The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-02-11

ton has laid a broad basis for a general
recovery Of confidence; an element that
has been wanting for the past four years,
which we have observed by tho many
idle furnaces, mills sand factories, and the
lowest prices for nails, steel rails and pig
iron for number Of years,
The year 1889 opens with cheering
hopes. Our crops during the past year
have been abundant; the prospects OF
an increased foreign demand for our sur
plus grain and provisions at advanced
prices gives the farmers renewed energy,
We must look forward to hot and dry
summer this year, as We are not yet be-
yond the period for q general drought,
however, with fair early crops, business
and prices will show considerable i'm
proyement in the spring months,
We are at the beginning Of prosper
Gus period, and the outlook Is for q de-
cided improvement and advance in the
prices OF iron, railroad stocks, and in all
manufactured commodities, Whenever
our manufacturers are prosperous every
industrial class Is prosperous,
pTedictthat the prices Of iron will nd.
vance, and the average price for the year
1880 will be higher than the average for
1888; and also predict that there will
be wonderful advance in prices for iron,
stocks and all products and commodities
In 1900; all business will be prosperous,
1t will be year OF good crops and the
boom year In this period OF activity,
In the beginning OF the year 1901 spec.
ulation will be ut its height-a great
business inilation-pig iron fifty dollars
per ton In the markets OF our country,
predict that there will be panic In
the year 1891, The oYer-trading and
general initiation ofbusiness and expan'
sion OF credit and confidence will pro-
duCe the result. The panic probably
will be brought about by the effects Of
heavy rain,falls aud floods, or by the coli
lapse OF some large financial business
firm.
This panic will be commercial and
financial revulsion, and will be followed
by long down sweep Of prices
SAMUEL BENNER,
Apropos to the above prophecy, we
may add that there seems to be both ia
this city and Pittsburgh feeling in iron
circles that prices are at this time at
their lowest ebb and that the next few
weeks will sec not only an upward
movement in values but decided in
crease in the activity and volume Of
trade. 1t Is just ten years ago-in 1870
when the season opened, as this one has,
with low prices and a sluggish condition,
but as tho year advanced prices moved
up~and-activity increased, Pig iron,
nails and all iron goods grew stronger
each month, anu finally in the last six
months u regular boom set in which did
not stop until iron and nails had about
trebled in price. That ''history repeats
itself" is well.known adage, and hence
there is a disposition, among optimists
at least, to accept Benner's forecast, as
above given, with considerable con-
lidence.
1t must be confessed Of course, but 1t
is hard at this time to conceive Of a con
dition OF things that will cause pig iron
to rise to $50 per ton. But who knows
what may follow, the formation OF the
great trust, or warehouse storage scheme,
now forming, details Of which are given
in the Iron Age OF January 3lst. Then
too, We must recall the recent warning
remark Of IA British Minister, that the
greatest war Of history is approaching
It's near outbreak.
A new era in some respects is upon
us. The formation OF great railroad
iron.clad agreement, which follows the
lines Of the Interstate Commerce act,
and provides comprehensively and ex-
haustively for the most straight laced
observance OF uniform rates, will UNI
doubtedly impart value to railroad Sc
curities, such as Benner seems to con-
template II the compact holds, and
there is at least a respectable weight OF
opinion that It's penalties arc so severe,
saying nothing OF the question OF self
interest involved that it will hold.
The plethora OF money in this coun-
try at present is large and increasing.
There is any amount Of capital availa.
BILE for enterprises that promise fairly
well. 1t Is not in tho nature Of things
to let it lie idle. There never was in any
country such multitude OF bold and
pushing capitalists as arc to be found in
this country to-day. They are here from
all parts OF the world because they be-
lieve that this is of all other countries
their most promising field.
1t must be TINT these facts, data and
speculations constitute the foundation
on which Benner's forecast depends for
fulflllment.