Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-10-03

STATE SECURITIEs-Fsirly active and
strong.
RAILWAYS - Transactions in railroad
bonds to day amounted to S2,6l8,000.
SToCKs-Perhsps never before in the his
tory of Wall street have there been such i'm
portant failures hat were Immediately fol
lowed by such slight changes in quotations
as those taken place this week. Although
prices this evening are lower than
they were this morning, the
charges as compared with last
Tuesday evening, before there was any gen.
eral suspicion Of trouble anywhere, are IN
important. Following a failure such as
that of VIM. Heath & Co., which occurred
this morning and in which there was an
enormous short interest to be settled, the
first immediate result is always supposed to
be an advance in prices, growing out Of
necessity on the part Of brokers who had &C
counts with such as Heath & Co. to protec;
themselves by purchase Of the stocks in
yolyed, the difference to be settled subse-
q~uently, yet the market to-day, which
opened somewhat irregular and teverish and
ook no decided course in either direction
prior TO the announcement of the suspen-
sion, which was made shortly before noon,
advanced only for fractional amoun's, and
before the close of day all the advances and
something more were lost There was an
apparently unlimited quantity Of stock on
hand at current quotations aud when the
purchases had been made which closed the
accounts, 90 far as the Exchange was con-
cerned, of Heath l. Co., there was
a weak but dull market, with
only slight spasms of activity until late in
the day. During the last hour quotations
settled to q figure generally a little above
the loweet of the day, and 80 remained IN.
Ill the close of the market, closing steady
to firm at q fraction above the lowest price.
Louisville and Nashville lost IL, Omaha
common l, Denver and Rio GIande Ii, and,
with these exceptions, not a single stock on
the active list lost as much as l per cent,
and not one made any advance. tits prob
able that some of the intimate friends OF
The suspended firm were cognizsnt
of the impending announcement, and
before it became known on the exchange
that the firm had suspended had bought in
their stocks. 1t is generally understood that
the house of Heath 4 Co. was short of about
1901 OO shares The total business of the
day was unusually large, amounting to 423,.
900 shares. The failure of Henry n. Smith,
which was the cause Of that Of Heath 4 Co,
removes from the market one of the most
persistent bear operators known in Wall
street for several years. 1t is, therefore,
claimed by prominent bull operators
that the result will be to strengthen
the bull party. If to the
account that was bought in
fer Heath & Co be added the short &C.
counts of other bears" it is probable the
purchases to day for short account were be-
tween 10000 and 200, 900 shares, or nearly
one-bsf Of the days business. Of course
this furnished the bulls with q market for
that amout of stock, thus placing them in q
position to purchase again at any material
decline that might follow. The railway sit.
eation, they claim, is more favorable than
or some time and they are consequently to-
pigbt p: edictng II ct the result of the fail
ures OF the current week will be decidedly
svorable to future operations.