New-York tribune., 1896-01-20
result of the idea that prosperity comes from

result Of the idea that prosperity comes from
constant borrowing
At present there is no great scarcity OF loan
able funds in this city, and the rate for call
money is considerably easier than week ago.
The banks have again strengthened their posi-
tions. and are ready to meet any emergency,
while general sentiment is not discouraged 10
an extent where any one believes that general
bankruptcy is ahead. Such an opinion only
comes from warped imagnations. The coun-
try is prospecting, and will continue to prosp-r'
1t has recovered from shocks IN the past wi.I
surprising ease, and its natural strength ana
peoples pluck will enable 1t to do so In the
future. While the outcome OF financing me
Treasury is somewhat obscure, there is no oc,
casion for worry. Many things have pau
effect upon business during the period or
uncertainty and the ultimate outcome or the
present situation may bring more or less . ,rou
BILE to The country but 1t will not pc gTea.
trouble. and it will be capable OF being banlshee
when other men hold the executive onices Oh
the Government. and intelligent men replace 'ne
modern style silver cranks and Popuhs's III
The Senate The most important incidents OF the
week as regards the financial situation were
the slight modification OF the bond circular ar ana f
the dissolution Of the bond syndcate' ooth VI
which were foreshadowed in The Tribune IN the
previous week. The breaking up or TINS weathy
and powerful organization OF capltai was p's
ceded by a statement from Mr.. Morgan IN
The Tribune to the effect that he was bound 10
see the loan succeed, and his words had most
reassuring influence upon sentiment, no. L,s oliS
I'm this country. but in Europe. lf the pupnc
fails to take up the loan Mr.. Morgan ana MS
associates will secure the $lOOOOooo0 asKeu LOT
by the Secretary of the Treasury. Naturihy
the chief interest in the Street has been centred
upon the bond situation. but careful opserVrrs
have not failed TO watch with disgust me
rapidly increasing revenue dencit' whcI'. 10.
the eighteen days of this month. amounts 10
81 2S5 BOG and for the fiscal year 10 Date sZ-.-
eSOOl3. Despite this distressing condition OF al.
fairs, political madmen In the senate ops'ruct
the passage Of an additional revenue measure.
and even if IL were passed there Is no promise
that Executive approval awaits II. Inc fresi-
dent has promised to approve any measure
and
but from his actions in the last month II wouid
seem that he believes a bond issue the ON!
practical measure of relief. and that ne VIII not
countenance the measure passed by the Iower
house of Congress He Is subject 10 suoueh
changes. however. and again ne may suIp,Ise
the country by approving the bill If 1t reaches
him If there were some certainty tnat this
would be the result the dangers of the situation
would be minimized. An increase IN the reVe
nue. is the crying need of the Treasury. anu
the more this is impressed upon the country
the better. ,.
The security markets have reflected the situa-
tion in their almost absolute stagnation No
one Is willing 70 make ventures while uncer-
tainty exists and the bravest of the proiessiohai
traders have restricted their operations, ana as
a rule, have closed their contracts each day
rather than let them run over night, not know
ing what the next day might bring forth. Inc
position of stocks is strong. however iheIe -
nothing in the affairs Of the companies 'nry
represent to induce weakness. and they are
merely waiting The market Is a thoroughly
waiting 1t is waiting for settiement
Of the National financial question, ana ",'n
that has been accomplished 1t is likely that
prices will enjoy bull movement OF large pro
portions In the latter part OF the week lne
bear element depressed prices on various un-
founded rumors. and the selling pressure OF,
Saturday was moderately heavy. AS compared
with week ago. the majority OF stocks are
little changed. Among the active shares the
chief changes were in United States -eather
preferred. which advanced 81. per cent; sugar
Refining which declined 2's per cent; american
Tobacco IA per cent. and Rock Island. l's per
cent Total sales for the week amounted 10
ONLY 3O93 shares. OF which sixteen active
shares contributed 671.Sl9 shares. The an
nouncement OF the call for a meeting or tne
anthracite coal presidents to take steps look
ing toward a readjustment or the anthracite
trade was one of the encouraging features OF
the week Railway bonds were generaly strohs
and the business was much better dlstrlpu,tu
than in stocks. The chief active issues showing
net gains for the week were CHESAPEAKE anu
Ohio consol 5s. Rock Island extension os LOUIS
Vile and Nashville unified As Rio Grande West,
ern frsts, Southern Railway first os anu
Wabash issues. The Atchison and Kansas anu
Texas bonds as a rule, were lower Inc iol-
lowing tables show the most important move
ments IN the stock and bond markets In tno