Salt Lake Herald | 1891-12-06 | Page 12 | New York Bankers on the Situation

New York Bankers on the Situation Henry Clews writes Tho remarkable concurrence of events of a pacific tendency puts for the time being at least a widely different aspect upon foreign aflairs from that which lately excited an almost hope less apprehension on the European mar kets From quarters responsible for all that apprehension there comes an open expression ex-pression of desire for a revision of rela tions in the interest of peace It is true it may prove obstacles stand between the desire de-sire and the achievement but so much as has transpired in these initiatory efforts warrants a most hopeful attitude in the financial markets of Europe and America At Ifomo also current influences are favorable favor-able to the stock market The condition of the bank reserves is conducive to continued contin-ued ease in money The trade of the coun try at large Is beginning to show a more distinct response to the stimulus coming from our abundant harvest The earnings of the railroads are still gaining upon those of last year and that upon the net as well BS the gross business These several fac tors are producing a firmer feeling among holders of stocks and as the market is A largely oversold the purchases of the bears to cover short contracts ale likely to have n favorable effect on prices at an early date Under these circumstances it would seem safe to buy good stocks on the reactions for i early favorable developments S Haskin Co say We think the present pres-ent basis of values is conservative j All others agree that the financial out t look is most satisfactory