Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-11-13
BULLISH.
Tie Present Course of Wall Strest
Speculation.
THE SUN UPON THE TONE AND TEMPER
Of Recent 0perations-A Steady and On
ward Movement by All the Great
Bulls Believed to Now be
in Progress.

New YORK, November 12.--Th6 Sun of
today says: The prevailing opinion IN
Wall street is that the temper and tone Of
stock speculation have completely changed
and that steady bull movement has been
inaugurated. There can be no question
that, since the recent corners in Michigan
Central, Jersey Central and Northern Pa
cifc preferred, tendency TO buy stocks hs,
been stronger than
The Tendency 10 Sell Them.
But to conclude from this that q solid
and general upward movement has been
established is By no means reasonable. The
rise originated from artificial causes and
was carried on by artificial means. The
market was heavily oyersold, and nothing
was easier than to twist the cliqued stocks.
This was very successfully accomplished
by break Of big manipulators, and the
rush of the entrapped bears to free them.
selves did the rest.
As matter Of course,
The Whole Speculative List
felt the impulse thus suddenly given TO the
market, and sympathetic advance spread
itself over all the active securities. The
movement was greatly assisted by the
declaration of a guarantee OF the Canadian
Pacific dividend, by uncommonly favor
bic statements in regard to the business of
the Pacific Mail, aud by the rumors of a
projected extra dividend on the North
western stocks.
In such circumstances prices went up
themselves. Not OILY were the bears anx
ious to
Buy in Their Shorts
as fast as they could, but all the small
traders of the board.room jumped in to
BUY right and left. A manipulation start.
I'd in circumstances 50 favorable could not
fail, and prices closci on Saturday at the
highest point they have reached for con
time past
The important question, however comes
now: How is this movement 10 be main
tanned when the short interest has been
and when there is
Nobody TO Buy Stocks
except the manipuators themselves and
their following, consisting OF room traders |
The bona iide investors, and what Wall |
street calls the "outside public" (msanng |
business and professional men coming in |
for flyer, do not as yet appear in the
market, and will not appear till confidence |
is fully restored; and that will take weeks. |
possibly months Of time. They have all |
Steu SOOuS
Still Under Medical Treatment.
jay Gould seems fully to comprehend
his for he does not attempt to bull even |
MS own stocks at present, although he |
speaks with great confidence OF the future.
A few days ago. in conversation with q
'ery influential gentleman, whom he
Knew to have nothing to do with Wall
street speculation, he said: Iexpect to see
great imnroyempnt in all branch -, |
business early next year. T.U setoeii'
If the years accounts will willr,o-,a,u.
.on,Inue IN Keer --,ngs Incer'ah'
md there aro - course some more failures
anticipated between now and ane the close .Sa %.
binps greatly improved. There are over
~N . :ii- IN tho Trust Com
aSpyteS. This mass of money awaits a /
tablshed. The rsffroaus s-urS-s..-..s.ls-as.-f
,ood business and have no doubt that |
heir securities will soon be better and ap-
preCiated. |