The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-30
THE BUSINESS OUTLOOK.

A Generally Hopeful Feeling, Though the
Effects Of the Copper Collapse Are Stin Felt.
LONDON, March 29.-The Stock Exchange
settlement passed without troubles. The
feeling was generally far more hopeful, al
though misgivings continued regarding
some of the French financial institutions.
The success of the conversion of the Rus
sian per cent. loans into per cent. con-
sOlidated stock aided in restoring CONT
dence. Applicants for the new stock are
not likely to be allowed G. per cent. of the
amount of their subscriptions. In view of
the impending prosecution by the govern
ment of the Compton d'Escompte. the di-
rectors of that bank are reported to be re
alizing on their private property. so as to
be safe in the event of contingencies. 1t is
believed that a prosecution of the Societe
des Metaux would prove abortive, on the
one from speculating at his own risk and
peril.
Strong efforts continue to be made in
Parliament to induce the government to
legislate against syndicates: Mr.. Smith,
the government leader in the House OF
Commons, has promised that if the pro-
posals of the members are formulated he
would consider them. 1t is stated that the
paper syndicate has arranged the terms for
the purchase of all the English mills.
Newspaper proprietOrs have consequently
their SUPPLIES. A large consignment of
American paper has arrived. Its price and
quality compare favOrably with English
paper The feature of the week was the
rush to buy copper. At the opening large
sales were made, but they appear to have
satisfied the market and the demand has
since then greatly slackened. The whole of
the Paris copper stOck-150.O 900 tons-is held
by the bank of France, the Rothschilds,
the Bank of Paris and Baron Hirsch, who.
it seems, have agreed to hold their
stocks while the market continues disor-
ganized. 1t is understood that they have
taken the OverstOck at price about equiv
alent to to-day's quotations. If the market
improves and becomes steady, the stocks
I'll probably be placed on the market
gradually. A meeting will be held next
week to concert action, but nothing will
be definitely arranged until after the Paris
syndicates is increasing. The American
delegates here have expressed their feeling
strongly to English financiers. The pre-
vailing opinion is that it will be better to
leave matters to find their level. The mar
ket has become wearied of trusts and the
reversiOn to the old state of affairs, when
the Anaconda and the Calumet 81 Hecla
mines will probably drown out the others
at low prices. American stocks are inact-
is that the railroads will do better in 1889
than they did in 1888. Prices should adj
vance, but the bears in New York appear
to control the market, with the result that
the London market. beyond spasmodic
irmness, is generally weak.
The position of the Atchison, Topeka &
Santa Fe railroad creates alarm. A
rumor cabled from New York that
Mr.. Gould had accumulated .S1,OOOOOO
in cash for some object is attracting much
attention. and the disposition of the money
will be watched with interest. The deal
ing in railroad shares has been reduced to
zero. Many conservative jobbers, beyond
dealing in bonds, for which there is still a
market, have stepped aside for the present.