The evening world., 1893-10-31
BANKER; ON THE REPEAL.
They Say the Greatest Obstacle
to Business Is Removed.
A Gradual but Csrtain Improvement
May he Looked For.

The prevailing opinion in financial
circles to-day is that the repeal of the
silver clause is certain to be followed
by an improved feeling and greater oc-
tivlty in all branches of business.
Some thought that the stock market
did not respond to the expected boom
this morning, because the action OF the
Senate had been fully discounted in the
advance of the past few days, and that
those who bought for the rise were
realizing.
1T is only a little furry" said Banker
Henry Clews this morning, (which will
soon expend its force, and then this
market will settle down upon a solid
basis, with a prospect of gradual but
certain improvement.
This menace which has threatened
the value of our securities in the mar
kets OF the world for 80 long a time has
ueen removed, and New York instead of
peing a mere local market, Is going now
to become again one of the worlds mar
kets.
%turbance from the agitation in Congress
of the tariff question. That has beer
discounted to a large extent by the di
minished production in all manufactur'
Ing industries"
Addison Cammack. the prominent Wall
street operator, said this morning:
when the bear, panic fairly started
last May, everybody looked after n rea'
sonable period for prices to stop de
%secnding. Rallies Of from tire
to five points We're fT Thy pre-,
sure to sell was checked from time !,
time, and most of the active shares die
recover from IL to l IL per cent.
These advances, however, only served
as an Impetus for a further downward
movement. The public clamor is run
ming, the other way row.. While ] dc
not feel bullish personally, l do not look
for marked declines"
The final disposition of the 81 yer
question by the SENATE" said Mr.. SeliE'
man, the banker, will give vast encour'
agement TO every branch of business
in the country.
immediately, and nothing can be judge
OF the situation by the course of tho
stock market to-day, OF possibly fol
many days to come. .,
They will develop gradually. and vii
of lc'ge operators in The industrial field
who lave been waiting ior some decisiv,
action by Congress before undertaking
imp Drtant enterprises
President j. Edward Simmons, Of tbs
Fourth National Bank, hailed the repea
vote IL the Senate as the first grea'
step towards a restoration Of confidence
in financial and commercial circles al
over the country.
law" he said, Congress has gone to tn,
IL VI lIlt tNll, anu mas given llt
country \ sound and stable currency
which Is the foundation of all bushes!
prosperity
The final passage of the Repeal bill
has served TO stimulate the cotton mar
ket, both at home ana abroad. Hubbard
d Price say this morning:
Nov that all doubts az to the sound
ness of American money have been dis
PEELED, 1t Is to be expected that we shall
see Il constantly improving demand foi
Z American cotton
President 4. y. Hepburn. of the Thir,
] National Bank, said this morning:
The repeal must nave Il beneficial
effect OF business. The depressing in
t%iuencc, It might have in silver has, i,
my Judgment, been largely discounted
Production has been diminished and sill
Yer mines hay" been getting into a posi-
tion II handle the product solely will
reference TO it's commercial value. Should
India impose an import duty on silvel
it might cause a further deDr"SaiOn.
Our silver legislation has been one o,
the principal causes Of business Stagna,
ton. Thar Is now removed. Others
however, remain People win not EN-.
bark in large business enterprises -
long as prospective values are likely Il
he affected by changes n the tariff.
Settled business conditions are in,
dispensable to business prosperity. am
for such acvclurm-nt W must avail
the action and adjournment Of the pres
cnt Congress-