Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-11-21
GovKRNMENTs-Steady.

GovERSMENTs-Stead
O. 5. Coupons ssll.
New Four-and .........lO6}.
New Fours '...''''.''''''iS
Currency
RAILROAD BoNDs-lIeavy and lower ;
Erie consul seconds fell off from 81 to
S4i, and recovered 10 S6!. Boston,
Hartford and Erie firsts fell from So to
81, Kansas and Texas consuls assented
from % to 9Ol, do seconds from 4S 10 -,
Chesapeake and Ohio tirsts, series h,
from 81 ! to GOI, and do. currency IS
from 80 to 81. c., c. II ]. c. firsts closed
at 81.
STATE BoNDs-Dull.
SToCKs-The Stock Exchange to-day
was the scene of wild excitement cOnsc-
quent upon the renewal of the
downward movement of yesterday.
The transactions were the largest
recorded, and the fluctuations
wide and violent. As soon as the mar
ket opened there was great rush To
sell, and prices tumbled rapidly, the
pressure To sell increasing AZ the morn
ing advanced. At first Erie and coal
stocks led i'm the decline, then many OF
the new shares participated, and finally
the whole list broke down. The decline
ranged from to Z per cent, and was
attended with an enormous business IN
many Of the active stocks. 4 down
ward movement was inaugurated by
some of thc'large spectators, who sold
out last week, and who, finding the
market did not yield sufficiently under
their sales, made a. bold attack along
the entire line, particularly on Erie and
coal roads. THIS attack was begun last
Monday, and continued with increasing
force each day until to-day, when II re-
suited in the decline already noticed,
The break this morning caused the
brokers to call on their customers tor
more margin, and many speculators NOT
being able to respond they were sold
out, which assisted the general decline.
Again there were large number OF stop
orders in the market and the sales
Of stocks against these tend
ed to add to the de-
moralization. The telegraph also brought
in orders 10 sell and for time there was
a general scare. The bears called upon
the bulls for additional margins, and
money was bid up TO one-eighth per
diem and interest, all Of which, Of course,
had an adverse influence on
values. There was rally
Just before meridian Of ! 10 3 per cent,
which was not sustained and the market
broke again. At the second board there
was another recovery, which was also
subsequently lost, but after 2 o'clock
the scare OF the earlier part Of the day
subsidized very materially and much
steadier feeling prevailed. There was a
general improvement in prices, ranging
from TO 81 per cent. from the lowest
point OF the day. In this upward move
ment nearly the entire list participated
with the greatest activity in Erie, coal
stocks and granger shares. Just pre-
vious TO o'clock money was bid up to
/ per cent. per diem and interest, which
checked the improving tendency OF the
market, and caused reaction IN the
final sales. The events Of the day were
freely discussed in and out Of the ex'
change, and the general opinion pre-
vailed that the market would resume it-
old buoyant tone soon, a. leading opera
tors have acquired what stocks they
wanted. The uncertain element
in the situation seems 10 be tho
time required 10 complete tho
acquisition. The Pot saws "Tht
leading speculators, 10 whom the de-
preston OF the week was mainly due
were to-day large buyers, they taking
the stocks furnished on telcgraphic and
mail orders. Whether these large spec
ulators have yet got back their full line
OF shares is q question, but that they
have replaced former holdings 10 con
siderable extent is beyond doubt" The
Grdphic remarks: "The effect of thu,
bear raid for il is really no more than
that on the general market cannot be
otherwise than healtlful. Ii will serve
10 bring into the market solid buyers foi
sound stocks, which, when the profitable
character Of the traffic now being done by
the trunk lines and the plentitute o
money, which is certain 10 soon preval
at this point, are considered, they can
not expect to buy much cheaper THU
wear. Another financial writer says
There were indications this afternor
that both Gould and Sage were buyin,
stocks, for Gould speciallties were com
paratively steady, while the others wer'
unsettled. Vanderbilt's friends als'
came to the support OF his specialities
/ Ii is believed that tomorrow will be th'
last day Of the raid, but il is not reason
/ able TO look either for steady or stron;
/ market for some days. Outsiders vii
be deferred from speculation until they
see a decided reaction and more con
| fident buying, and il may be that the
/ market will not resume a natural tOn'
| before next week. IL is believed tina
the Secretary Of the Treasury will sOor
begin the purchase Of bonds for sink
ing fund and on the strength Of thi
another bull movement will be en-
! gineered.
The transactions reached the immens.
| aggregate OF $4,000 shares, OF which
| 2l7OO0 were Erie, a., 0O0 Lake Shore
| 22O00 Wabash, 5000 Northwestern
1900 st. Paul, 1900 Delaware, Lack
awanna and Western, 1900 New Jerse.
/ Central, 1900 Delaware and Hudson
! 1000 Michigan Central, 6,OOO Cnioi
Pacific, 10000 c., G. * ]. c., 1900 ,,
Joe, 1900 Ohios, 900 Western Union
10000 Pacific Mail, 10000 Wabash, >,
Louis and Pacific, 5000 Kansas an
Texas, 100 Iron Mountain, 200
Louisville and Nashville, ii, 600 North
ern Pacific, 5000 indianapolis, Cincin
natl and Lafayette, 1000 Chesapeak
and Ohio, 10000 Reading. 1000 3
Louis and San Francisco, 1000 Nash
vile, Chattanooga and st. Louis, 200