Courier Democrat. (Langdon, N.D.) 1891-1920, 1891-08-27
A FAVORABLE CHANGE.

For weeks past, notwithstanding the
favorable outlook for the agricultural
communities the tendency of every
thing in Wall Street has been bearish,
no good reports could be believed, and
every rumor of misfortune was magni-
fed to the greatest extent possible. A
change for the better seems about to
take place. The New York Stakeholder
OF Thursday has the following editorial
comments:
The process OF speculative evolution
is under way, and the resultant develop.
ment will be bull market It may be
slow, but all controlling influences are
healthful, and the ultimate outcome will
bountifully reward patient confidence
In our humble Judgment the oppor.,
tunities of decade are now presented
to tn speculative and investment pub
lie Those who hold good stocks should
tighten their grip On them; those who
have money, but no stocks. should ex-
change the one for the other.
The bull sentiment has not vet been
aroused, but is is turned towards Wall
street, and will come later with daily in
creasing volume and force. The bear
sentiment is dying out, and whatever
part OF it may continue to strive against
the inevitable, will be killed the next
few months by natural conditions.
For long time the query has been.
where will bull market come from?''
The answer has been found at last, and
is: "Out of the ground" Every wheat
field in the country has contributed
bountifully to that end already. The
rye, the oat, the corn, the hay crops,
have about completed their answer to
the long pe"ding question; while corn,
the secondary grain yields, and all minor
products. furnish their fair share to the
general prosperity.
The three leading bull arguments set
forth in this column week ago Mon
day last, but which were not then oper-
alive in Wall Streets speculations, are
now asserting themselves They were:
Cd Heavy foreign demand for bread
stnffs; (2) bountiful crops; (3) enor-
nous traffic and profitable net results,
for the railroads
It is years since the firstnamed argu-
ment has been such pronounced
feature as it is today. Our export trade
is simply immense. Yesterday wheat
went up several cents bushel, vet by
2:15 p. m. 1,36O,0 bushels had been
taken for export at the Produce Ex-
change and outports
The more one looks at the wheat stu
alton here and abroad, the more one is
impressed with the great good fortune
with which the country is blessed. Crop
failures are general throughout the old
world. =
Indeed, it would seem as if this were
the only nation which will have cereals
enough to make large exports Even
Russia, an exporting country, will have,
none to spare, and already engagements
have been made for the shipment of
VII, at to the Baltic.
ssgsWe shall have 20e, 600, 900 bushels for
export, and will probably have q de-
mand for it all. It only remains to be
seen how the foreigners win pay for it.
No doubt they will give us good deal
of gold, That is one reason why we re-.
gard the foreign demand for bread-
stnffs as the first of bull arguments.
There WAS a change for the better in
Wall Street sentiment yesterday.
Stocks went up all through the LIST.
London was buyer and large lines Of
shorts were covered, recent ventures on:
that sideof the market having been'
made it Is now seen. 1t d 1oae.