Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-03-26
THE FINANCIAL OUTLOOK.
Condition of the Money Market A
cOrding 10 the Financial Chronicle q

COndftfOn OF the Money Market Ac.
cOrding 10 the Financial Chronicle.
NEW YORK, March 25-Of money mat
tiers, the Financial Chronicle says:
with the exception Of a very close
money market, the continued lack of rain
in California, and cold wave which has
passed over the northern half of the coun-
try, attended in many sections with snow,
the developments during the week have all
been favorable to growth in business en-
terprise and activity. or course the strin-
gency in money, the rate averaging probably
about ten per cent. during the week, has been
a check to enterprise and a strain on needy
borrowers. But this is merely temporary
inconvenience, and likely from this time to
grow less severe. On Monday, the Treas.
ury Department will anticipate the pay
ment OF the April interest without rebate.
This interest amounts TO $7,3S97l3 So as
We stated last week, and its prepayment is
likely to result in the immediate disburse-
ment of more money than could be expect.
ed by anticipating the maturity of the bond
call. Besides the promise OF that amount,
there has already been received from
Europe during the week, s. lGS, 100 Of gold,
tWO-tDlrOS Oh WDlCn was IN \ American coin,
and, therefore became
Immediately Available
on arrival, and by to-day the whole OF the
weeks ports will be in bank, the last
payment for the gold bars having been
made by the assay officer yesterday. Added
10 these, we have at least 800, 900 to arrive
from California, with more TO arrive in O
few days from that source and other ar
rivals from nearby cities attracted hither
by the high rates paid, while at the same
time, and as result, in part OF this same
cause, there is a partial check in the flow
Of currency Westward. Altogether then,
it would seem PROBABLE that with such
gains in lawful money, with further an
ticipated gains from Europe and with less
going to the interior, turn in the none
tary condition has been reached.
The high rates for money have served
pretty effectually 10 curtail business at the
Stock Exchange this week. The leaders
have managed to check any decline, even
in the face Of periodical raids, and some Of
the specialties have been advanced. On
Wednesday and Thursday there was very
decided upward m0yemrnt in the Northern
Pacifcs and on the last named day the
tone was strong in the morning in the ex-
pectation of easier money and
Relief from the Treasury.
out IN Ine dltCTnOOH uHldFOIdOIe ulsDutCues
from Washington and active money made
an unsettled market at the close. Friday
was holiday at the Exchange.
1t is evident that the leaders have devoted
their attention almost exclusively to the
business OF holding the market where ii Is,
hoping that as money becomes easier there
will be some outside support, being en-
coursged in their hope by the satisfactory
increase in railroad earnings, the large sur.
plus of old crops still remaining TO be
marketed, the fairly favorable outlook for
winter grain and the improving business
prospects. With such influences operating,
IL the public had full confidence that the
roads would be fairly and honestly managed,
there could be very little question as TO
the future OF the market This loss OF
confidence in management, however, is
getting to be more serious element in the
problem OF future prices than some are
ready TO admit While earnings can be
and are turned on or off q given road at
will, and the whole condition made gloomy
or glowing at the bidding Of the operator
behind the scenes. the lambs may purchase,
but men who do not keep money to lose
will not