The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1875-05-27
4 Hopeful Sy mptOm.
.,rom the Y. Y. Rnlletin

+ rom the ~. j bulltNlI.
The loan market has recently devel-
oped much more decided desire To en-
ploy capital than has been apparent for
many months past. Lenders, while still
careful do not show the excessive caution
and the willingness to keep their means
absolutely idle rather than take the av-
erage risks that they have exhibited ever
since the panic And ii seems quite rca-
sonable to expect that such Il change
should come over the disposition of the
lending class. They have seen mercan-
tile borrowers subjected to twenty months
of the most trying pressure experienced
within the last forty years; prices have
shrunk during this period on an
average fully % per cent; losses have
taken the place of ordinary profits, and
the limitation OF credit has compelled Il
LARGE amount OF liquidation; and yet this
test has been endured with degree OF
immunity from failures which remarka-
ably demonstrates the strength of our
commercial community. This thorough
probing of the mercantile class has very
naturally convinced intelligent lenders
that our merchants are rs deserving of
credit as they ever were, and that dis
counts are not Al present attended with
ANY more risk than in ordinary times :;
and hence they show disposition to
take class Of payer which they have
for months entirely discarded.
Then, again, the better class of Sccuri-
ties have sdvanced TO such extraordinary
figures that there is an indiSposltion TO in.
vest any important further amounts in
and il is not improbable that a certain
them; class of holders ofsueh investments
will begin TO sell them in order to realize
the profit upon the principal resulting
from the rise in price, for the purpose Of
employing tho proceeds in some other
way. Capitalists are growing tired of
the small earnings their loans have made
during late months; and with view
10 letting better rates they are scanning
closely the range Of investments which
they have discarded since the panic, and
are beginning to take such Of them as
appear the most inviting. This is TO be
REGARDED AS the initiation Of a process of
recovery in the loan market which will
gradually progress until il admits into
the range of business large class of
borrowers who have been long shut out
from loan facilities. The success with
which several corporate and city loans
have been placed on the market within
the last few weeks indicates decided re-
covery OF confidence in that class of IN.
onstrates that companies in good stand
ing can borrow easily and on more Ia
vorabe terms than has been possible for
many years past, We should not be sur
prised TO see succession of corporate
loans placed on the market.
This increased disposition to lend We
regard as the most conclusive promise of
An early recovery in business that has
yet appeared. When borrow
ing becomes easier, the trans
action of business is facilitated;
things, in the way of production and
trade, become possible that were impos-
.ibe before; the favorable conditions to
production arising from lower wages and
lower prices of land, buildings machin-
ery and raw materials lead to new ell
terprises; and when the greater readi-
ness to lend has thus stimulated business,
the improvement in trade reacts tavora-
bly, on the loan market, and at the same
time strengthening the confidence of
lenders and enabling them to obtain
better rates upon their investments We
think these forcshadowiugs from the.
present condition of tho loan market
will he confirmed by the judgment Of
those most familiar with its present con-
dition and workings.