Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-20
Fresh, From Wall Street,


j. s. Bache s. Co., to Oakley & Co.:
'The general topic in Wall street this week
has been the change in the administration,
and what position Mr.. Cleveland and his
party would take toward the tariff and the
financial questions of the day. leading
Democrat in an interview has set the party
fairly be ore the country, and says tnat II
the silver bill is not repealed before Con-
gress adjourns on March T. an extra session
will be called to repeal this law. There is
no doubt that Mr.. Sherman himself Will
bring a bill forward 10 repeal the law, ana
OH this belier Europe has been accumuiatlng
amounted to about &C, 900 shares. Itis also
fact that the election of Mr.. Cleveland has
produced better feeling in busin ess circles
abroad, as it will give life to some industries
which have been practically killed Dy tne
Mckinley bill.
Merchants uptown are asking whether
anything will be done with the tariff ana
they are, no doubt, getting cautious Tor TINS
reason. The party seems to be adverse TO
calling an extra session for this purpose,
though it would really expedite matters ifa
committee could be appointed before Con
gresS meets in December, so as TO Set tne
views of the reople and have bill framed,
ready and approved by the committee oy
December Nobody need fear that any
sweeping reductions will be made. Ii Is
moro than likely that raw materials Will De
allowed in free, so that the manufa ctur1ns
power will be greatly increased. The In
coming administration also have serious
matter to confront-that OF treasury del-.
cheney. The tremendous payments Tor pen
slons next year, amounting to SloU,0JuOuV,
will require increased revenue. An ahdi-
t1onal tax on high wines and spirits OF 40
per cent is talked about, which would yield
an increased revenue to the country or
about $35, 900 900.
.'On Monday the Chicago Gas people meet,
and dividend of ~ per cent will he de-
cared. 1t will also be shown that at least
81 per cent was earned on the stock. On
Tuesday the Monetary Conference meets at
Brussels, and thew orld is speculating on the
outcome of this convention. This Govern
ment has virtually framed the idea OF this
meeting in hopes of extricating itself from
Its dangerous position. 1t is not to be eX-
pected that the other countries of the world
will give helping hand, and for that reason
we do not think that anything will result
from it; still, it will show the people of this
land their necessity for quick action, and
may show the West in particular that the
benefit must be Gone away with;
of the silver market if this purchasing
power is stopped: it's first effect will prob
ably be lower prices for the metal, but after
that n steady market will De looked for.
silver of this country is about SO or 81 cents;
of course, some mines can produce silver at
from 30 to 40 cents, but they are very few.
'The exchange market has been strong
all the week, and the fear of possible gold
exports has forced out quite little long
stock, and the bears, seeing their oppor-
tunity, hammered prices ali the week.
Nothing can be said ut present as to
whether gold will go forward next week,
but If Europe keeps on buying the way they
have been, it may change the outlook alto
gether."