The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-04-25
FINANCIAL REVIEW.
Horny Clews's Weekly Letter on
the Money Outlook.
INCREASED ANIMATION SHOWN
On Wall strcct...IIopc Dawns Upon
Monetary Affairs In View OF tho
Prospect of an International Silver
Congrcss-..F;ncct OF Crop Prospects.
.ecial corrt,ponaenee q a. InaNlla,nter.

SPcfol Correspondence Of The Intdli1sntcr.
NEw fonK, April 23.-Anairs in Wall
street begin to show more animation.
On the one hand, tho ''bear' commit.
ments have subjected that class Of oper.
ators to pressure from tho "bulls"
which at times develops some lively
sklrmishing; and, on tho other, the un-
settlement Of the anthracite interests
through the recent Reading deal causes
frequent largo transactions In that class
OF securities, which imparts q certain
degree OF speculative interest to the
general list. At tho moment, these ara
tho principal aus conducting to tho
growing interest in tho market; but
though restricted, these influences are
attracting tho attention Of outside opor.
ators and may possibly lay tho basis for
q still more active movement later on.
Tho predominant attitude OF tho spccu-
latlvc interest seems to DO that OF OK
pcctancy. Although MT tho moment
thero Is some disposition to defer trans
actions until the further development
OF crop prospects, yet tho p~ropondor-
ant tenor OF influences bearing upon
tho course OF prices is construed us
favorable.
There arc now before us four clear
months during which there can DO no
doubt that moncy.wili rule at excessive.
ly low rates; and:a like case may DO ex-
pected to prevail. in tho money markets
OF Europe. a great hope begins to
dawn upon monetary affairs in the now
assured prospect that a worlds confer
ence will soon assemble for celebrating
upon the silver question, tho invita-.
tons for such q conference having been
already issued by tho state department
and assurances received that England,
Franco, Germany, Italy and Austria.
Hungary will accept. That prospect Ia
moro assuring because tho promotion
OF the conference has been cordially en-.
couraged by Great Britain-the coun-
try Which hitherto has most persistent
ly opposed MI international e~ndeavors
to restore the status Of silver or q CO.
ordinate currency with gold. England's
new attitude in this matter is the moro
important because it plainly implies
that recent experience is viewed rs
having demonstrated the maintenance
OF silver to be 4 commercial aud financial
necessity,-an argument which is ton
fold moro effective Tor action on this
question than any mere thcorctic rea-
soning. So lar MS can DO ut present
judged, it seems quite likely that the
conference will develop q much more
friendly attitude towards silver than
has been exhibited at tho international
gatherings for similar purposes held
within the last few years. Should the
chances OF success in the conference be-
come conspicuously apparent, the effect
could not fail to be Immediately bene-
fetal upon confidence. And, in the
event OF Ill international agreement
being finally accomplished, such result
could only be received as an incalcula-
Bile gain to the future OF finance and
trade among all commercial nations.
1t is therefore not too much 10 regard
the anticipated negotiations as the in
PRODUCTION to tho financial markets OF
an element OF tho highest Importance
and which may be reasonably expected
to operate in a hopeful direction.
The unfavorablo report OF the depart
ment Of agriculture OH the April l con-
dition Of the wheat crophas a somewhat
discouraging effect and causes some
postponcment OF buying. 1t deserves
to DO noted, however, that the report
indicates no important winter-killins,
and emphasizes principally the latcness
OF the crop: which does not by any
means preclude the possibility OF n
good harvest in case Of subsequent fine
weather. 1t is also important to re-
member that We arc. likely to enter the
new crop year with Il surplus OF l00,-
100000 Of bushels OF wheat; which,
eve should the growing crop prove a
small one, would leave n good average
supply for export next season.
As there are just now some important
undetermined contingencies it is per-
haps wise to ~coniino purchases Of stocks
to fair drops in prices.
Hrrpy {, rv.,