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The Revival Of Confidence

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From Inter-Ocean Money Articlej September 29. During the past three weeks a very marked change for the better bas taken place in linancial circles in New York, which has to soine extent been feit ín all the great cities of the country. Capitalista are acquiring confidence in many sorts of enterprise in which three mouths ago they had none at all. They are getting tired of hoarding their money, and the investment demand for State, county, and city bonds, railroad and other corporation stocks and company bonds, is increasing. As instances of this : Last week the Central Railroad of New Jersey advertised one day last week in Philadelphia that it would sell $100,000 of its bouda and they were all taken before night. On the 27th the State authorities of New York awarded a loan of $2,000,000 of State bonds at 103 ; the aggregate of the bids was $9,500,000. The Lake Shore & Michigan Southern Eailway Company is also reported to have successfully negotiated a new loan of $8,000,000 in the last few days. It is noticed in Wall street now that outside orders for investments begin to come in, whereas for a year past they have been entirely withheld. It is beginning to be easy to get money for almost any legitímate enterprise now that will bear investigation. The depressing effect of the Granger movement on railroad stocks is beginning to disappear aa it becomes apparent that the nuinber of roads affeeted by it will be comparatively small. But even aside from this, it is believed with good mason that the whole granger movement is on the wane, and, while it has demonstrated to the railroads that it will not do for them to exaspérate the people, it is becoming more and more apparent that neither side can commit a wrong without havingits effects reflected on themselves. In this view of the csse stocks have begun to advance, and the probabilities seem in favor of greater activity and more confidence in all sorts of investmenta and industrial enterprises before long.


Old News
Michigan Argus