St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-29
Prospects Of Steady Recovery
: More Than Being Full
e ga filled
IN! IN WALL. STREET DEALS.
Henry Clews Exceedingly OPP
timistie in His Weeks
|'sfi Review.
FOREIGN. CAPITAL COMING.
Germany Appears Among the
Buyers Of American
: Stocks.

NEW YORK, April 2S.-Henry
iClews, in his weekly review of the
stock market, says: The past weeks
business in Wall street has more than
maintained the late recovery in ac-
fuvfty, confideI-ce and prices. 1t has
become broader in certain quite i'm
a. portant respects. Investment and
speculation are now extending to the
better class of stocks, which have been
neglected during the earlier move
: ment in second-rate issues. The
grangers are feeling the effects Of the
general improvement in commercial
and agricultural prospects, and the
transactions in that class of stocks
Show considerable increase, with a
pronounced upward tendency in the
prices.
The foreign interest in our invest
ments is steadily assuming increased
importance Somewhat Unexpectedly,
Germany has appeared among the
buyers of the better class of stocks,
and during the week some quite inn
portant purchases on Berlin account
: have been made. This new feature
can hardly be viewed as a merely tenn
porary squirt. 1t has been the re-
3 suit of previous inquiry, and APP
pears to be the outcome of a pur-
pose on the part of the German in
VeStment houses to return at least in
tentative way to their former en-
enlargement to the employment of
capital in the United States. The
great fall in prices of our securities
pending the depression of the last
two years has afforded an excep-
tionally favorable opportunity for
buying, and there can be no doubt
> that the important Endorsement OF
American credit by the Rothschilds,
lin the pending syndicate operations,
has had material influence among
Mt ,rxno,,c
au iA> i1'
in Strengthening confidence in our fut-
Ipre. With characteristic caution they
waited for facts confirmatory of this
frecovery of confidence, and have found
lysuch evidence in the rise in prices of
several of our leading staples, which
they construe as satisfactory proof of
tthe beginning of a return Of COM
mercial activity and of normal con-
1ditions Of business. This change of
,of inquiry by cable and letters by
foreign bankers here, and their re-
plies generally confirm the view ex-
pressed. above. f:ge-r fl'-loY 40 .
seI 1t is reasonable to suppose that this
German movement has also been
encouraged by the increased interest
in our securities shown in London,
which still continues to follow the re-
coyery in prices here without any
attempt at realizing 1t is not easy
to overestimate the real significance
of this return of London and Berlin
to American investments, nor is the
change a matter Of wonder In neither
country is there in process any impor-
tant internal development calling for
new capital, and as to investment in
the colonies and in the raw popula-
tions to which such enormous sums
have been unproductively loaned with
in the last twenty years, they must
have had experience enough of that
kind. Outside their own territorial
limits, these two nations, with their
immense annual savings, can find
nowhere the safety and the
SOLIDITY OF INVESTMENT
that is afforded by the United States.
hoc in fa
vor of a freer commercial policy; we
have reached point of ability for
economical production which in many
departments surpasses their own IN
=dustries; we are bent upon a sound
reconstruction of our currency system;
and when the silver question has been
moved out of the path of confidence,
we may count upon ten years of pros
perity unequaled in our history. The
men who control the course of invest
ment in Great Britain and Germany
are not ignorant of this outlook; and
the probability is that, from this time
forward, they will err not on the side
of distrust of this country, but from
a willingness to lend that may tempt
us into undue borrowing.
The restoration of wages. which Is
gradually going on, is an evidence
of not only an improvement in busi-
ness, but carries with it the faith of
employers that the change is of
substantial and permanent character.
Such testimony comes from many mer-
camille interests, especially cotton and
wooden factories. / can cite no better
corroborative instance than that of
the Washington mills, which during
the depression about year ago
stopped their works, which comprised
machinery a mile in length These
works are now
81 RUNNING NIGHT AND DAY
to keep up with the orders for the
goods they manufacture. 1t is well to
mote in this connection that the goods
f6f this mammoth concern are of the
finest quality of wooden fabrics made
In this country, showing that the pres
' ent demand represents a return to
more extravagant OUTLAWS from a quar-
ter that has been exercising rigid econ
omy for prolonged period. There are
"a larger number of buyers of goods
, now in New York than ever known
before in any previous month of April.
Every section of the country seems to
, be proportionately represented, and
the buying is on quite an increased
scale over what has been witnessed
for many months past. This is the
reason why the jobbers in dry goods,
hardware groceries and in all other
lines of trade feel SO much more jubi-
liant than they have done for over
year. People in trade will soon begin
to realize as of old that success be-
gets success. 1t takes a return of pros
perity, however, to bring it about,
which is now generally felt to be forth