Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-12-04
THE MARKETS.
CONDITIONS SURROUNDING BUYING AND
SELLING.
speec. 7si<cyansO as sunday Rsqss.s-.

gpeeicI IsieCTaatO lts sunday Rs0sses-.
New York, December 2.-The stock
market has been upset this week. Sugar
has yielded to the pressure of sales for
both accounts, and il is generally surmised
that inside interests have disposed of 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 investmentin inquiry at
the close of the week on the rumor that If
the company did not pay its December div
idend in cash it 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 taken
the entire issue, and therefore ii 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
TO have reached 10000 shares. Amster-
dam has also been G buyer OF Atchison,
and the Continent, in spite Of the Italian
financial crisis, has taken round amounts
of Missouri, Kansas ana Texas four per
cents, and some OF the underlying bonds
Of Northern Pacific and Reading.
National Lead preferred was sold down
on the belief that the rate Of dividend will
have to Do reduced In view OF tho 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 large short in
tereSt still remains uncovered in the stock.
Union Pacific has been favorably inf1u-
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 be asked 10 accept
4 per cent 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 probs-
bly, take charge in Mr.. Anderson's alb
seace. 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 10 make that selection.
Money on call continues to be in plenti-
full supply at } per cent, and time money
still goes begging, while commercial paper
is eagerly absorbed by city banks at 81 TO
4 per cent for prime double names and AZ
to- per cent houses not so well known.
The general trade Of the country prom
ises to have a slight impetus, prior to
the holidays, as stocks of standard goods
are reported TO be very low in first hands.
This moro 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 under cloud, and the princi-
pal 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.