, 1877-05-03
AMERICAN SECURITIES.
THE EFFECT or tue EUROPEAN WAR ON OUR
BTOCKH AND bonds AnKoAD.

Tile Gff&GE TUE EGRQHEAH #AH VN QHH
STOCKS AND BONDS AnKoAD.
Cprr<s0ondsae< Es,c lork Norld.
LONDON. April 17.-lf 4 "beaF" movement was
concerted hero with any "opefatofs" In New
York, ali can say IL that II has been attended with
complete succtas.-A lttto more co1nplots than tho
,n.tgstoss Of 1t may perhaps altogether like BY and
hy. Thp ball haA been set rolling down tho bill.
and It will not b. an easy matter to stop II. Tn.
douptedly, however. Tbs reasons for the loss Of
public confidence In American securities rest upon
something more substantial than ths yagartes Of
apceulatoss. The revelations OF tho last three
months arc quito suticeut 10 account for Tho dis
trust with which people generally look upon sren
tho best Of ths Au.sstean railroad bonds:
With frcaru to tho effect OF q war. | hATo heard
money. from l!usslan and either bouds. they viii bc
anee Of cheap money hero tor some time to come.
and no new sources of Investment arc likely 10 b.
Tremendous rush tor rea1 est.se. aaa ths eonse-
9enes y thst nouse. .p1opskty ssresssliy 10 Lon
dS ~. t.
In South Kensington which less than ten rears sgo
.old tsr &, 500. they now a,k q. go tist then
Even Ia tho most ont'of.thcswaJ pscea and
In totally non. uelghborhoots thsy bare ths
T. asm,na t,ppm to
bceaase s thsir commission: % ase thefeoy Increased.
bubble md viii eollapss ono oi these aae days.
There VII bo fall ID house 'p!rope!tv just - we
saw orc hsppea 'n Now York: Wien ben noney @ BE-, BE-;
10 longer BIZ paid for houses in ts'ndon. and poo
rie who arc buying now vii, discover th1t ihoy
they will SEQ tor tho drst time what panic III real
sgsns u wlum sysak tel!a ~ taat 30 4aa nevst
Stes. aewn haso "u sMs1s bsea steadily E risinR
Al present. ats securities ase be'ng aold out risht
aa sas. ualtsd ssass. aasesameat aa. hare I'D
| rnlAcr serious drop, thu 'tnsw txes," for IN.
s.nss hs,ns tssn 1ss;ty Pot cent g., snfe T.; Iss
| city just now, u, that the GcEnsans want money
and a1o selling out ther foreign tasests'enss, Il
ds,f - .a5aGs a55ssay kss al
% buy: 4 man ~ 70 l1a,cs. ~ don't l!ks ths
look ot aIars; there y going to eo VA; and A "a
sssdy money. o. Something tSst e.a b. turned inta
money, u iaoments nottcs. sse tIe only tatns.s
I'd aa.Ss sss .. xos y as
.hS uslyt.eal fceItas ptst.(lins Ut present Sat. 4
u,all{ the1sfors ~! attempt " ssll produces 'a'
snt presently pespis vii. bsgtn to put or 4 thelt
9bsh pos. D. :eeesd
wsr wi ID Europe. .shs esuaot % dragged taso that
not M ili Iii. i'll aalte certain th.t Tho ordinary Do
| manu for your btts4*su9f, 1fon. sna Se4! Maa'
arcatly Increase. a toia you IN my last &sttSi,
our prospects hero for next harvest Arc very bad.
since I wtute On Saturday t6erc has boea ono pro
lonsrd. Faie raging Ill eye 9sss !he.e Islands. VIII
| sitosether 9ueh weather - wa sometimes hast
| In SsW York In the mldst OF m uausuall!
severe winter. And here we are IL The shit.
~ f1f advanced snd genial weather experienced
| ualss wiud ID howlinK o.af tbs f4ce Of countr,
Which It'll loas. = q Il hid beea recsatl1 desc
| lated b. Z second deluge.
Surprising, therefore. that the hasveats tn Amer
les arc good this rear. do not ses what y to pre-
disturbed state Of Afslrs in Europe. Aud thi
opnion wsa strongly entertained b ths baake.
10 teason that no other result could happen fson
ptotrectcd war. What would bo \ disaster I
tho Old World would b quite, the rasgrao
the Nsx. At present scarcely anybody ca