The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-09
The Business Situation.

ter reviewing the transactions Of Wal
street for the past week, says:
IAN indications point to continued
good active market for some time to
come. The most serious impedlments
were the April settlements. These have
been safely passed, and easy money Is
practically assured for the next threg
or four months. Continued demand
from out of town banks recently to re-
tire circulation has brought the ag-
gregate of such deposits at the sub
treasury within 100000 OF the April
limit. This is unusually early in the
month for the 100000 limit to be
reached, and signifies that interior In
stltutlons gee greater profit in selling
their bonds at current prices than keep
ing out circulation on the uncertainty
of having 1t unprohtably employed
At present there are no signs Of strin-
gency in sight, and money is as easy
in the west as in the east in spite Of
great trade activity. AS just said, this
is an Important factor In the stock
market, for it permits numerous large
speculative operations which had hlth-
erto been held in check.
Another consideration" says Mr.
Clews, mot to be lost sight OF, is the
scarcity of good investments except at
prices almost prohibitive to the pres
ent buyer. Government bonds and
gllt-edge securities are so firmly held
and at such high figures, that new buy
ing, whether for investment or specula
tive purposes, is obliged to turn to the
newer issues. Hence, the preferred
stocks and low-prlced bonds Of reor-
ganizeL railroads and some OF the in
dustrIals have been receiving increased
attention. Government bonds are SO
high that owners are frequently tempt
ed to shift their holdings into securities
that yield larger returns, and the same
applies in some degree to other high
class investments. Not few shrewd
capitalists are parting with fancy is
sues and taking in some of the cheaper
investments having future. There is
still another element that is frequently
overlooked: the unusual large sums
that must come on the market for IN
vestment during the next six or twelve
months. Increased dividends and &C.
tlvlty in business mean not only larger
expenditures by the public and the
stimulus of new enterprise, but also
larger sums seeking profitable invest
ment.
There is still one more element to be
considered, and that is the attitude Of
the big holders of stocks. For several
months the market has been held back
by the differences and skirmlshes g.
conflicting interests. Until these were
settled cooperation among the big
leaders was Impossible. Recent events
have cleared the financial atmosphere
of some OF these clouds, and harmony
once more prevails, so that the heavy
operators are now free to follow their
convictions. These, 1t is almost super
Huous to state. are on the bull side;
and there is good reason for believing
that the market is now receiving strong
inside support, and will continue to re-
ceive it for some time to come.
For these reasons we believe in the
continuance for some time ahead of a
good, we'll sustained active market.
Frequent reactions may be effected,
however. causing wide fluctuations,
which is an essential feature to pro-
longed vigorous activity; but conditions
certainly favor the advancing prices
and leaders evidently consider the pres
ent an opportune time to move their
speclaltIes."