Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1899-01-29
Copyright, 1899. Associated Press.l


business underwent a notable change
during the past week. The mind OF
the British public is always slow to
grasp changes and people here ara
only beginning TO realize what finan-
ciers and politicians have for months
considered the most important fact of
the year-the tremendous commercial
advancement of the United States.
Ever since the Venezuelan affair, the
only idea of British holders OF Amer
lean securities has been to sell when
ever they could do so with any profit,
or without too great loss. In the
beginning OF the present upward rush /
of American stocks both speculators
and conservative holders OF trans
Atlantic securities were eager TO talxd
advantage of the opportunity to un1
load, the former selling for profit Ii
view of the crash in the market which
was deemed inevitable; the latter ID
get rid of what they regarded as un,
safe property which they had beer
long holding. Both British and AmerU
lean financiers who talked with rep
resentative of the Associated Pres
on the subject agreed that the pendu
lum has now begun to swing in thM
other direction. Investors, seelu
that the anticipated disasters dom
materialize and that the United Stat
is apparently in for a period of gre
prosperity, are coming to the co
clusion that they were over-hastys
unloading their Ami joan holdii
They are retracing III r steps and
giving orders to thsir brokers to rel
the stocks they discarded with I
ing Of Joy at getting rio -
though the newspapers
ing dismaIly over ffs PAM
Wall street Is destined to Mvnea
the near future. according to--1fe d
prophecies.
Business men who have been inter-]
viewed by a representative OF the Ash
sociated Press agree. so far as|
all the lines of legitimate industry are|
concerned, that the United States has|
every reason to be optimistic. Mr.l
Alfred Charles de Rothschild, OF nj
NJ. Rothschild C Sons, spoke enthdsi-I
astically of the American outlook. He
said:
"There seems to be a period OF UNI
paralleled prosperity before America.
SO far as American investments are
concerned, the public must, as In any
other field, discriminate between what
is good and what Is bad. But your
crops, manufactures and commerce all
seem to combine TO place the country
on an unusually sound basis, which
cannot fail to awaken admiration
throughout the world"
One of the most pf0mi1ent bankers
remarked:
The United States is rather too en-
terprising for the peace OF Md OF
Europe. It is rather hard to- 10,
that the statistics OF American
can be true"
His comment seems to repre-
view of others.
The Statist is not sure the n
American business represent ID
prosperity. From the decrease
ports it argues that the high
compelling the poorer classes
themselves many comforts and
farmers during the years OF de
contracted debts which they
termined to pay before theT
themselves their customary col
The Spectator sermonizes or
feet of the speculative boom
national character and says: '
'4Ten per cent. OF the who
lation are having a good big
and, being Americans. who ID
much when they are ruined,
enjoying themselves nightly.
The paper believes that the
effect of such booms Is to inc
tional sanguineness, adding:
mo typical American ever -
result of his own actions, but are
| few typical Americans withofy yomo
: look OF care"
| England has been enjoying little
| boom OF her own in South African
mining enterprises, TO which an impe~
| tus has been given by the presence
| here of Mr. Cecil Rhodes, the South
African magnates but, which attracted
small attention in the newspapers IN
comparison with the more sensational
business across the Atlantic.
Mr.. Rhodes agent, DR.. Rutherford
Harris, says the cabinet has promised
an imperial guarantee Of the Cape to
Cairo railroad from Buluwayo to the
| Zambesi river, a distance Of $50 miles,
! and, when that section Is completed
the government will probably guaran-
| tee the road to Lake Tanganyika.
There Is an interesting story OF Mr..
/ Rhodes's service in connection with the
Soudan campaign, which. incidentally.
placed an important part in influencing
the cabinet in his favor. The govern
ment, it appears, could not buy the
engines and plant necessary to oper-
ate Gen. Kitchner's strategic railroad,
which has an unusual gauge. and when
Mr.. Rhodes heard OF this, he sacrificed
the equipment bought for the British
chartered South Africa Company, and
so enabled the campaign to be finished
nearlya year sooner than would have
beeA possible II he had not come to ths
lyescus.