The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-09-28
Special Correspondence.

NEW YORK, Sept. 9G,-The course OF
aWalrs at the stock exchange, for the
past week, has been devoid OF any spec
ial features OF interest. Confidence In
4 conservative result OF the November
election stlll continues to strengthen.
and the success OF the sound money
cause has become virtually fOregone
conclusion SIN, the composition and
temper Of the market are not such IA TO
produce any immediate speculative
"bo1in," Investors are induced to en-
rloy their funds temporarily, under the
present high rates OF interest In the
open market, until money becomes cas-
Ter and prices show stronger upward
tendency: when that source Of demand
may br expected ~ sharp stimulus to
an-Advance. For the most part, there
fore, the market ~ In the hands OF pro-
fesSlOnll Spectators. who. until the
actual result OF The election Is realized,
prefer TO pursue 4 hand-to-mouth poll
cy and follow the monetary changes In
small circumstances. Thus II comes
about TINT, whilst the conditions leElu-
matcly affecting values are every day
Improving aud show an Immense recov-
cry rs compared with n month or six
weeks ago. prices have not risen IN pro-
portion Ia the bctt.rC7l aspects of the
situation. But even II II might b. best
that, Tor the time being, matters should
take this strictly conservative course. It
u Ia 81 frlt NJ lat hAFn lr
balance OF probability almost amount
ing u certainty that ak weeks hence
we shall be launched upon II situation
that will surprise the country by lis
promise and Inspiration.
For the last twelve months. we have
been diScnuntlng every element affect
Ing securities ut Its very worst posi-
.bllitlcs; but when the silver agitation
has received It's QulctuS the situation
Will be relieved OF the danger In which
these dlSsrnstS have conferred The en-
tcrpri5e which has been held In sus-
pens by that danger will resume It's
usual confidence, and will find no lack
"t profitable employment. Ever since
the panic Of 1898. production has been
held In restraint. with the result OF un-
pfCC+dartcdly low stocks OF mCrChan-
disc. OUTLAWS Of capital upon large I'M
dcrtlkinES have been postponed, and
much merltOu3 enterprise has been de-
frrr"d until confidence returns. The
Chlnf;cdUse OF all this has been a none
'tary disturbance. and when that obsta-
Gle Il removed It needs no prophet to
foreSe" what measure OF revival OF
business will result. All this Is foresCcn
and calculated upon AZ all but real
i2ad certainty. and hence the underlying
f,.I. Al
and The inability OK room bears" 20
make any impression on prices. II Is,
however. by no means unlikely that
there may be some early abatement OF
the disposition 10 deter buying opera
tons until after the election. Specull-
tlOn Is simply buying or selling upon
probabilities; and. with the probabilities
OF safe outcome OF the election gaining
strength as they are daily. Il seems only
reasonable to expect that this growing
confidence should some day soon get
the better OF the present extreme cau-
ton and break out into active buying.
II the bears" would consistently back
w their pesslmcstlc professions with
really free selling. that upward reaction
would be quite likely 10 appear pretty
quickly.
We hav. been so long accustomed 10
dealing with unfavOrlble conditions
that the spirit of hopefulness seems to
have lost all It's clacticity. Now. the
current Of affairs has taken complete
turn towards healthier conditions. II Ia
no merely transient surface change. but
IL IL one that goes deep into matters that
| are fundamental But either people
don't, see the transition or they refusr
To believe their eyes and want the evil
dencc OF miracle A set 81 facts like
the following scarcely moves them:
ISaG
Imports OF mdse. sine" Jan. L.. III. go 90
Exports of mdse. since Jan. l.. $50. 9S?.W(
Excess OF exports for months. .NO9. 7GG.VJc
1885
Exports OF mdsc. since Jan. l...sigs.2 IS. OH