The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-11-29
A PROSPEROUS SPRING
Is Predicted by Henry Clews Though
He Says it is Dull Now.

New York, Nov. 29.-Henry Clews' lat
est financial review after reciting the
prevailing dullness in stocks and sug-
costing probable causes therefor says:
The settlements and interest dis
burSementS made at the end of the year
distribute a large amount of funds,
which usually contribute to a January
rise in prices. The last six months OF
business revival. especially in the inter-
ior cities, is likely to result in liberal
distributions of earnings; and that
money may be expected to find its way,
more or less, into Wall street mat,
however, Will depend, in some measure,
upon what may be the prevailing feel
ing at the opening of the year, That
ought to be good. All reports agree in
representing that, in the agricultural
sections, the results of the last half
years business have been unusually
satisfactory Moreover, still better
state of trade is expected for the next
season. The improved state of our man.
ufactures is howing itself in a steady
increase in wages and the general full
operation of the factories. In short, a
prosperous spring trade is taken as q
fOreSOne conclusion. How the action
of congress may affect these prospects
remains to be seen. 1t seems sate to
take it for granted that we have little
to fear from jingOism- Also, there
seems reason to hope that, when con-
gresSTnen feel the public pulse as it
beats at Washington, they will come to
the conclusion that the currency ques-
ton cannot be so easily ShelVed as
some of them have hoped; and any
disposition to do something real and
effective toward giving us permanently
sound money would prove a very posi-
tive help to confidence among the bust
ness and investing classes, and would
faVOra bly, affect the status of our Sc
curities IN the foreign markets Per-
hapS the most sensitive legislation will
prove to be connected with the railroad
questions that will come up for treat
ment. Pooling and the powers of the
interstate commission will no doubt
awaken the still Slum boring Granger
it viii be found that the commercial
opinion of the country has largely come
round in favor of settlement of these
questions that will give the roads a fair
and exempt them from undue extraHe-
Gus official interference. The great in
tereSts whom the railroads serve are so
weary of the unsettled condition of the
carrying trade that they will be likely
to support any fair and equitable pro-
pOSalS the companies may present, and
to oppose anything that SaVOrS of fac
tiOnal Bryanite hostility to the trans
pOrtatiOn interest.
Upon the whole, therefore. we see no
seasons why the New Year may not be
expected to open with a better feeling
in the stock market and a renewal of
speculative buying. The congressional
discussion of the railroad questions is
likely to be attended with disturbing
proposals, but so long as there is little
probability of their acceptance such Oc-
currences would afford only transient
variations in the course of prices. There
is no doubt much holding back from
Wall street operations with a view to
aScertaining the temper of congress
and the drift of conditions at the open
ing of the year; and, when those have
ceased to be uncertainties of the fu-
ture we look for a resumption of spec
uIation; with what force or measure of