The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-08-17
FINANCIAL FORECASTS.

Readers of newspapers are all doubt
less familiar with the methods pursued
by the weather bureau in making its
forecasts. A bulletin is issued which
predicts rain on the following day If
the rain fail to come a similar bulletin
is issued on the succeeding day and this
is kept up until it does come. The fore
caster then places the successful pre-
diction to his credit.
Mr. Henry Clews in his late financial
circular issued from Wall street, where
the bulls and bears have for sometime
been engaged in a fierce battle for su
premacy, gives evidence that he has
studied the weather bureau methods to
a purpose. Mr.. Clews has been fore
casting a revival of business, a return
of prosperity, a great and irresistible
bull movement almost continuously
throughout a period dating back to the
repeal of the Sherman silver purchase
law. In his last circular he announces
that his predictions have come true and
plumes himself on his success as a fore
caster of financial sunshine in the fol-
lowing language:
THE readers of our weekly advices
Will not need to be reminded OF our
continuously repeated foreshadOwings
of a great upward movement in the
market for securities. We have now
upon a scale surprising to even the
most sanguine observers. For the last
two weeks, the transactions on the ex-
change have exceeded in volume the
most active operations in the eighties,
and yet the movement is clearly only
in its beginnings.
THE market appears to have come
all at once to solid conviction that the
recovery predicted in both trade and
finance is a positive reality and not the
mere hope of sanguine optimists; and
with this conviction comes in an entire
~ new state of things, in which the
marking up of all kinds of securities
becomes inevitable
After pointing out that the advance
in securities is in no way ephemeral
but is on solid basis and here to stay
he continues:
THE whole commercial and financial
drift of the country is moving parallel
with the recovery in the investment
markets. The railroad earnings tell
the whole story of business revival The
interior roads are showing increases of
earnings ranging from to 20 per cent;
and yet the improvement is only in its
beginnings. Some doubt has come over
the corn crop in certain sections; but
the wheat yield may be safely calcuIa-
ted at 500. 200. 600 bushels. The move
1nent OF iron ore at the west is unpre-
cedented in quantity; which shows
what may be expected from the trade
that serves as the barometer for all
other trades Interior commercial buy
ers, VINO are Hooking to this city in I'M
precedented numbers, report an encour-
ageu feeling and sanguine expectations
for the fall trade in all sections
city bankers report their country
correspondents as unusually confident
about the prospects of business and as
DESTROYS Of making large arrangements
for accommodation for the next six
months. The foreign exchanges have
turned in our favor, with the expecta-
ton, both in London and here that a
season of gold imports is about to set
In which may make an important addi-
ton to our stock of the yellow metal
The klondike gold discoveries cast their
shadow before them in suggestions of
further large additions to the worlds
stock of gold and the consequent dis
placement of the deprecated money
metal that has so shaken confidence
during recent years.
He closes by calling the attention of
London investors to the fact, clear to
him, that now is the time to buy.