The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1882-11-30
THE NEWS s.
GOULD INTERVIEWED.
His views on the Present and Future FL
nance Condition of the Country.


His Views on the Present and Future FL
nance Condition of the Country.
NEW YORK, Nov. 22.-Jay Gould in q
talk with reporter today, said he
thought the decline in stocks had gone
further than any element in the situation
would warrant. An uneasy feeling as
to what the policy of the government
might be with regard to the manage
ment of the public treasury had arisen,
and this neasiness had resulted in the
calling of loans to a large extent, which
necessltated extensive liquidation. For
his own part, he had not been purchas-
ing stock until the past week but was
now buying and should continue to buy
stocks and hold them, as they were
cheap enough to pay good return for
those who could take care of them.
Gould said the product of the south
west this year was very large and the
business situation highly encouraging;
the cotton crop of Texas would reach
l 500, goo bales, and that the state had
produced an immense crop OF corn and
wheat; Texas was now exporting more
cattle and wool than ever before; Kansas
has big crops and the same is true of the
middle section and intermediate states;
In the southwest the railroad rates are
being maintained and the roads are doing
a good business; there is q heavy immi-
grafton and large number of people
are going in by New Orleans and Gal
weston.
Speaking of the iron troubles, Gould
said the chief difficulty was in regard to
the Bessemer steel industry, which had
capacity for a much greater supply
than the present railroad building of the
country demanded The iron interest
was not repressed, and he understood 1t
had been doing fairly well. The Vulcan
partially until they could adjust the
differences with their laborers, but there
is demand that will keep the mills
running, if not on full time, partially, at
least.
Speaking generally of the railway sit.
uaiiOn Gould said the roads were never
in so good condition to do the business
of the country as at the present, as they
had all taken advantage of the prosperi-
ty of the past few years to perfect their
equipments and put them into first
class order. He said that on the Wabash
system the average for last month has
been only $1,25 per ton in an engine,
which is surprising for an article that
entered so largely into the cost of opc-
rating road.
preferred stock on the market. About
$15,0O0,000 of stock was held in Europe
and it was practically cornered.
In regard to Western Union Gould
said the books show a large increase of
investment holdings, and he produced a
copy which showed that one year ago
last September there stood upon the
| cooks 319,0S4 shares of stock held by
brokers, and 40S, 946 shares held by in
vestors. On the 17th inst. the transfer
books showed brokerage holdings had
decreased to 2T2, 543 shares, while the
| investment account had grown to 527 ;
457 shares. AT the present time about
| 5000 shares of stock week are passing
from the hands of the brokers into the
| box of investors, and at this rate it will
take less than year to absorb the spec
uiative stock. The cashiers balance to-
day shows 81 ,841, 600 in the treasury, al.
ready a much larger sum than would be
| required for the next dividend, which
/ is not due for two months
Gould said ne was not buying any op
position telegraph lines and found no ri.
| valry. He knew the position of the West.
| ern Union and was not alarmed or anx.
ious about the effects of rival lines
Notwithstanding the break in stocks
Gould says he has been for many days
steadily buying for people who were I'm
influenced by the clamor OF the panic
breeders. The same absorption in in
vestments TO which he had alluded il
the case of the Western Union was OBJ
servabIe with regard 10 other proper.
ties with which he was familiar, partic
ularly in the case of the Union Pacific
In conclusion Mr.. Gould said Ia
looked for substantial improvement il
stocks. and eventually a much highe
market as soon as the money situation
should be assured.