The Wichita daily eagle., 1893-01-24
WhlL STREET FORECASTS.

NEW YORK, Jan. 23.-Henry Clews, IN
his weekly financial circular, says in part:
1.-THE intrinsic frmness of the stock
market that has been so apparent for some
months past in the face of many unusu-
ally depressing influences, seems to be at
last finding expression in genuine up
ward tendency Of prices. Wall street has
watched those influences with remarkable
self-possession, and, whilst the bears have
been permitted to use the unfavorable cir
cumstances to their full bent, holders have
steadily stuck to their properties, from
confidence that the dangers would not
prove permanent and that sooner or later
the market would take a favorable turn
It has required no little nerve and steadi-
ness of judgment to hold on against con
ditions sufficient to create general demor-
alizatiOn; and il is no small guarantee for
the future of the market that it is in con-
troll OF holders SO well qualified by foresiRh
and resources to take care of their inter
ests.
Perhaps the most potent influence that
has held back the pulls from active
operations has been the uncertainty as to
what might develop out of the silver stua-
tion. They have cared less for what
might come out of the negotiations with
foreign powers than for what might be
done by congress in respect TO home silver
purchases. Within the last few weeks,
evidence has been daily accumulating OF
an earnestness and unanimity Of public
feeling against further Increasing our
stock of that metal which puts it almost
beyond doubt that, before the danger
point is reached, the law OF 1890 will sure
ly be repealed without qualification; this
growing belief not only seems TO
strengthen confidence in our currency sys-
tenn but Will also greatly improve the
Chances of a settlement of the whole queS-
C.on through the adoption of an iuterna
tIon8l system OF bimetallism.
The strengthening tone of the stock
market is also helped by the appearances
that the export movement in gold will
soon exhaust itself: and the street" is
disposed 10 the opinion that we have
about reached the elimination of the ex-
traordnary shipments of that metal
-Four lmpOFtaut ClrCu instances seem to
distinctly favor that view: ID The prob
ability Of the govern meut suspending pnr-
chases Of silver favOrS the Cessation of the
return of our securities from Europe and
may quite possibly create new demand
for them from English investors. Indeed,
for some weeks past, this tendency has
been quite conspicuous, the exports OF Sc
CurlJlss having largely exceeded the
amounts returned. l2l The dangerously
e'I-aN'ti ~ D" = u L ACA-SA PJ4ittCS HD0 LAc
remarkable declarations OF the German
chancellor in giving MS reasons for an eu-
IarEems1t o. the Imperial army, are both
calculated 10 uusett4e confidence Ia a wide
range OF European Investments, which
would naturally have the effect of inn
proving the demand Tor American secur-
titles. 81 Again, the prospect OF the reduc-
tIou OF duties upon wide range OF our
imports is calculated To restrict
our foreign purchases OF such articles an
til the Change IN the duties takes effect.
which viii probably uOs be earlier than
eighteen months hence. This tendency