Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-11-13

CILNEk Ek-Al lOuuOH OO9u, udI SllNcI
here ll6l; subsidiary silver coin 4@l
per cent. discount.
GovERNMENTs-Strong and &c higher
for new fours, fours and half and tives
U. ;. Coupons (lSNl lUli Z
New flNes'''. ''''''' ''-tO-
New .........lO6i
New FourS......... lO-
Currency
RAILROAD BoNDs-Strong and buoy
ant, with an advance of lac per cent.
Mobile and Ohio debentures and the
Erie issues being the most prominent in
the improvement. Mobile and Ohio re.
corded the greatest advance, but the
great feature OF the market was the heavy
purchases of Erie issues, which al
vanced sharply, new thirty-frst second
consOls rising from 81 to 90, and funded
tives from S34 to 81, In the new second
consols the transactions were about
81 100000. There were also large trans
actions in Kansas and Texas, Texas
Pacific, Chesapeake and Ohio tirsts and
Lake Erie and Western incomes. The
Jersey Central issues, st. Louis and San
Francisco seconds, and Wabash eX-cou.
pom convertibles at an advance OF !@2!
per cent. c. c. & |. c. tirsts closed at
so and Sioux City firSts at 81.
STATE BoNDS-Dull. To-day was the
most remarkable one for activity and
buovancv in the history of the Stock
Exchange The excitement was at
fever heat throughout, and in many
cases not only were the highest prices
of the wear made, but the highest ever
attained. The dealings which were on
an enormous scale, were well distribut-
ed, and taxed severely the capacity OF
the stock telegraph instruments to re-
port them, and orders poured in so con-
tinuously from all parts of the country
that the brokers in many cases eXper-
fenced considerable difficulty in eXecut-
ing them. Nearly the entire list partic.
ipatcd in the activity, and many stocks
heretofore quiet became prominent in
the dealings. The large and increasing
traffic of the railroads, consequent upon
the general revival OF business through
out the country, of course had much to
do with the condition of affairs to-
day, but in a number OF instances
there were special causes at work
to put up this or that stock. The great
est rise was in Nashville, Chattanooga
and st. Louis, which sold up from G0i
TO S3, closing at 79i, on the statement
that the president OF the company has
quietly bought controlling interest in
the Western and Atlantic, which runs
from Chattanooga to Atlanta, and is re-
garded as the key to the Southern rail
Of hs ri fAat .
ures of tile market was the large trans
actions in Erie, chiefly in common stock,
which rose p per cent, and preferred
advancing q per cent. The upward
movement in these stocks, also in the
bonds, is based on the large and increas-
ing traffic of the company and the gen.
eral improvement in the condition of Its
property. The earnings for October
were over 5000, 900 greater than those
ofthe same month last year, which was
one of the heaviest months for business
in the history of the road. Again, the
Erie company owns large amount OF
c., c., &. 4 !. railroad stock, which has
recently advanced greatly in value, and
now represents an asset OF over II 900,
600. The advance in the Granger and
coal shares continued, and they rose la
81 per cent, the coal stocks being favor
ably affected by the announcement OF a
general advance OF 30 cents in the price
of coal TO take effect December !. The
telegraph shares, which have been mac
tive for sometime, took n sudden up
ward turn. Western Union rose 4 and
A. q p. Telegraph 4} per cent,
with n subsequent reaction OF -
per ceut. The rise was attributed to the
enormous business OF Western Union
and its leased lines, growing out OF the
great activity of the trade markets and
greatly increased speculation in stocks
and grain. In the miscellaneous share
list Chesapeake and Ohio first pre-
ferred showed the most improvement,
rising from 81 to 293, purchases OF the
stock being induced by the report that
the company has contracted 10 extend
its southern line from Huntington TO
Lexington, KY, and also for the exten-
sion TO Cincinnati. st. Louis and San
Francisco, Ohio and Mississippi,
c., c.. q /. c., Alton and
Terre Haute, Iron Mountain
and Mobile and Ohio were nouceably
strong. In the final dealings a buOyant
tone prevailed, and the market closed at
an advance for the day ranging from
to 10 per cent st. Paul and Sioux City
common closed at 42l the preferred al
II. Pullman Palace Car stock sold up
10 l0SGl09, against 100 few days ago.
The rise was due 10 the reports that the
cars of the company are TO be used 10y
the entire Southwestern system OF roads
and bv the lines west OF Chicago. In
addition TO the influences mentioned
above, a further impetus was given the
advancing market by the reports that
Sl0,00O,0O0 more bonds will soon be
purchased for the Government sinking
fund. These reports were probably
based upon the fact that for the first ten
davs OF November the customs and In.
ternal Revenue receipts have aggregated
over Sl,0OO,0O0 a day at an average
and the receipts from customs alone for
the first nine days of November averaged
S626,OOO day. This will result in a
large surplus revenue for the current
month, and its prospective continuation,
which may be looked upon a. assured
will enable the Secretary Of the Treas
ury 10 purchase more OF the six pei
cent. bonds early next month. In
the meantime, however, at the rate
stocks of all speculative descriptions
are going up, it will not take long
to use up the surplus Sl0,OOO,OG
thrown into the market by the recent
purchases. Substantial brokers are r.
quiring wide margins, and some lost ac'
counts because OF a refusal 20 carry
stocks on 5 per cent. deposit. The
Central Pacific paid into the treasury 10
dav at Washington $4,000 on account
ofthe sinking fund. In connection with
the rise in Nashville, Chattanooga and
81. Louis there was a rumOr that tht
road will beconsolidated with the Louis
vile and Nashville. This also had q
tendency 10 assist the already adyanc
ing stock of the first mentioned road.
The transactions to-day aggregated
the immense figures Of 624,OOl
shares, Of which 10000 wer'
Erie, 1900 Lake Shore, 1900
Wabash, 1900 Northwestern, $500
It. Paul, 2l,0OO Delaware, Lackawanni
and Western, II 900 New jersey Cen
tral, IL 600 Delaware and Hudson, 600