The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-05-17
WALL STREET VIEWS,

NEW YORK, May 16.-Henry Clews, in
reviewing the course of the stock market
during the past week, in part, says:
''The May official crop report, though
not iuspiriting, shows general
improvement on the position Of a
late and the weather remains unstimulat-
ing: but the condition shows a higher per-
centage, and as indications now stand
| there is nothing inconsistent with the
possibility of average crops; for a slow
growth--all ather conditions being equal
is usually conducive to better maturity
and richer yield than comes from the
forced stimulation produced by high
temperature and dryness. The crop report
deals cautiously with the question of cot
ton acreage, on the ground that planting
is this year unusually late. 1t estimates
that on the 1st of May only 7S per cent of
the intended planting has been effected,
and says that, so far as present data would
warrant an estimate, the decrease from
last years acreage may be taken at IS per
cent, but defers a definite conclusion un-
til the returns of June 1st are forthcom-
ing. This warrants some hope of a whole
sale decrease in this years planting; which,
if realized, will be great boon not only to
the cotton states but to the country at
large. A decrease of even Is per cent. in
this years crop would thereby help that
ScCbiOu OuU VI lUS pIcSSnb
The trade of the country at large, ex-
cepting the south and the Pacific coast,
though nowhere booming, may yet be re-
garded as in a sound and conservative po-
sition. The bank clearngs for April show
in this city an increase of g. per cent over
last year: in the middle states Of III per
cent; in the middle western of 1919 per
cent; and in other western of 81 per cent;
whilst i'll New England there is decrease
of g.. per cent; in the south of O ) per cent;
and in the Pacific of 81 per cent. Consid-
ering that the general tendency of prices
is downward, it is reasonable to conclude
that the gain in the quantity of products
and properties transferred is not fully re-
hected by these increases in bank clear
ingS; which seems TO warrant the inference
that the volume of current trade is larger
than is generally supposed and explains
the improvement in the earnings of the
railroads
Each succeeding week shows recovery
in our relations with the London market.
The two marts, however, are waiting upon
each other, each watching for the other to
make forward movement and each afraid
lest the one should seize the opportunity
of any rise in prices to unload upon the
other. Under these circumstances, Lon
don is especially feeling its way, and yet
appears to be gaining confidence that New
York will keep pace with it in any ad
vance movement. At the same time, the
tone of the London market shows recov-
cry in its intrinsic condition and a sound,
though slow, progress towards GONZALES
cence. This week London has been much
more buyer than seller on our market.
The demand, however, has run rather on
bonds than on stocks, and has shown a
preference for second-class Iow-priced
This demand has helped to
weaken the rate for sterling bills, with
the effect of stopping, for the present at
least, the outflow of gold.
1.-The improving tendency at the Europ
can financial centers is encouraged by
symtoms which suggest hope that more
amcable relations may be established be-
tween the nations whose mutual jealousies
keep them virtually upon constant war
footing. The interest shown by the
British government in the silver question
and her expressed intention to participate
In the forthcoming bimetallic conference
may be regarded as auguring we'll for the
chances of something being accomplished |
through that means for mending, if not
the lost status of silver rs COM
pared with gold. This uniform drift in
finances towards healthier
conditions cannot fail to exercise a bene
fetal influence on investments in this
Though slow and unconspicuous,
the Improvement must be broad and fund
in It's later effects"