The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-18
BANKER oLEws' VIEWS.
The Financial Outlook as Seen From
Wall Street,


New York, June 16-In our advices of
last week, we called attention to certain
symptoms that London was likely to soon
show an increased interest in our securi-
ties. Our forecast has been confirmed by
the course of the market during the past
week. England had over-estimated the
gravity of our coal strike, and on that &C
count as well as for other pessimistic
forebodings, London had sold certain of
our stocks quite freely and became
short" on them. That market is now
taken by surprise at the greater facility
with which we settle these disturbances
than do the British coal barons, and the
prospect of an early end of the trouble
has, this week led to a consider
able buying in behalf of London, the
stocks principally in demand having been
st. Paul, Reading, Atchinson and Topeka
and Louisville and Nashville. The
purely monetary conditions at that center
are exceptionally favorable to speculative
operations. With money at Is per cent. on
call and % per cent. on three months
bills in the open market, and with gold
still plling up hugely in the Bank of Eng
land--a condition of things exists which
cannot but compel either inves tment in
legitimate securities or resort to the Gre
alton of some sort of speculative enter
pEiStS. Lie. SEedJ uEdWOGC TO invest
ment has been the growing feeling of APP
prehension excited by the political ten
sion attendant on the exhaustive mill
tary expenditures of the Euro
pean Cpowers and the consequent
dangers of a precipitation Of widespread
war. Those fears have lately been miti-
gated by the friendly relations unex-
pectedly established between Germany
and Russia. In the higher political and
financial CIRCLES IL ia hinfa6 fIat aff
are now being made to push those pacific
achievements TO a still further advant-
age. There is reason to believe that two
of the leading powers. best calculated to
breach the suggestion without exciting
jealousies, are considering a proposal, to
be submitted TO the European powers,
with view to staying any further in
crease of military and naval expenditures
for a term of years; pending which tenta-
tiTe experiment, it is hoped that way be
found fora general reduction of ornaments
and the abatement of the international
lealousies which have given rise to the
present destructive condition of armed
peace. Certainly, the reasons for such a
policy could not be more urgent or desper-
ate; and if all be true that is whispered
as TO the states and the statesmen who
are understood TO favor this proposal
there is reason to hope that IL NAV come
TO some promising issue. The almost IN
preeedcnted dangers attending the pres
ent military situation Of Europe suggests
such Imperative reasons for a 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 a universal
revival of confidence, and the idle wealth
OF Europe would come out Of its boards
and contribute 10 universal revival Of
productive and constructive operations.
II Is surely impossible that the outcome