Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-11-26
THE MARKETS.
ARESUMg OF WHAT IS GOING ON IN CON-
MERCIAL CIRCLES.
No Truth in the Report That the Western Union
is to Absorb the Poslal-Moyamens Of Stocks
Of All Substituting in all the Speculative
Commodities
an.etnl rslecran % bad snnaau R.o.stsr.

Speeirl Tslscram 10 ns sunday Rooster
New YoRK, November 25-Speculation
on the Stock Exchange has broadened con-
siderably this week, and a good investment
inquiry was developed in all the dividend
PAYERS. The scarcity of bonds forced cap
italists to turn their attention to stocks,
and there are some monied men who are
taking a speculative chance in buying the
Changers and Western Union, even at the
extreme rally established at the close of
the week.
The more confident feeling in business
circles has been primarily responsible for
he more buoyant tone in Wall street, al
though there are many conservative opera
tors, who are holding aloof until the con-
tents of the proposed tariff bill have been
fully digested. The guesses made as TO
the programme of the Ways and Means
Committee are in the main incorrect, al
though il is generally known that the pro-
posed measure TO be submitted to Congress
N December will be more radical than at
first predicted.
REPRESENTATIVE wILsON
is said to have been urged by President
Cleveland TO follow strictly theiines Of the
Democratic policy, even il he should hurt
the feelings of the coal interests IN West
Virginia and the iron men in Pennsyl-
vania.
The sugar and whisky trade will prob
ABLY be most deeply affected by the new
- Nm .4I #hNeo ufNsirc hoVrn HuPf1QfAh
according TO the Interpretation given by
the friends and enemies in both properties
of the prediction as 10 the amount Of duty
imposed on raw sugar, and the tax to be
levied on distilled spirits.
The Southern railroad socks, more par
ticularly Louisville and Nashville, have
been depressed, because Of the proposed
reduction of the duty on steel rails and
iron. It must not be forgotten, however,
that the principal customers OF the Biz
mingham mill are IN ST. Louis and the Tar
west, so that goods of foreign manufacture
could not possibly come into competition,
owing to the heavy freight from the sea-
board, that would have to be charged.
UNION PACIFIC
has attracted more attention because Of
the progress made by the prominent inter
erts in the property for a plan OF %reorgani-
zation. A special committee, with Senator
Brice as chairman, will be appointed next
Monday, and it is understood thai all the
security holders will work in harmony.
The Northern Pacific directors have
taken the initial steps for the removal OF
Receiver Cakes, who will undoubtedly
make q strong fight 70 prevent his retire
ment. The December interest on various
issues of bonds, amounting TO over 81, 800
nON ,-,11 not no mot with the nWpnnt10n
perhaps. Of the Duluth and Manitoba
bonds. which call for a payment OF S42,OOO:
Several plans for the reorganization OF
Erie are under consideration, and after the
annual meeting next Tuesday, the receiv-
ers will devote their time 10 harmonizing
the conflicting interests. 1t has been de-
cided not to pay the December interests on
the second consolidated bonds, as the idea
is TO retire them altogether and substitute
a preference income bond, on which the
interest is TO be paid only If earned.
There was an absurd report current at
the close Of the week that the Western
Union was to absorb the Postal Telegraph.
Mr.. GOgld promptly denied thes story, and
said there was no necessity Tor al amalga-
nation of interests, as there was no cut
ting of rates, both companies hav-
ing agreed to strictly adhere to
AUNIFoRM TARIFF.
The LAWYERS of the Richmond Terminal
reorganization syndicate have been in
structed TO push proceedings for the fore
closure of the East Tennessee and Rich
mord and Dauville properties. The
Drexel-Morgan people are anxious to have
the roads in their hands before ~eXpending
anv more money on improvements, and it
is unlikely that any further assessment
will be called on the securities until the re-
ceivers have been discharged.
The Granger properties were all in good
request in spite of the falling oil in pas
senger traffic. The heavy selling Of st.
Paul by the Rockefeller interests was of
set by purchases for London account.
Atchison was alto taken freely by Amster-
dam bankers, on the assurance that the
cOmpanv,s finances wore showing a de-
cided improvement, while the reduction IN
the volume Of earnings will not be so
marked next month after the grain crop
begins TO leave distributing points along
the road.
Dry goods merchants have been talking
more hopefully, and are pleased with the
prompt collections reported in the South
and Southwest. The boot aud shoe trade
is in q fOurishiug condition, and good
prices are being obtained on q large vol
ume OF business. The crude rubber men
report a decided Improvement. Stocks are
low and prices are advancing. The rail-
roads are buying freely Of air-brake and
steam hose. which has impaired an Grtii-
cial buoyaucy to the dealings in mechan-
zeal rubber goods.
Time money has gone begging all the
week AZ 3 per cent for 80 days and 81 per
cent for longer periods on mixed collat-
eral. Commercial paper has been readily
discounted at I 10 50 per cent for choice
names and the supply is limited, as the
Northwestern elevator interests have no
moro paper 20 dispose OF at present in this
market.