The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-03
BANKER cLEws' VIEWS.
Review of the Markets and Their
Controlling Influences.

New York, May 1.-Dullness and steadi-
ness of prices have been the characteristics
of business in Wall street during the past
week. The situation is generally hopeful
and holders of securities show no DISPOSE
ton to sell; but on the one hand there is
a variety of uncertainties overhanging the
market-such as the Greco-TurlSish war,
the cloudy outlook for the grain and cot
ton crops, the starting Of gold exports and
the restraint on certain industries pend
ing tariff egislauon-while on the other
hand, there is an absence of any decisive
factors tending towards higher prices; and
the net result is neutral situation OF
quiet but confident waiting for some in
huential 'bull' happenings that will start
up buying movement, the bears" mean
while contenting themselves with brief
and cautious turns.
The exciting news from the seat of war
has been, on the whole, conducive to
strength in the financial markets. The ef-
fects here are dependent upon the temper
of the markets of London, Paris and Ber-
lin and, at those centers, It is taken for
granted that the disasters which have
befalien the greeks must EeSuAl III a
speedy conclusion of the war upon basis
which will afford more satisfactory guar
antees for future harmony in the politics
of Eastern Europe than have hitherto ex-
listed, The effect of such an expectation
is to keep the foreign bourses steady;
which is about all that can be expected
until these expectations become accom-
plished facts; when very material re-
covery in the value of national securities
would naturally be forthcoming. There
appears to be a dearth Of new enterprises
seeking capital In Europe; and negota-
tors and investors impressed by the re-
cuperative tendencies developing In the
United States are waiting for peace as the
occasion for fresh investments IN our Sc
curities AS matter stand, at the present
moment, this Is the factor upon which a
revival OF activity on this market is more
likely TO depend than on any other infiu-
ence In sight.
The sudden starting up Of exports OF
gold though not entirely unexpected, has
rather surprised Wall street by tho large
ness OF the amounts Of the shipments, the
sums shipped and engaged for shipment
M TO next Tuesday being N000,OOO This
rnovenent Is Incidental to the state Of the
continental markets. Paris has been
large seller OF Kafirs at London, and
Vienna Is a free buyer OF the metal for
consumua ting the Austrian resumption
scheme. London can meet these demands
al a good profit by drawing the gold from
New York Yet, looking at the figures
Of ou- foreign trade, Il Is not easy 70 hnd
any conclusive reason for expecting that
the outflow will reach really important d.
monsions. The Official returns show the
imports and exports. for the nine months
ending March 81. 70 have been as follows:
Exports. Imports.
Merchandise .&Sl2,l0OV0O Ny8'DO'OW
Gold ................... 100000 100000
Silver .........a........ 100000 100000
cold and silver ores. l,i00.OO0 100000
Totals .............. 1885,, 000O00 500, iO0, 900
Balance Of exports b.. 2si,G0OO00 ............
The movement In merchandise and the
precious metals thus shows an excess OF
exports over imports amounting 20 $751;
e00c00 II wc charge ourselves with ti20.
CO.O'0 as the net debtor sum accrulng on
Interest payments, travellers credits
freight and passenger charges. immigrant
money. OUTLAWS Of foreign vessels IN our
ports etc--which is certainly highly lib
oral alloWanee-thero will gtlll remain over