The Republican. [volume] (Oakland, Md.) 1877-current, 1897-02-25
BENZ. II. SINCELL.
Review of the Week.

New YORK, Feb. 20.-In the invest
ment and speculative departments of
Wall street there have been no i'm
portant changes during the past week
The prepOnderant feeling seems to
have favored selling, partly because
operators had become tired of the
dead level in prices which had pre-
vailed, and partly because the condi-
ton of the foreign markets were cal
culated to produce some unsettlement
of feeling on this side of the Atlantic.
The result of these conditions has
been fall of 1W2 per cent. in prices
during the week.
The difficulties between Greece and
Turkey and their possible bearings
upon the disturbed relations between
the leading powers and Turkey have
brought European politics so near
the possibility of a very grave crises
that confidence has been seriously
shaken on the European bOurses, the
prices of state issues having generally
declined and those of other descrip-
lions still more seriously in sympathy
Under these circumstances Wall street
has been apprehensive lest there
should be foreign selling of our secu-
rites. So far, however, no movement
of that kind has been apparent, but
there has been a suspension of the
buying that set III previous to the Oc-
currence of these political troubles.
Fortunately, there is reason to hope
that these European dangers have
passed their elimination. The lead
ing powers have unanimously agreed
upon joint intervention, which will
restrain Greece from deranging hos
tile action and lead to a prevention
of hostile relations between that coun-
try and Turkey. This outbreak may,
however, delay the reforms which the
great powers have resolved to enforce
upon Turkey; and that will in some
measure tend to prolong suspense in
the European markets. For the i'm
mediate future, therefore, New York
may hardly hope for much reinforce
ment from the foreign markets.
Domestic conditions retain the
symptoms of recovery which | lately
noted as having set in; and there can
now be no question that the general
business of the country is at last
steadily drifting into a healthy ac-
.tivity. The tonnage returns Of the
railroads, eastward and westward,
show a very satisfactory increase; and
the same tendency appears in current
reports of railroad earnings, which
contrast favorabIy with those of Jan
uary. With trifling exceptions, rates
of freight are stable, which, together
with the extremely low prices of rail
road supplies, should be favorable to
the net earnings.
The merchandise markets show
very marked improvement. The com
mercial hotels are full of buyers from
all sections of the country, and it is
doubtful if the interior trade was
ever before so fully represented in
this city. Within the last nine days,
no less than thirteen hundred dry
goods buyers arrived here. The
wooden goods trade shows a distinct
recovery, and mills that have been
closed for months are resuming work.
A similar recovery is apparent in
nearly all other kinds of merchandise.
The interior buyers are discriminate
ing and careful, but the aggregate of
their purchases is making a satisfac-
tory impression upon stocks OF goods.
There are nowhere any indications of
a speculative demand for merchan-
disc, but fair, conservative business
is realized in the trades generally, and
prices are steady.
The breaking up of the steel rail
association has resulted in sales vari-
ously estimated at from 100000 to
10000 tons, the price having settled