The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-15
SOME SIGNS OF THETIMES
WALL STREET ON TiPTOE AWAIT
ING A BUSINESS REVIVAL.
Predictions Of IN Imminent Renewsi o.
Activity outside Of the street ana
Therefore In the street.

IL Is the barometer OF business. FREEZER
lex r. Brown. OF III. l.. Horton & Co..
said yesterday:
"in my opinion everything points 10
better times and more speculative acuop
throughout the world. In the autumn Oh
1880. on November 18th, came the iahui~
of the Barings. II was disaster SUI"
as Europo had never known, ana 10 -,
feet has not as yet passed away, 'noue"
the Barring debt has been whohy ~
dated without loss TO the creditors Oh .ne
syndicate in the Bank OF bhsidhu t"
took IL over. Since the maj payhient ~
The bank the speculative securities deall
In on the London Exchange have very
much improved In price aid demahu,
and a new speculation has been awakehei
I'm gold mines, which mas eAtehdcu ~
Paris. Brussels. Berlin, Frankfort anu
Vienna. until the largest business IN
years Is now In progress in these eltieS
The United States was only temporarily
affected by the panic Of 1890. Early IN
1S,l merchandise and stocks began to
Improve I'm price, and by July the whole
country was in very prosperous condi-
ton. Eighteen hundred and ninety-t"o
showed "A condition largely better IMAM
that Of 1891 the internal business OF the
country amounting 10 forty-hVe Thousand
millions against forty-two thousand NIL
lions I'm 1891. On the LIST of November the
entire labor OF the country was employer
at tho highest wages ever paid. The IN
weston received good returns on his
money; the manufa tuTer was pressed
for goods. there was not strike OF any
kind i'm sight in any part Of the country.
Even after the election, Whlch chdhsct
the party I'm power there was niue
shrinkage of values, and the demand IoT
merchandise kept up 10 the LIST or Aiatch'
Al that time print cloths, which are
almost the barometer OF cotton values
sold at four cents per yard, ana me
Financial Chronicle Of March 4th, IN us
review of the market, said:
"'Thcre is still the same diihculty as
before In obtaining supplies of goods Iof
immediate delivery. and buyers reddlly
absorb all merchandise coming mo VIEW
ION the 9th Of May, two months only
gone, the same authority saws:
'The whole trade is heartily glad 10
have done with the month OF Aprh, VITA
its deepening disappointment
print cloths that we're almost unob-
tainable in March at four cents were
offered at three and one-eighth cents
without takers, and in that two months
the panic began that has gone on Tor
two years.
I'm the stock market the change was
more marked even than in the merchan-
disc market February found TIE STOCK
Exchange doing the largest business In
years, with many stocks at tne best
prices since 1889, all anticipating large
returns for abe railroads through the
passenger business to Chicago. May
brought a decline in the investment
stocks of twenty TO fifty per cent. Pull
man stock, that was sure to reap great
benefits. and did make enormous earn
ings from the Fair fell from 206 to 132;
Western Union Telegraph from 10l 10 81;
Sugar, common, that has paid its divi-
dends regularly to this day, fell from 13i
10 60 New York, New Haven and Hart
ford from 262 to 1888; Michigan Central
from los to so. In the speculative list
the declines were more serious still.
Louisville and Nashville fell from a
TO 80, Cordage from IS to 7, Atchison from
IS 70 10, Canadian Pacific from 80 10 6j.
Distillers from go TO II, and Lead from
81 to Is.
"New England was the first to suffer.
Nss-n, IA -.c..s .ne first 10 snow Signs or
recuperation and this very recuperation
leads me TO believe that we are at the
end of our depression Labor is almost
fully employed from Maine To the 1ud-
son, and the railroads i'm that section are
all showing Increases in their gross re-
cepts and larger proportionate increases
i'm their net receipts by reason of the
lower cost of administration What the
country wants, what the merchant "
market wants. and what the stock mar
ket wants, is TO be relieved of the pres
ent Congress. No thinking man antici-
pates any serious happenings between
this and the 4th Of March, but everybody
would feel easier If they could see the
last Of the Fifty-third Congress. Our
troubles came with the incoming of this
no will
begin to go with its outgoing.
THE conditions of the markets of the
world are most favorable for advances.
Never IN this century has merchandise
been so cheap as 1t is to-day; hardly any
that is not selling in the raw state at a
price much below the cost OF production.
Sugar, raw, under 8 cents per pound;
hemp, Manila, 41-2 cents per pound;
tea, fine - cents per pound; cotton, ~
cents per pound; iron, pig, $40 per ton;
lead, BIS cents per pound; WOOL 10 cents
for y Ohio; copper. 10 cents per pound,
wheat, IS cents per bushel; corn, ~ cents
per bushel. Stocks are pheEomenaily low
and really scarce in the lean markets or
the exchanges. For the past two months
the business OF the exchanges has been
little more than a swapping OF contracts
between the room traders which mas
brought almost no stocks out of the boxes
of real holders. In a word, any active ana
sustained demand for either merchandise
or stocks would find the market pracu-
cally clear"
do you think that the placing of the
loan last week at three and IRREGULAR
ters per cent. Will establish hlSher rates
OF interest for investors"
mo; l look on this transaction as an
unfortunate episode in the history or
politics, forced on us by this very Con-
gress, that has in other ways done all
that IL could to disrupt business ana the
finances. With it dissolved. and the ftfty-
fourth Congress in power, l believe that
one of the first acts of the new House
will be the declaration that coin means
and always mas meant gold com, ana
that under that declaration the bonus VII
advance to a premium both here ana IL
Europe. that will re-establish our creoll
SO that two and one-half per cent. VIII
he the utmost that our bonds VIII pay te
the investor. -
s.Do YOU think that with an advance
I'm the markets here money VIII continue
at low rates for loans!
mo: not as low as now; Dut u WI
take some time to get our great oNerpluS
of money into active use enough TO III
crease the rate materially, for you mus
he aware of the fact that the ordihaths
active money OF Europe IL now paeslv'
in the great cities. only waiting ihVesu
-, ard for a chance to spread ltsel
throughout the worid.-New YORK sun.
Insurance Companies to Combine.
NEW YORK, Feb. H.-Withm the mex