Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1874-01-29
Financial Pro- poets Of 1874.


| FROM the new YORK Times.
Now that 1873 is dead, what ar,
the financial prospects of 1874? A.
here has been an unheard OF depres
sion, so there will be much sharper
reaction than has get beou expert
enced. The confidence of the people
is bel /, rapidly restored, and money
ls becoming abundant. After the
first week in January, greenbacke
will be cheap In Wall street, although
for few days they may be somewhat
stringent, owing to the large number
of loans called in for use on the first
Of the year. The money is nearly
back from the grain crop; it is
coming in all the time from the cot
ten crop the people who have been
boarding greenbacks are disbursing
them out of will or necessity, and
they come down to Wall street for
safe keeping. The $4,000, 900 re-
serve has been largely drawn upon,
and the supply of money, with much
business to employ it, has been large
ly increased Old railroads are worth
money because they wilt not be forced
for years TO compete with new ones,
and their credit will not be injured
by the failure of wild cat schemes.
The failure of the strike on the
Pennsylvania railroad is foreI runner
of loves prices for labor along all
| lines, which will of course put more
money into the treasures of the COM
panies. At present preparations are
being made by nearly all of the lead
ing lines for general reduction of ex'
penses, and if the money so paid is
paid out in dividends to bondholders
and shareholders honestly, the great
er part of our railroads cannot fail TO
prove paying property. New York
Central, Chicago 4 Rock Island, Mil
waukee l. st. Paul, Chicago 4 North.
western, are all in good condition,
and their securities are still much
lower than before the panic. With
large reduction of expenses, an i'm
mense increase in freight, and de-
termination on the part of the man
ayers 10 consult the public interest,
it would not be strange if for several
years to come there would be asteady
increase in their value.
A scheme is now on foot, which
failed about year ago, TO consolidate
the Milwaukee Il st. Paul and the
Chicago & Northwestern raiIrc ad
companies. The stock of both roads,
if the proposed arrangement is car
ried out, will be combined under the
name of the Chicago, NJ lwaukee Il
ST. Paul railroad company.-There
will be an addition of 100000 to
the share capital. which will be divid-
ed among the shareholders of the old
companies, 10 per cent upon Milwau
kee Il St Paul stock, and 20 per cent
on the Chicago & North western.
The failure of this scheme for lease
or consolidation, which was attempt
ed about year ago, was due to the
opposition of the Chicago Il North
western German interests, which
were represented here by agents from
the other side. 1t is understood that
these interests are anxious to bring
about the arrangement defeated
year ago. Germans believing that it
will be greatly to the advantage OF
both roads to have no competition
between them. The earnings of both
of the roads are greatly in advance
of 1872, and should a consolidation or
lease be perfected they would be still
greater.
Pacific Mail, with it's new iron
steamers and more economical nan
agement, is likely to engross a large
share of public attention by the fluc-
tuations of it's stock, which are as
changing as the waves over which
the ships pass in their route by the
Isthmus or across the Pacific TO Ja-
pan. It is not likely that Commo-
dore Vanderbilt will suffer Western
Union to remain subject to wash
lngs" in the Stock Exchange for
great time, and sharp turns up and
down may frequently be expected.
New York Central, with its great
improvements, which are rapidly be.
ing made, will come 10 for a share OF
public attention, and other railroad
projects will not be allowed to remain
entirely in the shade.
1t seems probable that the year
1874 will witness complete recovery
from the effects of the panic, and
that prosperity will rule, both in Wall
street and throughout the country.