The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-06-01

weaker stocks have been hammered dow
to 4 point at which they may be considered
fairly cheap. Ihe earnings Of the Goa
stocks begin to show some of the benefits
claimed for the Reading combination anG
are strongly supported. and that 10 quite ~
important element of strength. Richmond
Terminal. though still ar uncertain factor
is less than it has been . cause Of disturb
ancs, and, should il be taken under the
wing Of Drexel, Morgan & Co.. it, troubles,
if mot ended, will be indefinitely postponed.
Atchison g. Topeka il attracting more con
hdenee, and its new loan is received with
some favor. AZ to the large group OF
EraaRsrs, which have been SO long kept in
suspense BY the rains n foods. they now
benefit from the improving weather and
while the instances Of real and permanent
injury from tho late weather have mate
rally lesssned. The nercurial "indus-
trials" are. for the time being, exempt
from any special causes Q disturb
ance. The net earnings of railroads
have increased nearly 10 per cent. over
those of the same time Of last year; and al
though the current business of many Of the
western roads il showing some decline. yet
the reduction 10 nsrely the temporary
effect of the storms and the impassable
oOu0IbiOA ol 0OuusAy AVnAos tO0
Of the city banks are again on the increase.
the surplus shown in last weeks statement
being $19, soc, 900. against IS, 200, 600 q year
previous. The OF garts of gold have ceased
fer now two weeks, although At this season
We are usually shipping that metal. The
current demand Tor POND 'nvessnents Is
unusually active. and the scarcity in the
supply was strikingly apparent in the fact
that the bids for the $40. COO. 900 of Pitts,
Gin, Chicago & st. Lo-is ~ marketed
this week amounted to several times the
SUM offered.
In these facts, We nave q strong eombi-
nation Of ssnditions favoring the market.
portant because there are now apparently
left 30 few factors in the situation Of n
anfavorabls character. There is likely,
however, to be some waiting until the
cardinal question Of croy prospects 10 more
settled. The news from the west and south
west becomes each day more assuring; n
80 far as respects wheat, all that can be
claimed il that . good crop il possible,
dependent on the prevalence of fns weather
from this time forth. As to Indian corn.
the season Of planting 10 doubtless late, and
in that case there il always a liability to
other two weeks Of Gns weather. the wheat
crop will probably bseoms An important
bull" element in stocks.
The European situation continues to
gradually in prove. London shows more
con dsn in American stocks. A eonsid-
cradle portion Of the new loan Of the Pitts,
| Gin, Chicago & st. Loais r. Il. was taken
on that market, which brings out . consid-
cradle supply Of sterling bills Of exchange.
| Specie il piling up in tho Bank of England,
and the rate for money in the open market
10 now one per cent. At all the continental
centsrs there 10 8 9lut of money, which
N ust sooner or later stimulate the demand
for invsstn snts and develop speculation.
The political atmosphere 10 calnsr, and al
though it IL ~nomsntarily disturbed by the
financial situation in Italy, vet the c~urtail-
msnt of that govsrAmsAt's military ex-
psnditurss, which seems inevitable, ought
to be . contribution toward public conf
asnce. The forthcoming international sill
Yer conference does not yet sxsits here the
interest which its importance seems to war
rant; partly bsoa use the pablis get little in
formation absu the matter and the progress
Of the negotiations. and partly because the
u%nfrlendly tone assumed towards it by .
portion OF the British press moderator Ok
pectations of full and complete success as
a result Of the negotiations. At present it
mates Of the probable outcome Of the con-
ference, 80 little being certainly known A.
to the real attitude Of the several govern
msnta participating in it and the personnel
of the delegates. The deliberations, how
ever, will BE- Of inealcslabls value a. show
ing what 10 possible and impossible in the
way Of arrangements for r~emsdying the
depreciation and demonstration Of silver.
To the United States the conference will
prove Invaluable, even should it show that
such arrangements are possible; fer then is
would be more distinctly apparent what il
the sole course to be pursued for oOnssry-
ing eur own monetary system.