The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-06-10

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Specdi Correspondence cftas Int.ito.fer.
NEw ioRH, Juno S.-Duriny tho INST
week there has been a slight slackcniur
oil pace in tho stock market. Several
causes have contributed TO tho aba,c.
'ncnt OF activity. During tho first half
OF tho wcck. considerable apprehension
was felt that tho protracted oxtraordi.
nary boat might work serious injury to
the wheat crop; later, however, these
fears wore rcliovod by moro cncourac.
inG reports from some important soc.
nous, anu by an absence OF discourpr.
Ing news respecting the corn crop,
Doubts as to the dividends OF solne Of
Tho Granger roads had also Il tendency
10 check buying; and tho hardness in
bringing the bankrupt roads toward n
settlement Of their finance, has Ind n
ike elect. Londouinluonces also have
not been holpfuI. Monday was u bank
holiday then came n check to tho pee
ulntivo interest from Turkeys unex-
pectod rotusal 10 accept the demand OF
tho Powers intervening for tho adj usi.
ucnt OF Armenian "aiIairs; and added to
thc'c influences have boon negotiations
looking to the placing Of large loans In
behalf Of China, which are calculated to
check tho current extraordinary revival
oil demand for American Investments.
And yet it is an assuring symp,om
shat for tho S5,o00,O y OF Allegheny
bonds offered simultaneously ia Lon
don and New York. the foreign oil0rs
aggregated $i3,O0O.O00 while tho bids in
this city amounted to 5000, 000. These
adverse influences have naturally on.
couraGcd tho professional bears" md
there has been sotne irregular Yielding
in prices; but the market has lost none
OF its underlying strength and stands
ready 10 respond to new influences OF n
favorable character. Tho speculative
season, however, is nearing n stage
when operators are apt TO reduce their
lines or close their accounts for sum
NOR absences. There ia also some dis.
position TO defer operations until the
outcome OF tho harvest and tho
prospects Of tho cotton crop are
more clearly foroshadowcd. This
therefore Is scarcely 4 time for
expecting any great revival OF activity.
Nevertheless. there seems 10 be little
probability that these preparations for
the season Of recreation will DO attend
ed By any important sagging Of prices.
Holders are %sauguine about tho future,
aud hope for higher prices after due re-
Taxation and when .heimproved nation.
al conditions have had two or three
months OF further development; aud
they are therefore in no mood to accept
lower prices as a consequence OF light.
ening their load. They also SEQ 4 pros.
pect OF improved railroad earnings and
Of settlements OF bankrupt roads during
the summer, calculated to maintain
prices should they choose TO carry thcir
stocks, which their large speculative
profits would enable them to DO.
The aspect OF affairs in Europe 10 be.
coming steadily moro assuring. Tho re-
vivaI OF business which has set in on
this side OF the Atlantic has its counter.
part mons tho commercial nations on
the other side. Tho only cloud that
o%verhaugs tho horizon, is a posi-
bic reaction in tho mass OF African min.
ing stocks that have been 30 largely in
fnted. Thero appears TO be some un.
certainty, however, as TO how lar tho
pvoGuclvenes OF those properties may
approximately justify the immense ad-
vance upon the value at which they
were originally marketed. 4 large
amount OF the stocks have been trans
ierred from London to Paris, and 60 lar
any shock that might come from them
would DO further removed from n eli
feet upon American securities. This 10
an element that may BE- properly watch
cd, and yet Ii probably porienGs no i'm
mediate disturbance.
1t is very clear from tho eagerno.s
with which new issues arc taken in
in England, Germany and Holland, as
well "a on this market TINT, during the
last five years OF business reaction, n
vast amou ut OF capital has been held
back from Investment until the times
looked moro propi.ious. The readiness
with which new Investments are now
taken is plain evidence OF 4 broad and
positive revival OF credit. That rccov-
cry, means n reinforcement. OF all the
forces OF industry and enterprise and
tho beginning ofanother decade OF uni.
vcrsal prosperity. Reinforced, as that
revival will be. BY the most advanced
methods Of production, this coming ten
wears may bo expected to surpuss every.
thing in the worlds experience in tho
way OF industrial progress and COM
morcinl EXPANSION. Entcrprisiny men
will not stand still and obviously watch
this rising wave OF prosperity. Sagaci.
Gus men will SEQ in it tho begin nin"- OF
n tide that leads on to fortune aud abb
NIT themselves to its current.
It is muCh to be hoped that European
p%oliticg nfe drifting t0vnri' NOR" ~.