The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-06-24
FINANCIAL REVIEW.
Wools OF Continued Expectancy
on tho Stock Exchange.
THE FOREIGN PRESSES OBSTINACY
wotnily iiohind Inthoir Appreciation
OF tho Changed Conditions Here.
Tho Sound Moncy Crusade sure to
Trlumph-crop Reports Moro Ia.
VOrable Than a Few Weeks Ago,
s0ttial c0lnpoNtmot Of Me InlalInne,,.

S'tr"' 'o''tipohI0ln OI me imeiigtItcT.
NGn foaH, Juno 92.-Tho week has
boon n period Of Continued expectancy
on the stock exchange. No loss OF con.
tidonco In tho ultimate additional I'm.
provomcnt OF tho market could DO OBJ
served; but large operators have wisely
waited to ascertain tho permancncy OF
tho May,risc. Simple prudence dictated
a policy OF this sort, In order TO dotor.
mino how far tho expectations which
that riso nnsici patel had boon fulfilled.
Another cause Of diminished activity
was tho return OF Mr.. Morgan from
Europe. upon whose action several very
important reorganization uchomcs do.
pond. Naturally tho abBonco Of In.
formation regarding his policy in those
matters restrIcted speculation.
Aside from these influences tho stock
market presents m exceedingly strong
front Early expectations hRvo boon
amply justified, and our industries nro
stepping forward in u manner that
shows tho movement has merely started
and not eliminated. Six weeks ago
only tho bold icw wero yonturosome
enough to predict that tho turning
point had been reached now everybody
IL convinced OF the fact, and the proios.
sional croaker 10 Quilted. Tho chief oh.
stacle to n further advance hns been tho
cessation OF London buving. which Is
attributable to natural causes. First,
the immense sum Of oyer ono hundred
millions OF securities. which the
syndicate and its followers placed
abroad temporarily satisfied those
markets; and. in spite Of the
demand for ready inve,tments on
the other side, bankers arc likely to
be more sparing OF their takings
until present holdings have been dis.
posed OF Spectators in London are
chiefly occupied with the kutir bubble,
which, should it burst, would cause n
fresh outburst OF British indignation
about the wicked promoter; and until
this diversion has lost its force London
operators are gate likely 10 limit their
dealings in Americans. Another OBJ
siaclo to foreign buying is the stubborn
prejudice OF the financial press on the
other side, which has n powerful intlu.
enco among the mass OF investors.
Those journals are woinlly behind in
their appreciation OF the changed con.
dition OF affairs hero. Their positions
are based upon the scandals for.
tncrly attached to American rail-
road management aud tho d%istrus.
of our monetary standard. They arc
almost stu pidly ignoranto OF the fact that
these matters now belong to the past,
and that NO arc to have n reform III
railroad management Us well as in cur
rency matters. Europe is SLOW to under.
stand that the sound money crusade is
sur to result in IN overwhelming de-.
feat OF the dishonos: silver i~ntia,iouists.
Our W great capitalists and bankers
appreciate this fact; Tor. coupled with
business revival, il means Il restoration
OF credit us we'll az earning power; it
means that Gro lonS American railroad
securities will rank among tho best In
tho opinion OF foreign investors. and
that values must advance accordingly.
London bankers show by their actions
that they understand the new condi-
tions, aud the English and German
financial writer's canno. afford to much
longer nislead their readers.
Crop reports arc moro favorable than
Il iew weeks ago. There is every pros.
pect of a bountifu! corn crop. which is q
chief importance TO the railroads. Tie
injury to wheat is likely 10 DO coupon
stated for BY better prices. General
trade continues to improve, and there
is every prospect OF a brisk fall trade
when tho time arrives for its com.
mencement. The iron trade, one OF tho
best commercial baro:nctcss, is in excel
lent condition; values rising ana orders
increasing; in fact, before long buyers
will be compelled to rush in their or
ders il they wish to anticipate higher
prices. The great staples OF trade are
generally quiet but steady. In tho in
terror stocks OF merchandise are much
reduced.
In the east wages arc rising and in
dustries daily becoming more active.
At the same time money is plentiful
and easy; while credits are sound. Tn.
porters are preparing for large arrivals,
but tho present lichtness OF exports
Cause, little fear OF gold shipments, as
grain aud cotton bills will aoon DO avail.
able and Europe is likely to be- q liberal
purchaser OF our Investments. Under
such circumstances tue tendency OF the
stock market should continue TO move
in an upward direction; a point has
been reached, however, when tempor-
airy reactions will DO Of frequent occur
renee; quick turna are therefore in or
der. IIENnY CLEws.