The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-06-21
Special Correspondence.

EpfSinl Correspondents
NEW YORK, June ia.-At times dur.
ins the week the stock market showed
reactlouary symptoms, Prices have IN
dergons very substantial advance
since the beginning OF the year, and un.
der ordinary conditions free realizing
might be expected. a good deal of pro-
NJ taking really occurred. and some
o! the more intrepid bear operators
ventured pHtting out fresh short lines.
but only with the sffect of strengthen
ting the market and increasing the buy
ing power
The present situation. however, Is so
unusual that ordinary standards of
judgment must be applied with care.
/, is true prices have scored u hand.
some rise. but chat does not mean that
the limit has been reached We have
but iuSt begun to emerge from very
unusual drawbacks: from q cOmbina-
(lon Of political and economic derange-
ments such MS are only experienced at
rare intervals. Those who calculate,
therefore. upon a rise Of only ordinary
proportions are likely to be agreeably
Disappointed. The market has fairly
Gtarted upon an upward course, and IL
IS likely 10 continue so for some time TO
come. accompanied of course by fuctu-
atoms and reactions incidental TO any
fair degree OF activity.
Thus far Wall street has merely dis
counted returning prosperity. The Inn
proyement IN business at present Is
greater In sentiment than In fact The
IANNftAW 81 4 NhnNPfNNI tnnR
IS however likely TO become a power
full aid TO business revival Already
there ARE signs OF actual Improvement.
New York has been the chief centre OF
pesslnlsn. because here the strain up
ca credit resulting from the silver craze
and trade depression was greatest. This
strain has almost disappeared our
leading bankers are reGaining conf
dencc; our most responsible railroad
managers are very pronounced In their
belief OF better times the coming tall;
those who lead ore more willing TO take
the Initiative: and many OF the evils
from which we have been suffering are
working out the!r own correc;lveness.
The crop situation Is satisfactory.
Wheat. corn and cotton are somewhat
backward, owing 10 low temperature
and excessive moisture. but In spite OF
drawbacks there is every prospect or
abundance In the agricultural sections
Of the country trade reports are favor
able. Merchants are In u position TO
stock up more freely. and the farmers
are gradually getting out OF debt; In
fact. In some portions OF the west they
are ln a better condition. financially.
than In many ycars Cheap freighis
have often more than compensated Tor
low prices.
The industrial situation Is also i'm
proving. and this Is factor OF IN
crenslME importance to Wall street, IN
view Of our rapid development IN this
direction The Iron trade, generally
considered a fair business barometer
Shows increasing activity: some large
orders for pig iron, bar Iron, etc, nav
Iar been placed az the western markets.
where nrices are low but Arm. A better
demand Is nlso developing for staple
cotton and wooden goods, and In some
instances moderate advance in values
has followed These two prominent IN
du5tries are Btill IN unsatiEtactpry con
lltlon owing 10 an excessive productive
clrar';y, hot % s. ENCOURAGING 20 noie
A ;uru Tor Tho better which promises %
be maintained.
The ilrin question will sn'r De Nut
a, ~. WAY. aud t1.a accounts very
ErENlV fOr iaN DflAcF tSll- ''s
ri-rrss The better prospect ot cure lcy
rec,nn ana the abatement q; Cutan
ayftatihn ere also encouraging factors
or Importance. The cnndIl5n OF our
f5rFign commerce &. Satisfactory EN-
p4-ts continue large: aad a. t.ir rush ot
Imports 20 anticipate the taEl1 ms
soon cease. there i no prosTcei oi M
r1r,an: gold shipments The treasury
Issarvs is strong. and before long we
ga,U probably b. Importing 500, es
pecilIiv K the foreign demand tof our
securities reviye>. as Seem' n't philh',
splniop over there is steadily becoming
more favorable
Personally. believe n higher
market Reactions may be expected:
hut they Will he light md the trend o.
valuss win BE- unmlstakaniN upNa'uss
ior some time TO Conc ''''s'
49, HENRY CLEWS.