The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-03-17

"Then you consider the construction Of
new roads practically at standstilI for The
PRESENT." ''->
Few railroads will be built this year
There IS general suspension Of this work
all over the country. am connected with
q dozen oil these corporations, aud in each
instance We have wound up the work for The
present alter settling with the different con.
tractors. l don't think they will 20 on
again Tor year or two, perhaps it will be
even longer. am ready 70 20 on when |
am satisfied that it will pay, but am up.
alterably opposed 10 building a mile
OF a railroad when the business will moi
iully justify II, There is an unerring law
OF progress that fully one half Of all the
new railroad enterprises are swept away
ana anotner set Of proprieters comes in 70
taKe Their places. The history OF three
lourths OF the roads built in the United
States shows that the original promoters Of
new roads will be the investors and will
take stocks Of the finished and already
paying roads at better prices than have re-
Gently prevailed.
CAUSES OF THE RECENT BREAK.
ITO what causes do you attribute the re.
cent downward tendency in all railroad
ut is well known that we had a pretty
fuH head Of speculative steam on previous
to the assassination OF President Garteld
last July. That caused the tirst check,
From the I'd Of July down to the beginning
OF the present year there has been a
steady decline with the usual fluctuations
Ihese fluctuations have been owing, in
part, 70 oyer-speculation aud overconstruc-
tlon oil new railroads. The general decline
was actuated blythe short crops and dam
aging ireshStI, beginning early in October
and running through that that month and
November. When we reached the begin.
ming OF the new year financial
troubles broke out in France and
spread all over Europe. The rates
OF interest rose from g to s and 10
per cent, which was very excessive for such
old and conservative countries as France.
England, Austria, GOmany aud Holland,
the money centres Of tho world. OF course
IN that panic heavy losses followed and
enormous damage was done. These
troubles in Europe contributed 10 our de.
f'SStSa. ~ nChdluk DuCk kOOu 1nu0y OIL
our stocks and bonds and throwing them
on our market at time when there was a
decreased demand.
l am fully convinced now, however, that
We have turned the coruer ia the down.
ward career Of the market, and that from
TINS time on the advance swill continue on
all completed roads that deserved.
WHY GOULD SHOWED Ills HAND.
In concluding the interview, Sage refer.
red TO the display OF stock made BY Gould,
1t would have been fiasco il | hadn't in.
sisted on having packages opened, he said.
| knew the public had frequently accused
Mr. Gould Of sharp tricks, and when in.
sisted on seeing the contents OF these pack.
ages labelled to contain so many millions
each, Gould saw the point. When the
stock was exhibited, on which Gould had
never put his name, showing that he had
never used or transferred It, that settled
the matter beyond any possible question.
1t was a wise thing to do. Those stocks, II
put in the market, could be disposed Of for
cash in ten days, or thirty days at the out.
side, for $40, ,000, 900 or more. But the fact
that Mr. Gould has these stocks on hand
shows that he proposes to stand by them,
and Mr.. Vanderbilt is also protecting his
own stocks.