The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-11-19
The Speculation In wall street.


As the season rolls on the financial
pyEotechnical display on Change in
creases in brilliancy. During, the whole
Of the past week there was continuous
fight Of rockets in the shape Of prices,
which mounted higher and higher, and
never mothers son OF the vast hordes of
spectators thought Of, or cared for, the
danger suggested by the hackneyed smile
OF the falling stick. The weeks transac-
tons exceeded 1000, 900 shares, an amount
unparalleled in the previous history OF the
Stock Exchange. The advance in values
was in keeping, being marked, like the dc.
grees on thermometer, by figures rang.
ing between zero and 25 per cent. Ex.
cept in the case OF new conner upon the
Board list-when the whole market went
daft and rushed after it like mob follow.
ing travelling circus-as a general rule
the better the stock the less was the rise,
For instance, in such standard proper.
ties as New York and New Haven, the
New Jersey United Railroads, Burlington
and Quincy, Panama, New York Central,
Chicago and Alton, Fort Wayne, Pitts.
burgh, the granger preferred shares, and
a score or so more Of kindred dividend
payers, the rise was limited to about 9 per
cent. or less, while in such terra ineoqnitaS
as Oregon Navigation, st. Paul and Sioux
City, Nashville and Chattanooga, Lafay-
cite, Bloomington and Muncie, Missouri
Pacific, Chesapeake and Ohio, and the
San Franchises, the advance ranged any.
where beyond 10 and % points. That the
merits of these properties should have
been so suddenly discovered after having
been hid away, as 1t were, like lights under
q bushel, is one of those mysterious deyel.
opments which the present craze has
brought forth. How long the light will
"hold out to burn" without being blown
out by the side wind OF some disastrous
reaction Is q question which is lust
now exercising the minds OF conservative
Spectators. Should q stampede from any
cause occur with everybody wanting 10
sell and nobody wanting to buy the whole
range Of fanCies would relapse into total
darkness as precipitately as they have
emerged from il, It is to DO confessed,
however, that there are moro elements OF
support to tho present speculation, wild as
1t appears, than has been the case under
similar circumstances heretofore. Money
In the future is likely to be sufficiently
easy. The administration, In the face OF q
Presidential campaign, Apnot afford 10
have 1t otherwise II they desire to make
things pleasant for their constituents, Our.
rency will shortly be returning from the
West and gold Is arriving and being ship,
ped in large amounts from abroad, nearly
81, 900, 900 being received last week, while
s., $780, 900 are on the way from Havre.
The greatest safeguard against panic
however, rests in the fact that, with the
whole nation specializing in Wall street
stocks are widely distributed, being either
bought out and out or covered by liberia
margins. In word, the stock market Il
out Of the hands Of local spectators, who
no longer possess the power TO mould it t
suit their plans. 1t would appear, there
fore, that so long as the vast body Of spec
ulators remain scattered through town
aud cities and rural hamlets, as It were Ii
the condition OF so many detached arm
and limbs, and consequently not likely t
take flight q, nlq&Ss, the danger Of panlt
/ Is greatly lessened. II this fact, however
should fail to have the force II appears /,
have and . panip should set In lotylth
standing, well AFTER that the deluge.