Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-11-23

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NEW YoRK. November 22.-MosEY-
/ At 6S2S per cent, closing at per cent.
offered. Prime mercantile paper, 6@7H
per cent. Sterling exchange, bankers bills,
steady at 4T9N; demand 4s4.
GoyERNNESrs-Irregula but generally q
| per cent lower.
ThTees extended - .lelX
riNeS extenooo
Fours and-e-half coupons ......-..ii31s
Pacific Skies Of 1896
RAILROAD BosDs-In the main higher.
STATE SncuRITIEs-Neglected
SroCKs--The day opened with great ex
element on Change, and the dealings up
to noon were on q scale Of great magnitude
The sales of stock up TO noon were 10000
shares, which il beyond all precedent for
two hours business. In the early transac-
items large supporting orders were in the
market, and timid operators rushed in to
cover their purchases leading to the adj
quotations yesterday. This was fol-
lowed shortly before the first call by
a radical change in the temper OF specula.
ton, and the "bears" soon were in complete
possession Of the market. Those who had
stocks at the opening threw them over
board, and large telegraphic orders were
received by brokers 70 sell, both from east
and west. At different times during the
morning the market was greatly democrat
lied, and the haste TO dispose of stocks
caused declines OF l@2 per cent. between
sales in many instances. About noon a
decided change for the better set in and
prices recovered 1@2 per cent. There
were full purchases TO cover short contracts,
and also considerable buying for
investment. Some bankers also
received through the cable considerable
I'LL, IL.
red, Denver and Rio Grande, Central Pacific
snd Louisville and Nashville. The market
continued 20 advance up to the close of
business, and not only was the early decline
recovered but higher quotations than those
carried at the close yesterday were est4b
hshed in many instances. The transactions
were simply enormous and considerable
excitement prevailed. The advance from
the lowest point was 4 to 5A per cent, the
latter on Canada Southern, which sold up
TO 67H. Western Union rose ~ per cent
to sl3s, Northern Pacific to A. preferred
2s% to 81, Oregon Continental 81 to
S3A Michigan Central 81 To ok, New
York Central 3 10 l2S, Delaware, Lscka-
wanna and Western to 1917 New Jerisy
Central3A to 81, reading 81 toJ0A, Kansas
aud Texas 37z to 3IM, Texas Pacific ~ to
50, Missouri Pacific AS to 1925. Union
Pacific . TO 1865, Louisville and Nashville,
81 to 311t, Denver and Rio Grande 81 to
AK. ST. Paul and Omaha to Az.
preferred "a to l02X; Milwaukee and st.
Paul 80 TO l03, and North Western 81 to
134A.
These were the leading features Of the
market. 1t appears that several of the
prominent spectators, including some OF
those who have recently been on the "bsar"
side Of the account, were heavy buyers OF
stocks this morning, when there was a
sharp decline which forced a great many
local holders into selling. Whether these
operators have bought Tor turn with
view TO frightening the short interest into
covering, or whether they have decided to
enter into prolonged movement on the
bull" side, time will tell. Accompanying
the advance this afternoon were reports
that upon the arrival of the officials OF
the North Western roads, who are now on
their way to this city from the West, and
the settlement of the existing difficulties
would be speedily arranged. Among the
>pecialties, st. Paul and Manitoba ad-
vanced TO l419, Fort Worth and Denver to
39A Indiana, Bloomington & Western to 80,
Richmond and West Point terminal 10 25
At one time during the day rumor OF
trouble in the Trunk line pool was current,
but this was subsequently denied. Officers
of the Northern Pacific road, who were in
consultation with the land syndicate, Off
cially state that preferred stock TO be given
in payment for land will be bought in pr
open market, $4,000 shares, and that a
ton has already been bought. When the
full amount is obtained, $1,000 shares will
be cancelled. The stock firm of Buttrick &
Gilman, which suspended to-day, is eX-
pected to resume within the time allowed
by the rules. The exchange members re-
fused this afternoon TO make public reason
for suspending, but the officers OF the ex-
change expressed the opinion that they
were loaded with securities upon which it
is difficult 10 borrow, and as margins
are very great were unable
to keep up with the market. No
other firms will be affected by the suspen-
sicn it is thought
The Mail and Express says: The intense
depression and great shrinkage in values
on the Stock Exchange this morning after
the heavy decline which had previously
taken place, naturally formed the all
absorbing topics of discussion in financial
circles. Beyond the railroad war in the
northwest, the crops of 1882 are unusually
abundant, our exports of produce and mer.
ChandiSe steadily increasing, the rates ot
sterling exchange nearly down to the
specific importing point, and the general
business OF the country prosperous and
healthy. The influence of these favorable
factors will be felt when the people shall
have recovered from their present scare
and Generalization for which no good rea-
son exists. Already investors are coming
into the market, and to-day num-
Der of commission brokers were
buyipg dividend stocks for people
who pay for and put them in tin boxes.
In no quarter is there any prospect OF re-
duction of dividends, but on the contrary
the prospects are in favor of an increase in
dividends in the future, Missouri Pacific,
Union Pacific and the Western Union be-
ing among the companies mentioned as
likely 10 adopt this policy.
Commercial Bulletin.-At the opening
the market showed ar improved tone, on
information that several Of the large spec.
ulators, including Keene. had met the pre-
yious evening and decided on purchasing
stocks. 1t was soon discovered that gentle
man was selling instead of buying, and the
result was a rush of orders To part
With stocks which completely demoraliz"d
the market, the disposition still being
further increased by the sale of long stock,
particularly Michigan Central
Transaction $4,000 shares.