The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-03-11
EiSANCIAL REVIEW,

SPECIAL Correspondence Of ne Initlf9enrr,
Ngw foRH, March 0.-AtIairs In Wall
street have taken on n more cheerful us.
poet. Tho dissolution OF Congress has
removed tho political restraints that
have hold both Investment and spocula.
tive operations In check for tho last
three months, and II IA iclt that there Is
now n clear outlook for many months
ahead. without tho possibility OF nuy
legislative froaks to obstruct the oven
flow OF business. This change has tho
more effect because It 10 perceived thut
tho same cause is infusing a more hope.
ful tono into mercantile aud industrial
circles, and 10 suggesting the probable.
ity Of u healthier trade this spring than
has becn experienced for tho last four
Seasons.
Very much OF this improvement 10
duo to the successful working Of the
plana OF the loan syndicate. The treas.
ury situation 10 no longor a matter OF
mention; its dangers nre regarded rs
permanently removed, aud tho whole
brood OF apprehensiouS connected with
tho "endless chain" arrangements Is
telt TO DO a matter Of tho past
The qualification growing out OF large
London sales OF stocks on our market
for nearly. two weeks past has been OK.
plainod in II way TO romovo tho doubts,
felt in some quarters, that tho syudi.
cate might encounter obstacles In the
execution OF their programme. 1t now
appears that those sales, instead Of be.
ing an expression OF Englsh distrust or
meaning that little value was placed
upon the syndicates Intervention, were
not sales at ail BY English holders OF
our securities, but by the London
agents OF New York bear" operators.
Thia discovery removed tho misgivings
about the effect OF the syndicate opera.
tions and has increased confidence
that tho great bankers will conduct
their operations to a safe issue without
any disturbance to tho interests center.
ing at the stock. exchange. In tho mean. .
time. the business OF the railroads be.
cins to show gratifying degree OF i'm
proyemont, especially the lines doing n
southern and southwestern traffic The
unex pectedly favorable character OF tho
Pennsylvania railroad has also pro-
duced favorable impression.
The market is, at the moment, sub.
ject to unusually lively attacks from
the bears the Significance OF which
it is not difficult, to divine. 1t certainly
cannot be due to any change in the
situation really favorinr n bearish
policy. On the contrary, the factors
affecting values are distinctly turning
in favor OF tho opposite side. The fecl-
ing Ia better and the facts are better;
and it needs no special keenness Of
sight to perceive that the tide has
changed in favor OF a recovery OF prices.
And III that fact 10 to be found an ex-
PLANTATION OF the pretentious aggressive.
mes, OF the bears They are in a
largely oyeesold position; they read the
handwriting on tho wall; and arc
making great show OF selling both in
New York and London, in order to con-
csal their buying to cover short" con.
tracts Times have been when they
would have beon made to pay heavily
for their ;e,neri.y. But, in these con-
servasiye days, they may escape scot
free.
With the adjournment OF Congress
the turn for the better is inevitable, and
each day hereafter should demonstrate
that fact. The unsettled condition OF
the business interests in this country
rnpsolonged period past is clearly
traceable to Washington. Now that
Con.ressh has adjourned, that perniciuu4
and prostrating influence no longer
exists. Our troubles, therefore, are
Eow all behind us and have been thor
oughlv discounted. We have good rea.
son to look forward to the prospect OF
good crops and general Improvement
in business Affairs.
The current in favor OF international
hl.mc,a!lism bids lair to become as
strong throughout Europe n4 it in this
country, aud under such n pressure a
mutual arrangement for international
coinage would appear to DO aImns. inov.
liable. Within ten years tho increase
OF tho Indebtedness OF European ma.
tons has aggregated S5,G0O.O0O,0 1000.
During this period with tho exception
OF the past year, tho bonded indebted.
ness OF this country has been on tho
llquida,ing 5aido, therefore, instead Of
Europe bnin: ala7mo! nhou. tho tnan.
cial atlnir5 OF this country. We have
greater reason to have that apprchon.
sion for their future condition, cspec.
ally when our maryHlously superior re-.
sources and greater earning power arc
con,ras'ed with whose OF other nations.
AS TO question, Of currency, highly
important rs tlioya:c. yot they have ior
4 time ceased to rank among tho mat.
tors affecting the Immediate course Of
Wall street Interests. They were too
large. too complicated and too broad in
tho i'slos they involved. to be disposed
OF in three month"; by such n Congress-
as tho ono that handled them, and nos.
sibly by any other. They AFRO now role.
gated for tho consideration OF tho poo
pie, and will receive tho most serious
attention preparatory to tho next M.
tional election. Whatever may DO tho
conclusions reached by public opinion,
tncr are sure to reflect tho
cautious common sense OF .he M.
ton, and VIC may therefore ren.
aonabIy hope that tho final settle.
ment. will BIO sound one. In tho mean.
time, ", have to deal with the matters
OF practical business; aud, roIiovod OF
these voxa:ious, theurotic contentious,
tho nation will return to its work OF
producing. and merchan,ing with re-.
newcd confidence aud fresh vigor Al.
ready, there Is nnmis.akoablo evidence
in our local markets OF preparations for
an increased spring business. Tho city
ia filling up with buyers from tho in.
tcrior; tloro is no longer the dubious
hagcling about prices that has prevailed
for tho last two years; aud manuiac.
tnrerd begin to express surprise Mt tho
increasing orders for goods. 10 my
view, tho signs OF tho hour moan notn.
ing lcss thun n good olu-innhInnr1 snrinv