New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-14

comes known. Already the European papers are
taking more optimistic view Of the political
situation here. and revival OF foreign interest
IN our securities may soon be looked for. West
ern Union, st. Paul. Manhattan Sugar Refin-
ing and other concerns declared dividends last
Week western Union. st. Paul and Sugar Re-
ming earned their dividends numerous other
companies are earning dividends. and hundreds
more will soon be in the dividend paying column.
Ihere Is resourceful field in this country for
foreign capital. and Just as soon as the popular
vote proves the people not a race of cranks and
repudiauonists. the foreign investor will send
his idle capital this way. Local investors will
also be IN the market. and the present movement
Oh capital INTO real estate will. in measure
turn toward the gilt-edgcd securities Offering in
wall street. Mr.. Bryans woful picture of
doWn-trodden poverty and his sulphurous cpl
thets or wall Street are not convincing the vot-
erS OF this country that his way is the right way
and this is why foreign and domestic capitalists
are preparing TO take active interest in the
developing Of the industries of this Nation The
prevailing opinion in financial circles is that
Mr.. Mckinley will be elected by an overwhelm-
ing vote, ana such sentiment is reflected in the
security market which for the last two weeks
mas heeh steadily advancing There has been
no heavy bull speculative movement and fortu-
nately for at such time a heavy speculative
movement is neither beneficial TO the best
interests of the general business community.
There is every reason to feel encouraged and
although trade still rem aims stagnant better
teanng pervades the entire business world
doubtless there viii be miSfOrtunes in business
between now and election. and the bank failures
in New-Orleans reflect the general depression
brought about by the freesilver agitation, but
II is TO be noted that in the majority of current
failures the concerns have been weak and even
rotten, and in some instances good radiance to
the business world.
The present years crops as indicated by the re-
cent Government report, will be satisfactory The
cotton crop is an exception. the condition being
lower than in twenty-seven years but. even so.
ii is likely that the crop will be larger than last
year. as the acreage is considerably greater
Winter and spring wheat together I4.6 per
cent in average condition. against IJ.4 this time
last year. and at this percentage a crop of about
100000. 900 bushels will be raised. The crop
shows the best average, standing at 81. and In
some States the average stands higher than last
year. In the week a number Of excellent railway
earnings were received, and from these ii may be
inferred that the railway situation is improving
and. beside this the order of the court in Angus
ia, Ga. compelling the Southern Freights Asso-
iation and the SeabOard Air Line TO restore rates
recently cut will add TO the bush sentiment
now current in the Street The rate war in the
South by this order is practically ended and for
the present least, the full normal tariff on all
portions of the lines in the jurisdiction OF the
Southern District Of Georgia will be restored
The order OF the court recited the violation OF that
clause Of the Interstate Commerce law which
prohibits discrimination in favor OF one locality
against another. The annual reports OF the W a.
bash and of the St Paul companies for the hsca
year ended June 30. published last week, sho"eu
gratifying contrasts to the two preceding years
the frst-named company showing surplus
above charges of S66,S00 out of which dividend
of | per cent on the debenture bonds, Glass ~ was
declared. leaving to carry forward credit pal
ance Of S31 500 In the two preceding years the
company did not earn its fixed charges The -
PAM companv earned about ~ per cent on the
common stock after the payment OF all expenses
and fixed charges surplus Of -, 4o,39o remain
ing or enough TO pay ~ per cent on both the pre-
ferred and common stocks.
The volur business in stocks and bonds was
small and H. est idea of the weeks movements
in securities may be had from the following usual
weekly tables.