New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-23
vENEZUELA AND STOCKS.
.,,r TINES" DISPATCH BEARS AMERI-
CAN SECURITIES
80. swAILEYs INFORMATION is REGARDED AS
rrr1ER FROM THE CLEVELAND AD-
OBSERVATION-DISCLOSURES ANXIETY
FOR INVESTMENTS
fly CABLE TO THE TRIBUNE.l

fBY CABLE TO THE TRIBUNE.]
c.,,,,oh, 1896: BY The Tribune Associansn
london. April 22.-Mr. George w. Smalleys
lang and dis1uietng dispatch on the venezuela
..sotiatons ir to-day's Times" was felt at
orce on the Stock Exchange, where American
.scurites Of all kinds fell off several points
.rbe Times" in leader tried 70 break the force
,,,ts correspondents argument that 1t Is an iilu-
.,on 10 suppose thai the Venezuela question
,os passed out of the dangerous stage but the
,,ockbrokers have perceived almost as readily
.s the Editor of The st. James's Gazette that
,,r smalley. in this instance. as he was not
Tvs ago Is obviously inspired by the State De-
,ortment at Washington when he warns Eng
,.,d IN be prepared for report from the Ameri-
o.r Commission hostile to the British claim.
As THE Gazette" explains the matter,
Mr. smarey is put forward again to renew
N. semi-ofIicial attempts to work up English
tssung In favor of a surrender on the part of
Great Britain since he is recognized here as the
,r.trument used by President Cleveland and
secretary Oiney for appealing to English public
on,non. His reference TO the danger which may
e,,ss from the report of the Commission is re-
norded by some writers as revival of the men,
~. contained in Mr. Clevelands December mes
...s The hands art the hands of Esau. but the
voice is the voice OF Jacob.
rhs renewal of public discussion Of a subject
-rhich had ceased to attract attention is un-
,ortunate slnce American securities were barely
h.gisning to react from the depression which
to,,owsd Mr. Cleveland's Venezuela message.
ror three months there hardly any in
ouiry for American stocks, but since the open
ing of April there has been an improved mar
tet for them The principal member Of one Of
the leading houses dealing in American stocks
toM me- this morning that English investors
had begun to take American railway bonds.
and he had made several important sales DUR
ing the last fortnight Consols are now so
high that holders of them are anxious to sell
ont and renvest in stocks which Will yield
hetter returns Investments are not easily
found: all the English stocks high and with
the disturbed conditi. of South Africa there is
M market for mining stocks. South American
securities are taken moderately. but are not at
tractiye lines Of Investment. American stocks
have been brought jorward and there has been
an increasing disposition of late to deal In
them especially as IT can be shown that Eng
Nsh investors can more than double their in
come from selling consols and reinvesting in
certain lines Of American railway securities
In consequence OF this improved demand GER
tain American stocks have recently advanced
considerably In the London market. With i'm
mense masses Of money idle here and no neid
for investment at present in South Africa, there
would be, according to my informant previously
quoted a great boom in American stocks II the
Venezuela question were out OF the way ana
the currency problem were solved l. ~ F.