The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-10-15
Correspondence ota.s intelligence.

NEw YoRK, Oct. 13.-The stock mar.
ket as yet shows no sign OF violent
change either for better or worse, not
withdrawing the professionals are
likely to remain in control, in the abb
sence o; fresh features calculated to at
tract a substantial demand from the
public. Tho industrial properties con-
tinue to absorb more than their share
OF attention, and still form the disturb
ing element in the market, inasmuch as
they are deatroyers OF confidence. and
are causing other securities to suffer I'M
necessarily aud without special reason.
There are but few unfavorable situa-
sions, however, out Of which do not
come some good result, aud this ono 10
not likely to be an exception, as In the
ond it will tend toward Revision OF
feeling which will place the industriaIs
in tho background, and speculative
favoritism will once more be with the
good railroad stocks.
The movement has been worked"
for nearly all it Is worth in connection
with the former class Of securities, and
the tremendous losses which outsiders
have suffered as n result OF insiders
maniuulatlon are undoubtedly going to
prove lesson not easily forgotten, and
one which will naturally turn tho cur
rent OF speculation away from manlp'
uIated stocks and towards securities
the movements OF which are governed
by natural causes and not BY the
vaccinations OF fey men. The situa-
ton Of the railroads Is encouraging as
far as tho outlook is concerned, and al
though their present condition is not
all that could DO desired or may be ex-
peCted later on, it is at least guarantee
OF better things to come; and earnings
arc good when the general condition
OF business throughout the country is
considered. 1t muat be remembered
that railroad returns now are being
compared with those OF particularly
prosperous period, when the bulk OF
the Worlds Fair business was being
done. When they are compared with
the ordinary traffic returns, the show
ing is not so poor after all; and with
the habit Of economy now being so well
learned, the prospect for murked I'M
provement in net receipts is good when
the general business situation begins TO
mcnd with more rapidity, as soon 1t
will.
The "Granger" stocks have suffered
for long time on the prospect oil small
corn crop this year; but this idea bus
undoubtedly been carried too far, as
present indications certainly point to
the prospect OF considerably larger yield
than Mt first expected. The Washing
ton agricultural report. issued on tho
10th instant, shows that wheat and corn
had increased over their estimate.ot last
month and information from private
sources from almost every direction Is
TO tho effect that the crops this year are
much undorestimated by the govern
ment. All these form another reason
why an improvement may be looked Tor
later on, for when Il stock or class Of
stocks is unduly depressed, reaction is
natural when the cause for the depres-
sion Is removed or discovered TO be
principally the result OF error. It has
always been practical impossibiIity to
induce the public to buy stocks when
thew are away down; but after the
range OF prices has advanced to con-
siderable extent outsiders begin to buy.
The thing is to purchase while 1t can be
done at low prices and before grow
ing demand has advanced values. This
ought to be good time to buy proper
ties which enjoy confidence. with the
idea OF putting them away and holding
them Tor few months ut least, by
which time the prices for all good secu-
rites will in all probability reach u
much higher level.
London, though for some time past
having shown much more marked
degree OF confidence in American rail
ways, Is at present doing little liquid
alton, as result principally oil the
slight fear OF political disturbances.
Should this continue, it may result IN
moderate shipment Of gold from this
side, unless there should spring up an
Increased demand abroad for our grain
and cotton. The strength in the oter'
ling exchangetmarket has naturally on
tered into the situation to certain ex-
tent rs an unfavorable factor; but with
the present superabundance OF money
and low rates therefor 1t should cause
no uncasiness. The bears, however,
arc disposed to make the most OF it to
depress prices; their raids will furnish
excellent opportunities to pick up cheap
stocks for quick and profitable turns,
and thereby be u blessing i'll disguise
for those who avail OF such opportuni-