The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-09-23
SOD c0raponasnee nm MlsIligme.r.


boon held in suspense by the gold OK,
ports and uncertainty az to what may
DO done to maintain the treasury gold
reserve. 1t has been somewhat Of q
shock that the "Ireo gold" in tho treas.
ury has fallen materially bslow tho Of
fetal minimum and without compsnsa.
ton from the syndicate, There havs
been several contributions OF gold from
various points to the interior which
have had an assuring effect so far rs
they show the disposition OF financial
institutions outside OF Now York to holp
the treasury according to their ability
and this assurance Is worth tho more
because the amountaof gold scattered
among banks aud trust companies at
interior poina Is pnprocedenIodly
large; and could tho gold which has
been .thRt diverted from ilR former
usual resting place in the metropolitan
banks and tho sub.treasury be system.
RticAlly gathered together, so as u NJ
ford mass Of 30or 40 millions, to aid
the banks and tho treasury In resuming
gold payments with each other as form.
arly, then this scattered treasure might
most materially help towards a permR-
nent remedy Of tho trcasury's dil.
culties. But these caaual and partial
contributions from tho sources alluded
to arc quickly lost to sight in tho export
maslLtrom and their benefit is only IL
small moral gain,
The really disappearing fact Is that
therois still an absence Of any sort OF
iutimalion as 10 what atops arc likely to
be taken for staying tho new current
shipments OF specie aud to provide Tor
tho outflow that usually sets in early in
tho new yenr. Under such circum.
BlanceI, opinion has inclined to tho con.
Clusion that tho government is likely to
issue, sooner or later, now loan, and
the moro 80 because tho President Is
known TO be resolved to take that course
should tho reserve fall 10 seycnty.lvo
millions. Such course, no matter how
necessary, would ho regarded as SET
ious misfortune and could not fail to
have chilling effect In every depart
mont OF business. Tho possibility has
already had its effect; and yet discou'-
agement is tempered with tho hope
that, at the eleventh hour, some means
may DO found for applying 4 real aud
permanent remedy.
This week, tho syndicate and their
friends are understood to have co.
operated for keeping down the gold
shipments as low rs possible and no
doubt have done their beat in that
direction. In the meantime, thero is
little export OF cotton; aud wheat,
though advancing in price, is for that
very reason the less likely TO be ship-
ped; Chicago, however, 10 notably in-
creasing its supply Of grain export bills,
and rates OF exchange arc easier in con.
sequence. There is substantial reason
Tor expecting that tho export OF specie
may soon DO checked, II not stopped,
through the course Of tho money mar.
ket. Tho shipments OF gold and the
forwarding oil large amounts OF currency
to the west and south arc together re.
ducing the r0vsrses OF the city banks to
an extent that may early put up the
ratio for call loans 10 4a5 per cent.
This, with gold flowing freely into tho
bank Of England aud . psr cent dis.
count at bank and I per cont on call
loans, will quickly dispose London
bankers to allow funda to accumulate
hero instead Of continuing to accept our
gold in settlements. Upon tho whole,
therefore, tho indications of tho moment
suggest a strong probability Of an carly
abatement OF tho exports Of gold; and
this produced marked improvement
OF feeling in a.ock towards tho ond OF
tho week. OF tho intentions OF tho avn
dictate little 10 known. Ihoy recently
openly announced that they considered
their engagements with tho treasury
fully completed, but iutimRted that 1t
is their purpose to voluntarily contri-
butte gold for an indefinite future period
Some further helm from that source
may therefore be anticipated, II needed.
Tho recent heavy break in stocks has
proven to DO a good thing for the mar
ket, as It forced stocks from feeble
handk into stronger ones, and such rs
are capable Of not only sustaining but
advancing prices, besides imparting
moro activity. Tho 81. Paul statement
Of earnings, showing an increase OF
$50, 900 ovor tho corresponding date fast
year, was really the turning point in
Mondays DEUCE as the grHugers Woro
tho most vulnerable part OF tho market,
and yielded readily 10 the attacks,
which wero very savage. There is n
good deal that indicates tho possibility
OF another bond issue. Such noEotla.
ton is not yet positive, although quito
likCly before Congress conyenes. Tho
advance Of 3 Ccnls in wheat from tho
lowest prices Is u favorable feature in
tho situation, especially for tho ST, Paul
road, which has most to do with tho
spring wheat crop. Tho attitude OF
London towards international Amori.
eau atocka has been diBappoint.
inc. 1t Is easily accounted for, how.
over. by the CtazO attending tho
Kalir diamond and gold stocks. Such
a wild frenzy OF speculation In doubtful
properties has not been Witnessed In
Europe Mncc tho Panama ditch Bpecu.
Intion IN France. II IL to DO feared
that tho collapse in tho Kaiiirs may no!
unlikely turn out 10 DO "a disastrous 10
the holders who oyoratay thor market
rs Ia tho Cago Of the Panama canal deal;
aud when that timO comes American
securities will doubtless again takO
their potillon In tho London market rs
iayorities ThCdinlculty nt tho present
timo Ia that tho ups aud downs Of
American securities range within only
n low points from wnnk 10 wnnk, which
mako them cnm DAfAiively iaipo 10 dnal
In M compared h tho Inducements for
operating in tho liailin,which frequent
" provide for profit Of several hun.
dfed nor cont within fow DAYS.
HESnY CLEws.
Tho wool Grade,