New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-26
THE EFFECT IN WALL STREET.
FINANCIAL CIRCLES LITTLE DISTURBED Bf THn
POSSIBILITY OF WAR

r,ossogo and the alarming war rumOrs current IN
Washington with deep interest. The he"sooSs lonha
large sale for the afternoon papers p1"''' ''',
body wanted to know what the President ian 10 'as "
Congress the subject but few seeinea " '."" -
possible that war would really result sun, the IN
crest was enough 70 make the demonstrations the
urncpal topic of CONVEX sation with every one Io
bank presidents to Office boys.
OF course the news OF a more warlihe aspec, o'
affairs was element on the Stoch EA'N"s.' W.
prncipaI effect being TO restrict dealings There was
an early pressure 10 SELL though this seemed u oe uo
largely to the professional bear eiemcn'' i"'
pressure was noticeable in number OF the e'oihs
stocks The decline ranging from Is to "a per cent.
The movement was temporary, however. ie rieSc
idents message was read with interest ana conenua
ton. There rally after the earS ueNn"S' ~
the market remained steady until almost the Close
when weakness showed Itself though "thon' XIV
basis OF fresh news Arguments were ADVANCED 10
show that even a would only prove H'Vo'''p.e :"
commerce and finance. stimulating railroad anu III
dusrial ENTERPRISES and making available for invest
ment In a possible Issue of new Government oohuS
large amount of money now lying Idle
In reality however, the possibility, or at least inc
probability, of IA with Chm secmed ho' u %"
seriously contemplated by financial men eehe'ahy'
The prevailing attitude indicated by Watson Is.
Dickermau the president OF the Stock EXCHANGE, VINO
said In the first place don't think there VIII 10
any war and probably four men out Of five In wall
Street hold the same view. There seems 10 DC no
apprehensiOn OF serious trouble. TO be sure te he"s
today is little warlike, yet It's effect on the
me-, ke was trifing II war should come, IL might be
used for a time to depress prices. but the eouh-
try Is in too good condition and money Is 100
plen,jfuI for the effect to lie more than tenn
porary Indeed, a might prove Of advantage
10 MANY industries, and thus cause ACTIVITY. 80 lar
the probability OF war has been too slight to cause
serious consideration far Wall street Is con-
cerned.r
Henry Cews when asked what he would do in case
war was declared. said loosely
IF II really comes to with Chill. my duties
to my fellowmen who trade in stocks and invest Tor
living will require that | not go TO the front, but
| will induce every body else to CO. These are times
that require pronounced patriotism so everybody else
should shoulder arms and be ready to march at his
ccnniry's call"
Mr. Crews then grew more serons and entered into
a discussion OF the subject lie said
The first effect OF a war with Chill will be IN
bring the Government into the market as large
borrower of money. This will necessitae the issue
OF United states per cent bonds to be sold. The
avails OF course will be paid out again as fast AS
purchase, OF war supplies The surplus re-
present in the banks ls3,OOOOOO) VIII DC al
once absorbed by the Government and consideraDie
moro besides which cannot fail to change the present
plethoc condition Of money to one OF greater Scarcity
resulting temporarily I'm higher rate OF interest his
will naturally have important bearing upon the
stock market and will investors To demand
greater returns than per cent. which at present
satisfies the views OF conservative capital
lists. The rate required will not unlikely be
TO per cent This VIII last nhul
the National banks have had time TO purchase ana
turn In the Government bonds to the controller
VI the Currency rs basis for National bank currency
Ten money will again return 10 plethorc ease as at
present which will be followed ty hting period and
imitation prices. on the face Of it, II would look 10 be
- small undertaking on the part OF the United states
Government backed by 65,OCO,OOO Of people, to 10
duce 2,7OO ,O00-the population Of Chili-to snbmssot
especially when the resources OF the two Nations arc
weighed In the balance. but must not be forgotten
that the distance by water which vessels will
have sail Is 10000 miles three times the dis
tance between here and England, which VIII
be most expensive and difficult task Ia per
fo:m besides making the conflict Of considerable
duration. The difficulties to contend with can IN
be judged Of by comparison with the war be-
tween England aud America The population Of Great
Britain that time in he neighborhood Of
3OO0OOOO a. against 3,OOOOO0 In America. OF course
everybody what Great Britain had 10 contend with
Notwithstanding her superiority. The Gillian people,
with their present machinery and implements Of
fare are OF In u much stronger fighting condition
than the American people were at that time, and Will
probably he Inspired with fully as much ZEAL
-
general perap, than anywhere else and large bulletins
from Washington were posted every few minutes.
There great excitement, however a. the news
paper talk about the Presidents message for the last
four or i've days had discounted any pronounced effect
that might otherwise have followed ito publication:
The produce market was no doubt somewhat affected
by the news. but The fluctuations there were By
fractions Of Il point and it difficult TO distinguish
between the various influences. The members u Inc
fNchsnge all entered with less interest into
discussion OF the situation, bu, none seemed 70 expect
Ltur tdanf nf fha
We are all for peace here, and it doesn't seem TO
me that there l. any occasion for war. do not think
that anything has been said or done that cannot be
submitted to aud settled by arbitration II isn't
to stir up a war with small sister like Chill, ana
AS / said l don't mink IT will come to that.
ties actually be declared do not that the produce
business feel much direct result one way or the
done in English bottoms and could not be disturbed
By CHILEAN Demonstrations There Is one result that
to awaken the people to the necessity Of good Navy
ana adequate coast defences. 1t will also make them
realize that it may be a good idea to push the
Charles W. de, president Of the Cotton Exchsnee.
this day from the war rumors. but not to any great
extent. 81 do not believe in war; he said. and
settled By arbitration. No one wants war. SO far AS
l can see. except a few people who could make monE
of II. War couldn't have any marked efect on re
cotton market II It should come, for Chill is not in
It. from n business pc nj Of View
states said: &" Go not anticipate any war. think
thnt before things come tO an actual crisis chm VIII
to terms. They will be induced partly by tho
knowledge which they now acquiring that THIS
country is In earnest. and pasy by the pressure at
will lie brought 10 bear by English and German mer-
chants In Chill whose interests there very large
These people will do all IN their power land they Lave
good deal VI influence 10 avert active hostDs NO,
shouldn't like to say what the result Of war would
be on business here. II Is subject for much specua-
ton and doctors don't agree Oh the po.lt.'
Surveyor George ". L,o took q different view OF
the subject He said: 81 think that the possibility
OF war all hinges OIL public sentiment In Chin. IL
the CHILEAN Government thinks that for them 10 come
10 terms with this country will bring down the wrath
the people and the defeat of the present Gov
eminent at the polls, then there Will be war H. on
the other hand they think they do the right thing
toward the United States and still retain the support
OF the voters, then expect peaceful settlement
OF the trouble. do not think that English and Ger
man Influence Will have any effect On the Chnans.
They are a strong headed reckless. proud people,
flushed with the success Of their war with Peru and
hal Fnt%.H