The sea coast echo. [volume] (Bay Saint Louis, Miss.) 1892-current, 1902-02-15
FINANCE AND
COMMERCE
CONDITIONS ARE GENERALLY
SATISFACTORY
HENRY CLEWs' VIEWS
The Foreign Situation Is Improv-
Ing. But Dull Season Is
Approaching.

New York, Feb. 10. 0.--Technioally,
therefore, the stock market is In an
exceedingly strong position. Few
stocks are In weak hands, and the
floating supply.be highly concen-
trated it Ia impossible to force selling
by artificial means, and trading on
tho short side is not a favorite pastime
Just now for those having n serious
regard for their financial health. The
result Is speculative deadlock new
conditions being necessary to give
the market fresh start.
Among those who h hold the bulk of
the floating supply OF stocks, the
opinion Is decidedly bullish, and in
such quarters very neutrality-suspicious.
of higher prices are current. In other
circles however, decidedly oonser
vative tone exists. With many the old
argument that prices are already as
high as conditions Justify Is still q
potent one.
IL 10 worthy Of note that bank clear
ings and railroad earnings, though
very satisfactory, are showing steadi-
ly falling increases The iron trade
Is just now the only business exhibit
ing any phenomenal activity; and the
demand for iron being special and ab.
normal that industry Ecannot at this
time be deemed fair trade barome-
ter. The grain movement at interior
points Is running nearly 80 per cent.
below last year, and cotton receipts
have begun to decrease also. Short
crops of corn and cotton are at last
beginning TO show their effect, not
only upon railroad traffic but also
upon the foreign exchange market
the consequent scarcity of commercial
bills being the chief incentive for
shipping over S4,o00, 900 gold this
week. A much more careful feeling
is noticed in mercantile circles,
where high prices on merchandise are
beginning to show their effect in less
ened sales and diminished consump-
tion. There is no occasion to believe
that the end Of good times Is at hand;
but here and there signs of having
touched high-water mark are multi
plying, and IL is becoming clear that
activity can only be continued by
bringing prices down to more reason
able level We are now approaching
the dull trade season, and during the
next six Emonths much will depend
upon the crop outlook. Farmers are
prosperous as a GLASS; they have spent
freely ana the same is true in tho
mineral industries, which are yearly
becoming more important factors In
our national prosperity.
The general situation, however, is
satisfactory. II the country seems
disposed TO take o period for rest and
reflection after Its recent activities,
that may be regarded with satisfac-
tion. General conditions are sound;
credit Is not overstrained, and there
is vastly more prudence in regard to
new and untried enterprises than was
the case year ago.
The foreign situation shows distinct
Improvement. London being more
hopeful In consequence of progress In
South Africa and Berlin showing o
partial revival resulting from the safe
passing Of serious industrial crisis
A favorable feature In home affairs is
the prospective abolition Of the inter
nal revenue war taxes, which caused
congestion Of funds In the Treasury,
were becoming serious menace to the
money market and we're the darkest
cloud exchanging the business situa-
tion. This danger it is hoped will
soon be removed. Theefore all things
oonsideed the local situation is beoom-
ing more favorable to upward manipu-
lation. 1t Is not altogether surprising
that appearances indicate that strong
concerted effort is being made to lift
the market out of its recent rut. Con-
sequently the market hereafter will
offer better opportunities for quick
trading, but ! advise taking all mod
crate profits rather than holding out
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