The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-11-14
HAVEN & SHOUTS WEEKLY MAR
kET LETTER.

The Financial Outlook.-The devel-
OpmentS OF tine past week have done
much to- decrease danger to the market
from the factors that have influenced 1t
for some two months past. Spa:n's at
titude towards the United States seems
at utter variance with the theory that
there is any likelihood of rupture be-
tween the two countries over Cuba. The
Supreme Court of the United States has
moi decided the Nebraska minimum
freight rate case, but il has gwen an
opinion i'll another matter relating to
the Interstate law, which will greatly
facilitate the maintainance of paying
rates. Another favorable influence is
the gradual disappearance of yellow
fever at the South, and the raising of
quarantine there. 1t might also he men,
toned that the Appellate Court of New
York has given further discoura cement
to attacks on corporations under the
antitrust law passed last winter. even
if it did not decide. as was at first sup
posed. that the mischievous measure in
question is unconstitutional.
All of this not only puts the fear of
unfavorable developments in the back
ground. but brings the generally good
condition of the country, its business
interests and its railroads into increas-
ing prominence as speculative factors.
While the market has been irregular
and subject to professional attacks. it
| is noticeable that stocks are wanted on
declines, and have to n very large eX-
tent been passing into strong hands.
Railroad earnings continue to make a
very good impression. According to all
indications. the October returns of the
granger companies VIII be fully up to
those OF September, and the statement
comes from variety OF sources that
November earnings are beyond eXpec-
tations. These conditions apply par
ticuI. fly to Burlington and Rock Island.
The former roads dividend for the
quarter will be declared next week. 1t
is given ont that it will not be increased
this quarter. but il Burington's earn
ings are maintained on the recent scale,
the question of an increase will neces-
sarily press itself upon the management.
Sugar has been weak feature.
Liquidation has certainly been going
on in the stock since it left no. and the
belief is that interests which hulled it
when above that figure are now bear
ing it. 1t must not be forgotten that the
new refineries are now nearly completed
and that fight in the trade is prohi-
bile. Until this conflict is decided the
Sugar interests can scarcely be expect
ed to support the stock.
Chicago Gas seems to be out OF its
troubles. and the interests which control
it have everything their own way. What
is required now is n favorable condition
OF the market. which would enable
them to inaugurate a bull movement.
The anthracite coal presidents. as al
ready mentioned. scored point against
the Lexow antitrust law. This. how
ever. Is Of less Importance than the com
ference they are stated to have recently
held to improve the trade. If il i1-
l:eved that restriction Of production
has been agreed on. hut cold weather
is the factor now needed 10y the trade
aud by the anthracite stocks also.
Grain AMI Provisi0ns.-The wheat
market hn> been cratic. and NJ times
heavy. Export Lnyinc continues 70 I've
exceedingly large. Though large r"-'ipfs
were reported from the Northwest,