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Show FOREIGN POLITICS AFFECTING U. S. MARKETS. In his weekly market review, ITcnry Clews, the New York financier, finan-cier, lays great stress upon an international view of the market. lie says in part: "As was to have been expected, our own market has this week participated in the general feeling of international financial unsst-tlement. unsst-tlement. Political affairs abroad have not, at least on the surface, shown increased strain. But an attitude of uneasiness has nevertheless neverthe-less been apparent in foreign banking circles, and it is not at all unnatural un-natural that this should spread to this side of the ocean, especially in view of the active sales of American securities br foreign holders that have taken place. As has been repeatedly" emphasized in these advices, the cable and the telegraph have converted all the great financial centers of the world into a single market, of which the various branches, such as London. New York, Paris, Berlin, Amsterdam, etc., act instantly in harmony. Any broad-minded view of financial conditions today must, therefore, be the international view; and we can hardly expect a strong and confident market in New York when the great financial interests in London and Paris are so obviously concerned over the political outlook. Taken altogether, the foreign situation is undoubtedly undoubt-edly better than a week ago, but underlj'ing conditions are so varied, so complex and so bound up with international dignity that it is fair to assume that a considerable pei'iod of continued unsettlement in financial circles is still among the immediate probabilities before harmony is finally restored. "At home we have had a number of unsettling influences that are peculiar to our own market. There has iri the first place been the usual seasonable nervousness in regard to the condition of the spring wheat and corn crops. Definite data will be available when the government issues its August crop report bn. Wednesday next. This statement will present the result of the government's investigations investiga-tions up to August 1, so that definite, official information will be at hand in regard to the extent of the recent damage to spring wheat and corn by the intense heat and drouth. Tho best information that I have been able to obtain suggests a rather substantial curtailment in the spring wheat prospects that were indicated a month ago; but the corn promise is still an excellent one, and it is well known that at this stage of its maturity hot weather is of incalculable benefit to corn. So far as cotton is concerned, the government on Wednesday furnished another report confirming its previous estimates that we arc to have u crop exceeding in volume any earlier years." |