The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-12-29
WALL STREET VIEWS.

New YORK Dec 2S.-Henry Clews in his
weekly financial circular, says:
Railroad securities at large are backed
Dy an extraordinarily strong situation.
Inc principal grain routes are blocked
WITH traffic which they find it difficult to
accommodate. The coal roads have this
year moved an unprecedented tonnage:
ana although there is \ temporary gain III
stocks OF anthracite. there is reason to ex-
pect that this large movement may con-
tinue through 1892 The corn routes are
! on the eve of the starting of the coastward
movement of the large maize crop, which
Will crowd them with tonnage rs much as
the wheat lines are already sarfeited. The
recent reports of net earnings show Il con-
siderably higher ratio OF Increase han does
the gross income; which is an improve
| ment scarcely anticipated, and which has
had its influence in promoting the i'm
! provement in stocks dnring he past week.
The foreign markets interested in
| American investments have followed the
| improving tendency on this side Of the At
! lantic. The growing ease in the London
| market strengthens the favorable feeling
! shown towards our securities, and the ad
vices from that quarter indicate disposi-
tlon to cooperate with nome movements
in favor of higher prices. European poll
| tics, however, remain unsettled. The
Franco Bulgarian incident is exciting
some uneasiuess. lest it may develop into
cause of quarrel in the interest of Russia's
ambitions; and it is announced that the
three dreibund powers, significantly
backed by Great Britain, have put them
selves in opposition to Frances demands.
Here is distinct clash on the lines on
which the great powers are so sharply
divided; which cannot be considered I'M
important, and therefore eXcites Watchful
interest.
AT the same time, the internal troubles
OF China are becoming a delicate question
as between the foreign powers. The ad-
vances of Russia towards the Pamir cOun-
try are regarded as threatening Chinese
territory and the British sphere of infiu-
ence" IN India; when, therefore, the great
powers are on the point of an armed inter
ventiOn in China, without clearly defined
concert, and some of them having large
territorial ambitions, it is not easy to say
what may come out of such scramble. 1t
is significant that England stands aloof
from any concerted intervention in China
aud Is planting her bulldogs on the watch
against the marauding proclivities of
Russia. These things are sufficient TO
keep up certain feyerishness in financial
circles abroad; bnt such an effect is calcu-
lated rather to improve the disposition of
European investors towards our securities
than otherwise.
I've also have our own war speck Our |
relations with Chill are becoming more /
and more threatening, and but Il brief |
space remains for her to choose between !
the alternatives of satisfaction and war. |
Wall street has already put its estimate /
upon that contingency, and has come to
The conclusion that, In the event of the |
worst happening, there can be but one /
possible end to the scrimmage with our
saucy little neighbOr, aud that the cost of it
viii simply leave so much less to be squan-
dered by politicians on appropriations that
would be otherwise distributed to win
votes. This, therefore, is regarded as a
matter of but secondary concern to Wall
street interests.
The worrying silver question is becom-
ing gradually less feared rs an element OF
practical finance. 1t is seen that public
opinion has reached a much sOunder and
safer position on the question than it held
earlier. The predominant sentiment of
that portion of the public which really
cares about and examines the question
seems TO have decided, on the one hand,
against an unqualified rejection of the
metal and, on the other, against an indis-
;rlmlnate permission of its free coinage:
and the conclusion is reached that the
)nly safe and feasible method of reconcil-
ng these two extremes is through doing
everything possible TO bring about an in
agreement, under which the
eading nations will bind themselves to
rec coinage of both the metals upon
Inform basis of valuation. Most fortu-
lately, the current of public and official
opinion in Europe is moving encourag-
ngly in that direction. England has
'thclally expressed her Willingness to in
roduce silver into the reserves
II the Bank Of England and
o establish free coinage in
ndla; and the strong popular feeling of the
ountry now finding expression in favor of
he double standard may easily make the
government and parliament willing to go
eyond these limits of concession. AT the
aIne time, the president has recently re- J
elved, through official sources, reports
1uch more hopeful as to tue prospects of
Il i-meta.lism in Europe than those which
ed him to speak obviously on those
hanceS IN his late message. While facts {
I this character are causing the men of I
Vail street to view the silver problem as
rltting towards a better solution than l
adj been feared, they see in the operation l
+ the silver law rs it now stands a potent {
lement of initiation. Since the act of 1890 !
rent into operation, IL has added about :
-, 100000 to the active circulation, and I
ill add at least $4,000, 600 more for each :
ear OF its continuance. The effect of this !
apparent in the present ease of the 4
honey market; and, judging from all pre-
5dents under such mutations, it is allow I
ble To expect that this condition of things
i'll result in more or less imitation of
ricaS -