The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-03-30
THE FINANCIAL REVIEW
Bulls Tanned by the Uncertainties
of the Market Last
Week.
Silver, Boring Sea, the Reading
Deal, Break in Northern
Pacific.
The Monopoly Issue Calls for Special eau
tion-Thc Far Reaching Effect of
a Decislon.

New YORK, March 90 Special. Tho
last circular issued by the banking house
Of Henry Clews & Co., II, 13 and Is Broad
street, and IS Wall street. saws: There
we're too many uncertainties This week to
permit any aggressive movement on part
Of the bulls. The silver. question, the
Boring sea difficulty, the legality of the
Reading deal, the break in Northern
Pacific, and the approach of April settle
ments all contributed to restrict operations.
Investors, too, were somewhat discouraged
by the fancy prices at which some of the
good dividend payers are held. On Friday
there was an upward squirt on the strength
of the anti-silver developments at Wash
inpton: but the silver advocates are not yet
beaten by any means, and they may be ex-
nected to renew the battle at tho earliest
oprortunity. Nevertheless, Wall street la
not seriously alarmed in this respect. hav-
ing full confidence in the presidential veto.
The UNDERGONE of the market is unqu estion-
ebly strong; and stocks, being in strong
hands, would no doubt readily respond to
favorable conditions. The industrials have
exhibited considerable activity, but this I
can hardly deem q satisfactory feature i'll
selecting them as leaders in view of their
heretofore cratic character.
The monopoly issues have introduced an
element of uncertainty into the stock mar
ket which calls for special caution on the
part of investors and spectators. II not fer
specific precaution on the part of the or
change itself in admitting unfortunately
go-called securities to it's list. Public opin-
ion is becoming more and more decidedly
hostile to whatever form of organization
conspires to defeat free competition. Con-
press and tho state legislatures find it
necessary to respect this determined atti-
tude Of the people, and at no distant time
the laws will be 30 framed that nowhere in
this country will any form of corporation
which aims to exercise the powers of a
monopoly be able to exist under the egis of
the law. The attempts of the trusts to
evade the penalties of their illegality by
organizing under the loosest form Of legali-
cation to be found under the atAte laws
will become futile. The procurement Of
control of a system Of competing railroads,
under such expedisnts as have been adopted
by the Philadelphia IL Reading, will be de-
clarsd illegal, because contrary to public
policy. The law will be- constructed with u
sintple purpose of preventing the defeat Of
competition by m%onopolies; and that form
of prohibition will be made to apply to any
and every from of organization. OF this
there can he no reasonable doubt; for the
present drift towards monopoly IL 80 WIDE
spread. so utterly revolutionary in every
sense in it's character. and ao threatening
to vast interests that to suprose II cAn be
much farther tolerated wonld be to assume
that American citizens had lost their re-
gard for freedom aud their sense Of self
respect.
With this prospect before our monopo-