The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-29
The BOOM in AMERICA.
British FinancIers Sorry that They SOLO
Their Holdings.
ARE NOW BUYING BACK THEIR PROPERTY
Icrdtru I,nnkcrs Admit that Nnef-
len lis Enjo. ing Prosper"' '"
stock Speculation.

LONDON, January 90 ~ -,
British Investors towards American Jus
ness underwent notable change dut,he
the past week. The mind of the british
public is always slow to grasp cnahses' ".'
people here are only just peginn'ns "
realize what financiers and politicians nave
for months considered the most Important
part OF the year--the tremendous CONNER
cial advancement OF the unltea SIa'es'
Ever since the Venezuelan afair the oh,s
idea Of British holders OF American seoui'-
ties has been to sell whenever they couiu
do go with any profit or without too great
loss.
In the beginning of the present upward
rush of American stocks. both spectators
and conservative holders of Transatlantic
securities were eager to take advantage oil
the opportunity to unload, the former sell
Ing for profit In view of the crash In the
market which was deemed inevitable, tue
latter to get rid OF what they regarded as
unsafe property which they mad been long
holding.
Both British and American iinanciers
who talked with a representative OF the
Associated Press agree that the pendulum
has now begun to swing In the other d.
rection. Investors seeing that the antlcl-
pated disasters do not materaiize and tnat
the United States is apparently In for
period of great prosperity, are coming 10
the conclusion that they were over haety
in unloading their American holdings. They
are retracing their steps and are giving
orders to their brokers to rebuy the stocks
they discarded with feeling of JOY at get
ting rid of dead wood though the news
papers are still croaking dismally over the
panic which Wall street is destined to wit
ness In the near future, according TO all
their prophecies.
Business men wto have been interviewed
by representative of the Associated Press
agree that SO far as all The legitimate il-
oustry are concerned the United States has
every reason to be optimistic.
Mi. Alfred Charles de Rothschild of u.
NJ. Rothschild & Sons spoke enthusiastical-
iy of the American outlook. He said
There seems to be a period of unparal-
leled prosperity before America. So far rs
American investments are concerned. The
public must, as In any other ield discrim-
mate between what is good and what is
bad. But your crops manufactures ana
commerce all seem TO combine 10 place the
country on an unusually sound basis.
which can not fail to awaken admirati N
throughout the world
One of the most prominent bankers res
marked; The United States Is rather too
enterprising for the peace OF mind in Tu-
rope. Ii is rather hard to believe that the
statistics of American exports can be true.
dis comment seems to represent The viaws
of Others.
The Statist is not sure the figures OF
American business represented increased
prosperity. From the decreases 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, contract
ed debts which they are determined 10 pay
before they allow themselves their GUS
tomary comforts.
England has been enjoying a little boom
of her own in South Africa mining enter
prises, to which an impetus has been given
by the presence here of Mr.. Cecil Rhodes.
the South African magnate. but which at
traeted small attention in the newspapers
in comparison with the more sensational
business across tho Atlantic.
France as the incen1iary factor in
European politics, has suddenly subsidized.
The diplomats in London and Paris are
comforting daily. which gives color to the
story that great treaty IL being made BY
which All the disputes between Great
Britain and France will be settled One
report which finds credence is to tho eff
feet that Great Britain gives France the
Congo FREQ State as compensation for her
demands in connection with Madagascar
and Newfoundland and to placate her for
the conquest OF the Soudan. Whatever
may be the reason, the tone of the French
statesmen and press toward Great Britain
has shifted to one of Cancellation.
The French people appear almost worn
out by the Dreyfus agitation and there are
signs that the majority of them have re-
signed themselves to accept re-triaI,
which seems to be the only possible ont
come of the proceedings.