New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-24
Financial Forecast.

49,, r,n n Rockefeller Cornelius Vanderoh'
Albert Fink and other OF the cieaTes' '"''s"' ~
farthest vision gathered Committee OF f'i'' ' ~
special purpose could not locate a new railway ''
This country II is not possible 10 create ne" ''p
line Of railway securities and those investors WHO "
,e, from ernanding prosperity through the men'un' Vi
,,,ss must select from the limited list already
familiar.
. r., Az o,oss,ys wears we have had constant failure
- tho on n, railroad securities Few have improved
- , lar. des,roved and none manufactured Inter-
national panic destroys the hnan''a' anu "
,,, ,,,,o,s uron which new securities must stand
II they stand at ALL The panic tore out the foundation
from many millions railway securities which are no"
holm, scaled IN amour, or aduerated by new unreasonable
Issues which reorganization committees create 10 '"'u'e
,rrs Of previous disaster to invest new money The
presen, cycle has not developed far enous" "
a., basis for such speculative securities. The worlds
weathers unstrung and 1t Will require ohs pe'''
q, strengthening conditions to establish foundations for In
vestment sufficiently decpseated and farreachhs u S'
tain such doubtful values The Monetary Trust mas real
zsd this situation and far taken no interest In
reorganzed properties
4 The gold speculation Of Europe has sad significance
Thousands OF small who had accumulated their
savings through series OF years and who have waited
VAR after wear for opportunity to became
60 vro,sed bv this hunger and opportunity that
they able control themselves when the soia
,r,zv appeared Never did the cramped life of
sens IN such amentabe sounds Of distress this
Kamr ,pecuation 1t has absorbed distorted and de-
stroyed energies OF investors to such TN
extent that large immediate movement OF American rail-
way securities impossible Therefore we eliminate from
our special selections all international shares except al
WAYS 81, Paul which should be bought with courage despite
every conflicting theory.
T. Excluding bankrupt and international shares.
we advise those few securities which
receive the direct Of increasing net earnings Inc
owners OF money bruised and alarmed that
for the time being will rely only upon those securities
which have increasing earnings and show unmstak
able growth This class securities under the leader
shlp OF the four granzers. will record remarkable
advances. The period is still clear IN memory when
failure and panic conditions forced reduction OF their
av,d.nd, We were then in an OF declining values
During 1895 all these roads their DIVIDENDS
and wo are in a period Of advancing values Northwest
will come first then ST. Paul. and then Rock Island and
burlington During 1906 Of these four roads VIII
earn more than per cent upon stock We
S'0''
relative gain in earnings and the largest advance
quotation
g. Gold exports continue. we have expected care'u'
analysis shows that after deductng the amount OF god
produced in this country exports Will about eaua' IN
value our own which buying back from
Europe These securities being bought on very 10"
basis AZ time when increasing values are ine'i'aos
Probably the United made better bargain
than to part with gold such securities Despite the
awkward position OF the States Treasury and the
autering fears Of old maids OF finance. we oei'e'e
that our people will be enriched because the securities
have come and the gold has gone.
The immediate is zero II is humping along on
the uneven bottom OF the down curve OF values
# will have In the nineteenth No serious forces
are depressing IT, Those who have been frightened mo
loss by previous gold shipments now anxious ana the
market is auverng temporary fears but as soon as
a elimmer Of hope from Congressional action j"
regard to the position United States Treasury the
market will begin its upward movement