The herald., 1895-06-20
LOCAL FIELD OF COMMERCE
Conditions of the Stock Market
for the Past Week
CI.EWS' FINANCIAL REVIEW
The Loan Syndicate and the Treasury
Gold Reserve
Prospects of international BimetaIIsm Dimin.
Ishing, aud a SAFE Settlement OF the
Financial Question Promised

Henry Clews' weekly Financial Review
says that during the first half of the
part week, the market for securities
showed the tendency towards rest and
realizing that was apparent the week
previous. On Wednesday, however, the
publication of the government monthly
crop repor6 showed better condition of
the cereal crops than had been expected,
and encouraged a revival OF buying, with
some improvements in prices.
In some quarters there is little So
licitude as to how far the loan syndicate
may be depended upon to protect the
treasury against liability TO export drains
Of gold after the winding up OF the loan
contract of last February. There are no
open assurances upon this point but
the feeling is al most universal that
the syndicate will not retire from It's reg
ulation of the foreign exchanges until
an understanding has been reached, as
between the treasury and the large local
holders of gold. that will protect the gov
eminent against it's former exposure to
drain, but it is generally regarded as an
entirely safe assumption that all needful
precautions against return OF invaslols
upon the treasury gold reserve will be
adequately provided for. rsaThisi being
assured there remains no cloud in the
financial horizon to suggest mlsglv-
ing.
There has been considerable number
of conservative men who have favored
the unrestricted coinage Of silver pro
vided it could be done upon basis that
would insure the full cooperation OF all
the leading nations, including especially
England and Germany. The British
chancellor of the exchequer has en-
phaticaly affirmed that the present Lib
eral government would under no circun-
stances, make any departure from Eng
lands established policy of the single gold
standard. AS to Germany, that govern
ment has promised its bimetallist sub
jects that it would make proposals to
England for an international conference
provided all the states of the empire
should approve Of such course. AL
ready the replies from the states show a
general disfavor Of bimetallism, which
precludes the imperial government
against taking any steps towards mon
etary change. Thus it would seem the
prospects favorable to International BIZ
metallism have become materially dimlh-
ished. This important change in the sit
uaton is directly calculated to secure the
adhesion of our internationallsts to the
gold standard, which is a large gain
towards a safe settlement of this trouble
some question.
II. w. Durham, local manager for r
u. Dun " Co.. FURNISHES inc following
report OF business conditions for the past
week:
Our reports of trade conditions all over
che country have not been as uniformly
good for q long time, and all doubts re-
garding improved conditions are being
set at rest
Manufacturing is increasing and wages
in many lines advanced. The clearing
houses show material gains throughout
the country, but few show larger or more
significant increase than our local insti-
tuition, with 49, per cent gain last week
over the corresponding week in 1894. This
is particularly significant because OF the
complete absence of speculation in this
quarter indicating as it does healthful
and legitimate growth in money trans
actions.
Business in all retail lines remainss sat
isfactory, most showing q gain over same
half month last year. A good deal of
money is being spent in new street rail
loads and Improvements on old lines.
These help to circulate money in the best
growing more plentiful all the time.
Los Angeles is attracting men of solid
judgment and capital and new houses are
being opened. The latest addition to our
many mercantile HOUSES, of which we can
be Justly proud. is the finest mantel
house west of Chicago, just opened by
the Tuttle Mercantile company.
The jobbing trade OF the city continues
good, and country orders are larger in
volume and collections all the tine i'm
proving. The pest evidence of increasing
eighteen days of the month there have
been but five failures in our district.
with liabilities CT $4,000 and nominal
assets of $4,000.