The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-02-12
FINANCIAL REVIEW.
Horny Clovis Weekly Lottcr on
tho Business Outlook.
LITTLE CHANGE ON WALL STREET
From tho LatO Dullncss-G0od Eject
OF tho Government Lonn-Furthcr
borrowing May DO ScCcssary-BusI-
ness Shows Evidence of Slow In
ut-MnnufnCturcrs Waiting
for Final Action Oh tho Tariff
speeinI correspou.l.nce otMc ln,.,ltn,nc.,

New YoRK, Fob. 1O.-Dprin, ,ho mat
uooL vii 49,. - '''0 p"''
"' "'''o' mas SHOWN i'tt'o
ch"hEo from mo lato dullpess coupled
with stcadincss OF prices, Almost the
only stocks that hovo vhow, nn,. ,o,i,.
;,v oro ,ho i,Jr.,,ioI. wL III ~
''0 ''''"s'''"'S' A"oy arc t"e
only ones that have directly sympa-
thi2Gd with tho passage OF tho tariff bill
in tho housc nj rnrrogo,,,,;,o, 0,l
souowLo, .i,a,,..l.. A.. 49,
''''.0" ''.' ''"E""'l'E' 'he changes IN
thelr NaIno have been upward; that,
however, may DO duo to their having
been oyorsold in advonro NJ ,ho oc,ion
,fu,o l,o,, Wv ''1''0'
VI wv ''o"S''
mo competition OF tho government
!oah h2a produced a moro settled feel
ing; althonSh owing to tho political
oPposltioh 10 tho negotiation tomented
III washington, the operation was rob-
oeu oil mo cclut oil largo surplus OF
oiiets ana hlgh premiums, yet it IS on
nll siuca regarded as having had most
oenehclal oiiect. 1t settles many har-
RAISING doubts connected with possible
oDlectlonaoIe ways oil getting the
money! tho introduction oil the silver
question into the operation has been
oovlated the coin reserve Of tho treas.
uFy mas OcGn restored to about its for
iner strength, aud the working balance
Of tho government has been increased.
Az douots overhnnGInE tho finances OF
government always have widely dis.
tnrDihE effect, tho settlement OF the
mIsglvlngs III tins case is matter OF
much conEratuIatlon. Moreover, 1t is
boon to the banks that 80 large an
amount OIL lhelr unWic!dy cash balances
mas been transferred to where the
money properly belongs. The result is
moro normal distribution OF tho cur
Fehcy; anu tho period is brought so
much nearer when the banks may hope
Tor moderate rate OF interest on their
loans. Iosome extent, opinion inclncs
10 tho expectation that the secretary OF
the treasury may have to borrow still
iurther amount to make up for his
deficiencies OF revenue; but Mr.. Carlisle
appears to entertain little doubt that
lie can meet all the requirements OF the
current fiscal year without trenchng
on h!s gold reserve; the latter hope,
however, may depend very much upon
whether any important amount Of gold
10 exported during the interval, for in
that case the banks would BIO likely TO
exchange legal tenders for gold.
1t is the habit OF Wall street to shrink
from any prospect OF gold exports. It
cannot be said that such Il movement is
now within sight, although there is now
M exceptionally light supply OF cxport
bills, but worse contingency than an
export OF ten to fifteen millions OF the
yellow metal might huppcn.- the
one hand, it would relieve the banks of
their inordinatc glut OF money; on tho
other, it would cheaper money in Lon
don and on the continent, and thereby
induce activity on tho bourses. with the
possibility OF causing demand for
American securities. which is the kind
OF stimulus Wall street is now thirsting
Tor. There arc welcome symptoms OF
revival oil British trade-wclCome be-
cause recovery there would help recov.
cry here. England's imports for Janu-
ny show an increase. over those OF
year previous amounting 10 $3.50, 900,
or at the rate OF lG per cent; ana
although the exports oil home produce
how gain OF only Gl50,0OO, vet the
Urge gaia in imports implies that an
Improvement III the export markets. is
anticipated. This is the first hopeful
,ymptom that England has exhibited
Tor long time, virtually since tho Bar
ing troubles. and it is suggestive OF tho
beginnings oil 4 turn in tho universal
depression OF trade.
In this country, business still shows
evidences OF 4 slow improvement
There is some abatement OF the resump.
ton OF work by long idle factories and
iron works; but that is not remarkable
after such marked renewal of pro.
ductlon rs occurred last month. Tho
depression romans greatest in the
Western, Middle and Eastern states,
while in the far west, southwest and
south, 1t is much milder. From the
latter sections there is lair aggregate
demand Tor goods, though it comes in
thin continuous stream rather than in
active bounds, and therefore makes lit.
tie show. Taking the trade of january
rs whole, however, it shows fair i'm
provement, both in tone and volume, OH
that Of the previous six months. Tho
manufacturers are waiting Tor tho final
action on the tariff. From such indicn.
tons as the senute affords, it seems
likely tina. no serious obstruction will
arise to the passage OF tho bill in Il mod.
fled form, and month or weeks
may possibly find it on tho statute
book. Before that tinalitv, however.
the duties on wide range OF articles
will be regarded rs so far certain rs to
admit OF giving orders for them, and in
that way steady increase OF business
may be expected.
Although the silver storm exhausted