Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1901-06-23

4n<30
y0s sWh<n IA ~ tbs N8xkhern p6ct6e<
Great Northern and Burlington deal and
removes # from ) panic d~isturbance which
followed the latter The Community az
interest idea il now than ever:
for the Northern Paci6c quarrel simply
showed the strength Of both sides and eff
fectively demonstrated the necessity for
harmonious relations. BY this process OF
unihcation three great transcontinental
routes are being developed: the Great
Northern. Northern Pacific and Burling-
ton route: the Union Paciic-St, Paul and
Missouri Pacific with their Vanderbilt
connections. and the Pennsylvania-Atch-
ison and Rock Island route. These ar
engagements make permanent through con-
nections between the Atlantic and Pa
cfhc oceans; and. with the great future de-
velopment Of m with the Orient,
where two-thirds Of the worlds population
is to be found, not to speak of our own
growth, the Pacihce coast and it's con-.
meeting roads are sure to be an Important
factor Our shrewdest railroad managers
appreciate the greatness of such oppor-
t~unities, and are actively preparing to Sc
cure their share of this new commerce and
its demands upo American industry and
capital.
For an indefinite period. therefore. the
market is likely to be influenced by these
negotiations, rising and falling accord
Ing to the prospects of success and failure.
AS these gentlemen are not likely to show
their hand. except at their own conven-
fence, all reports of their doings. and con-
illusions will have to be accepted with a
certain degree of reservation. Ordinary
influences affecting the market are of a
favorable nature. The crop situation con-
tinues good, and a big wheat crop means
good times for the farmer. Railroad earn
ings maintain their large increases with
surprising steadiness. General business is
in excellent shape, and there is every pros
pect of a good fall trade. Even the textile
trades, which have been the slowest to
respond, are feeling the touch of pros
perity, and both cotton and wooden goods
last week were In better demand than for
many months. In the iron trade the ac-
tivity still far surpasses all records; and,
If iron is to be considered the best trade
barometer, the country must indeed be
prosperous; a fact which the most con-
tirmed pessiInist must .concede. Another
important element of strength is the great
scarcity of good investments; many of the
old time securities having been entirely
withdrawn from the market. The various
deals of one sor. or another have, II is es-
timated, withdrawn from the market over
$3.50, 10000 of securities during the last two
years. How far this sum has been made
good by return OF securities from abroad
and by new issues it is impossible to cal
cuiate, but everyone knows that the sup
ply of desirable Investments is exceeding
ly limited except at almost prohibiuye
prices. If this condition IS not relieved,
speculative activity will be forced into
other and probably less desirable chan
nels; but this is a situation that can be
met when it comes. At present the gen.
eral market is in good condition and with
heavy July disbursements close at hand
the prevailing Influences would be favor
able to a higher market were it not for
the monetary situation. This, as init
mated abov, may be the controlling fea-
ture. Tight money would debar any i'm
portant prolonged bull campaign.
HENRY CLEWS.