New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-26
TIE OETLOOK.

The air is not clear in Wall Street yet But
substantial and important Improvement has
been effected during the past week III the con-
ditons necdful for healthy trade, II not III
prices of securities, which are still greatly
depressed.
Time has been gained for new adjustment
Of interests and burdens. The fact that week
has been gained for such necessary clearing OF
the way, without any new disasters OF maShl-
tude. is of importance III itself. There has been
opportunity for the liquidation OF a vast amount
ofunhealthv speculation, and it may be assumed
Ia It securities generally are now more strongly
held than ut any time prior 10 the diSturDa nee
1t is especially important that the Milwaukee
wheat clique, which has been stub0oTnly hold-
ing the price without regard to the foreign de-
mand, has at last been induced or competed TO
unload. This leaves a free market, gives nope
of more liberal movement, and releases banks,
particularly at the West. from very heavy COM
mitmcnts. Thus released. they will he the less
| Obliged to draw resources from this centre.
! 1t is also a matter of lar &c importance that
| the danger OF a great strike in the Western IRON
mill, has been removed. Though this suspen-
sion might have benefited some Eastern
concerns. it could not have failed to involve
heavy losses which, i'm the end, the whole com
mercial body would have been obliged to share.
The banks of this city have passed through a
srvele ordeal. bat so few OF them nave Dceh
even assailcd by suspicion that there Is ground
for hone that further disasters may be avoided
In the liquidation which has taken place.
/ investors have taken away a considerable part
of The securities which banks and dealers here
have been carving. Much has been done 100,
to enable the public to discriminate wisely
. between the safe and sOund securities and those
which gained an apparent value III the sp' cala-
! live roriod through which We have passed.
4 LISA substantial benefit, also, that the manage
mcnt of some great banking and RAILROAD corpora
tions has been disconnected from speculative
interests which had caused distrust, or brought
serious los. The Elie property, i0r example,
is not less bat more valuable because 1t no
longer hasa connection with a firm like Grant,
Ward & Co. TO scatter whatever money II may
earn. The Louisville and Nashville Is not the
weaker for the recent change IN It's manage
ment. If cannot be said with certainty, Of
course That we have with nsscd the last d'sc'os-
IRE of unsounduess But The business of this
city has reason 10 congratulate itself that II has
( thss far stood the test 80 well.
/ One thing is needed, to restore public con-
! fidcncc. That is punishment of the guilty. That
! some persons have been guilty, everybody
knows Ii is moi for the press to pronounce
Judgment but public opinion will surely not be
satisfied. nor will confidence in the integrity OF
corporate management be revived a. il should
4 b, unless there is manifested enough Of public
I Justice to insure the punishment OF criminals.
! 1t will not do any longer to have 1t said with a
color of truth, that man who steals by the
millions in Wall Street can escape with
/ impunity.