The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-04-18
FINANCIAL OUTLOOK.
Horny CLOVIS Weekly Review of
the Money Situation.
The CONDITION OF THE MARKET.
Effect Of Defeat Of tho Free. Coinage
ofsilvcr...It. Saves the Country from
tho Worst Form of Bad Faith and
Restores Conildcncc...April Settle.
mcnts...Situation Most Favorable.

scial Correspondence, Qfme Intelligence.

'INN'S' SN'''opo'"S"SVV HbS IWtltVtHNus
NRw YonH, April l6.-The approach
OF tho Easter holidays has tended to rc.
strict operations during tho week both
hcrc and in London. So also has the
uncertainty respecting Richmond Ter.
minal affairs. AS soon as these hin.
ORANGES are out OF tho way, we look for
an active md improving market; for
both natural and speculative forces arc
arranging themselves toward just such
course. BY
Tho market has been subjected to q
fair test OF its strength during tho last
few weeks Of reaction, tho Bears hay.
ing had free fling at 1t and tho out.
side public having almost forsukon it;
and yet it has throughout showed q
force OF resistance which demonstrates
that. it has a solid bottom. This
strength Is the moro remarkable con.
sidoring the very large amount Of secur-
tiles that has boon. steadily flowing in
upon us from Europe, amounting to
probably considerable over ono hun.
drcd millions In value, within the las,
twelve months; and also considering
tho disappoint OF the common OK.
pectation that our largo crops would
bring us correspondingly largo imports
OF gold. The forces that have beer en-.
ployed to break the market have man.
ifestly exhausted their vitality, md al
fairs have reached position in which
recovery in prices seems TO DO natural
ly In order. tl.
The defeat Of free coinage OF silver
and the probability that in the future
silver will either be protected under an
international compact, or will be rem
dercd innocuous by reducing or stop.
ping Its coinage in tho absence OF such
an agreement, is becoming more and
more and more agreed as OF the first i'm
portance as factor in the future value
of Investments. 1t saves the country
from the worst form OF bad faith that
could atflict the credit OF nation, and.
demonstrates to the world that though
our political institutions may admit OF
temporary crazes OF popular opinion,
yet VIC can always depend safely upon
the sober second thought OF our peo-
pie. There can be no doubt that, OF
the large amount OF securities returned
from Europa, very considerable part
was sent az the result OF apprehension
that they might become payable in de.
preciated silver and from a fear that
the prosperity of the United States
might be seriously, retarded by the
threatened insane policy Of uncondi-
tional free coinage. Now, that Europe
sees o reasonable assurance that this
danger has been averted it is reason
able to expect a return OF the demand
for our investments which has been
withheld for twelveor eighteen months.
Sincs the Barring commotion, the crea-
ton OF homo enterprises in Great Brit
ain and Germany has almost ceased.
and it is therefore to DO expected that
in both countries there will be dispo-
sition to put the current earnings OF
tho peopls into the, issues of other
countries. Already such tendency is
very apparent, in the case OF England,
in her recent steady purchase Of stocks
and bonds at this centre.
We are now through with the usual
transfers OF cash for efecting the April
settlements, and tho money market has
settled into condition OF ease that is
not likely to DO disturbed until next
August. Also, there are reasons for
supposirg that the ease may continue
we'll into or through the fall months;
for, at all the financial centres OF the
country, the accumulation OF money in
the banks is unusually large, while the
coinage OF silver keeps up a constantly
increasing initiation OF the currency, and
the lowness OF prices reduces, the re-
quirements for money. At tho same
time, the railroad interest is getting
into moro consolidated and harmon
ious condition, its weak spots are being
repaired-though in some cases with
"untempered mcfarland its reve-
nues are steadily increasing. 1t is cir
cumstances such US these that encour-
age the speculative spirit and stimulate
the buying OF securities for the tenn
porary employment OF idle funds; and
we look for the effects OF these factors
from this time forward through the
summer months, in raise OF prices in
good securities generally. 1t would
seem likely that the condition OF the
European money markets may also fos.
ter renewal OF speculation. The
amount OF specie in thesixgreat national
banks average s per cent above the
amount held a year ago, and the rate for
money inthe open market at London is
lal4 per cent, Mt Berlin II per cent and
at Frankfort II per cent These facts
forecast some sort OF effort to find EN-
ployment for money, even though it be
nothing moro than Swapping pennies. !"
In view OF the aforementioned con-
siderations, We regard the present sit
uation as favorable to the buying of
al saaLs..<- = :.