Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1901-05-05

funds. and the owners of those sur
pluses have formed such sanguine estl-
mates OF the growing wealth OF the
country that they are willing to stake
these accumulatious without stint in an
ticipate the future nominal expansion.
1t is very largely from the inf1ux from
these distant sources that the immense
buying orders are constantly coming
on the market; and, as the operators
chime in with the interests OF capital
lists engaged in great industrial and
railroad deals" they receive every en-
couragement from the local millionaire
interests. The negotiations of the great
railroad alliances have involved inn
mense temporary purchases of stocks
by railroad capitalists which have fur
nished an important stimulant to the
rise ia prices, and so long as these
deals are continued, the speculative
boom will be backed by this very effect
i've source of support. But it is to be
kept in mind that many stocks procured
for these temporary deal purposes
will have to be marketed as soon as
practicable; and the question is OF
much interest as to what may happen
if these securities are shifted upon the
distant and less closely informed buy
ers of the interior. This is a contingency
to be sharply watched, as it will nave
more to do with the winding up of the
boom than any 0 .ner influence. At the
moment, however, there are few indica-
tons tat this elimination of the great
speculation is near at hand; and, if
further railroad deals are to be forth
= iS& 81
advances before the end comes in
sight
Wall street is apparently figuring ON
the consolidation of various roads to
comprise three trans-continental lines,
connecting by rail the Atlantic with the
Pacific ocean. This movement started
by the Northern Pacific securing con-
troll of the c., B. & O., to complete
it's through line. The N Y Central
and Pennsylvania people, it is thought,
must necessarily fall in line in SELF
defence, hence, the rise in Atchison
common to 80 implies that the Pensyl-
yania road may be buying it for con-
troll, and the same theory applies to
the N. Y. Central people in endeavor-
ing to acquire control of the Union Pa
ciic road to complete its line through
to the Pacific coast. Whether these i'm
pressions are true or false, they form
the basis of rumors which in this wild
market are acted upon as though they
were based on actual fact hence the
rapid advance in the price of both
Union Pacific and Atchison stocks. 1t is
pity, however, that the n. Y. Central
magnates We're not sagaciouS enough
to buy i'll the control of Union Pacific
when its stocks sold down to 50 a
share, instead of now paying up to 1870
for it. 1t is also unfortunate that the
Pennsylvania people did not buy Atch-
ison common stock when it sold at So
a share and the preferred at SIS as
recently as six years ago, instead of
paying 105 for the preferred and 80
for the common at the present time
The same applies also to Mr.. Hills re-
cent purchase for the control of c., B.
& @. at 200 when only comparatively
short time since it could have been OBJ |
tanned in the Cos. 1t is different prop
osition buying properties for consolida-
ton purposes at bankrupt price and |
at a Tremendously advanced figure, |
especially when it is taken into consid- |
Grafton that the connections are for all |
time.
My prophecy made several years ago |
that New York will become the centre |
of the world does not now seem so |
visionary as it once did. British pride !
heretofore has resented borrowing
ABROAD, but now matter of good policy j
has selected this city in preference to |
Paris or Berlin for that purpose.
HENRY CLEWS.