The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-12-18

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srocxs-The market opened strong, and In
the early dealings advanced X 10 per cent,
Chicago and Alton, Burlington, Cedar
Rapids and Northern and St Paul and Omaha
leading in the upward movement This was
followed by reaction OF 4 to IL per cent,
but during the afternoon speculation again
took an upward turn, and with heavy pur-
chases prices rose steadily to the close Of
business, when the highest figures OF tha day
were generally current The advance in the
general list, as compared with yesterday 3
closing prices, ranged from X to 9iper cent,
the latter in Chicago and Alton, Wabash Pa
cifc, Kansas and Texas, 81. Paul and Omaha
the Granger stocks, Burlington, Cedar Rapids
and Northern, Texas and Pacific and Iron
Mountain being also prominent in the ad.
vance. Western Union was very largely traded
in, and after an early decline OF per cent ad.
yauced under heavy purchases TX per cent,
and closed at the best figures OF the day Trans
actions In the last namedsto were enormous
Single lots Of 5000 and 10000 shares changed
hands.
The Delaware and Lackawanna Railroad
Company will on Monday next, probably,
declare aquarterly dividend OF IL per cent.
The general manager and traffic agent OF the
Erie railroad says that the company has fully
three months OF freight business In sight and
secured, and transportation Is larger than
ever before known. The Erie railroad people
now begin to think that the earnings for the
new fiscal year will reach 500, 900. 900, which
will render certain payment Of per cent
on the preferred and per cent on the COM
mon stock. The upward movement in
stocks received stimulus from the
easier condition OF the money
market and adyices from Washington that the
Senate had refused to agree TO the House
resolution 70 adjourn over the holidays, which
was interpreted TO mean an early passage OF
the per cent funding bill and purchases to
cover short contracts in some OF the leading
shares. Among the mining shares the Central
Arizona was the feature. The stock was
largely traded in from 6H down to * and up
to- sS, closing ats.
The Herald has the following regarding the
recent course of this stock: We had occasion TO
say day or two back that in their attempts
to thimble rig the prices, speculative stock
holders stood a fair chance OF losing the con-
troll OF property. Fit be true, as is stated,
that every conspicuous operator, (het far back
o resident OF the Pacific s!ope) has bought ex-
tensively Of the stock az the present low
prices. our forecast may be Unexpectedly near
OF realization. The payment by Jay Gould
for q controlling interest in the St. Louis and
Iron Mountain Railroad, and in the Inter.
national and Great Northern and Texas, will
probably set ah0at several millions OF dollars.
Dispatches from Washington say: 1.-THE
Banking and Currency Committee. by two,
thirds vote, reSolE ed TO report iavorably the
bill taking away the legal tender quality OF
United states notes.
The earnings Of the St. Paul road increased
S73,000 the second week OF December The
Eastern division CT the Northern Pacific
gained $4,000, and the Chicago and Omaha
$4,000 in the same period. The Nashville
and Chattanooga earnings increased SIS, 900
from January lst to December 1st
From the Evening Posts financial article:
In the money market Q per cent has thus far
to-day been the uniform rate for call loans,
aud there Is much less difficulty IN getting
money than ever. Yesterday some money
could be more easily obtained at 8 per cent
for 80 days, per cent for go days, and even
lower for longer time. Prime mercantile
paper Gal per cent the choice names passing
as low IS 81 per cent. Heavy imports VI
gold ought TO be felt next week, II they have
not already, TO q limited extent, began TO be
felt The trouble in speculation at the stock
exchange threatens an increased demand for
money faster than The supply can be sugu-
mented until the large January disbursements
OF the Treasury begin at the stock exchange.
United States bonds are strong at 1sa1 per
cent for Is and 6s Railroad bonds strong at
an advance OF 1Sa2| per cent, the latter MIL
waukee and st. Paul. The share speculation
continues strong with the exception OF tele-
graph stocks, which at times have been
strong, although throughout very feyerish
and very weak, Western Union selling
at TX. The largest advance has been
in the stocks which have not yet
moved much and which take much less NOV
ing TO haudle than premium stocks required,
and there Is undoubtedly good deal In the
transferring OF money from high prices to
lower priced stocks. For instance we hear Of
several large spectators selling half OF the
Northwestern which they held, and on which
they haye profit OF thirty TO forty potntA and
putting money in St Paul and Omaha, which
It Is not unlikely will in the near future be-
come part OF the Chicago and Northwestern
system. Southwestern stocks are also attract
ing attention and are likely to be benefited in
price by combination OF schemes on foot,
which will reducethe expenses to minimum.
It Is said that the Iron Mountain and
Kansas and Texas companies which have
been competitors for business, will by new
arrangement save between them about 5000,
600 per year, heretofore paid in the form OF
management rebates and general competitive
expenses. The Houston and Texas opened at
an advance Of ~ per cent aud has declined
l1H. Union Pacific frsts advanced to 107X,
then declined to 106H and Is l07h "a we
write