New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-16
GOOD TINES AHEAD SURELY
BUSINESS MEN ON THE REVIVAL OF
PROSPERITY.
s,oyprr1oN OF srocKs-A TALK WITH j. Ed
WARD sIMMoNs--TEsTINoNY OF coUNiHi
MrRcBANTs-ErEEcT OF PLACE IN
SHIPPING CIRCLES.

WAN srMMoNs--TEsTINoNY OF COUNTRY
MrRcBANTs-EFTEcr OF PLACE IN
SHIPPING CIRCLES.
rr.rv dav that passe. convnces the business
community moro and more firmly that the country
Il on the verge Of an era OF great prosperity NJ
rorts from ell parts of the United states give h'u
cations Of the advance Of general eood t"es III
an unusual degree 1t was tia general nehci "ne"
tho war broke out that business was about 10 eN-
ner,enco n marked revival. and there we're many
regrets from business men that the turn OF aHairs
brought about war. Fut merchants ana manu-
facturers are now Of the opinion that inc oc'aS
was merely delay and not an indehnit" postpone
rnent a retrogress!on
Merchants visiting Network from all paris oi
tho Union sive testimony that makes things look
exceedingly hopeful. OF course. NOBODY pfetehus
10 know Just how far the course OF business WI"
run toward prosperity. hut almost every observe,
ventures the prediction that An era OF genera
prosperi.v is about to begin that has NOT been
exceeded IN a long time SAID W. Il. '0r""r' u
the Merchants Association. yesterday;
Within the last week there have visited New
York merchants from more than thirty States In
the Union. These have included representatives u
nearly every line Of commercial activity III III"
country Almost without exception they pear 'r9-
timony 10 the fac, that prosperity is upon INC
country Those whose testimony seems most Vai-
uable are the many small merchants VINO come
into personal contact with men OF an "orts !"
their several communities They say that INC lar
mers are unusually prosperous TINT 'he" 0'0p9
are good and that they arc paying on the mo'
cages on their farms and their other debts In
the great wheat country OF che Northwest Things
look esnecialv hopefu.. Texas. TOO. according 10
all reports is In for revival or business '"'' VIII
exceed ANYTHING Of tho sort that has been known
since iSs2 Texas is diversifying ner crops an"
nor- raises n dea, of wheat and corn ana po'a'oe'
and tho outlook for the late cotton crop is eNce'
I'm, In the iron States all furnaces are running
,,r time and some of them day and night.
..Shipping il looking away up. -1ork "lei
chants say that business this year II ea"a' ~ NC
OF last year at the same time ana ias' yea III
August there was n record breaking rush Oh i"e'
chants who wished 10 do their puyihs III '''ie "
discount the effect of the tariff
COUNTRY MERCHANTS TESTIMONY
,ohr r. Eames of the II. 3. Clafin Company,
..,d that business conditions were now healthier
than they had been for years. and that country
merchants who were coming TO TOWN. ropo''eu
without exception feeling Oh great hopeiu'"e'
throughout the country. Mr.. Eames said ne was
looking forward to one OF the most prosperous SC"
sons ever known in this country
q T. Putnam of the firm of Sweetser. PemorooK
A. Co said that money was easy COLLECTIONS "eie
good and failures few. crops ali over t"o .ou'
FRY" he said ARE in fine shape and aIthoush inc
country buyers are a little later IMAM usual ',
year because they wished to delay buying until
the result OF the peace negotiations could be estao-
ushed. they are coming now in great numbers
E j. Richards. the assistant genera passene.
agent of the New-York Central Railroad saio'
Undoubtedly the end Of the war marks the DC
ginning of prosperous trade conditions III TINS coui,
frv Apart. however from the reaction when VII!
follow the stringency that prevailed when II was
known war was inevitable and since the war mas
been in progress immense volumes OF tfaoe mus
follow the acquisition OF Cuba and Porto rico rico,
The commercial relations with this country VIII
yield extremely rich results to the oheu Sac,
and T. Is natural to suppose that the railroads Oh
This country will participate In the renewed pros
perity which must inevitably follow
The stock market yesterday displayed s"ehs'n
and steadiness The transactions were on an VI"
,sual scale over half d million SHARES oeihs SUN
during the session. The PUBIC 1nVes,ine".
again In evidence. and the buying for TINS outsiue
account gave prices another uplift all along the 'he
In spite OF large selling for liquidation "hch 'ooh
Mace at different times during the uay' the o'uei'
from the outside at the opening and close were SUI
dcently heavy to counterbalance the erect VI '"o
selling
J. EDWARD sIMMoNss VIEWS
In speaking OF the prospects for business. J. Ed
ward simmons president of the Fourth National
p,,k and nrcsident of the New-York Clearing
House Association. said yesterday:
II believe the country is going 10 experience a
good solid substantial period OF business prosper
ity don't mean A great boom. for IN most cases
a
reaction As a matter Of fact. values have ALREADY
bsen largely increased as result Of the many rea-
sons that have been brought forward 10 snow mat
prosperity ought 10 be at hand The banks nave
penty OF money hand TO loan and the rate OF IN
terest Is low call loans being at IL and commercial
paper at 80 10 AZ The total deposits in the New
York hanks amount TO $3.50 s54. 500 business men
have the following for believing that good
times are at hand: The country IS once more AZ
peace The is al an end. There is nothing 10
be spprehended from any embarrassment 10 Inc
Governments finances The war taxes will yield
large income. and no doubt will be kept OH for some
time TO come. The past has taught some valuable
lessons There is no danger of reforming ourselves
into deficit. Then again. We arc assured OF good
crops. with the prospect Of a good demand from
abroad not only for crops. but also for tho out
put Of our factories. Confidence on the part Of the
reorle has been restored Convinced OF the determi-
nation on the part Of the Government 10 maintain
a sound currency. capital IS now anxious 10 under
take new enterprises and carry them on without the
danger which threatened from the theories OF the
free-silver advocates"
The Cuban and Porto Rican trade has already
assumed its normal condition since peace
declared. and all shipping interests look forward
TO greater increase ~ tho exchange OF COM
nodities between ports Of these islands and the
United States. Steamship lines took advantage
Of The CAPTURE Of Cuban ana Porto Rican ports,
and as vSSn ihe
actually signed the lines plying between New
YORK ana these poItS 1T oh'N aiinHe'' ~ ieSNHo
their regular business.
The first line do this was the NewYork and
Porto Rico Steamship Company. Of which Miller
Bull e. Knowlton are the agents here. This line
M once sent steamers to Ponce. and Will hereafter
run vessels Oh regular schedule. touching at all
Porto Rican ports.
ENTERING THE PORTO R1CAN TRADE.
The Quebec Steamship Company. which has not
heretofore entered actively into Porto Rican trade
will send out the steamer Orinoco for Ponce on
August %. Another line which has now become
one OF the competitors for the trade in Cuba and
Porto Rico is the Munson Line. Its first steamer
scheduled to sail is the Schleswig. which will leave
here to-day for Havana. She booked to sail
xesterday hut all the freight for that port could