The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-05-28
Tna RAILROADS and the Crops.

InG khNAAATgsANAN |
There was a marksd advance last weak
In the shares Of the Cleveland & Pitts
burgh railroad, ranging all the way from
rs TO 50. There was also an advance oil
three or four per cent in the Fl Wayne
shates. Both Of these roads are guGran-
tsed by the Pennsylvania Central, and as
the earnings Of the roads Of that cOmpa'
ny, east Of Pittsburgh and Erie, for the
month Of April, show a net increase oil
$685. 4l over April, 1877, and the lines
west o. Pittsburgh q net gain oil
s827, $50 for the same period, 1t Is not
strange that the shares named should I'D.
vance. The Odly reason why they do not
sell higher especially the G. I. shares, is
because Of the competition to which that
road will shortly be subjected when the
Pittsburgh & Cleveland and the Cleye-
land & Tuscarawas Valley roads are
completed, and the fear that the Pennsyl.
yania Central will End a way to rid herself
Of the lease. Il is understood, however,
that the P~ennsylyania Central people are
large owners Of the G. & P. shares, and
have confidence in the lease being carried
out in good faith. It is predicted that
the stock will go higher than its present
figures, and regain some Of its old time
prominence.
It will be noted that there is also an
advance in the shares Of the so.called
Granger roads, otherwise known as the
great grain carrying roads Of the West.
The movement OF crops at the leading
Western cities is on a scale never before
reached. The receipts and shipments OF
wheat and corn at Chicago and Mil.
waukee on Thursday reached sls,5T
bushels, and the amount Friday wa near
ly equal. The receipts Of grain at Chi
cagO for three days Of last week reached
the enormous total Of 3,Sl7,s75 bushels,
against s77,S5O bushels for the cores
poudiug time Of last year, showing an in.
crease this year of 2,44o,525 bushels.
These large receipts are telling fav0rably
on the traffic on the roads leading into
Chicago. The earnings for the Chicago
& Northwestern Road for the third week
in May show q gain Of 100000, the In
crease for the las. day Of the week being
$4,000.
1t twill be noticed bya London dispatch
yesterday that confidence in American
railroad securities Is increasing. The
shares Of the Illinois Central road, which
are largely held in England, have adj
vanced in that market Of late. Pennsyl-
yania Central has also advanced there to
cot.
There seems TO be q better feeling in
regard to the Baltimore and Ohio road,
although dealings in It's shares are on a
small scale as yet in the Baltimore mar
ket, and they are now selling as low as 70.
The road is carrying a large amount OF
grain from Chicago, and it is
thought has seen the worst in the way
Of depression. The stock has certainly
had a fearful decline from $50 to its
present figures, but not much greater
than that OF lis rival, the Pennsylvania
Central, which at one time sold at 90 and
now sells at 20.
In this connection we may refer to the
fact that We are informed that the B. &
o. Company are building 25 refrigerator
cars for the purpose Of transporting fresh
meats, vegetables and fruits over their
line Of road during the coming summer.
These are the first cars Of this kind ever
built by this road.
It would seem az II grain carrying was
to be the main business Of the railroads
for some time to come, judging by the
crop reports that are coming in. Eli Per-
kins writes to the Chicago Tribune Of
Saturday that he has personally seen as
much Of the growing crop as any one
person in the United States" and that he
will stake his journalistic reputation that
"there ia 60 per cent more wheat grow
ing in the United States than ever be-
FORE" We quote from his letter as fol.
lows:
Now, what will be the effect OF this
magnificent wheat crop?
Wheat will go down 10 80 cents in
Iowa, to 65 in Chicago, to so in New
York, and 10 80 In Liverpool. War will
add 20 cents to these figures, but with
peace my prophecy will prove true. Let
the Chicago grain man remember the
figures.
OWherei Is wheat damaged?
l find that some winter wheat in South
eru Illinois, Indiana and Kentucky is a
little damaged by rust, and a few fields
will be completely destroyed, but l have
not seen a damaged piece Of wheat in
Northern Illinois, in Wisconsin, MINES.
ota, Iowa or Nebraska. An immense
wheat crop is growing this spring in
Western Nebraska aud In Dakota on
lands never before plowed. Thousands
OF wheat spectators have come into the
Far West and plo6ed up 80 lands and
put them into wheat.