Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-11-05
BEARS IN CONTROL.
SHARP DECLINES IN STOCKS NOTICEABLE
ALL WEEK.
The Industrial Stocks Affected by Possible Legi8-
lafon-A Scheme Worked on the Holders Of
Virginia Debt C,rtfcates-J. M. Mason West
Virginia Supposed to bo Working It
s...t.l r.,lnrnm 10 IN Rsai,tsr.

Syset5g 7slS0rGmt 20 hs Register.
NEW YORK, November 5.-The bears IN
the stock market have been in full control
all this week and sharp declines were re-
corded in the active stocks.
The heavy selling for London account in
the early part of the week was totally IN
expected.
Local bulls were also thoroughly dis
organized on the large offerings for West
ern accounts, for it was generally believed
that with an Improvement in railroad earn
ings a fresh impetus would be given to
values, notably in the granger stocks,
Atchison and Union Pacific.
The manipulative tactics employed by
the bear party were so skillfully conceiv-
ed that many small spectators were en-
quilted in the declining tendency of the
market.
Mr.. s. V. White and his following were
90 severely punished for having bid up
the prices of Western Union and Sugar
bevoud the wishes of insiders that they
have not cut a figure since the collapse in
values in occurred.
The holders of industrial stocks have
been very fdgety Of late, owing to the fear
that the recommendations to be made by
the Ways and Means Committee will dis
tur6 their vested interests.
1t is certain that the Whisky Trust people
will be disappointed at the amount Of tax
that will be imposed on distilled spirits,
while the sugar clique expect that q small
tax NAV Oe levied on raw sugars. The
sharp drop in the prices OF rehned sugar
also demoralized speculative operations IN
the certificates, and at the close or the
week q number Of stop orders were caught.
The announcement that Japan had de-
cided 10 adopt q gold standard was a sur
. mise but il did not arouse the same inter-
est "a the publication of the special cable
reosiyed bv the New York Produce Elk
change Bank today from the correspor-
dent, stating that Chile expects soon to un-
6ertake TO return to q gold basis.
mis- new policy is expected to involve the
withdrawal of large amounts OF gold from
the London market AID America may nave
some difficulty in securing a round amount
NJ the precious metal, even IL foreign ex-
| change fails 20 the gold importing point,
around which il has been lowering Tor the
past twenty-four hours.
TIE timely exposure of a scheme to mis-
lead the holders Of the West Virginia oeot
certificates attracted q great deal OF atten-
ZION to-day but il is thought that a warn
Ing has probably been given IN TINE 10
! those who haye not had an opportunity OF
comnucicating with the original committee.
An advertisement was published in the
Baltimore and New York papers purport-
ing to convey the information that tue Ad-
! instment Company, of Baltimore, had un-
certaleu a settlement Of the Virginia
dent and West Tirginia's share or same,
aud that certificates Of all classes,
including the receipts Of the Farm
ers, Loan and Trust Company, might be
denosited at the Mercantile Trust and De
p9sit Company, OF Baltimore, and the Vir-
! cinia Safe Deposit and Fidelity Company,
| OF Richmond, under an agreement dated
| October 10th, 1898. The pl6n OF sestlement
was 10 be unanimously approved oy
an advisory board consisting of Charles
Frsncis Adams, OF Boston; ". Pinc1ney
! Wkite. Of Baltimore, and Holmes Conrad,
Of Virginia.
The hint was carefully dropped that q
| charge of 81 for each $1,000 OF certificates
5anosited after December l, 1893, would oe
/ made, and the plan must De accepted oy
tro-thirds OF the depositors on OF
! bsfore March 4th. 1894. 1t appesrs that
Mr.. J. n. Mason, a discharged employe
! of the Farmers Loan and Trust Comp
/ any OF this city. To which he is alleged 70
! be Indebted 81, 500, is behind the scheme
| md on this unexpected phase N the sltua'
| ton Sir. J. G. MGban and Mr.. b. c. Fan.
nasrocl5. OF the New York Committee,
| ssid: 1--WE believe that the advertisement
is movement on the part Of Mr. Mason,
VIII was formerly in our employ. The
New York Committee has on deposit
under control Of the Farmers Loan and
| Ernst Company of New York
substantially all the certificate:
! in question, and they cannot be withdrawn