Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-06-23
FINANCE AND TRADE.

Money Per Cent.-Governments Weak =
Stocks Lower Flour Quiet and IN
changed-Wheat Higher.
New YORK, June 2l.-Money unusually
active; call loans advanced TO II per cent,
closed at per cent. Prime mercantile
paper 5(a6 per cent. Sterling Exchange,
bankers bills weak at 4S34; demand
ASH
GOvERNMENTs-Weak on sales of specula-
tive holding.
Threes ..................1OGS
FOurs and-a-haf
Pacific Skies Of Is95........... . =.
RAILwAYs-Lower, especially for Union
Pacific issues. The sinking funds broke to
100 and the 6rsts to l0S.
STATE SECURITIEs-Dull.
STOCEs-The exchange was to-day the
scene of great excitement and fluctuations
were frequent and violent. At the opening
the market was lower and prices fell off / to
! per cent for the general list and ls@32
for Pacific Mail and Michigan Central. The
decline was due to reports that leading
clothing concern was in trouble, but this was
subsequently denied. About l0:l5 it became
known that a large amount of Lackawanna
had been called in and the bears Immediately
startedto cover, which resulted in large ad-
vance. Lackawanna and Missouri Pacific
were great features Of speculation, the for
mer rising 81 per cent. to los and the lat
Ter 81 to 100. Cash stock was worth J to
| per cent more than regular and as high as
II per cent was paid for use of Lackawan-
ma. The other active shares also com
manded a premium for use. The
sharp rise in Lackawanna and
Missouri Pacific had favorable
effect on the general list and prices rose
10 per cent. Western Union sold up 3 to
81. Union Pacific q to 27S, Lake Shore
p to ~, Chicago, Burlington L Quincy
. to Ill, Northwestern q to 90f, Louis
vile and Nashville q to 90, st Paul q to
67t, New York Central q to 1909, Rock
Island It to ll54, Pacific Mail q to 3Sb,
Illinois Central "a to ZIG, Northern Pacific
preferred II to 44t, and Reading Il to "a.
The advance brought about reaizations,
and Missouri Pacific fell off tn 94l, Lacka.
wanna to 1921 and the remainder of
the active list / to per cent.
When the bank statement was made public
a fresh buying movement set in and prices
rallied J to "a per cent, outside of Missouri
Pacific and Lackawanna, which rose ls9
81 respectively. The exhibit of the asSo-
clated banks was very favorable, showing
gain in the reserve of $3,033,575, which
places the amount held by the banks above
the legal requirements at $l00lS,075. Late
in the afternoon the bears started O story
that c. p Huntington and some of his cor
pOrations hai failed or were embsrrass-
ed, and money was bid up rapidly TO
1872 per diem. simultaneously drives were
made against nearly all leading stocks and
prices were forced down to ~ per ceut in
the general list and 56,6 per cent in Lacka-
wana and Missouri Pacific Central Pa
cifc fell of Al to $50, Canada Southern L
10 324, Quincy q to 1881, Northwestern
1 to S6l, do preferred p to l2O, st. Paul 4s
to 63s, Rhode Island q to 1929 Lackawanns
to 100, Louisville 4 Nashville p to 26l,
Lake Shore 1t to 73a. In the
last fifteen minutes the market was
frmer, and there was general recovery of
/ to 2 per cent, viz, St. Paul II to Gag, -.
Central Pacific II to 81, Lake Shore / to
TAI, Northwestern to S7a, Rock Island IL
to 1904, Union Pacific l to $50, Western
Union l to 55s, Pacific Mail l to STl,
Pullman /. to est, Missouri Pacific l to
95. Michigan Central, however, continued
weak and closed at 81. In the last hour
there were $500 shares of Lackawsnna,
St. Paul and Western Union bought
in under the rule for non-6eliv-
ery. The result of the wide fluctuations
to-day was to leave the market irregularly
changed as compared with last night,
though majority were lower, viz: Canada
Southern per cent, Chicago and Alton l,
Central Pacific q. Erie preferred e3, Hi
nois II, Long Island II. Michigan Central
2f, Missouri Pacific preferred II. ST. Paul
II, the other declines being fractional