Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1882-09-24
A GLIMPSE AT TRADE.
A Smile of Prosperity Around the
Globe.
New York Business Men Sanguine About
the Fall Trade-The City Full of Liberal
Buyers-WaI Street-what Bank
er Says Of the Condition Of
Affairs.
FREIGHTeD TRAINS FOR THE WEST

full of Western dealers. buyers aIc saio
10 show an unusual degree OF hoerallty'
and large stocks are being iald IN IN amer
nation of the returns the farmers WILL re,
ceiye for their abundant crops. The isIi
trade has opened with energy, and the Dus.
mess demands are calling many citizens
home. The wholesale dealers report that
ss soon as the character of the crops was
settled they began to feel the influence OF
the consequent good feeling. and on tne
whole the month of August has been proht,
able. The forwarding of westoonnd
freight was never before so lively. Inc
cars going West are more heavily treighted
than in any former season, while the traffic
bitLerward is not 50 great as before. The
retailers are waiting for the moving oil the
crops. Ii is calculated that i'll the
Eastern Commercial Centres,
where there has been lull, that business
will be greatly increased, and in view oil
This expectation of tremendous western
hound business this fall, number OF man
uiacturers are accumulating stock. lhcy
aryue that otherwise they will not be pre-
nared for the rush. The business men here
argue now with force that this is going TO
he a great fall for business. A smile Oh
prosperity encircles the globe. The re-
ports from Russia, Germany, Austria,
France, Italy and Great Britain show that
the food production this year is probably
greater all over the globe than
ever before, and the only com,
pIsint comes from Spain. The
Northern hemisphere has never yielded
such a great harvest, and the usual report
of deficiency either in America or Ed
rope is not made this year. From this TACT
the deductions are that breadstuhS, pota-
toes and other edible roots will be cheaper
than eyer-before, that corn Will be cheap,
NAT
eral cost of living will be less, that the act
ual enhancement of the means OF the
working classes by reason Of the smaller
amount CT money needed to buy food will
make 4 demand for cotton, and that the
railroad lines will have an immense busl-
ness, taking goods West and carrying crops
East. 1t would seem from this fact that
The Wall street Market
ought to be jumping, but the truth is that
the prOsperitv has 20 some extent been dis
counted, and, moreover, at this season there
is a decrease in the volume OF money at the
banking centres, because of the active de-
mand for it, not only in the general bust
ness, but in the movement Of crops. There
is not much likelihood OF renewal of the
gold importationS which helped the mar
ket last year until much later i'll the year:
The whole of Wall street is on the bull
here is not much Of an advance to be ex.
pected in stocks. However, the best juig-
ment is that the list is purchase fora long
turn, and that it will prove most Ouoyant
as soon as it begins 10 feel the influence Of
the outside demand
Dropping INTO the office OF a leading
banker yesterday, | sought his views upon
the general outlook He sat in luNurI-
ously furnished Office at mahogany desk.
the pigeOn-hOles of which were stuffed
with memoranda and the top of which was
laden with books periodicals and docu-
ments, containing the freshest and latest
information, His methods in business are
most intelligent. lie is as quick as a steel
trap, and when he acts is just as decided.
In his large business, amounting to mil
lions year, he leaves all details OF the
machinery to trusted employees, and to
his junior partners HIS province Is to
catch
The Commercial Tone or the Country.
aud he spreads his sail or takes reef ac-
cOrdingly. When storm is approaching
he comes to anchor, so that he wilt run no
risks, but he keeps al hands ready. to put
out every stitch of canvass AS soon as a fair
breeze comes up. The net result is large
profits and few losses. He devotes his al
ternoons, after business hours. to studying
us sldlloliCS duu duIlluB W hShtu
as to the general tone OF business he said:
1T is excellent There is sound basis to
do business on now and do not see that
there is any probability of disaster | look
upon the state of affairs as having one
feature, that of safety. OfCOurse We haven't
that exciting stimulation OF gold imports
that We had in 1879 and 1850, but the
lack of tAat affects Wall street people most.
We are losing our exports and increasing
our imports 80 as to reverse the balance OF
trade. The increasing wealth and pOpula-
ton of our country are making demands
for comforts and luXures on the whole
world. Just now it is taking great deal
OF money TO move the crops, AMI Fortunate
~ We have got ii. This business always
causes great withdrawal OF money from
this market between August Is and October
Is. The contraction last year reached Si2,
100000 and it would have proved serious
but for the gold imports This year We are
not going to be aided by gold imports. but
care likely to have money for all wants.
although Wall street will have to wait until
the farmers get through. We cannot say
when
The Gold Imports
will be resumed We are in danger OF
over production, and keep closer watch
on that than anything else now. Our abll-
ity TO manufacture goods is very great. Ii
is a curious fact that our goods in that di.
reCtiOn, stands in the ratio of our increase
IN agricultural resources as high aS five to
| one. 1t is true to-day that there are more
goods made than sold, Notwithstanding the
heavy business that is being done by the
,ale OF goods 10 Western consumers. The
| fact is that the known stock of prints on
he market is 100000 pieces more than last
year. All kinds Of cotton goods are selling
hHInw n N rata nd . ha nlv
IN raw cotton has been large, as you know
AS our manufacturers have only our home
market to look TO because of the high tar
| IN, there is great danger Of gut in the
market. or course this has an unsettling
effect on trade. The great Alptation in
this country is to overdo everything"
as much money seeking Investment"
YES. In spite of the large sums that
| are being sent West, there is a great de-
| mand for investment Insurance com.
panies are buying up great blocks Of West.
ern bonds. Every water works loan put
| on the market is snatchcd up in hurry.
I and the demand for good securities is very
good, 1t is difficult nov to get a fair six
| per cent. bond at par"
docs capital show any new tendency"
More attention. think. is being given
to land.
English Capital
has started tide in this direction. After
all, what is there like it? 1t Is bound TO be
worth more in a long series OF years than
| anything else, and hundreds of men are
making investments for their children.
There is not S N disposition here to dip
into real estate as there is ont West. You
will observe that all speculative eras wind
| up with demand for real estate. l be-
lieve in the West it amounts TO a fever.
Rufus Hatch told me that he was astonished
! at the activity he saw along the line Of the
Northern Pacific road, and that in various
| parts of the West the excitement recalled
the activity of 1869 and 1870. 1 don't
think this is altogether health. Real
estate is last 10 go up aud first TO come
down. The farmers In this country
lave always held more land than they can
till. and why should they lock their CAPT
tai in it? But don't expect the setback
for years. Tue speculation seems to be
more active in northern latitudes, and it
eliminates just across the Canada border.
I Il l.. L l. L