The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-10-22
The nnernlntI,nInfnnfn.

The grain rnarketin Chicago has recov
cred It's tone, and yesterdays quotations
for wheat, corn and pork were again up tc
about the top notch thus far reached. The
same remark Is true Of the Wall street
Quotations for stocks. The quotations
reached yesterday for some stocks were
the highest Of the present boom, aud the
volume Of sales was immense. This swell.
ling tide Of thigh prices results from the
immense shipments Of produce abroad,
and the confidence that these shipments
will continue, and the heavy receipts oil
gold IN payment Of them. The argument
Is that the country is on the eve Of an era
Of unparalleled development, and that the
prices of the day, while apparently high,
will look more reasonable q few months
hence. Take, for instance, Northern Pa.
cific.railroad stock, some shares Of which
were put up at public sale. here in Ohio
county only few months ago, and scarce.
ly considered a valuable asset by the es.
tate offering them, yet today they are
selling at IS, and promises to go still
higher. The argument Is that the true
value ot,the country through which the
Northern Pacific road passes has never
been appreciated until lately. 1t is
great wheat belt, and the prospect is that
tens Of thousands OF settlers from the
north Of Europe wiltgo there in the next
year or two. They are already going
there, and the road Is already well on It's
way to its far Western terminus.
1t is estimated that within about two
months there has been an imitation by
speculation amounting to $500, ,OO0, 900 in
stocks and'bonds, s4S5, 100000 in bread
stulIs, and s270j 100000 in hogs and pro-
making total Of $l,0l1 600 900,
and previously within a -yeat about
s2Oo,OOO,oOO, making an aggregate of ST.
9ll 1000 for the past year to these pro.
ducts.
There is a heavy contest going on in
Chicago between the bulls and the bears
in wheat The latter sold out their hold.
ings some time ago, when wheat had
reached a dollar and q dollar and ten
cents, and ever since that time they have
been trying to break prices down, but
without avail thus far. The fact is the
foreign adVices are too much for the bears.
They indicate an immense demand from
this country, and, as prospects now look,
there is no probability Of a very serious,
break in the present prices for bread.
stuffs. Whether prices will go materially
higher is another question. They are
certainly well up in the no!ches now, and
may require a good deal Of steam to force
them higher. Prudent men will OF course
not risk much on them.
The are symptoms that real estate will
begin to receive attention at the hands of
the public before a great while. The
volume OF money is SO large, and is SO Ger.
tatnly destined to grow larger, that it is
hard to tell how fast and how far the
present speculative mania will extend it.
self. The dreams of the Greenbacken
seem destined to be realized by the re-
sumption of specie payments. Like
Baalam otold, they opened their mouths
to imprecate curses upon specie payments,
but, behold; in spite of themselves, they
are obliged to cry out chow goodly are
thY,tepts o Jacob! and thy tabernacles o
Israel"