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Real estate record and builders' guide: v. 53, no. 1347: January 6, 1894

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January 6, 1894 Record and Guide. __^ ESTABLISHED^ (i\ARPH21^^ 1868 WoteD to He^lEstoe.Building AR.crfiTECTui\E.HouseholdDEGO^ATiotl, Bi/si(/ess Atto Themes ofGej^eraL 1i^tef\esl PRICE, PER YEAR IN ADVANCE, SIX DOLLARS. Piililishcd ervrii Soliirdiiij. Telephone,......Corti.ankt ]:170 Commtmications should be addressed to C. W. SWEET, 14-10 Vest-y Strwt. •J. 1. LINDSET. Business Manager. Brooklyn Office, 276-282 Washington Stkket, OPP. PO.ST Okmce. ' Entered at the Post-office al New York. N 1'., as second-class matter.' Vol. LIII. JANUARY 6, 1894. No. 1,347 For additional BrooMyn matter, see Brooklyn Department immediately following New Jersey records {page 28). THERE is uiKloulitodly n l)Pttcr feeling in Wall Stieet, not brought about simply by tlie moderate ri.-ie in (luotation.s of the last few days, but because the year has opened witli nniny of the worst anticiiiatioiis and predietions unfuliilled. The fail¬ ures for the first week of the year have been many, but they have not includ'd the institutions ami huf;-e liouses that it was feared they would. Tlie evident disinclination of a large sec¬ tion of the Dennicratic members of the House to t.ike uii tlie Wilson Tariff Bill has raised the hope that the measure is doomed to fall a victim to the obstructive tactics of the minority. There i,s no doubt that could this be made a cer¬ tainty it would have a very beneficial intlueiKc on trade in general as well as on trading in securities. It would indeed look as if tlie Democratic party had r(^sf)lyed on hari kari if they pressed this measure in the face of a distressed C(nninunity that is longing tor some sort of respite from financial worry and trade disturbance, iu order that it may set to work to repair the damage it has suft'ered in the past year. How foreigners are affected by the reckless treat¬ ment of trade and finance in national aud state legislature, is shown by the figure ])ut out by the Bureau of Statistics, relating to the movement of securities between this country and Kurope, from which it appears that the net return movement haslieen in the neighborhood of a hundred millions of dollars in the conr.se of one year. Some railroad men are talking encouragingly on the prospects for business in the near future and here and there may be found cheerier manifestations in trade than were to be found a week ago. But the result on actual operations is yet very slight and in Wall street the change of feeling has not brought many customers to the commission brokers. The continued falling off in the earn¬ ings and the other unfortunate conditions of Missouri Pacific will subject the stock of that property most probably to bear attacks until it finds refuge in the hands of receivers as Atchison did, .and this will not be without its influence on the market, if the management cannot defeat the object of bear opi-rators. Taking one thing with another all that can be said is that there is a more cheerful feeling for the moment, but there have not been sufficient developments to make it safe to say how long this condition will last. IN England the financial condition appears to be clearing up somewhat. The opening year has proved that many fears are unfounded, and while there is consideriible prostration as a result of strikes, lockouts, foreign competition in various lines of trade (wherein the United States figures prominently in screws, carpets and shoes), aud the retarding influence of the financial condition of India, resulting from the continued uncer¬ tainty of the value of silver, there is a better feeling and pros¬ pect for 1894. The (London) Times exi)resses the opinion: That the cycle of depression whicli followed the Baring collapse of 1890 is now showing signs of exhaustion. In France the present is taken to be a fitting time to agitate the question of the conversion of the debt paying 4I3 per cent, and it is now tinder the consideration of the Minister of Finance, who is expected to announce a plan for that purpose shortly. Ou the Bourse the mid-winter settlement passed off satisfactorily. A bill has been introduced into the C'hamber of Deputies for the purpose, by a sliding scale of import duties, of fixing a minimum price for home grown wheat. Its proposer and the author of the anti-oi)tiou biU ought not to be kept asunder by so many miles of ocean. Business iu Germany is dull on every hand, with correspoudiug results iu the financial centre, Berlin. The losses consequent on the failure of Greece to meet its debt and interest engagements pressed heavily on Berlin, where some of the later Grecian loans were placed. There is talk of a move- menlrtoittdace the great powers to take united action against Greece .as the.y did against Turkey in ISKl, and previous to that against Egypt, in both of which instances the results were beneficial to the holders of the bonds. The Austrian Minister of Finance, in introdiuMng his budget recently, made a .statement that will be of interest to this country in view of