The age-herald., 1899-01-29
THE BRITISH SPECULATORS
Are ReinYeStiug Their Money in the
 American Securities.
SUDDEN UPWARD RUSH OF STOCKS
Has Caused the English Brokers to Think That They Were Overhasty in Unloading Their Holdings.
 France Suddenly Subsidies.

London, January 2S.-The attitude of Brit ish investors towards American business underwent a notable change during the past week.
 The mind of the British public is always slow 10 grasp changes, and people here are only just beginning to realize what finan- ciers and politicians have for months con- sidered the most important fact of the year-the tremendous commercial advance ment of the United States.
 Ever since the Venezuelan affair the only idea of British holders of American securl- ties las been to sell whenever they could do so at any profit or without too great a loss. In the beginning of the present up- ward rush of American stocks both specula- tors and conservative holders of trans Atlantic securieties were eager to take ad- vantage of the opportunity to unload, the former selling for profit in view of the crash in the market, which was deemed in- evitable; the latter, to get rid of what they regarded as unsafe property which they had heen long holding.
 Both British and American financiers who talked with a representative of the Asso- ciated Press on the subject agree that the pendulum has now begun to swing in the other direction.
 They Were Over-Hasty
 Investors seeing that the anticipated dis asters do not materialize and that the United States Is apparently in for period of great prosperity, are coming to the con- clusion that they were over-hasty in un- loading their American holdings. They are retracing their steps and are giving orders to their brokers to rebuy the stocks they discarded with a feeling of joy at getting rid of dead wood, though the news papers are still croaking dismally over the panic which Wall street is destined to witness in the near future. according to all their prophecies.
 Business men who have been interviewed by Representative of the Associated Press agree that so far as all lines of legitimate industry are conceryed, the United States has every reason to be optimistic. Alfred Charles DeRothschild, of N. M. Rothschild & Sons, spoke enthusiastically of the Amer ican outlook. He said:
 .There seems to be a period of unparal- leled prosperity before America. So far as American investments are concerned, the pubic must as in any other field, discrim-
  bad. But your corporations, manufactures and commerce all seem to combine to place the country on an unusually sound basis, which cannot fail to awaken admira ton throughout the world"
 Prominent Bankers Statement
 One of the most prominent bankers re- marked:
 "The United States is rather too enter prising for the peace of mind of Europe. It is rather hard to believe the statistics of American experts can be true."
 His comment seems to represent the view of others.
 The Statist is not sure the figures of American business represent increased property From the decrease in imports 1t argues that the high tariff is compelling the poorer classes to deny themselves many comforts, and that the farmers, during the years of depression contracted debts which they are determined to pay before tEey allow themselves their customary comforts. England has been enjoying a little boom of her own in South Africa mining enterprises to which an impetus has been given by the presence here of Mir Cecil Rhodes, the South African magnate; but which attract ed small attention in the newspapers in comparison with the more sensational busi- ness across the Atlantic
 MT. Rhodes agent, pr. Rutherford Har- ris, says the cabinet has promised an im- perial guarantee of the Cape to Carlo rail- way from Buluwayo to the zambasi river, distance of $50 miles, and when that sec- tion is completed the government will prob ably guarantee the road to Lake Tangany- ika.
 Story of Cecil Rhodes
 There is an interesting story of Mr. Rhodes connection with the Soudan canl- paign which, incidentally played an impor- tsant part in influencing the cabinet in his favor. The government, 1t appears, could not buy the engines and plant necessary to operate General kitchener's strategic rail- , read, which has an unusual gauge, and when MT. Rhodes heard of this, he sacri- feed the equipment bought for the Brit ish chartered South African company and so enabled the campaign to be finished near Iy a year sooner than would have been possible if he had not come to the rescue. France, as the incendiary factor in Euro- pean politics, has subsided. The diplomats in London and Paris are comforting daily which gives color to the story that great treaty Is being made by which all the dis putes between Great Britain and France will be settled. One report which finds ere dence is to the effect that Great Britain gives France the Congo Free State as com- pensation for her demands in regard to Madagascar and Newfoundland and to p,a- cate her for the conquest of the Soudan.
 Tone of Cancellation
 Whatever may be the reason, the tone of the French statesmen and press toward Great Britain has shifted to one of concili- iftion
 The French people appear almost worn out by the Dreyfus agitation ard there arc signs that the majority of them have re- signed themselves to accept a re-triaI, which seems to be the only possible out come of the court of cassation's proc. ings.
 Inere Is m.ich interest here in the Duke of Abarzzas north pole expedition. Before