. Review of reviews and world's work. their own loans $21,000,000 in the fourweeks during which this foreign capital wascoming into the country. Finally, in March, the New York^oemandr ^f^^^sy niarket was helped by a mod-erate return of currency from the in-terior to the East, and by deposit of $10,000,000government funds with the national banks. -Ap-parently, the strain was relieved by these vari-ous expedients, and equilibrium restored. Thereremains, however, the test of the markets capa-city to absorb the new issues of s(Hurities ex-pected now to come upon it. Such applicationsfor capital a
. Review of reviews and world's work. their own loans $21,000,000 in the fourweeks during which this foreign capital wascoming into the country. Finally, in March, the New York^oemandr ^f^^^sy niarket was helped by a mod-erate return of currency from the in-terior to the East, and by deposit of $10,000,000government funds with the national banks. -Ap-parently, the strain was relieved by these vari-ous expedients, and equilibrium restored. Thereremains, however, the test of the markets capa-city to absorb the new issues of s(Hurities ex-pected now to come upon it. Such applicationsfor capital are always large at this time of year ;they are likely to run much above the averageduring 1906, however, from the fact that nu-merous borrowings, notably for railway improve-ment and extension purposes,were postponed lastautumn because of the tight money of $400,000,000 of such new issueshave already been announced in the New Yorkmarket. The very low prices brought at the 392 THE AMERICAN MONTHLY REJ/IEW OF REI^ Copyright, 1901, by F. Gutekunst, Pliiladelphia. PKESIDENT GEORGE V. BAER, OF THE PHILADELPHIA &HEADING RAILROAD. (Chairman of tlie anthracite operators in tlieir negotiationswith tlie mine workers.) New York City bond sale (.luring Pebniary wasone sign of the relation of supply of investmentcapital to demand for it. All this lends peculiarinterest to the question what the course -of themarkets will he when the heavy demand formoney from the harvest districts begins, a fewmonths from now. The problem is complicat-ed by the fact that, both in this country amiabroad, trade activity and industrial prosperitycontinue, with the normal absorption of capitalin such directions. The Strike ^Vlien our record closed for February Situation .. n 1 T ?, ? ? , in the a striKo 01 the bituminous mm(! work-Coal Fields. ^,|.g ^^^ believed l)y many to be in-evitable. The Indianapolis conference had failedto reach any agreement, and there was no pros-])ect of the reope
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