The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-01-05
MINING.
BOSTON Mass. January 4, 1895.


BosToN, Mass, January /, 1898.
New Years Day and holiday in the
stock markets. The bulls and bears
have laid aside the cares OF business and
speculation and are taking a short yaca-
tion. The street practically is deserted.
although general business is being car
ried on the same as usual. This ia the
time when reflections are not out OF order
and comparisons. generally said to be
odious, are very satisfactory if applied
to the results of the past year "a against
the few years Immediately preceding.
The outlook today and the outlook a
year ago today are strangely contrasted,
but no more so than are the events of
1897 as compared with 1896. During
the last named year the silver panic conn.,
pletely upset both financial and CONNER
cial interests; trade was stagnant and
values we're at large discount during
the greater portion OF 1896 VIII lie in
the year Just closed, there was a revival
in business and values appreciated very
materially a. measured by stock market
prices.
The record OF clearing exchange during
the past year.shows wonderful growth |
10 business. In New York alone the in
creasein the volume of exchanges at the
clearing house was 81, 500,00G,00O and |
in Boston the exchanges last year we're
'arly S600,000,00O ahead of 1896. |
Railroad earnings last year, also, told of |
greater prosperity than has been enjoyed |
for number OF years. Numerous reor- |
gained railroad properties resumed pay
ment OF contingent interest and dividends |
within comparatively short time after |
reorganization. Other evidences OF bust |
ness revival might be cited to show the |
improvement in 1897 as compared with |
previous years and the outlook at pres
ent is favorable for still further improve
ment during the coming year.
The new year promises to open with a |
bull market in a modified forn: that il
prices will continue strong, but without |
making any material or sudden ad vances |
such as we're witnessed last summer dur.
ing the upward movement. Ia looking
ahead the business man is confronted |
with every prospect OF success; there ia
no unsettling tariff legislation in eight
which is likely TO disturb business: onr
foreign relations appear more satis'ac.
tory. although, in reality. not much
changed from last year. But public sen.
t'ment is more favorably disposed to-
wards the administration and there ia
no less lear OF complications with foreign
powers and the absence OF fear and the
presence OF confidence on the part OF the
public goes a long way towards keepinu
business men in the proper frame Of mind
to attend to business and let politics
alone.
General business, also, il fav.
ored with an easy m oney market Fnnds
are in ample supply for the needs of the
business community at low rates and
new enterprises need not languish for
want OF capital which can be hired an
cheaply. Even the heavy disbursements
on account OF interest and dividends
over the fret OF the new year, with the
consequent shifting OF funds, have failed
to cause an advance in loaning rates.
money between the banks at clearing
remaining at 2 per cent which was the
case last year at this time, although at
that time the banks did not have 70
large an amount loaned out as at present.
The cotton industry here in New England
Is the one dark cloud on the horizon, but.
as one metropolitan writer put it, even
the sun has its spots and the unsatisiac.