The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1899-09-07
Clews' Financial Report.

CleWs' Financial Report,
New York. Sept. 6.-Condtions on the
stock exchange show little change from
our last advices. Some hesitation was
produced ry the unsettling effect OF the
Iransvaal difficulties upon the London
market, but as the best opinion inclines
20 the belief that there VIII be NJ war
ana that President Kruger will ultimately
make concessions, no serious injury to
confidence followed This market is. Of
course sensitive 10 foreign affairs and
must always remain so in these days OF
close commercial and financial interde-
pendencei yet were war tc happen be-
tween England and the Transvaal it Will
ma this country far better able to take
care OF IT'S finances than usual; ana no
one anticipates that any nood OF Amerl-
can securities could be returned TO ms.
Tor the simple reason that the available
upply over there has been 50 greatly
reduced by shipments to the United Statee
during the last two or three years ANY
Important declines Ia London would bring
out eager buying on this side Of the AZ.
lantlc.
LOCAL MARKETS GOOD.
Ihe general tone OF the local market
continues good. Confidence in a broader
ana more active market during the aut-
unnn Is almost universal This, of course.
Is based upon the extraordinary wave OF
prosperity which extends over the whole
country and which as yet shows no signs
OF having spent It's force The iron and
kindred Industries are making a wonder
tui record; our Who'll history fails to
snow parallel. Raw materials, such as
pig iron, copper and tin, show advances
from lowest prices OF from 80 to 100 per
cent Finished products Of course show
no such rise; but IN many Instances prica
Is secondary condition with buyers.
delivery being the main want. So far
ilgh prices do not seem to have cbocked
business, and there has been a remark
aDio absence Of speculative buying Later
on these conditions must check purcbaae.
asa defer repairs, improvements ana new
enterprises untn values recede TO "a nor.
maj basis: but this stage Of affairs bas
not yet been reached. UntR il approachas
we are not likely 10 witness any import-
ant recession in the stock market.
RAILROADS ALL RIGHT.
halIroad earnings continue making sat
isfactory gains; giving rise TO all sorts
OF hopes regarding increased diyidends
some Of these are likely TO meet win
disappointment for present conditions
mean increased costs IN operating that
VIII materially modify unreasonable ex-
pectauons. A little skepuclsm regarding
DIVIDEND rumors will do no harm. some
OF the best railroad stocks are held az
prices mat o1er slight chances for furth-
er prohts. As already intimated In these
"uNlees' however, there are a number Of
ioW-prleed issues of re-organlzed proper
lies which had been more or less neglect
cd ana which must show large apprecia-
'ion az they approach from non-divl-
dend paying basis,
The market Is likely to have the SIM
port OF big operators for some weeks 10
come; and as these return from summer
resorts dealings Will be resumed with
greater activity Comparatively little at
lention is being paid 10 crop reports. It
Is certain, however that we shall have
sufficient wheat and corn for home and
foreign wants. and that our farmers will
obtain reasonably good prices for their
crops. Prosperity Is shining upon The
neids of the west as well as upon the
mills OF the east.
BANK STATEMENTS.
This Saturdays bank statement is not
likely to be good one. nor is there likely
70 be any inrcease in the bank reserves
during the month OF September, for the
reason that It Is the principal crop NOV
ing month Of the year and money, there
fore is more liable TO be drawn from this
centre than returned 70 II from the varl-
Gus sections Of the country. What viii
make the bank statement worse than
otherwise Is the payment which was
made to the government by the City
Bank for the purchase OF the custom
house, tho amount being S. 266.O O0O. The
small surplus reserve Of the banks at this
season OF the year, when the natural Gun
rent is against the money centre, is OF
course reason Tor conservatism. and
should be a wholesome check against eN-
cessive buying ON borrowed money, and
this 10 calculated TO dwarf the business
OF tho street for the next two or three
weeks az least. ] therefore advocate
quick in-and-out transactions, as tempor-
airy higher rates for money may he used
az any time TO force lower prices.