The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-01-11

'dcnds Is attended with an active dc.
mand Tor bonds and ordlvidend.payins
stocksj aud those purchases have given
a stimulus to the latent feeling in favor
oi'hiEher prices and developed an active
speculative movement, underS which
prices have advanced throughout tho
list. Tho transactions on tho exchange
have doubled the volume prevailln 1
during the quiet OF several preceding
weeks, and symptoms seem to favor the
preponderant opinion that n campaign
Of unusual activity has set in which Is
likely 10 be continued throughout tho
year.
Thus far the buying has como main.
y from investors and the class Of
largo operators who are Immediately
Interested Ia railroad and other corpo.
rate properties, DESTROYS OF creating a
market for disposinG OF Il portion OF
their holdings. Speculative ordera from
local "outsiders' and from tho interior,
however, are beginning to come in, but
have not yct become conspicuously
large; though some exception to this
rule must be made in the case OF Chi.
cago operators, who rank among the
most sanGuine bulls" and us tho latter
stand nearest to the section most i'm.
mediately benefited by lust years har.
vest and should therefore DO good
judges OF tho railroad prospects for
1892, this fact should have some weight
IN estimating the future course OF tho
market.
Opinions differ rs 10 the results OF
the past years business OF the country;
some maintaining that neither manu-.
facturors nor merchants have made
their usual profits, while others claim
that the quiet Of business has been due
mainly 10 conservatism following the
crisis OF 1890, and that, after all, the
business OF 1891 has left nearly m aver.
age rate OF profit.
1t is especially important to keep in
view the TACT that n new and important
group OF stocks will from this time come
into prominence through tho forward.
ing OF tho corn crop. The department
OF agriculture estimates the out.turn Of
that crop at 2,0G0, 100000 bushels, which
is tho largest but ono ever realized. 1t
is tho last crop to come into the market,
and is now beginning to be moved. The
securities OF the roads dependent upon
this grain have, in degree, sympatll-
lied with the improvement in the
finances OF the roads serving the wheat
belt; but there is still liberal margin
for further advance to come from the
future reports Of actual increase of
traffic; and this lengthening OF the list
OF roads showing large increases can
hardly fail to have the effect OF advanc.
ing prices later.
1t is quite possible that our years ex-
port OF wheat and flour may reach 20O,-
100000 bushels, and our corn shipments
may show Il similar ratio OF increase.
This means very important increase
in the grain tonnage OF the trunk roads
connecting with tho west; and, at the
same time, the full occupation OF the
rolling stock OF thoscro in calculated
to maintain rates OF freight. The home
situation therefore includes clements
calculated to stimulate future advance
in stocks beyond what has been SO far
realized; but, as the present tone OF tho
market is conservativcly publish"
rather than highly sanguine, prudent
operators are likely 10 realize upon the
profits OF the late advance in the hope
OF buying back upon reactions; and we
commend that policy for the moment to
our friends. HENRY CLEws.