The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-12-04
THE GREATEST WEEK
rEr IN SPECULATIVE CIRCLES,
The Bank ClSarlpEs showan Unprecedented
InSreass-ThO Distributing Causes
The Iron Rsd Wool Markets
General business Review,

NEw YoRE, Dec, Especial telegrams
to Bradsiee!'s point to moderate gains In
the movement Of general merchandise
from Boston, New York, Baltimore, De-
troit, Milwaukee, st, Paul, Minneapolis,
New Orleans, and San Francisco. Thae
Is no material change at Philadelphia,
Pitsburgh, Cleveland, Louisville, Chi.
cago, st, Louis, and Kansas City, At
most points there Is widespread confidence
In future general trade, Notwithstanding q
noticeable check to movement Of goods
from first hands In textile and other
lines,
Total bank clearlngs this week at 80
cities show the unprecedented increase Of
S2B2 900 600 over last week, the total being
81 ,26S, ,740. 703, RVainst Si,0OB OO0 sos 4
week age, and 81 ,0O7, ,245 600 for the week
ending one year ago, Hsrs Is an increase
Of 20 percent over last week aud 10 over
like week last year, The weeks gain at
New York alone Is $lS4 100000, or
about 20 percent, due very largely
to heavy speculative transactions In rail-
way shares aud bonds, Petroleum and
Produce Exchange dealings. Increased
exports also had some influence. Phila.
delphlR's increase Of SO percent ia owing
to heavy gain In the volume OF railway
share speculation, noticeaDly Reading
stock, but that OF 30 percent at San Fran.
cisco must be explained by the outbreak
in the mining stock speculative fever, and
~ percent at Chicago largely to an In.
creased gain In grain, provisions, and rail.
road share speOulatlons. Domestic money
markets are easier, Mercantile collections
west and northwest are slow.
WILD SPECULATION.
The New York stock market this week
has been the scene oil wild speculation on
Reading, which made considerable ad.
vance on somewhat indefinite prospects
that q reorganization plan will be iavora.
BILE to the stockholders. Manipulation on
the largest scale seems to be at the bot
tom Of 1t. This gave a decided upward
impetus to the market. The weeks trans.
actions aggregated S,SSS,l36 shares,
against 2,504,l70 the preceding week,
,9O0,S22 the corresponding week In 1885.
Reading contributed about 100000
shares.
Bonds were firm, advancing in euticlps-
ton Of q large demand for Investment
after january l.
At the West and South the pig iron
market was quite active. Some southern
furnaces have loft the market, owing 10
the absence Of stocks and heavy orders
ahead.
During this weak wheat options at
Chicago and New York advanced 4l5lc,
and spot 4c per bushel on increasing
exports and speculation and small stocks
abroad. The renewed strength was quite
pronounced and the opinion gains ground
that permanent gain In wheat prices
has finally begun. Indian corn went lAc
higher, with small stocks and heavier de.
mand, and wheat flour with better inqui.
ry for export aud reduced production has
been marked up l5C per barrel.
OTHER FEATURES.
Dry goods at fras hands remain dull
and steady, except Glnghams tend up.
ward. Woolens on only firm prints are |
lower. Wool Is affected untavorably by
London sales, which are OF 5a1O percent
from previous auction prices. The Lou
isana sugar crop Is now estimated at 16O'
900 hogghesds, reduced from previous
estimates. There Is more activity
in hog markets. Speculative markets
are In sympathy with the upward
turn Of grain prices, owing TO the incrsas.
ing outside demand. Pork advanced 81
per barrel, and western steam lard TO per
pound on the week, On the whole, the
week was marked by the distinct increase
In speculative activity at all points.
The total number OF failures In tho
United States reported to Brddsiresi'S this
week was 23S, against 2O4 last week, 247
In the week one year ago. Tho total
from January l 10 date Is 0,400, against
l0,253 In 1885. Canada hGs had LILO fail
tres this year, against ], 1883 last year, and
1907 In 1884. :