The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-03-05
lr,clnl cornronl.nce Of N!c Inl.,lLgcnc,,

gins TO show MI improved feeling aud
IN increase Of speculative interest. Tho
reasons arc various, and may DO briefly
stated ms follows:
|, There is m unmistakablo improve.
ment in tho tono and volume OF general
trade. That recovery has been coming
slowly and almost imporcoptibly ever
since tho opening OF tho year; but it is
now perceived to bG an established fact,
and find expression in Il diminution OF
complaint and in more confident feel.
ing and frcCr buying. This is conspicu.
ously tho case in tho dry goods trade,
which ~ largely representative OF most
other trades, and in which complaint
has been moat general. In that depart.
mGnt, prices have sOttlod down TO n re-
duCton averaging about l0al2 per cent,
compared with year ago, on cotton
goods, and 10 10 20 per cent on WOODEN
and worsted goods; and on this basis Of
prices distributors have evidently be.
come willing to buy. II is TO be remeln-
berod that the spring trade OF last year
was unusually active, and comparisons
with that period must mako allowances
for that TACT. The fall in prices, Of
course, reduces the volume OF business
when measured by values; but it is
doubtful II the volume, us estimated by
quantity, now shows an important do
cline from average years this being es-
pecially tho case with respect to cotton
goods, while the showing OIL wool fab
RIGS may be somewhat less favorable.
One noteworthy feature is that collec-
tons arc made with n promptness
which shows the financial condition Of
dealers 10 be healthy.
In the grocery trade, the conditions
arc about the same as in dry goods,
the jobbing sales being about equal in
quantity to those Of year ago, while
prices are l0al5 per cent lower, and col
lcctions reasonably satisfactory. In the
iron trade, largely increased business
could be done il there were greater har-
muny among manufacturers about
prices. which are being held up with IL
pcrsistency which the situation does
not seem TO justify, and this prevents
buyers OF railroad and structural iron
and steel from operating. These are
plain indications that the worst stage Of
tho business depression has gone BY,
and thatweh have certainly entered upon
4 period OF recovery which only needs
the end Of tariff legislation in order to
its developing into an established re-
covery in the general trade OF the coun.
try.
.. The preparations OF the Paris
| ,urso for giving American securities
al extensive representation upon its Of.
fetal "call" is having a distinctly hone.
jul effect. Certain preparations have
been made in order to specially adapt
our issues to the French market. 1t is
found necessary to devise some way OF
expressing the face inscription OF bonds
or stocks in the French Language; and.
to meet tho wants Of the numerous class
OF small French investors. bonds will
need to be issued in small dcnomina.
tons; but no difficulty will DO encoun,-
cred in meeting these requirements.
These prelimnarics being disposed OF,
buying on account OF this new market
may BIO expected; and those bes, nc
Quainted with this movement and with
the pecullarities OF French investors
anticipate that the demand will prove
important. The present exceptionally
low range OF prices certainly affords an
unusual inducement for French
iinanciers to buy onr stocks with view
TO distributing them at an advance
when the bourse provides the new facil.
tiles. The anticipation OF this new ole.
ment is having certain reviving effect
upon expectations rather than on pres
ent transactions.
3. The time is close at hand for effect
ing settlements OF some OF the large
railroad -cceiverships. The Erie, the
Reading and the Richmond Terminal
readjustments are expected to be com
pleted some time within the present
month. Drcxel, Morgan & Co. have
come to IN understanding with tho
floating debt syndicate OF the Richmond
Terminal Company, by which the prin-
cipal obstacle is removed, and that
brings the Richmond Terminal affairs
within easy settlement. The res,ora-
ton OF tho large mass OF securities con-
nected with these roads to their usual
status on the market will have good
effect in renewing confidence and in en-
couraging transactions on the exchange.
4. The impression steadily strength
ems thar the industrial situation is re-
turning 10 normal state. Already. a
very large proportion OF the lately sus.
pended machinery OF the country has
resumed work, md the still UNEMPLOYED
is gradually starting up. At the same
time, We notice less complaint OF the
anticipated disturbance OF production
through the new tariff. The change OF
tono seems to be due principally to tho
fact that the new conditions in which
the changes OF duty will place our in.
dustries are becoming better under
stood. Something is duo also to tho
widespread reduction OF wages in almost
every employment, which enables en-.
ployers to resume work on lower prices
and upon safer conditions. The distinct
revival OF demand, as indicated above.
has also direct tendency 10 encourage
production, Thus, in industrial and
commercial atiairs, everything seems TO
DO drifting towards n RESUMPTION OF
operations, not immediately upon n
scale OF normal activity, but on condi.
tons deemed safe and which NAV be
expected to lead to 4 steady expansion
OF business.
The foregoing conditions cannot iail
to have an encouraging effect upon
Wall street affairs. They point to q
further recovery OF confidence, to tho
resumption OF suspended undertakings,
to preparations for starting new enter.
prisos. 10 the Strengthening OF credit,
and the return OF healthier tone on
tho money market. We therefore fee!
irco to suggest that the outlook is on.
courasing to the purchase OF stocks
that have 4 solid basis OF value.