The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-12-30
The FINANCIAL REVIEW.
Various Influences fayoring the
Value Of Securities Beginning
to Have Effect.
Railroad Bonds Are Now Backed
BY an Extraordinarily
Strong Situation.
The Specter OF War In Europe and Also
In This Country-Iho Silver
Question

= Spoce9r = s"1 :" -
- inis Country "
question
4
NEw York, Dec. 29.-ESpecial. The
Inst circular issued by tho banking house OF
Henry Ciews 81 CO.. II, LIB, is Broad street,
and 35 Wall street, says: In our late ad-
vices. we have expressed the opinion that
hes various influences favorinE the value o.
securities would probably begin to show
their effect during the latter part Of this
month or tho first hall of Janusry. The
course Of the market during the past week
indicates that such a movement is prob
ably now setting in. There has been a
steady gain in activity, and nearly every
stock on the list has shown more or less
improvement in price. towards the close,
there was naturally some realizing owing TO
IN. intervention n the holidays and the
7 49,. -..l. faII,u;na, ~
prospecs oia pioAon "suA -
there appears TO De more IMAM one o"yeI 70
each seller and the tone of the market IS
decidedly strong. In the bond market,
thar. 1. cans;darahla huuino in anticina-
.. Z e '.Ns..a. $500 - - forth-
oion " tue ii1ses.iienS 1.a " $500
coming on the payment OF January interest
and dividends, and tho quotations for
mortaayas cnntinne to show an upward
.a.a.on+ ,uh;ot, i ,u,,o,ly the nrecnrsor
~ "A'e, .f,.S~-n.-
o. 9 Flse IN sbocRs. AIehouen'
the close of the year is attended with a good
deal Of postponement of speculative buy
inc. vat this YEAR the expectation Of a JAM
ha;.a ,a,.r.i1v .on,,;na Il 10
8uaIy 11so oo.us u. y.
not lmprobaple that tine Closing week Oh
1891 may prove an active one.
Railroad securities at large are backed by
~ avn. ordiparil strong animation. The
SA.1aI .s..sa - n1as,,aa ,,;th r.feo
prlncipat routes are Dloeheo WIN 'faiuo
which they lind 1t difficult to
The coal roads have this year moved an I'M
nracedented tonnage: and although there
IN sa.a.a.a $40 1, s+oo.e ~ ontbrooite
= T 's.upo1a'S sa4A - a.. 80. ,.sS
there IS reason 70 e1peoe enaS tnls lalRe
movement may be continued through 1852.
ING of the coastward movement Of the large
maize crop, which will crowd them with
tonnage az much as the wheat
lines are already surfeited. The recent re-
pofta Of net earnings show a considerably
higher ratio Of increase than does the gross
anticipated, and which has had it's influence
in promoting the Improvement in stocks
during the past year,
The foreign markets interested in Ameri-
can Investments have followed the improv-
ing tendency on this side the Atlantic.
market strengthens the favorable feeling
shown towards our securities, and the adj
vices from that quarter Indicate q DISPOSE
zion to cooperate with home movements
in favor Of higher prices. European poll
tics. however. remain unsettled. The
Franco-Bulgarian incident is exciting much
uneasiness, lest it may develop into a cause
of quarrel in the interest of Russia's am
bitious: and it ia announced that the three
dreihund powers, significantly backed by
Great Britain, have put themselves in OPP
position to frances demands, Here is a
distinct clash on the lines on which the
great powers are so sharply divided; which
cannot DO considered uuimportant, and
therefore excites watchful interest. At the
same time, the internal troubles of China
are becoming a delicate question as between
the foreign powers. Ih advances of Rus
sia toward the Pamir country are regarded
as threatening Chinese territory and the
British Sphere of influence in India:
when, therefore, the great powers are on
the point of an armed Intervention in
China, without clearly defined concert. and
some of them having large territorial am !
billions, it is not easy to say what NAV
come ont of such a scramble. 1t is
significant that England stands aIoof from |
any concerted Intervention in China and ia /
planting her bull dogs on the watch against |
the Imdraudlng prUcilvItlGS of Russia. These
things are sufficient to keep up a certain |
feverishness in financial circles abroad: but |
such an effect is calculated rather to i'm
prove the disposition Of European Investors
towards our Securities than otherwise. We
also have our own war speck. Our relations
with Chill are becoming more ana more
threatening, and but q brief space remains
for her to choose between the alternatiyea
Of satisfaction and war. Wall street has
already but its estimate uuon that contin-
eency, and has come to the Conclusion that.
in the event of the worst bappenino there
can be but one possible end to Tho serim.
mage with our gaucv little naiohhor. and |
that the cost Of it will simply leave so muoh
less to be gauandored by noliticians on an