The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-08-16
THE OUTLOOK VERY BR|GHT
Every indication Of a Big Business
In the Future.
Corn Reports Most Flattering. The
Wall Street Bulls Expect an Old
Fashioned Campaign and their
Hope is High. What the
Veterans Saw.

! vi all unc reports on the crop sltua-
ton issued during the year by the gen
eral government or tho various states
those for august ind September are
considered the most momentous The
statements Of the agricultural bureau at
Washington are given ont on the 10th of
each month. The figures Just furnished
tully bear out the tiattering accounts re-
ceived by telegraph and mail from re-
sponsibie sources rs we'll rs the hopeful
expressions of prominent railway Off
clals who have returned from tours of
inspection over various big systems.
The increase in money value of this
years crops Will be enormous. and upon
this enc fact more than anything else is
Drcdicuted the absorption Of securities
ard the great strength of the markets
AS the farmer will receive fair com
pensation for his labor he will bo in n
position to spend moro for the necos-
saries and Injuries OF life. This will he
good Tor the country storekeepcr. which
VIII be starting point for improve
mcit that will be felt i'll every ramiiica-
tlon of trade and finance. Success of the
agricultural class has been the underly-
ing cause for prosperity at ali stages,
and the railroads 10 less than the mer
chant and laborer must benefit Rrcatly
during the next year or Is mouths if the
August crop estimates are not seriously
out down by future damage by the Gle
1nents. The corn crop happens TO DO tho
most important of all this year. as IA
bounteous yield means plentiful sup
ply of meats, which enter so largely
into our export trade and which will
sooner or later result in the return of
some of the gold forwarded to Europe
in tho past year
As has been pointed ont moro than
once, comparatively few brokers and
spectators really know what genuine
bull campaign Is like, and thoy arc fool
1shiy enough gauging their operations
now by the sporadic rallies that have
occurred oily and on during tho past fow
years. They profess to believe that tho
enhancement Ill values since the adj
Jcurnment Of congress in March last has
more than discounted the enormous ad-
dition TO tho cOuntrys wealth by the
phenomenal harvest, now in progress,
and they persist in fighting the rise.
The older Leads know better and arc in
chned to give the bears all the rope they
want, with the firm conviction that the
moro leeway tho latter are given the
quicker viii they hang themselves.
Probably the best criterion of the stu
alton Is the fact that while the profess
slonal oloment keope on selling short.
those closely identified with the rail.
roads are buying securities and that
powerful bankers and their friends nre
backing the market.
All those who make any pretext OF
I, keeping UP with the times know that
Che old substantial dividend payers, like
Lake Shore. Northwest and st. Paul
preferred, New York and New Haven,
Morris and Essex, Lackawanua and Del
aware and Hudson, long since passed
from brokers offices into the tin boxes
of investors. and that there is no longer
any field for speculation in that class.
They also see that tho same thing ia
now gong on IN stocks which, while
paying dividends for number Of years,
are selling ut comparatively low prices,
because they are not yet we'll known TO
investors There is every reason to be-
i1eve. therefore, that the granger stocks,
Chicago and Eastern Illinois preferred
Lake Eric and Western preferred, West
crn Union and Manhattan will become
scarce, and that all properties having
the advantage Of good management and
geographical position will in time.
move to a higher lcvsl. Investors who
are looking for income and Spectators
who prefer to trade in stocks the divi-
dends on which pay the cost Of carrying
or moro are devoting their attention to
ouch shares as those just named.
At the same time low priced stocks
arc growing moro and more in favor,
and Missouri Pacific. Texas Pacific, Wa
bash, Canada Southern. Pittsburg and
Western preferred, Omaha, Wheeling
and Lake Erie, Hooking Valley and
Southern Railway are destined to come
to the front before great while, pro.
vloed, of course, nothing untoward hap
pens to the growing crops. On the other
hand, Eric is gradually settling down
TO where it bclongs, i'll view Of the prob
able leyyiDg Of q Sic assessment, with
ont anything in the way of new securi-
ties tosshow for it, and Northern Pacis-
10 preferred seems destined to work
Down to where other bankrupt propar
ties have gone, since the stockholders in
this case also are confronted with the
probability amounting almost to a Ger
fa1nty OF $15 cash assessment. Tho