Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1902-02-14
FINANCE AND
COMMERCE
CONDITIONS ARE GENERALLY
SATISFACTORY
HENRY CLEWS' VIEWS
The Foreign Situation Is lmproV-
ing. But Dull Season Is
Approaching.

therefore, the stock market is in an
exceedingly strong position. Few
stocks are in weak hands, and the
floating supply being highly concen-
trated it is impossible to force selling
by artificial means, and trading on
the short side is not favorite pastime
Just now for those having a serious
regard for their financial health. The
result is a speculative deadlock; new
conditions being necessary to give
the market fresh start.
Among those who old the bulk OF
the floating supply Of stocks. the
opinion is decidedly bullish, and in
such quarters very positive predictions
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.
1t is 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 alb.
normal that industry cannot at this
time be deemed fair trade barome-
ter The grain movement at interior
points is running nearly 30 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, nor
only upon railroad traffic but also
upon the foreign exchange market
the consequent scarcity Of commercial
bills being the chief incentive for
shipping over 81, 600, 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 it 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 smonths much will depend
upon the crop outlook. Farmers are
prosperous as a GLASS; they have spent
freely anu the same is true in the
mineral industries, which are yearly
becoming more important factors In
our national prosperity.
The general situation, however, il
satisfactory. II the country seems
disposed to take a period for rest and
reflection after its recent activities,
that may be regarded with satisfao'
tion. General conditions are sound
credit is not overstrained, and there
Is vastly more prudence in regard to
new and untried enterprises than wa'
the case a year ago.
The foreign situation shows distinct
Improvement. London being more
hopeful in consequence Of progress II
South Africa and Berlin showing
partial revival resulting from the safe
passing of serious industrial crisis
A favorable feature in home affairs Il
the prospective abolition of the inter
nal revenue war taxes, which caused
congestion Of funds in the Treasury
we're becoming a serious menace to th'
money market and were the darkes
sloud exchanging the business situa
ton. This danger it is hoped viii
soon be removed. Tbeefore all thing
consideed the local situation Is oecom
ing more favorable to upward manipu
lation. 1t is not altogether surprising
that appearances indicate that stroni
concerted effort is being made to LII
the market out of its recent rut Con
sea lently the market hereafter vii
offer better opportunities for quicl
trading, but l advise taking all mod
| - ,.-o6ts athar than holding on