The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-10-07


There is fair "trGlorl" market, with
moderate fluctuations in price, aud but
title more, This aspect soema to DO
due lcas to any now dissrnts than 10
tho absence OF any special factora
stimulating activity. It is perhaps no
more than an inclination to roat naIur.
ally following tho great squirt that soI in
with tho syndicate operation. The CT,
iecla Of that recovery seom to havO ex,
hsusted themselves for the time being,
and a breathing spell appears to be in
order.
Among cautious observers there hRI
been, fos somo time, disposition 10
doubt whether, in the general bu,inesi
OF the country, AilairI may not have
struck tailer pace than conditions on
the whole Warranted, Iho increase IN
industrial production has been 10 great
as to suggest question whether sup.
ply might not be found to surpasS tho
wants oil consumption. Tho almos!
universal rise in wages seems to have
been ~ much q matter OF sentiment Us
OF prudent business calculation.
Higher wagoI have nGcessita,ed an adj
vance in prices; aud higher prices have
naturally induced caution In laying in
stocks. That the first flush OF indus.
trial recovery is bogetting q certain
amount OF hesitation in tho diI,Tibu.
ting trades; and, for the moment nj
least, there il come tendency towards
reaction. In some branches Of trade,
this tendency is encouraged by the
largenGsS OF the lmporls-an OF.
feet on tho ono hand Of lower
duties, aud, on tho other, Of
the rise in tho prices OF home products.
In the iron trade. there is distinct reac'
ton from the late large advance in
prices aud some contraction In the do.
mand. Tho wooden trade, in making
large voluntary advances in wages. has
neutralEed much OF the benefit arising
from free raw material, and, thus handi.
capped, it has to meet the opposition oil
large imports OF foreign fabrics. In like
way, tho leather trade has advanced
wages and prices to point at which
tho boot aud shoe trade arc compelled
TO contract NJ the same time their pur.
chaaes Of leather and their product Of
good,. These are but specimens Of
what Is occurring in other branches OF
trade, and may be taken as expressing a
process OF temporary reaction that iG
appearing in most OF our manufactures.
Facts OF this character attract the at.
touiion OF Wall street aud check the
buoyancy OF tho financial barometer
After such large advance in the prices
OF stocks as has taken place within the
last six months, it is therefore not sur.
prising II there should be some willing.
ness TO see the market tested and TO
wait for tho further development OF ten
denotes. The market has therefore
easily fallen into the hands Of the pro-
isssiouals, who are satisfied with irac-
.ional ups and downs, aud do not care
to risk large operations to iorcO the gen.
erai movement Of prices either tho ono
way or tho other. II IL probable, more
over, that some large holders OF shares
have succeeded in unloading to q con-
siderable extent, and so far tho market
lacks an element Of support
II 10 not, however, TO be inferred from
these iacA that the market is in any
really weak or exposed position. There
are counter facts which suggest 3 hope.
fol outlook. While the manufacturing
interests may have run into temporary
over expansion, yet the reports from
trade circles uniformly represent the rs-
tail trade ne rctive and healthy. l!
wages have been hastily advances, tho
working millions have the moro money
10 spend, which will bel p TO take OIL any
surplus reduction and to support the
higher range Of prices. Tho railroad
situation is improving aud iI likely TO
continue to do so as the crops come for.
ward ioroxport, tho movement Of which
has thus har been tardy. Tho gold
situation has entered upon more as
suriug phase. Produce bills arc grad
ually increasing in volume. Europe ia
coming round TO accept the Tlsa in cot.
ton and wheat, and both articles arc
consequently contributing larger sup
ply OF exchange; and some $1,000
600 OF bankers bills hayO TO DO
drawn against tho negotiation oil that
amount OF stock Of the Anaconda mine.
OTinr 10 thess isct8, the rates OF eS'
change have fallen below tho specie
shipping point, aud the general conclu.
sion in Wall street Is that not only shall
wo export no more gold this year but
may quite probably import 1t. IhA!
contingency must largely depend upon
tho course Of our securities ia tho for.
cign market. Tho cessation OF gold OK.
ports will affect London layurabIy to-
wards Americans, and that fact would
support any upward tendency In prices
on tho homo market. At present tho
mining craze at London aud Paris must
involve sons neglect Of Uurinvessmcntsi
but tho initiation haa reached such u
high tension that tho timo cannot DO
distant whcu prudent operators will be.
Gin 10 ToalIzi upon he innammable stun
upon which they are yonlurng such
high stakes.
Upon tho whole, therefore, wO arc lar
from taking u gloomy Wow OF tho pros
poets Of this market. lhors Is In tho
situation material enough Tor a further
Improvement Ia values later on, and
tho spiril among operators IL such that
that they would oaaily respond TO Gny
such tendency. Its not n BAIO market
In be heavily "ahorl" upon, and tho
'bears" evidently appreciate that fact.
Moderate declines in prices, therefore,
will afford promising opportunities Tor
buying for moderate profits Quick IN
aud out transactions will DO tho most
fonunofaliyo for tho coming week.
llESnY CLEws.
==H.aa