The Rugby gazette and east Tennessee news. (Rugby, Morgan Co., Tenn.) 1884-188?, 1884-09-20

farms, whose value to-day is just
two hundred and six millions of
dollars. Indiana has twenty millions
of acres whose value to-day is over
SIX hundred and thirty five millions.
Texas with her thirty-six millions OF
acres only reaches a valuation of
one hundred and seventy millions.
The States of Georgia, North
Carolina, South Carolina, Alabama,
Mississippi and Arkansas have an
average of seventy-seven per cent,
Of their population engaged in
agriculture, and their farm workers
receive but one hundred and sixty
dollars average per capita and the
value of their lands is deprecated
accordingly. In the State of New
York, where agriculture and industry
go hand i'll hand, her twenty-three
million acres of farm land are val
ued at more than one billion of
dollars. What a revelation this
is.
Let it not be lost upon us. We
must encourage every branch of IN
dustry. We must invite skilled la
bor among US to open up and develop
our resources. We must expand the
scope Of our agricultural policy and
throw into it the great industrial
clement which will bring us popula-
tion and give us wealth.
We extract the following remarks
on the stock and share market from
the September report of Messrs. PM
u Vaughan & Co., Stock Exchange,
London:
There is no appreciable change in
the money market, the supply con-
tlnulng in excess Of the require
ments, as both Commercial and
Stock Exchange are becoming very
restricted Ill consequence OF the
continued depression in trade, and
the absence Of speculation. CotOUiui
Securities continue to improve, and
Home Rath0uy DeJsutwe' uad CUR
m1teed StOchs have also greatly i'm
proved i'll value, and becoming 50
scarce as to make selection useless.
Eug'ish Ruilways show some increase
in strength. Cunudian Securities
nave suffered from the prevailing
inactivity. There us been some re-
newal of speculation i'll Merlc0a
Ratls, which are again depressed
by the continued falling off i'll the
receipts. The changes iii Ausericm
Securities are mostly adverse, though
at one time there was "a considerable
Improvement both in speculative
and dividend paying Stocks.
Neither of these are so heavily
oversold as they were, and back
variations have mostly run off.
There is not very hopeful feeling
about the immediate future as trade
is admittedly bad in America as
we'll as here, and is scarcely likely
to show any active revival this year,
but possibly when the Presidential
election is over in November, a bet
ter state of things will set in.
In the meantime the market is
mainly in the hands of professional
spectators who manipulate New
York prices to their own ends.
They are undoubtedly pretty full of
stock and their recent attempts to
unload have broken down prices.
They are, however, powerful enough
to hold on until better times. Mean
while the ordinary operators must
use great caution not to be caught
by the violent fluctuations which
may be looked for. The dividend
prospect on New York Central and
other leading lines are rather
gloomy and past rates can scarcely
he maintained, especially in the face
of the present keen competition i'll
rates. Pennsylvanias keep steady,
and the more Southern Lines are
not doing SO badly. Wabash have
suffered from the recent expose of
its deplorable financial position.
Denverson the other hand arefirmer,
on "a well-Supported scheme of
rernnst1nirtinn plans In this di-