New-York tribune., 1897-01-11
ia. 80 IS O4s oo3 ss aO4 o5G Inc. ss56O33 lot
THE WEEK IN WALL STREET.

The course Of prices in the security market
last week gave some evidence that a better ap-
probation of the outlook for improvement in
the business situation was obtaining among in
vestors and Spectators in stocks. 1t requires
careful and skilful treatment 10 restore sick
country 10 health. and it needs on the part OF
the doctors and watchers great confidence and
patience. and DrOad-minded. cheerful and opu-
rnistic sentiment by all who would see the pa
tent again enjoying the blessings of health
and prosperity. Medicine adequate TO cure the
cOuntrys ills given in November, but the
benefcent effects Of the treatment have to he
developed by long. patient and intelligent nurs-
ing and while the gradual restoration of health
is being accomplished the watchers should not
allow themselves to be overpOwered and de-
pressed by their mpatience and petulant and
peevish sentiments. Intelligent judgment Of
underlying conditions now appears more pro-
nOunced. The fear inspired by the nre-eating
resolutions introduced by Senator Cameron
seems to be falling into nothing more than an un-
peasant memory, ana thc financial community
and business circles in general are exhibiting
courage and bravery. and taking less notice Of
tne windy legislators in Washington The
resolution on Cuban independence introduced by
senator Mills in the week and his announce
inent that he would speak upon it, was scarcely
noticed in Wall Street. except. perhaps among
The bear contingent. which unsuccessfully tried
10 dspress security prices. Nightmares the re-
suits Of OVerhcated and overWorked imagina-
uons, are soon forgotten and II IS now growing
evident that the country has decided to give less
attention 10 the delusions in the halls Of legisa
uon. Tor II doubtless feels convinced that Con-
sress Is a chronic sufferer from the nightmare
especially as regards the country's duty in the
Spanish-Cuban war. and that nothing is to be
reared from visionary resolutions.
"aH Street enjoyed an enl9rging security
market IN the week, an inquiry from outside
SSuyers making its appearance. and the general
oeNelopmerts in the business and financial situ
auon being construed favorably 10 higher
pnces An important factor was more con-
.oeht feeling oyer the Western bank situation.
.iie causes leading up 10 recent failures being
realized a insight n
we actual strength Of the financial situation
u"Vushout the country prevailing. The closing
" 80 many Western banks has been a faVora BILE
s,ss,e!opment for the upbuidng of business ac-
,"y Cnsound AMI rotten concerns best
st oi The way in times OF business resumption:
EN- u IN the West where so many concerns have
,s.~h'y gone under the belief is general that
Ie troubles have resulted in a house leaning
80 y. 70 speak. and that all business in that par,
a.. D. 'ne country will be the safer and sounder
~ the purglnR. There Is now over S12.WtD.Opi
.se e IN circulation than at this time last year
nv. M the heavy January disbursements hav
raS money more abundant and easy 10 get, d
,.ecuon Of this being noted in a broader com
,hercial paper market and freer offerings by
sw s banks and other money institutions. The
\. ~ OF so much availa BILE money must soon
~. pronounced in industrial activity. The fact
t"ot the commercial interests Of this country
IL spoken In no undecided tone regarding
peI!icose spirit in Congress. with other
n t%h @ favorable factors in the situation. point
~ on industrial revival Of large proportions for
current year. Bank cleafings made a com
waoe va increase last week over the preceding
ssnn' ana though slightly under those for the
Ia, week last year. were larger than for the
b.. .ifne In ls9o and 1894 Railroad earnings re
iss,ing 10 improve. foreign exports continue
A ~ IN excess OF imports wheat continues al
A. n paice ieyel; the TreasuIy's gold reserve
sboa q. nearly Sl4OoO0O0O and bank holdings
In ma marked @ gains in all particulars.
cr.ae me last week associated bank holdings in
tlS019 sno un deposits Si7.233,2oo cash increased
f0a snnov' ana surplus reserve increased SIG
dvide', 'ne result Of the January interest and
.mova,n mu disbursements and OF considerable
eensr, ~ or money from the interior The
dsTass,.., financial situation showed ease and Il
Will ,h Dy the banks to put out their funds
ers y, e easy rates for money Influenced hold
prespao,. maturing long sterling TO renvest. the
also - OF return 10 high rates in London
readv ing ing FACTOR in these operations Al
ing ,arSo rSees IN London have shown an advanc-
the yauehcy from the decline at the first G..
loan year. ear and the report that n new Russian
Paris ~ =. Sioo0O0O0O is bang negotiated in
encourages the belief of a continuance