The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-10-23
Financial and Commercial.
Money Active soysrnnsnts Strong. Stocks
Excited and Higher
Flour Taehanged-wheat Unsettled ana
LoWeE-FroViplons Higher. b

II - .a
Flour Unchanged wheat Unssttiea AMI
LoWeE-ProVislon Higher.
New York Money and stocks.
New YoRK, October 2-MoSEy-Actiye a
Z Lie per cent, closing at I per cent Pnm,
mercantile paper 6a9 per cent Sight ex
change hrmer Ut q sSk, Startling exchang'
" sou. The closing quotation for call loan
was 2 per cent As high - Y per cant pei
day and per cent per Annum was paid OF
Inferior eollateralg to-day.
GoyERANEaTs-strong. M
United statas q Of ISL coupons
NeH -FOUR and halls
NeN
SunuWeN ,l
RAILROAD BoNp9-Contlnue strong and
active. and prices generally advanced. The
following were the changes, compared with
the lAst previous sales: Ambulance of3H 10
Missouri Kansas and Texas seconds, . per
cent In Iron Mountain tirsts preferred income
and Mobile and Ohio dedentires, 1 u In Kan
sas and Texas ilrstS consolidated aSSent0d, ~
In Iron Mountain seconds preferred income,
~ per cent In Wabash seconds ex.coup0n,
per cent In Jersey Central tirsts ennsols assent
Cd; 9. C.& al. ., frsts sold ate, and Sioux
City tirsts 1T aSIS.
sr4TE BoSps- Unusually active and gensr-
ally firm.
srocEs-The market was buoyant, and The
widest excitement prevailed In and around
the Stock Exchange. In fact nothing like ithas
ever before been seen by the Oldest habitue OF
Wall street. The orders for stocks from out
Of town, especially from leading Western
cities, suchas Chicago, st Louis, Cincinnati
and Milwaukee, were simply enormous, and
brokers found difficulty In traasactlng all
business forced upotl them. The coal shares
were the great feature In the early dealings,
while during the afternoon Wabash, St.
Louis, Kansas City and Northern, Kansas and
Texas, and Western Union became very
prominent In the advance. which extended,
however, throughout almost the entire lisi'
ranging from 70 AZ per cent, the latter
Delaware and Hudson St Louis Kansas City
and Northern advancing AZ. Kansas and
Texas ~, New Jersey Central 3&, Wabash
w, Morris and Essex and Western Union 8,
Delaware, Lackawanna and Western az,
Kansas Pacific az and Hannibal and st, Joe
2per cent. 4ll
Subsequently prices reacted / to3 percent. Ia
coal shares on realizing sales, and the general
LIST declined q fraction In sympathy, but in
the final dealings strong buying movement
was developed and the decline was almost 70.
covered, the closing prices being at or near
the best figure Of the day. Union Pacific de-
citned TX per cent, but closed at recovery
OF per cent Canada Southern continues 10
advance on reports Of large traffic on the
line and under purchases for investment on
the belief that Il must soon take It's place
among other high priced Vanderbilt shares.
tacltia Mall was bnoyant and advanced To
fNRh taat Ia,
the common closed at 81 and preferred ct 81.
The talk to-day Is OF new combination to
advance the gold specialties, the Vanderbilt
stocks and Pacific properties The movement
In Western Union Is accompanied by the re-
port that 8 per cent dividends will hereafter
be paid. and Pacitics are advanced on the state
ment that the Supreme Court decision affirm
Ing the Constitutlonality Of the Thurman act
has been discounted, and also that the Van
derbtl1 will DO represented In the next Union
Pacific Board Of Directors. One reason forthe
advance In coal stocks was dispatch from
Philadelphia to the effect that the supply OF
coal Is much less than month ago and that
there is an absolute scarcity OF stove coal and
that large advance in price Is probable.
The Graphic, relerringto the extraordinary
demand and remarkable advance In coal
stocks. says We are enabled TO state, after
careful inquiry among the officers and diFec-
tors OF coal carrying railroads. that the bust
ness OF these roads is.Rt present considerably
In excess OF anything heretofore experienced
In their history. The diminished operating
expenses, BY reason OF reduced cost Of labor
and materials, more than compensates for the
low price OF coal with the present volume OF
demand, and 1t only needs slightly higher
price for coal and slightly decreased con-
sumption to restore these great properties to
q dividend paying position, which they so long
occupied before the panic Of 1873,
The demand for anthracite coal by reason
OF the reviVing OF the industries OF the coun-
try and the opening OF new and large markets
In the West and South Is already fully equal
70 the supply, and the carrying facilities Of
the roads are taxed to their utmost Itiscon.
tident'y predicted that at least two of the coal
roads will be enabled 10 resume paying diyi.
dends within the next Blx months, Arrange
ments, under the plan Of reconstruction, are
now pending for taking the New jersey Cen.
tral road out Of the hRnds OF the receiver, and
1t isexpected that the final proceedings nee.
essay to ibis stPp will he taken In December
or very shortly thereafter, when Judge La.
thropwill doubtless be elected TO the presiden.
cy.
1t is stated that the net earnings OF the road,
even at the present time, are adequate TO
Justify the Expectation Of dividend 70 share.
holders early next year and the recent large
purchases Of stock here and In England ara
60Sed on this expectation: 1t Is stated on
authority that the company will mine and
bring to market this year four and quarter
million tons OF coal. The past year the aver.
age price has been 81 40 per ton. 1t has now
advanced o$2 so and the companies are con.
sidering proposition for further advance
Of fifty cents Immediately. At$S0O per ION
the officers of the New Jersey Central claim
that the company can pay all fixed charges
and dividend OF Z per cent. For the above
reasons still higher figures are predicted for
coal property. +fsG
It is said that several prominent operators
have large short interest In coal stocks, and the
Osborn party are still short on Erie,
A dispatch through Kiernan's Bureau saws
that the Missouri, Kansas and Texas has been
leased TO the Union Pacific and Wabash.
A Washington dispatch states that the
Increase In tho national bank circulation for
October will he $3,000OO0.
Northwestern earnings for the first four
days Of the third week Of October inore lsed
81, 600. The earnings Of the Iron Mountain
Road increased S29. 900 for the second week OF
0ct0ber.
Transactions, 49s,ooo shares, Of which So,
600 were Erie. 5000 Lake Shore, $4,000 Wa.
BASH Is 900 NOrkhwasfart IA mn h ponl AZ