The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-11-28
WALL STREET PROSPECTS.
Stocks Improving.-E Easier Money
Coming.

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From the New York Times
People who were so disheartened du-
ring the panic as TO imagine that prices
were going down to nothing, must have
been immensely aatonished at the changed
condition Of affairs during tho past two
weeks, and at the rapid recovery which
has taken place. When the change for
the better commenced there were q great
many prophets who predicted additional
disaster, and were not slow to assert that
no recovery could be permanent, and that
universal bankruptcy must issue. When.
ever q house failed or stock fell one per
cent the worst OF rumors prevailed, and
people held on to their money. But the
panic spent It's force, and when, for day
or two, there was o lull in failures, prices
began 10 recover slightly. A little encour.
aging nows from abroad and o lack Of de.
pressing intelligence at home brought
about such return Of confidence that
investors began to come into the market,
and money into the banks. There
has been no check TO the recovery, and
so lar as can be foreseen there
is not likely 10 be any serious draw
back until prices are at their natural lev
el. Very few operators are 80 daring as
TO attempt to check the advance while
everybody Is on the bull side, and secur-
tiles are selling for thirty per cent less
than their value. Money is growing easier
every day, and from present indications 1t
will soon be obtainGble on call at three
per cent per aunum. The banks gained
nearly $l,300,000 yesterday, and are
about 100000 above the twenty-five
per cent required by law. The action Of
the clearing house, which is to be taken
to-day on the new regulations, seems to
have no effect on the buoyancy Of the
market, the brokers not seeming TO care
whether the rules are adopted or not.
This Is In consequence Of assurances from
many Of the banks 10 the effect that the
usual accommodations will be extended
In the way OF certifying Of checks, no
matter what resolutions are passed by the
Clearing House Association. The oppo-
sition 10 the proposed measure Is very
strong, and II is not believed that It will
pass in It's present form. The banks oppos-
Ing the proposed rules call the advocates OF
the system strikers, and say that the latter
want 10 take part OF the profits which the
others get by prudent management, with.
out any Of the incident trouble and ex-
pense. Stock speculation yesterday was
brisk, and the volume Of business trans
acted at the Exchange was on the In
crease. Western Union was the chiei
speculative stock, and is spoken of as the
probable key oi the market for the winter
campaign. Rumor had 1t that the sudden
advance from 90 to 64 IN the morning was
brought about by the efforts Of the Viii
liam street clique to cover their heavy
line Of shorts, but that only few hun.
dered shares had been obtain ed when the
"bulls" got wind OF the move, and bid up
the price, so that the "bears" deferred
their purchases. A large operator, at the
Fifth Avenue Hotel last night, offered to
take 10000 shares at 63i, the closing price,
but no one was on hand ready to deal in
such an amount. Northwestern com.
mon became active during the day, with
large dealings, owing to the statement OF
earnings presented for the four months
ending Oct. l, 1878. These amounted to
81, ,356,000, and after paying all expenses
during the four months, would justify a
dividend Of eleven per cent upon both
classes Of stock. Owing to the favorable
exhibit, 1t Is thought not impr robable that
dividend payments will be resumed at an
early day. The Western railroads gen
orally are sharing large earnings, and the
probabilities of the dividends are in
creased by the TACT that all expenses since
the panic have been greatly reduced.
With the improvement IN the financial
situation, numerous announcements Of
of business by suspended
firms arc in order, and yesterday had It's
quota.