The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-12-26
ENGLAND ALARMED
AZ the Great Strides Made by this
Country in Commerce. and Finan
.cinI AfEairs.

AZ the Great Strides Made by this
Country in Commerce and Finan
clal Affairs.
LONDON, Dec. 25.-It is no exagger-
alton to assert that the foremost topic
compelling attention in Europe in gem
eral. and in Great Britain in particular
overshadowing the dreary broils Of do
nestle politics, is the remarkable, ag-
gresslye, commercial prosperity which
the United states is manlfesting. Hard
~ a newspaper review or public
speaker during the last month has
failed to notice with what giant strides
America is coming into iiTst place IN
the alignment Of the powers. II Is GER
taInly the chief subject OF CONVERSE
ton on Lombard street, ana on tle CVN
tInental bourses. ..,.
London banks recently drew an Amer
lean business man into his private Of
flee. and said in an awe-struck tone.
'''Tbis Is the first time in the history
Of finance that New York has been IN
n position to dictate money rates 10
London, Berlin and Paris"
THE bank manager added that Lon
don's purchases OF American securities
were a featherweight compared win
the balance OF trade in New Yorks ta-
James Brlce. in a speech before the
Leicester chamber Of commerce sounu-
ed warming TO British manuIac GU ".
He emphasized the fact that the eX-
ports OF the United States and Ger
many had increased 34,0OO,000 pounds
and 81 600, 900 respectively between 1881
and 1897, while Great BrItain's de-
creased 100000 pounds. He further
pointed out that the business OF the
United States IS developing along
many important lines, while Great
Britain, he added, should have held
against all competitors. Mr.. Brice un,
hesItatingly asserted that the United
States could produce rails cheaper
than Great Britain, and said he saw no
possibilities of opening new markets
except in China.
Great Britain seems to have become
reconcIled to the capture Of the iron
markets by the United States. Amerl-
cnn firms are uniformly successful IN
bidding against the British firms. The
Carnegie company and the Illinois Steel
Company have opened extensive offices
IN London, and are making tnroads up
on the British preserves. Millard Hun
skier, the Carnegie Representatives, mas
contracted for $4,000 tons Of rails for
the CoolgardIe road, Australia, and the
company was unable to undertake the
contract for $4,000 tons more.
A dispatch from Berlin says 1t Is
fact that the Russian government has
ordered 10000 tons Of American rails,
and the project for competition for the
contracts in connection with Russla's
extensive railroads alarms manufactur-
ers here and elsewhere. Consuls assert
all Europe is swarming as never betore
with the agents OF American 1anutac-
turers OF steel, street railroads, cleo
trIcaI apparatus and all kinds OF ma
chInery who are leading the CONNER
clal invasion.
The reports Of attempts to float o
Russian loan in New York have been
received skeptically here. Several fnan-
cIers said that Russia tried to raise
money in London. Paris, Berlin and
Amsterdam, possibly with the view OF
reapIng Incidental political advantages:
But, il is admitted. 1t is question OF
q short time when capitalists Will have
10 reckon with New York as a compel
Itor in high finance.
The Daily Chronicle comments upon
the fact that American capitalists
..have the courage OF their financial
opinions II they think they know the
European situation better than the cap
Itallsts OF the Old World"