The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-24
BANKER CLEws' VIEWS.
Review of the Markets and Forecast
of Possibilities.

of Possibilities.
New York. May 22.-Wal street stin
maintains a strong front, though at times
oscillat ting between opposite influences.
During the first half of the week. there
was a sharp recovery of tone and a pref
ty general advance in prices, which was
simply an expression of the underlying
strength rather than the effect of any
special causes. Later. a combination or
Influences caused some selling Of certain
stocks. with which the market at large
sympathized to the extent Of stopping the
advance and producing some declines.
Among these factors the prominent ones
were a fresh drop in the Central railroad
of New Jersey. which has become a very
sensitive point in the market; the impend-
ing official inquiry into the methods OF the
coal companies; the defeat or the en-
cago Gas consolidation bin In the Illinois
legislature; and the wild harangues IN the
Senate In favor of the recognition OF Gu
ban belligerency. In these influences the
''bears" found material enough for effec-
tive selling
on the other hand, though London has
been out Of the market the new phase
in the Greco-Turlish struggle has been
construed as a hopeful feature In the
future of the market. Hostilities having
been suspended for seventeen days and
time thereby gained for the blood of both
belligerents to cool down, the chances
hardly admit Of a doubt that the armis-
tice will end in an early peace. A point
has been reached at which it Is to the in
terest of the Turks to stop injuring the
Greeks, for. in so far as they weaken
Greece, they impair the chances Of col
Letting what money indemnity they may
procure. As a business operation. IL is to
the interest Of Turkey to deprive Greece
Of no resource that is needed.to enable her
hon Ind .raff do he rtsIta
has shown a disposition to abate his first
demands. He certainly will not be per-
mitted to annex Thessaly, though he may
possibly be allowed to retain suzerainty
over Crete; and it is not unlikely that he
may consent to some considerable reduc-
ton Of the indemnity. Tie is not unaware
what kind Of a dose of internal reform
the powers are preparing to enforce upon
him when this fracas is settled, and he
may be prudent enough TO put himself on
good terms with his political masters Ia
anticipation of that very disagreeable and
perhaps very threatening oVerhauling OF
his brutal methods Of governing. In brief
the real dangers connected with the war
may be safely viewed a. having passed
their acute stage; and the main question
now is-what after the war?
To my view, that Is a problem full Of
hopeful suggestion. Assuming that the
concert OF the six powers conducts this
very sensitive and highly dangerous incl
dent in the eastern question TO a safe set
Element. Il will then have afforded a dem
onstration OF It's cohesion and It's power
over international eruptions; and that will
not only Justify its course IN the present
crisis, but demonstrate its value az q DOS
sible future agency for the preservation OF
European peace. It's success Will prove
the possibility OF what has been regarded
as an lmpossibility-the harmonious CO.
operation OF the leading powers for the
settlement OF critical International dis
putcs, even concerning matters upon
which their interests differ or are actually
conflicting This Il largely a new function
IN diplomacy; and what has been accom-
plished IN the case Of this war shows how
valuable a concert OF this nature may be-
come for the future maintenance OF ami
cable International relations. In this
sense. the concert OF the powers has IN
trOduced an important element favorable
20 the creation Of permanent political con-
ddonce.
More than this. II Is a great gain FOR
quieting the disturbed state % European
politics. that the six states directly luter-