The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-12-15
WALL STREET VIEWS.


NEW YORK, Dec. 14-Henry Clews. in
his weekly financial review, among oIher
things says:
"At the moment. speculation is held in
check by the influences incident to the
approaching holidays and to the settle
ments and making-up of accounts usual
at the closing of the year Besides, the
opening of congress. with largely new
political complexion, induces a certain
amount of waiting for indications of what
IS likely to be the future course of legisla-
tion upon certain important questions.
These things have a tendency to defer
operations and may keep the market quiet
until about the close of the year, or possi
bly, smewhat longer. But in
the meantime steady stream
of very favorable influences is
gathering into an accumulated force that
is likely before long to prove irresistible.
All signs go to show that, for the next few
months, the traffic of the railroads will
largely surpass ali precedent. Already, the
roads connecting with the wheat-growing
states find their rolling stock employed to
its utmost capacity, and they not only are
unable to accommodate the coal traffic but
are compelled to refuse large quantities Of
grain, which is accumulating in immense
stocks in the elevators and store-houses of
the interior. Next, the roads connecting
with the corn belt will be equally taxed
far beyond their ability to move the crop
of maiZe,-many times larger than that of
wheat; and to this must be added an ex-
traordinary forwarding of oats for
export, to supply the European de-
ficiency. When the figures come pour
ing week after week into Wall street
showing the extraordinary magnitude of
this traffic, it will need no propheSying to
say what must be the effect upon specula-
tion. At present, the disposition is to de-
fer the discounting of these extraordinary
prospects until the opening of the new
year; but it remains to be seen whether
the market can hold itself in restraint so
long There are already long-headed
wealthy operators at work accommodating
selected stocks in ways least calculated to
attract attention; but the rank and file of
spectators and that unknown quantity
''the outside public" are doing little and
are not likely to awake TO the real signif-
canoe of the situation until the brainy
leaders give the cue
1.-The presidents annual message has had
a good effect upon Wall street at large. 1t
is regarded as not only an able. moderate
and statesmanly document, but also as
revealing healthy condition of the busi-
ness of the country, and as favoring meas
ures promising stability and safety, and
above all as affording guarantee against
any further approach towards danger in
our silver policy. The new political COM
plexion of congress is likely to produce an
exciting session in the lower house. IL is
to be expected that the main object OF both
parties will be TO make records for the cleo
is likely to be enacted, as the
minority will be held in check
by the majority, and the majority
will be restrained by the senate or the
president There is therefore nothing in
congressional prospects that Is likely to
seriously disturb Wall Street during the
coming months.
I'm Europe there is a singular calm, sue
ceeding the late financial apprehensions
and the fears of impending war. Exactly
what estimate Is 10 be put upon this new
aspect. II Is not easy 10 say IL would
doubtless be utopian TO assume that there
has been no occasion for all the recent ex-
element, and not safe TO conclude that all
the dangers have been permanently
averted There can be no doubt that
financiers and diplomats have united TO
put the best possible face upon perilous
situation, to plaster over the weak spots
in finance and politics and 70 conceal the
pitfalls; and they have thus succeeded ia
recovering the reius into their hands ana
arrestiug the headlong rush towards we
know not what catastrophe. Quite POS
sib,y, all courts have been so alarmed At
the near possibility OF being rushed into
great war without the necessary eO-opera- /
tioa from the banking power, that they are
anxious 10 postpone the inevitable until
the sinews or war have become more avail /
abe. but there j. nothing n any quarter
TO indicate that the fundamental causes OF
Quarrel nave been even abated, much less
removed: auC we can hardly hope that
European huauc.srs viii maintain s8y
ether than a highly restrained attitude
London evidently thinks that Eugland
Will be able TO keep herself aloof from
& faf nd Il hE~ tfs=a.
find on that market s com parAIively hope (
full feeling and a continued disposition 70
take psrf n an active speculative move
ment AZ New YORK, which Is there awaited &
with sanguine expectancy
The money market remains easy; bat
the tsAaks have ceased 20 receive tbe large
cash remittACcss from the interior pre-
yaillng Tor some weeks pass- Considering T.
the immenss forwardiEEs Of grain from !
the west. this is not surprising and i = /
not i'm possible even that, under s1ch un- +
usual circumstances. New IcTk Mtghs be- !