generally calculating on continu'
by the Government OF its drafts on the S4ocoOOo
reserve ST. 10000 Of which have already been put IN cir
cuation. Most Of the conservative BANKERS express
great hostility any schemes for further imitation, and
many OF them the Flea that even the 0OO
or any part " It. be allowed 20 remain in circus-
ton Most OF the brokers, however seem rather in
cned 70 favor a policy OF Initiation. and they claim
ghe support Of several OF the noted bankers, and
Of many more OF the manufacturers and merchants
Bankers generally insist that money must soon be ex-
oeedingly easy II is already flowing largely into Wall
st. Ell loan brokers call, 70 be used for
purchases OF stock for permanent investment at present
prices Investors argue that the advances thus far
only indicate healthy tone OF the market and insist
shat the rates ruling stl below the lowest
prices touched Immediately after the Boston fire,
even after that in Chicago.
Western Union continues TO lead the list Of active
stocks volume Of daily transactions 1t still IS
per cent below the prices ruhng before the panic. The
fun Of rumors about the purpose Of the Com
pany TO make 20 per stock dividend ont OF the
surplus hand, amounting 20 $l1 900. of which
s. 100000 ape for such dividend. Commodore
Vanderbilt. who j. the largest shareholder OF the Com
pauy, Is known 20 have intended such
dividend about the time OF the panic
and believed 10 he likely TO cause IL 20 be de
clared the around that represents net earnings
u Is me t.IUuldte property Ol sne StOch1oIueIS. iIe
earnings Of the Company under President OrtOD's
rklifui management, have been singulaIly well main
tanned throughout the depression. and showed in Oc
tober increase OF hundred thousand dollars over
the corresponding month Of last year. The worse the
panic grew, the greater seemed 70 be the demand for
Geographic facilities
Very general anxiety was expressed Saturday n
the tenor 81 the Presidents forthcoming message
with reference % foreign affairs. The street seemed TO
less for the financial recommendations OF the becre
tary OF the Treasury. "Since that silver resumption
business said broker, cit doesn't make so much
difference what Richardson says. It's 10 Congress we
must lOOK for any hints OF the financial future