Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-12-03
THE MARKETS.
CONDITIONS SURROUNDING BUYING AND
SELLING.
The Attack on Whisky Trust Due 10 Possible Leg
islatOn-Chicago Gas the Strongest Indus
trial-4 Stronger Demand in Europe for
American enthusiastically DOngs All
Along the Line.
sp,cio. 7.leorgmto II. sunday Rsga,e-.

New YORK, December 2.-The stock
market has been upset this week. Sugar
has Welded 10 the pressure Of sales Tor
both accounts, and il is generally surmlsed
that inside interests have disposed d the
bulk OF their speculative holdings.
The attack on Whisky Trust was due to
the fear that the Ways and Means Com
mittee had made up its mind not to impose
an extra tax on distilled spirits. Inside in
terests have been buyers, however, OF the
stock all the way down.
The strongest stock in the Industrial
group has been Chicago Gas, principally
on the demand from the short interest.
There was also a fair inveStmentinquiry at
the close of the week on the rumOr that If
the company did not pay its December div
idend in cash il would do so at its March
distribution. The syndicate which was
formed to buy the bonds Of the Peoples
Gas Light and Coke Company has K
the entire issue, and therefore 1t IS reason
ABLY certain that after the company has
liQuidated its debt for construction purpo-
ses and improvements il will be able to
meet all future obligations in cash.
One Of the good effects of the tariff bill
has been to stimulate a demand for Amer
lean securities from the other side. Lon
don has bought freely all week, and her
purchases of St. Paul alone are estimated
10 nave reached 10000 shares. Amster-
dam has also been a buyer OF Atchison,
and the Continent, in spite Of the Italian
financial crisis. has taken round amounts
OF Missouri, Kansas and Texas four per
cents, and some of the underlying bonds
OF Northern Pacific n Reading.
National Lead preferred was sold down
on the belief that the rate Of dividend will
have to ba reduced in view of the tariff
changes, which affect all lead ores.
Northwest has been the strongest OF the
Vanderbilt stocks and the room traders
pool is still at work, while a large short in
terest still remains uncovered in the stock.
Union Pacific has been favOrably infu
enCed by the harmonious negotiations pro-
posed by the Committee on Reorganization
for the rehabilitation of Of the property,
One OF the most popular suggestions IS 10
issue a blanket mortgage, which Will make
the Govern nent a creditor at the rate OF 2
per cent. interest, while the holders OF
the first lien bonds will 6e asked 10 accept
4 per cenS interest. Receiver Anderson left
to-day for Omaha, and it is expected
that on his return, some important an
nounCements will be made relative to the
payment of overdue interest. Receiver
CLARK, the former President Of the Com
pany, is on his way East, and will proba-
bly, take charge in Mr.. Anderson's abb
sence. The appointment Of Mr.. Coudert
as a co-Receiver for the Company, is ex-
pected 10 be made early next week, as all
the interests have applied to President
Cleveland TO make that selection.
Money on call continues TO be in plenti-
full supply at per cent, and time money
still goes begging, while Commercias paper
is eagerly absorbed by city banks az 3I5 to
/ per cent for prime double names and IA
tO5 per cent houses not so well known.
The general trade of the country prom
ises 10 have a slight impetus, prior to
tue holidays, as stocks Of standard goods
are reported to every low in first hands.
This more directly applies TO silk goods
and novelties, although the boot and shoe
trade has seldom been better. Furriers
have been complaining on account of the
mild season. and several extensions Of
paper have been asked by leading houses.
The rubber business is on the mend. and
the railroads are buying more freely from
mechanical rubber concerns. The steel
trade is still uUder a cloud, aud the princi-
nal railroads are not ordering the large
lines that were expected at the reduction
from the rates charged three months ago,
when the steel rail combination was in full
swing.