The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-06
TREND OF TRADE.
A needed Change for the Better Has
Come Over the Wall street Markets.
The Wool situation

The Wool situation
epeclal Correspondence.
NEW YORK, Dec, "A decided
change for the better has come over the
Wall street markets, l have repeatedly
noted, in these advlces, that the stock
market appeared to have touched bot
,om as to prices; that. so far as re-
s,aets intrinsic elements OF value, there
existed conditions which warranted a
buylng movement; but that there were
,ockine certain elements necessary to
give the upward tendency a starting
impulse.
Just at the moment of greatest
sagnaney these lacking elements have
Unexpectedly appeared. Perhaps, the
more Immediate cause of this change
has been that the room traders have
Foupd ii Impossible to any longer make
rroats on selling, and therefore
changed over to the bull" side This
was A natural test Of the market, and
The response has been. general in
crease Of buying orders. The response
came the more readily because there
has been a steady mitigation OF certain
outside Influences which have been
tending to the postponement of opera
lions. As the opening OF Congress
nears, It becomes more evident that
ma are likely TO have buslness-like
session, with the sensational faction
aires held in restraint, and with pre-
uondarating regard for policies and
measures calculated to encourage conf
dence among the business interests
Among the things which now are con-
sIdered as assured are the support of
The Presidents pacific policy on the Gu
bun question; fair chance for the
sdepSioR Of q good bankruptcy law; an
earnest attempt TO effect some real Inn
provements in the condition OF the cur
rency. though possibly not all that
some nal desire; and an effort to afford
some equitable adjustment OF the rail-
road questions. The marked public neg
lcct of the silver agitation also War
rants the hope that that issue will in
Auenca congressional action less than
has been generally feared. The feeling
IN Washington among the arriving con-
Eressmen Is very confident as to the
abatement of the agitation raised by
the Bryan campaign of last year, and
the increasing desire OF Legislators TO
deal with the pending large questions
IN moderate and conclliatory spirit;
and venture to predict that this dis
position will gain ground as the session
advances,
These symptoms coming to the sur
face at this monument, have an import
ihn iAnr of tho Hnun.
clal markets. and have directly contrib
utei to the revival of buying which has
been apparent on the stock exchange
during the past week. Ordinarily, De-
Cember opens with postponement of
buying operations, owing to the wind
up OF accounts and the llduidations in
cdent TO the close of the year. Now,
however. the situation appears to be re-
Ccarded as warrantlng II departure
from the usage, and operators deem
Il safe to promote an advance prelim-
mary to the rise in prices that usually
results from the large dividend and In
terest disbursements made at the open
ing OF the year. The result OF this buy
ing-a rise of III TO 3 polnts-ln some
measure sets at rest the fear enter
tanned In some quarters that the very
large amount of stocks marketed In
September and october by large hold
ors would prove a load very difficult to
move In any attempted bull move
ment. The purchases have been double
those OF preceding weeks. and the rise
IN quotations proves that the demand
exceeds the supply, and no haste Is
shown to realize on the already good
profits. one of the inspiring aspects of
the market Is the appearance OF large
operators who have been cautiously
standing alOof since their realizings OF
two months ago They appear to real
ize that. with so many assuring factors
IN sight--such as the hopeful pros
poets Of congressional action, the prom
lse OF booming spring trade, and the
probability of Congress at least MAX
ing at least hopeful beginning in cur
rencg reform--it VIII not be possible to
hold prices at the recent senl-panic
level, and therefore, the present sltua-
ton affords a good opportunity for
buying We do not pretend to say how
far this recovering tendency In prices
may Immediately run. Possibly, the
rise mav halt until the Presidents mes
sage and Secretary Cages report have
been digested. after which further ad-
vance may occur. But, In any case, 1t
would appear that purchases at the
present range of prices Will prove prof
fable,
The people ough. to be willing to
leave the entire Cuban question to the
administration for settlement, and have
faith that the best viii be done for the
interest OF all concerned IN connection
herewith. The true course, therefore.
IS for the people 20 pay az little atten-
ton as possible to floating runners
about what both the administration
md the government OF Spain are going
to do or no; going to DO In this matter.
President Mckinley can be trusted TO
do the right thing at the right time,
tnt " the situation Is simply left to
him and his cabinet associates all VIII
be wen. HENRY CLEWS.