Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1886-12-16
FINANCE AND TRADE.

Money 10 e cent. per Annum to 1-2 per
II Diem Governments Dull and Weak
Stocks Lower and P~anicky-Flour I'm
changed-Wheat Lower. r-
NEW YORK, December 15.-MOney on call
was extremely stringent, with an active de-
mand, ranging from 10 per cent per annum
to J per cent per diem and interest. The
last loan was made at per cent, closing
offered at and interest; prime mercan-
tile paper 4a5c; sterling exchange dull but
firm at 81. 90a4. S3i.
GOYERNMENTS-Dull and weak.
Threes
Fours Coupons.."-....-..
Fours and-a-half EX-lntereSt
Pacific Skies of 1895 EX-Interest. .l2J3
STATEs-Dull and steady.
RAILRoADs-Were completely over
Swallowed by the excitement in the share
market, and the trading was devoid Of in
tereSt.
STOCKS-0ver one million shares was
the total business in stocks to-day, which
has never before been equalled in the
history of the Exchange, and but seldom
approached. The panacky feeling devel-
oped in the past two days spread to the
more substantial stocks and the pressure
to sell exceeded anything ever seen in the
Board room. The Bears began the attack
at the opening, but orders to sell for both
sides of the account were overwhelm-
ing, the only desire seeming to be to
get out. Demands from Brokers
for more margins remained unanswered
and closing out sales were a large proper
ton Ofthe business done. The attendance
at the Board was greater than ever seen
before and every broker nearly had orders
10 sell at the market. The excitement
was intense, the feeling bordering closely
upon Il panic. The foreign buying aided
to check the first decline before the end of
first hour, but the pressure was again re-
newed and stocks which had held
up well under the first slump
then gave way with u rush.
Toward the end OF the session both bulls
and bears became alarmed at the magni-
tude of the decline and buying orders were
freely given out, resulting in n marked
recovery over the entire list. 1t was also
reported that several influential operators
who have been credited with desire to
see a material decline had begun to buy;
this induced 4 free covering of shorts which
helped the final rally. The money market
worked extremely hard, the rate running
up to as high as } per cent per day. The
New England was one of the chieffeatures,
the selling of the Boston interest being re-
newed with spirit this morning, which pro-
vOked short sales by the New York ele-
ment, and the stock broke very badly.
Reading also, Notwithstanding the publ
cation Ofthe plan of reorganization, broke
ten points. Only one failure was an
nounced on the Board although rumOrs of
Others were thick at one time. The open
ing was extremely weak, declines from last
evenings figures exceeding l per cent.
for Il large number of active
stocks, while Reading was down p. De-
clines in the first few minutes ranged up
to 6 per cent. Toward the end of the first
hour a slight rally occurred, the Changers,
Trunk Lines and Union Pacific displaying
considerable strength. The market was
feverisn and irregular, however, and an
other slump soon followed, New England
and Reading leading the decline. The ex-
IRENE activity was largely decreased
after II o'clock, accompanied by slight
IecOveries in stocks. The downward
movement, however, was again resumed,
Manhattan assuming the lead. In the
last hour a general rally took place and
material advances over the lowest figures
were recorded. The market closed
active but firm at the recovery.
Jersey Central is the only stock
on the active list showing an advance,
its gain for the day being :, New England
lost 81, West Point 6s, Reading 81, Man
haitian and Tennessee Coal and Iron 5
each, Omaha Al, Missouri Pacific 81, Cam
ada Southern, 81, Lackawanna, 81, Hook
ing Valley 81, Pacific Mail b, Michigan
Central 3, and Others from l to 3 per cent.
Transactions 81, 0SS. 434,.shares. Quotations
closed bid rs follows:
Adams Express 136; American Express
LOG; Canada Pacific 66s; Central Pacific
AT; Chesapeake and Ohio g.; do preferred,
firsts Il; do seconds 81; Chicago and AL
ton, 40; do preferred 100; Chicago, Bur-
lington and Quincy 1874; Delaware and
Hudson, 1908; Del. Lack'a and West 1891;
Denver and Rio Grande, 3li; Erie 33t;
do preferred 693 Fl. Wayne, 143; Illinois
Central, 100; Lake Shore, 92s Michigan
Central S9l Minneapolis and st. Louis, III;
do preferred, 4O!; Missouri Pacific, 1861;
Northern Pacific, u; do preferred, cog;
Chicago and Northwestern, ll1:; do
preferred, 13S; New York Central 1ll!;
Oregon Transcontinental, 81; Pacific
Mail, A; Panama, SO; Peoria, D. & E.
27f; Pittsburg, 14s; Pullman Palace
Car 1856; Reading, 365; Rock
Island, l243; St Louis and San Francisco,
Dot; do preferred, So; do first preferred,
113; st. Paul, Minneapolis and Minnesota,
114l; st Pauland Omaha As; do preferred
I'LL; Texas Pacific, 2Oi; Union Pacific,
cit; United States Express, e.; Western
Union Telegraph 702.
DRnnrrE