The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-01-26
THE FINANCIAL SITUATION.
What One of Wall Streets Bankers
Has to Say About It.

w nhI On6 OF Wall 6Dr6eJ'6 bankers
Has to Say About 1t.
NEW YoRK, Jan. 24.-The past weeks
business at the stock exchange, says Henry
Ciews, has been dull and languid, and the
prices of stocks have been weak and yield
ing. The realizing of the previous week by
some of the larger operators has not been
followed by a disposition to buy In again;
and, although there are a good many hold
ers who still cling 70 holdings which show
good prof s, yet the preponderant DISPOSE
tion at the moment is to dispose of "long"
stocks. There seems to be no general lack
of confidence in the current range Of prices;
but, on the other hand, there is an absence
of any new stimulus to buying, and the
"bulF' side are occupying q Mjcawberish
attitude, waiting for something to turn up.
Moreover, the position of the silver ques-
ton in congress has decided tendency to
hold business in suspense. Perhaps this fac
tor is TO some extent made to do services for
other less obvious causes of inactivity; but
IL is nevertheless felt that so much depends
upon what is to be the future quality and
quantity of our currency, that the decision
of this question must have a very important
bearing on the status of all securities which
do not distinctly rest on gold basis of pay
ment. Wall street has not yet ventured TO
discount the probable determination Of this
problem, either one way or another. The
purport OF such Information as is forthcom-
ing suggests a probability that it
will be found impossible to get
majority in the House not
only for fires coinage, but for any important
departures from the silver law of last sum-
mer. All reports as to the disposition Of
President Harrison convey positive ass ur-
ance that he will veto any measure that
would have the effect Of further increasing
the silver circulation, whether In the form
of cola or its paper representatives. This
understood attitude of the Presldent NAV
have the effect Of Inducing some 10 vote for
more silver who want to please their con-
stituents vet are really opposed to that
policy; but all the symptoms seem to indi-
caEe that it will be far from possible to pass
any bill by two-thirds majority of both
houses. The craze stage OF the question
seems to have eliminated. The more sober
and better informed judgment on these
questions of the eastern states is rapidly
gaining ground; and il New York bankers
and merchants were to make their united
voice heard in public protest, the result
would be quickly apparent ia a positive
rsvulsIon of sentiment which would make it
impossible to get any new silver legislation
during the present session of congress.
Still, so long as the question remains un-
settled, there is room for doubt; and that
doubt rests upon Wall street at the moment,
with very depressing effect. 1t isnot alone,
however, the silver question that holds
business in suspense. There are other ques-
tions of large Importance pending before
congress, on which there are spirited
differences of opinion; and these add to the
disp sitioD 10 defer operations until the
national legislature adjourns-always the
ardent wish of w all street in January.
Money continues TO accumulate in the
banks. From the interior movement, the
banks gained during the week $4,000, 900
not, and from the sub-treasury 100000,
making total gain of $500, 900. The in
crease of government expenditures and the
changes in tariff, which take effect under
recent laws, will cause a sharp depletion of
the cash in the treasury, and correspond
ingly benefit the banks, and that effect will
be more or less permanent