The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-06-18
Financial REVIEW
tho gaalnosa Outlook
LONDON BUYING OUR SECURITIES
Moro Freely on tho strength of an
Early scttlcment OF 1.-THE Coal strike.
Tho Prospects OF a Widespread.
War IL EUROPE q Drawbacks TO IN.
ycstments.
.tetal corepeaalnea b ~ n%leliat,er.

opeetd4 tuFHp potuenfc pf nc NueHtqt1er'
Nrw YoRK, June 16,-In our alyices
Of last wook We called attention TO Ger.
tain symptoms that London was likely
to soon show an Increased interest In
our securities. Our forecast has boon
confirmed BY the coursesoi the market
during tho past week. England had
oyer.ostlmated tho gravity Of our coal
satrlko, aud on that account, rs we'll as
for other pesslmlstio forebodlngs, Lon.
don had sold certain Of our stocks quite
freely aud became Short on them.
That market is now taken by surprise
ut the greater facility with which We cot
Ito these disturbances than do THO Brit
ish coal barons, and the prospect OF an
carly end Of tho trouble has this week
led TO q considerable buying in behalf
Of London, the stocks principallyin dc.
inand having been ST. Paul, Reading,
AtChison & Topeka and Louisyille &
Nashville. Tho purely monetary condi.
tionB ut that contre arc exceptionally
favorable to speculative operations.
With money at per cent on call and l
per cent on three month"; billp in the
open market and with gold still piling
up hugely III tho Bank Of England-a
condition OF things exists which cannot
but compel either inyestmentiu legitl.
mate securities or resort to the creation
OF some sort Of speculative enterpriseS.
The ercatdrawback to Investment has
been the growing feeling Of a%pprehen-
sion excited by tho political tonslon at
tendant on the exhaustive military ex-
penditures Of the European powers and
the consequent dangers OF o preciplta-
ton Of widespread war. Those fears
have lately been mitigated by the
friendly relatlona Unexpectedly e.tab-
lished between Germany aud Russia.
In the higher political and financial cir
clcs, 1t is limited that efforts are now be-
ing made to push these pacific achieve
ments to a still further advantage. There
Is reason to bclive that two OF the lead.
ing powers, bost calculated 10 broach
the suggestion without exciting jeal-
ouaies, are considering q proposal, to be
submitted 10 tho European powers,
with a view to staying any further in-
crease OF military and naval cxpendi-
lures for aiterm Of years; pending which
tentative experiment, it is hoped that q
way may be found for o general reduc-
ton OF armaments and the abatement Of
tho international ~iealousles which have
given rise to the present destructive
condition OF armed peace. Certainly.
tho reasons for such q policy could not
be more urgent or desperate; dnd If all
be true that is whispered as to the
states and the statesmen who are UNDER
stood to favor thia proposal, there is rea.
son to hope that IL may como to some
promising issue.
The almost unprecedented dangers at
tending the present military situation
Of Europe surgests such imperative rea-
soma fora halt in the downward rush to
destruction that it would seem almost
inevitable that such an appeal must be
needed. In such event, The suspense
that now holds European enterprise in
paralysis would give place to uniyer.
sal revival Of confidence, and the idle
wealth OF Europe would come out OF its
hoards and contribute to q universal re-
vival Of productive and constructive
operations. II is surely impossible that
the outcome OF the civilization Of these
times can. bring forth nothing botter
than political madness and suicide;
We may therefore hope that this gloom
OF the European outlook is but tho pre-
lude.of q great saving effort to conserve
and perpetuate the vast modern pro-
gress OF the nations. These. are matters
that deeply underlie the present situa-
ton OF financial affairs and the pros
pecta Of every form OF Investment in
the early future
Whatever teuda to the revival OF con-
idence and enterprise in Europe is of
vital importance to progress on this
side the Atlantic. We are rapidly
drifting towards q greater solidarity Of
interests between this country and tho
Old World. We arc destined to Q
broader commingling with the worlds
markets; and il 10 on the Now Cont
nent that the Old must find the most
profitable employment for It's accumula-
ting wealth. Remotely, therefore. as
these foreign factors may, at first sight,
seem to bear upon the Investment in
terests of the United States and on tho
financial force, centering In this mar
ket, 1t is more than possible that, be-
foro the present year closes. wo may
find that tho @ assurances Of Euro
pean peace contribute a valuable stimu-
lus to revival throughout this country.
HENRY CLEwS