Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-02-15
THE FINANCIAL SITUATION.

NLtllf A64 Ly OAsIlirl last year,
would have precipitatsi a panic, says
Henry clews. The outbreak OF war,
the Baltimore fire and the collapse
in cotton speculation, as well as IN.
usually heavy borrowing by The rail-
roads. Al coming together, placed i
tremendous STRAIN upon the monetary
situation me resultant decline or
onig tNo polats which vas promptly
followed III foag reaction affords
rsipg eyid " the healthy
is 81 The Liquidation of 1909
The Nar u colr Porarily
ossrshadees Ill otaer Influences
Japaae carry victories encourage
hope IN ] short uar u wen IL 1 check
q Ra2sian eneroa 8hich lat
sre certainty adverse y prog.
o civilization ID yLew 81 gea
au III Japan
4 aud Japanese
foF are ey q haY
a
ahfa Ra success might ri
exam
Eaf none 81 ta woflds money
mak Rare fel he
worst fallng upon paris
Russian bond arc largely ha
II Eas thaf
holds Eot ie than III
Russian bonds tina R
htr
from hes 81 good
are hid a Late an Rus
make i Better bow resist.
anea hill the superior artn II the
gapane has area woa m ,ua
pogtant advantages
the Baltimore ars i calamity which
has brought her pFueks citizens aband.
ant 8ynlpthy and consideration. sill
nof be l serious stock market tn-
aueace The best estimates are that
th nlss III insurance companies Will
fail beIoa s5ao90o o9. i considerable
portion IL which must be paid by for.
clEn companies These losses viii
moreover be paid gradually in many
cases an hi surplus funds III hy TEN.
porary loans - that no great amount
of securities vii he forced for sale
70 pay losses which fall chiefly unon
strong companies able to meet all
these obligations Wi.hou. difficulty.
The most serious consequences TO
Baltimore Will be the arrangement and
losses cannot be made good; but Rai-
%tin1ors will be rebuilt a better and
more beautiful city; and her business
men are TO be admired for the cour.
ageols and resoIute spirit in which
they are eonquerEng adversely. Some
interests will benefit BY the disaster;
for labor steel ana building materials
Will be large demand for months 10
come ret war and Are destroy real
wealth, AMI while they create new
activities. they are IN no sense bun
arguments,
Another disturbing feature was the
loag feared collapse a the speculation
ID cotton The government report on
cotton ginned. issued on Tuesday,
proved concIusiyeiy that TIE bun cam.
paign on cotton had been conducted
ID mistaken calculations ii 10 the
crop Some N the bull leaders had
predicted a Yell al low as $500. 900
bales While TIE government report
ghnW sls lp0o commercial bales
aaed iii HI January I6 With 4 con-
siderable portion 81 til crop yet 70 be
heard from This information quick.
iiy destroyed tae sxtfem. short crop
theories and seriously impaired Il not
n3el thn bnll campaign Iii this qsiar.
tsr there has been no actual destruc.
ten IL property hut simply a loss a
paper proHts and i more II less VOL.
ent shifting q wealth from one eiass
III operators u aro Thus m no
cr5ogs troubles have followed fhs
break. which Viii i felt uith mos,
severity Fl TIE south
There Just one other feature m.
lcfs caution ana that the xfsl.
ordinary borrowings 81 f4s raiIroad
ami oth corporation chiefly the
railroad WITHIN liz last a weeks
over s209.o0a.o0e Of notes bonds cr
ethsr gaiions base born placed ~,
ths market ard uure arc IN ifot
lpa,
or c1lrse many &c oHr r0a cor.
pofatlofs are ariyen q the enoslr
oa- 0aaays II older f0 urgent
ttaac demant 80 hat ire rtat'
nis nas fons arc 4
sfy anl so0ta stlli II supply q
h rite prove RFat than
tn8 fRlucs nuf III
4aer accordingly
Mnneg Btill appears iD bnt
pyeiIent ~ walt the er
zgEAN