Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1891-10-02
Clinch Valley News.
FRIDAY, OCT. 9, 1891.
FRIDAY,
THE FINANCIAL WORLD.

Thursday the transactions OH the
Stock Exchange exceeded each
day 500, 600 shares; OH Friday they
rose to the height of as, 900 shares,
and in the brief two hours OF bust.
ness Saturday they were $4,000
shares. That tells where the pub.
lie is. No such volunlo of business
hos ever been done in Wall Street
without the public being in the
market. The professional element
is as small corps OF regulars III the
great army OF volunteers. The
public is always a bull, therefore it
&C g. rs al omnlvorous buyer. 1t
f .hwn as ~ natural consequence
that prices have been rising under
this great buying, and they are ut
Saturdays quotations tho highest
of the year. They have risen so
that the average trader feels as if
the rush OF business took his
breath away. He, as % profession
al, only just recovering from the
depressed feelings caused By IL
market which for months deiied
all efforts to intuse the slightest
degree of animation into it, is not
whooping and clamoring for stocks.
Iio is too much aStonished, and
half scared rs we'll. 1t is the great
army of outsiders, led by few OF
the bol.lest and most astutc of fl
nancicrs, WHO are doing the work
They buy with confidence, on con
Victions based on now established
facts.
Tho Hpocial buying impulse the
past week WAS given by the wealth
CT. Ten days ago it was still an
open question whether the corn
crop would come through safe. A
very largo percentage OF it was
late. Had last Sunday Gnd Mon
day nights brought hard lrosts,
through the corn belt, the market
would have simply gone to pieces.
1t was in - condition to be turnc,,
either way. Instead Of FROST {;
warm wave developed itself, and
the last ripening touch was given
to the crop. 1t is made beyond
peradvcntura. The worst that
could happen now would amor.i
to no moro than dropping few
leaves from q great tree. When
thin became manifest the mark ct
role And broadened ont an indi.
Gated by tho figures above. 4 bull
movement with such basis has
the most solid OF foundations. 1t
stands on the ground. Indeed
tho solidity or tho advance, from
the day that the ukase of the Elm.
peror of Russia set q match to the
speculative elements of two CONT
nOnts, has boon it's characteristic
feature.
1t is we'll nometimea to get away
from the immediate scene of activ,
ity, and to one who has for come
tame pact heen watching the mar
hot's movement from tho distant
parts Of Canada, this solitlity was
specially striking. When prices
were put MP, they stayed up. And
even on the bleak sides Of the
Canadian mountains there was "a
BIO seen reason for it, for what.
ever had been planted on these
mountain farms this year had
thrivcn inervellously. The situa.
ton is indeed phenomenal in re.
spect to this continent and Europe.
On us nature has exhausted her
bounty, and to an equal degree she
has denied it to the older CONT.
nent. There has been seen moth.
Ing like it in q generation.
Who buys New York Central ut
Ill Not tho average room trader
nor the customary tape holder.
The buying Of stocks at what
seems to them high prices, is done
by financlers here and in Europe
on calculations based OH what
must result To the railroads from
the food situation OF the world
They calculate that, on a couserva
two estimate, we have raised this
year: OF corn, 2,1OO millions Of
bushels; of wheat, $50 millions, OF
oats, 750 millions: Of au otho,