The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-25
BANKER CLEWs' VIEWS.
The Financial Outlook as Seen From
Wall Street.


New York, Oct 23.-After three weeks of
realizing, with an average drop of about
1872 points In prices, the securities market
has, during the past week, shown a ten
dency toward recovery.
This recovery in the spirit of the mar
ket has modified the course which some
of the larger operators had contemplated
for the next few weeks. The prospects
of the market had been regarded by them
as at least doubtful. 1t was reasoned that
the late great decline and the consequent
losses had produced much prostration and
encouragement and had diminished the
ability to buy and sent many sangline
bulls out of Wall street with empty
pockets. Also, it was said that the four
months of high speculative excitement
could not be maintained and must be fol-
lowed by a prolonged reaction and mac.
tvity. In the mood produced by the
break in prices, there was a disposition
to put the most unfavorable construction
upon the possibilities of our government
becoming actively hostile toward Spain.
There was willingness to make the yell
low fever into an alarming bogy And,
above all, the opening of congress was
viewed as an event attended with so many
adverse possibilities as to call for post
pontulcul VI buyiuS until the duInlnlStfd-
ton and the Senate had shown their
hands upon variety of mooted questions.
1t perhaps was not strange that gen
tlemen who had realized upon an imnaanse
amount of stocks and wanted to replace
them at the lowest possible prices should
indulge in a great deal OF talk of this
kind and wish to see the prostration IL
Wall street continued until the opening
of the new year; and, had there been no
connie lafafinp force thaU nrnha a
have s@seeeded in forcing affairs i'm the
direction they desired. But the event has
proved that there is another power in tho
field.
This country is under the impetus of an
unprecedented expansion of Its material
interests. The preponderance of capital
is on the demand side of values The
leading operators skilled in manipulation.
have faith in higher prices for securities,
and are ready to work in that direction
A vigorous upmove will bring in the pub.
lie who are at present more or less alb
sent or undecided. The return of ease
and abundance of money now makes the
competition with loaners and not borrow
ers. The ability, of this country to draw
gold from Europe in large amounts will
continue for some time ahead. The con-
tinued demand for our products, especially
wheat is assured The increased outpur
of the worlds gold production means
money imitation Of considerable dimen-
sions The general sentiment is hopeful
and confident, After four years of de-
preston such as we have had, four years
of activity should prevail and l believe
will. Business expansion, with Increased
credit, is in progress ali over the world
All nations are fighting with each other
for the expansion OF their commerce TO an
extent greater than ever before The
greatest generals now are to be found
amongst merchants and bankers and not
in the armies. Business enterprise and
the conquering of markets will make the
coming decade historic. Mines that pro-
duce gold and lands that grow beets for
sugar-making will be sought after for
matchmaking. Gold will soon be abur,l-
ant enough to Jingle in every industrious
mans pocket. People will thus become
familiar with gold and will not banker
after 16 to / silver. Instead of railroads
going into the hands of receivers, thew
have now become the receivers of Dron.
erty for transportation to such an extent
as to make almost a car famine This
country Is at the present time virtually