New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-17
THE BUSINESS OUTLOOK.
CONFIDENCE FELT BY MERCHANTS.
SOUND BASIS AFTER LIQUIDATIoN-THE VIEWS
OF MANY BUSINESS MEN.

men prominent IN mercantile and financial cir
cles yesterday to learn whether in their
opinion the recent heavy liquidation
in certain branches of trade had
affected seriously the commercial interests of the
country and whether 1t was likely TO be continued.
Among those who expressed their Views were large
spectators and merchants who have been in no way
connected with the Stock Exchange. but they all +.
agreed that the business of the country was
in the main in a sound and healthy condition, and
that it had not been crippled or damaged to any
alarming extent by the Wall Street depression and
the extensive liquidation which has been going on
for some time elsewhere Hopeful views in regard
to the present condition of business expressed.
Among those who spoke the subject were Jay
Gould, Russell Sage. Mayor Edison. Alexander T..
Orr. Forrest II. Parker. President Hatch OF the
Stock Exchange, Cyrus w. Field, Samuel Sloan
and Solon Humphreys
jaw Gould deliberately adjusted his eyeglasses
and carefully scrutinized the stock tape for
few minutes before he replied to the In
quiry of TRIBUNE reporter who had
asked his opinion in regard to the condition OF tho
general business Of the country. Looking up. MI.
Gould said quietly:
"Some of these things look very cheap to me-"
After brief reflection he continued:
"The recent reports from Europe are not so IA
VOTaDle as IDey nave Dccu thC} ihoiS"e0 S~i1-
siderable shortage in the crops We have in this
country large percentage of last years products
still on hand and at the same time abundant
crops this season are assured. We shall have sum-
cient to supply the European demand
which is sure to be made Oh U.s. The crops
are beginning to move. too, as 1
see from my reports from the West The daily car
statements which / receive from my railroads
show this very clearly; every wheel 10
in motion The earnings Of my railroads VIII
show very heavy increase, expect for the second
week in August The recent decline in stocks can
not have bad any great effect on the
business of the country. This is, !
think. in fairly good condition. Inc
telegraph business is a good index OF the state OK
trade, and the Western Union Company has returnea
to the full volume Of business which 1t did before
the strike began 1t handled over 10000 messages
at the head Office yesterday; the usual average
before the strike was from $1,000 to 10000 mes
saues n dav. In spite of the strike it will earn
handsome surplus above its dividend for the quarter
satisfied myself of this yesterday when ran over
the accounts with the Auditor. At all the princi.
nal points Chicago ST. Louis, Cincinnati. Louisville,
New Orleans and at Memphis, the reports showed
a large increase IN the amount of business think
that this is a sure indication of an active business
81 was talking yesterday with the head OF o
large drygoods firm in this city, who told me-
that rarely IN his experience lad he seen business
better or collections more promptly met.
OF course. some branches of trade and manufac'
tures have suffered from over-prOduc-
tion. but this is regulated by the law
of supply and demand Our manufacturers are
BEGINNING to understand how to handle this thingi
they agree to limit the production until the demand
oyertskes it, Take this little trouble at Chicago
over the passenger business TO CT. LOUIS
II has been settled by the Alton and the Wabash
poolng it, In the old days the roads would have
fought over il until one or the other
was exhausted. The railroad management OF to-day
is much better than it used to be, Why, when l
wav boy the doctors used to treat every disease
by bleeding their theory was to take away the
blood until the disease should have nothing lefe
10 feed on One of my arms is covered win scars
where the blood was lot out of me- All this Is very
different now railroad men and manufacturers
as well as the docto,s, have learned something in
the last quarter OF a century.
81 think the recent decline in stocks has been an
excellent thing. 1t has removed the weak
places in the market and stocks are
in stronger hands to-day than they were
before Besides the low prices have attracted buyers
from the country and Europe who thinK
rood safe stocks much too low. You would
hp surDrtSfQ 10 90 over tDo NtStciu OhiVh '''~-
books with ne and see the evidences of this buying.
Small lots of five and ten and twenty shares taken
away and put into boxes do not seem much
hnt they tell IN the aggregate.
drive has been made at Telegraph to-day, but II
was bv specu ators who are acting without rhyme
or reason"
WHOLESOME FLUCTUATIoN IN WALL STREET.
Russell Sage expressed the opinion that the recent
- at inst the rlUlt time.
You see if it had happened later" b. said, when
,ha husness of the country was In in full swing, 1t
would have shaken confidence everywhere. Now
!. has been only a little wholesome
arctu.tion down here in Wall Street and
we are all the better for the shaking
nm YES we all feel better for it. 1t hasn't had any
effect at all on the great industries Of the country
not a bit That's a ridiculous idea iho
commercial business OF the country 10
healthy and sound. and CON
stantly improving Some branches nave oeeh
lioudatlng Just as some of the men down hero nave
heen doing but the rest are all tue better ior IL.
The decline has been good thing for 1t has
onened the ewes of some OF the teegraph
strikers; they see now the risk that they were
running, and they glad to get oacx 10 WORK
aeaiu to get therold places If there had peenareai
manic tbev wouldn't have had chance to earn
their bread and butter The strike was oehsht l"
the Western Union because the company mas oeen
rid of a good many old soers' men VIC "'un
;La 70 discharge. YOU know but who will never get
hook They will have to seek some new occupation.
..Tne loss bv the shrinkage of stocks has been
tremendous but it has been distributed so
widely that tue effect has hardly been
felt But it hasn't induced people who
hought stocks for investment to part with them
That shows how rich and strong the
country has become lately. The outlook
is hopeful aud everything will be better Tor
the rest of the year. The Treasury offers to pay
the bonds of the last call without loss OF TO
the holders. That will have good effect on every
III ,nonev will be easy in consequence tbrough-