The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-04-30
EXPORT TRADE
REMAINS ACTIVE
Prospects OF General Business Of the
Country Steadily improving.
REVIEW OF THE EASTERN WAR
Compact Of the roNers. According 10 nenry
cleNs. Stronger Than Ever to Main
tain the rsaee Of Europe
REVIEW OF THE EASTERN WAR

Nov York, April 2.--wall street has
shown decided recovery ~ tone dur
Ing the past week. The bears" have
exhibited considerable alncrity IN cover
Ing their sales London. after selling
Americans last Saturday and Monday.
has since b.--n an equally free buyer,
and both here and abroad the specula.
tive atmosphere has cleared up. with
the promise Of brighter financial wealth
er and smoother sailing.
After some months of timld scanning
Of the EASTERN question. London. Paris
and Berlin and equally New York seem
o. have nnm" 10 simultaneous con.
cluSion that while u has some conceiv.
ably very grave possibilities. yet the
probabilities prepondcrate ~ largely in
favor of the war being localized 10
| Turkey and Gr,s-cc that there IL no
sufficient reason why the financial mar
kets of the world should b. held In
chrnnic restraint by these conditions.
The Powers have foreseen the contln-
gcncy which at last has happened.
They have prepared Tor the situation
now existing by mutual undertaking.
and when the cambasants have exhaust
e1 themselves they will fall as the pot.
tcr's clAy into stronger hands. tn be
easily nodded into such rcadjus,ments
as the Powers may think most condu-
Give 10 international peace. Il thus
turns uut that affairs have drlfted into
u course which clears the way for the
enssos; settlement 10 these complicated
and dangerous arrangements. when
that nnal adjustment comes. Il may
bring some very valuable political ad-
vantnges Pending thrIr discussi n,
N" Powers have had 20 show their
hands o. zach other quite plainly
There has becn an indirect revelation Of
state policies. and the different govern
mrnts now understand each others at
tltudcs on questions which have long
kept them Jealous OF each others I
policies and ambitions
out of all this viii come some CON |
siderable establishment of mutual
confidence between the Powers Pre-
ceden,s have been established for future
guidance at the most sensitive point In
European politics, which will tend to !
facilitate future action in this always |
unsettled question. And,-which is
still more Important the supposed de.
funct earlier concert OF the powers has |
been invested with now life and has
shown itself capable OF maintaining a |
harmonious cooperation for the main
tenance OF the peace OF Europe. Lord /
Salisbury comprehended the practical
Importance Of this peace protecting I
combination when he called 1t the
Federation OF Europe for such It vir
tually is;--a union for the protection OF
continent against wanton intrusions
regulated governments, II does not
seem too much 70 hope that this achieve
ment will henceforth tend TO establish
better relations between the great pow
ers and 10 deminlsh THAI paraly2ing .
apprehension OF impending war which,
for years past. has returned every
spring The mitigation OF that political
distrust may easily have most import
ant effects In the restoration of tinan-
clal confidence. II is calculated to
abate the reservations maintained
among the large European bankers
and thereby impart an important slim
ulus 10 forms of enterprise which have
long been held In suspension. In this
way, the GNco-Turkish imbroglio may,
at no very distant date, prove to be
the direct cause of great revival of
and commercial confidence.
Ii is probable that these foresnadow-
ings from current events is at the bot
tom of the recovery OF steadiness on
the European bourses, The events Of
the war are now having little effect on
those markets apparently because the
conclusion has been reached that the
Powers have the whole matter in CON
trol, and that. when they choose to
intervene, the fiVal settlement will be
made in the interest Of II more salts
fastory basis of the future peace Of
Europe. In any event, that is about
the conclusion Wall street has reached;
and It is therefore disposed to concen-
trate its attention upon influences
nearer home and dismiss the Turks and
Greeks as factors of but second or third
rate Importance in determining the
course OF Investments.
There are plenty of home tendencies
just now to occupy the hopeful atten
ton Of the Stock Exchange, The steady
drift of investments to lower rate of
interest is a matter very directly af-
fecting the future market price Of
stocks and bonds. The recent arrange
ments or the Lake Shore and New York
Central companies for converting each
100 millions of their mortgages into
bords bearing SA per cent, is a striking