Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-05-11

RAILRoAp BoSDs-Active but unset.
ted and generally sympathixed with the
downward course OF the stock market.
STATE Boz SDs-Dull.
SroCKs-The Was q more vigorous and
determined bear assault on the stocks
market to-day than at any previous time
since the current downward movement
set in. Nearly all stocks were attacked
more or less, but the chief demonstra-
tons were against Western Union,
Michigan Central, Erie, the Coal stock,
the Changers aud Pacific Mail. The
business was simply enormous aud the
decline ranged from 10 "a por cent
Hannibal and st. Joseph, the Coal stocks.
the Southwestern shares, Michigan
Central, Canada Southern, Erie.
Western Union, North western ani Pa
cifc Mail leading the downward move
ment. ST. Louis aud San Francisco
shares broke suddenly at the close, the
preferred selling down TO 40 and CON-
mon TO ~. In the final sales recovery
of 10 per cent. FROM the lowest point
took place in some instances. although
Southwesterns developed great weak
ness and the market generally was in q
demoralized condition. The demorali-
zation is said 10 have spread " the
holders OF stock throughout the country
and many orders to sell were received
by brokers. A prominent feature OF the
market was the heavy selling movement
in Northern Pacific shares, based on the
unfav0rable intelligence concerning the
prospective Legislative action with re-
gard To lands of the company. Ia tho
general list OF speculation the forenoon
recorded enormous blocks sold for
future delivery, the shrinkage in values
causing alarm among both large and
small holders. To assist In demoraliz
ing specClations various rumors were
circulated, and notwithstanding these
were promptly denied, they tenpor-
arily served the purposes ot the promi.
nent operators engaged In breaking the
market. The market yielded rapidly
aud the decline Was aided by the sales OF
long stock on stop orders, and by the
unloading Of stocks by those who had
bought after the recovery In the mar.
ket on Friday. The objective point sp
peared TO be the coal stock, with which
Keen is supposed to be heavily loaded,
aud 81 " Licb. tha Tvaniv.thiri sfresl
pssss pesssa I'd @ Lsts Larts oa%Plx. 'ha haF Ai
the whole market seemed without sup.
port until half-past one, when prices
we're turned upward, hut not until u
apparently became necessary 10 do ~ In
order To prevent the market from run
ming into panic. ID was two or three
times on the verge Of such disaster, but
certain stocks, notably Erie, the South.
western and Vanderbilt shares, were
turned upward, aud this movement
gave a steadier tone 10 the market
for the time being. Since the present
decline has set In there has set In there
has been a constant freedom OF the
market Of long stocks, which apparently
comes out in constantly increasing
quantities along with the closing out oi
fancy stocks. Dividend paying invest
ment securities are making their ap-
pearance, very many customers oi com
mission houses having been required "
repair depleted margins Mining shares
are dull and generally heavy. The new
board of directors OF the Little fitts'
burgh Company has been completed by
the selection In the place of Messrs:
Chafiee, Moifat, Jill and Bowerman, Of
Messrs. Louis Fitzgerald, ]. J. McCoot,
J. +. Carroll and VIM. Is. Onl The
"insiders' in the Central Arizona are
still holding, but the demand 10 limited
and the process Of unloading slow one.
The transactions on the Stock ES.
change aggregated 587 900 sharcs, Of
which 1900 were Union Pacific Tele-
graph. 900 Canada southern, 900
Central Arizona, $500 O., O. 4 ]. o.,
81, 600 Delaware. Iackawanna and West.
ern, 4. 200 Delaware and Hudson, l09,-
600 Erie, $500 Hannibal Il ~. yorph,
$500 Iron Mountain, 1900 Kansas
and Texas, $500 lake Shore, 800
Lake Ere and Western, $500 Michigan
Central. $4,000 Northwestern, 200
Nashville and Chattanooga, 2S,000 New
Jersey Central. l2,000 New York Cen.
tral, 10000 Northern Pacific, $1,000
Ohio md Mississippi, 40 Ontario and
Western, 1900 Palific Mail. 10000
Reading, 81 600 ST. Paul, 200 ~ Louis
and San Francisco, 5000 Union Pacific,
81. 900 Wabash and Pacific, 67 900 West
ern Union and 200 g., o., q. al. 4