The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-03-11
The Exchange V%ociferously Ex-
presses Pleasure at the Adj
journment of Congress.
Improvement Did Not Come, How
ever, Owing to Other IN
expected Offsets.
Little Support Looked For From London
March the Month of Uneasiness
Fluctuations Likely.
Especial Correspondence of The INDEPENDENT.
BANKING House OF
ArMpx CrEx,.r f a.
HENRY CLEws q Co.,
ID AND Is BROAD ST.. New YoRK.

BANKING HOUSE OF
HENRY CLEws d Co.,
Ii N 10 BROAD ST., New YORK.
New YORK, March 7.-While it is said to
be true that "the unexpected ALWAYS hap
pens" it is equally true that the expected
often fails to happen. So it has proved in
respect to the general belief that the ad.
journment of congress would be followed
by an improvement in the stock market.
The cheers with which the exchange on
Wednesday greeted the closing of the
doors of the capitol expressed that body's
estimate of the end of the vexatious
wrangling by which great interests have SO
long been held in suspense. But, at the
sans moment, tho attention of the market
was occupied with a series Of accidents
which more than Offset any benefits accru-
ing from the closing of congress. FOREIGN
exchange showed a hardening tendency.
and 1t was reported that negotiations were
pending with the treasury for $1,000 900 of
bar gold for export. Rumors were current
of renewed financial embarrass-
ments in the Argentine and
of new political difficulties in other
parts of South America; and a London
cablegram reported that an Important fin
Nlsh South American connections was in
difficulties, while rumors also were current
: ffecting the standing of q London bullion
firm, and an advance in the Bank of Eng.
land rate of discount was confidently ex-
pected, and the current lareeness of our
imports ss compared with the exports was
construed as favoring the export Of specie.
Such q concurrence Of unsettling circum-
stances was more than sufficient to neu-
tralize the exhilarating effect of the ad-
jonrnment OF congress, and 1t induced a
selling OF stocks at a moment whom a buv-
Ing movement had been expected to set in,
however, there has since been some abate-
ment OF these unfavorable symptoms. Toe
embarrassed South American firm has been
Sided over; the Bank Of England has not
,dy need its rate and has lost only Gigs, eco
If 5 ID during the week; only 5000, 600 OF
Rolu Ears has been put up for export in
stead OF the rumored $2,O0o,000. and the
app ehended failures in London have not
occurred. These escapes from misfortune,
however. have only partially suficed
to remedy the shock arising from the
above rumors; n perhaps for good
reasons. Both in London and here, there
10 . dssp-rooted impression that the Bar
inRs entertainments have produced many
weak spots in London finance. 1t is said
that those effects are beginning to extend
from Lombard street to Nincing Lane, and
that the inevitable curtailment of banking
credits to the South American trade must
sooner or later cause entertainments in
that important branch of British com.
Merce. How much real reason there NAV
DO for this apprehension il il difficult to
udge at this distance; but q distrust Of
such q nature will need at least time for lie !
,use, and in the meantime the London
market and every interest directly depend
~ upon II is likely to be kept in q sensi-
70 stats. The London Times probably re-
ste accuratolv tho sentimAnt NJ tha hs.t
pdon opinion whom II expresses ths fear