Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1884-07-18
CLEARING SKIES.
The Business Outlook a. Viewed by
business ncu.

Tho h,si.o.. .,,,,..,. .......,,-. a.,
ou-'o'N' "1''lu'"B ~ '"o
opIhlols OF gentlemen closely connected |
with the financial interests of the country, is |
extremely honeful The almos, unanimous
sen,i,,o,i, 81 ',,.,,,,.e -.
- i'':0''o W '"0 ''a,''iH 0''''"''
ID VhaI IN HIiHu Ilon that has been going on
in financial and business circles for many
months pas, has hid salutary eff ct in many
ways. 1t ia5 "ijcd out Of existence many
firms that were doing an entirely fictitious
business, and ii has tauLht every one the
necessity for an increase of caution aud con-
servatism. The banks throughout the
country have strengthened themselves m4-
terially, and are now in a position to aid all
legitimate business in all proper ways
MIR. George G. Richardson Of the extensive
commission house Of George G. Richardson
X Co. OF Boston takes very hopeful view
Of the situation. He SAID II believe the
present depression will work itself out in
| time. In my opinion everything will be all
| right again. do not see why the banks are
not in Il situation 70 loan on good security.
Trade has been interfercd with by the stock
panic, and if prices were to 90 down it
would hinder business, but man ought to
do business independently of stocks Ii he
does not ne is liable to suffer-
This opinion is the prevailing one, and
the leading members OF the various trades
all hope for brisk fall trade, and look for
Il speedy improvement in the situation.
Mr.. William II. Vanderbilt Stated in a
letter to the Boston UerdH that, in his
opinion, the dlstrust in the cOmmerClH world
is rapidly passing away, and that there is
every Indication of returning confidence.
He thinks that by November everybody will
be satisfied that the recent panic was good
thing for the country, and lesson to people
and corporations to live within their means.
| Mr.. Jay Gould said, in a letter to the same
paper
Il think tie crop situation, upon which
the progress of the country 50 much dc
e ponds, is destined to be the great factor il
, removing the fec ling of uncertainty and dis
, trust which has long pervaded the iinancla
and commercial world Both the public anC
private advices agree in the important fac
that the crops at home are more prOmisn.
= than ever before at this season, and tina
c here is every reason to believe that TIT
s country will be blessed with phenomenal,
a large harvests. 1t is not only in quantity
but also in quality that the crops bid fair Il
excel this wear. While this is the state o
affairs here the crop situation IN toroigl
! countries which compete actively with tn
= United States in annually supplying the dc
Iticiences of Great britain is tar from favor
3 able. The prospects have been blightcd b.
8 wet weather in some countries, and b,
drought in others. Ia well intorme,
circles it is now generally conceded tina
I Russia and India will not have near SO mucl
to export as usual.
"AnOther remarkable feature OF the gen
o eral situation is the constantly iucteaaiu,
S strength of the New York city banks Tn
statement issued to-day showed an increas
IN reserve of over s., 900 900, and the bank
~ are now at point So, 100000 above tn
c legal limit. The importance of these figure
. lies IN the fact that they ensure to borrow
ers a long period OF ease in The none,
d market. The banks can now well afford L
r. grant increased accommodations to thei
- customers, and will have to adopt this cours
y in order to find employment for even a par