New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1893-09-27
AS TO AN CES.
The Prolonged Debate On tho Silver
Bill Is Having Depressing
"a Effect,
But 1t Cannot Prevent Steady Recoy.
cry, According to the Review Of
!. @ CleWs & Co.
Notwithstanding Slow Movement Of
Crops the Rail- Dad Earnings Are
" Increasing. ?. l.%

New YORK, Sept. 26.-Henry Clews
& Co.. in their weekly review of the
financial markets., say: ...
The delay in voting on the repeal bill
brought business almost to standstill.
and the large traders showed no dispo-
sltlon to come to the relief until thew
received assurances that the senate will
soon act. The same may also he said
OF the London market In view of this.
prices for several days have been sag
ging. although one noticeable feature is
that long stock does not come out,
and the bears. while they indulge in
their usual pessimistic talk, do not care
to ID materially to their outstanding
short Contracts I regard the repeal of
the Sherman act as inevitable within a
comparatively short period. After hav-
ing withstood its dangers for 50 many
months and years, few days extra
delay is. OF small consequence, except to
ultra sensitive individuals whose nerv-
BUSINESS unsettles their judgment.
AtillROdeI huSfHHSS fkG proves.
Railroads generally are still showing
losses IN gross earnings as compared
with last year, but considerable i'm
provement. when compared with tho
last two or three weeks, which is taken
as an evidence that the tide has turned
and that all kinds of freight will soon
assume its wonted activity. Whether
they will continue to maintain tho
large increases which they had pre-
viously shown or not. it would be rash
to predict. 1t must be remem-
bered that the movement +
wheat. cotton, corn. provisions
and agricultural products has
been very backward. For various
reasons, though largely because Of low
prices, farmers have held back their
products as much as possible. The
Farmers Alliance has undoubtedly in
duenced many farmers in this course.
Whatever the reasons, therefore, it is
evident that the products of the soil, of
which we have an abundance, must
soon begin to move more freely, and
thus bring business to the railroads.
When it is considered that there is no
of railroads, as in
former panics; that prices are already
low; that Europe stands ready to buy
when our currency evils are abolished;
that expenses are being largely cur.
tailed and that we have certainly seen
the worst that can happen, there is no
reason, whatever, for anything except
sturdy confidence in the future of good
stocks and bonds. The Chi
cago exposition has proved boon to
many lines, and while this source of in
come will soon be lost, it has neverthe-
less proved a very timely aid in keep
ing up earnings.
Evidence of Improvement.
AS an evi.ence Of the Improvement
in the financial situation the New York
banks have recently retired $4,000, 900
of their clearing house certificates leay-
ing the amount now outstanding
$50, O00,O Out of the $39. OOO, 900
issued, it is creditable 20
Wall street that during the crisis less
than 20 per cent Of the sum was re-
CURED to carry Wall street interests
through, thus showing the solidity of
the financial firms connected with the
great financial center of this country.
The remarkably sound position demon
strated through the trying ordeal of
such long panic period naturally had
a most telling effect in sustaining the
entire nation from more general and
disaster than was produced
by the most severe con attraction of credits
that this country has ever experienced,
every section of it virtually being COM
PEELED to go into a credit liquidation.
The test which the panic has furnished
of the soundness of business affairs
almost everywhere makes the founda-
ton solid one now to build up on, and
it should therefore bring about more
rapid recuperation than after any
previous panic. The financial disturb
ances of 1878 were produced by an ex-
cess of railroad construction. The
new roads and the bankers connected
Herewith as sponsors mostly all came
to grief. The panic of 1884 was caused
by the collapse of several New York
banks and unsound 6nanciering by
numerous firms, whereas the panic of
1898 found the business situation of the
country on q remarkably conservative
basis ~
To Celebrate Christ's Birthday.
BROOKLYN, N. ". Sept. 26.-Rev.
DR.. Talmage, in the course of his SER
mon, urged the celebration of the l9OOth
anniversary of the birth of Christ by 8