The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-08-13

spss'a' Correspondence Of M Iaseltt0me7.
New YORK, August 1.-The move.
ments Of the market for the week just
ending undoubtedly indicate IN I'm.
provement In the situation. For some
timo past is has been 1uctuatlug aiter.
nately under tho influence OF hope aud
fear; but now It's undertone Is gradual.
ly broadening aud strengthening, aad
thoge ls a marked tendency to discount
o generally clarified financial atmos-
phere. It looks as though wo have
seen tho worst Of everything, aud that
tho pendulum Ia at last going to swing
the other way. Outside Of the att.tm'
portaut tariff queatIOn, tho corn crop
has again been tho greatest factor IN the
market for the past few days. Tho
''bears" huvo been actively engaged IN
pounding the grangGrs, basipg their &C.
lion OH tho prospect Of reduced divl..
Gcnds on these securities, Us d result o.
the prospective corn shortage. Their
efforts 70 bring out long stock, however,
have not been particularly successful,
aud thoy find it difficult to cover their
contracts without bidding up tho mar.
ket. The damage Is almost exclusively
confined to three atates-lowa, Nebras'
ka and Kansas-aud In thoso statca II
almost proximases a calamity, and is
probably not exaggerated; but in the
other states tho crop viii DO fair
average TO large one, owing to tho in.
creased acreage due 10 tho low price OF
wheat last year and tho comparatively
good price Tor corn. The crop in those
states will largely o1sct tho Shortage
caused by dsoush-probably moro than
now expected. The estimated yteld IL
at present only q matter OF private es1
t!mates, which vary all tho way from
1,4OO, 100000 to I.600,0O0,O0o bushels
with tho chances from oil tho data ro'
ceived that the latter will bo about
what this years crop OF corn Will
amount to.
There lie a good and growing demand
for tho Iow.priced non-diviucd stocks
and tho choap bonds. Tho feeling is
that great Iuuny Of these securities
havo boon in auch dIstavor for long
time past that they havo boon unduly
depressed, and that when an improve
ment becomes general securities OF this
class nrc going to respond quickly.
Gold shipments havc practically ceased
10 BIO factor in the market as only
small amounts OF the prccioua metal
have been shipped during tho week,
and the ease in exchange does not indi-
cato u renewal Of shipments In the near
future. Washington advices regarding
tho tariff continue very conflicting
ind tend toward keeping stocks fever
ish. and while there 10 go much uucer-
taIuty among our Legislators the
same feeling must naturally oxist In
Wall street circles. The feeling that
some definite decision. ono way or tho
other, witt soon DO arrived at is gaining
ground. however, and this feeling is do
inp GOOD deal toward Fastening the
return Of confidence.
The stock OF manufactured goods In
tho United SiutOs Is lower than It has
boon Tor great many yours, and there
will soon be actual necessity Tor at least
partial resumption Of buaincas on tho
part OF manufacturers. a speedy set
Element OF tho taritl debate will give
them basis on which to start In, and
tina. IL all that is needed. The entire
stock market has fully discounted oil
adverse factors, AMI will now commence
to consider and DO governed By what Is
10 come, and not what has passed. Tho
present conditions will be lost sight OF,
and give way to those that may DO OK:
pected to prevail six months heaco and
thereafter. by that time I do not hesi.
tate TO say that the railroad earntnga
will be returned to their normal condi.
ton, and general activity IN commercial
channels will 10 restored. The thing
TO do now, is to discount o general i'm.
provement in the future. | recommend
buying stocks now for higher prices.
The sharp advance during tho las. few
Western Union properties. which arc
directly affected by either tho crop or
tariff news, furnishes u sample OF what
We can expect with removal OF exist
iug uutavorahle influences.
'Ne urnuy n vWa