Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-11-12
sn,,,a, 7,l,orcm 10 N. SUNDAY REGISTER.

4OLGC0 InU A11lAOe AAEO q AObA-A NS4
ton, and speculation has only been revived
at the close of the week by the strong
front shown by holders of stocks, who hold
to the opinion that the bears have over
STAYED their market. Under cover of the
brisk inquiry for Whisky Trust, Sugar
and Chicago Gas. inside parties undoubt-
edly marketed a fair line of stocks. AT
least the Havemeyer interests are credited
with reducing their speculative holdings
of Sugar, while Mr.. Keene, who has tenn
porarily joined hands with the bear party,
relieved himself of q rather uncomfortable
load of Whisky Trust certificates and st.
Paul.
THE BEARS WERE SHORT
of ammunition to induce the dislodgement
Of long STOCK, and avicious drive was made
against Atkinson, on a revival of the ru-
NOR that the company had been refused a
loan by Amsterdam bankers, and would
not bs able to build its proposed extension
to the Cripple Creek mines. President
Reiuhart was extremely vehement in his
denunci alton of any unfGvorable develop
ments about TO be disclosed relative to the
financial condition Of the property, and
claimed that although the October earn
ings were disappointing, the company will
be able to earn q handsome surplus over
fixed charges for the current quarter. o
There were two bob-tail pools formed in
Reading and Chicago Gas, based upon the
more favorable condition Of both proper
ties. The Benedict party are confident
that Chicago Gas will earn close upon
g., 500, 600 net for the fiscal year, after pro-
viding for improvements and extension OF
mains. The officials of the company also
hope to be able to market a portion OF tho
bonds now held in the treasury OF the
Peoples Gas, Light and Coke Company,
and with the proceeds fund the floating
debt and return to the stockholders, Ia
cash, the profits diverted from them dur
ing the recent financial depression.
A syndicate is likely to be formed to buy
the July coupons of the Reading As, to JUS
tify the receivers in paying the December
interest on other obligations. The final
adjustment of the Speyer loan was made by
securing an amended decree Of the Court,
and the Reading Company has no loans to
meet before next March, so that it is in O
position to use all its net earnings for the
OF TIE PROPERTY.
The plans Of President Mcleod Of the
New England have recently received sew
eral set backs. The most important one Is
the new train service inaugurated by the
New Haven road between Boston and
Washington, which virtually shuts out
New England from the greater part Of its
paying passenger traffic, although tempo
rary concessions have been made by agree
ing to haul the New England coaches over
the New Haven tracks. The proposed al
lance between the Lehigh Valley and
New England roads has fallen through be-
cause the former has preferred to feather
it's nest by interchange Of traffic with the
New Haven TO the coal regions. The Nc
Leod people are not respondent, and claim
that the work on the new Independent link
to the Harlem river will be pushed to com
pletion and be opened for traffic by Janu-
airy l, 1895.
The short interest in the Changers has
been 80 unwieldly. that quick rallies have
been the order of the day, the moment the
Wheeler and Cammack party attempted to
cover. outstanding contracts. All the
Western roads have lost enormously In
traffic since the closing of the Worlds Fair,
but operating expenses have been largely
reduced, so that there will be little change
IL the net surplus, compared with the cor
responding period in 1892.
The Louisville, New Albany and Chicago
is one of the Western roads that
SHOWS A STEADY IMPROVEMENT,
and uud er the new re. organization, the COM
pany has been able to make a net profit Of
$225,0U0, for the first four months Of the
fiscal wear. This result has induced the
MANAGEMENT to issue $4,000 shares pre-
ferred stock at 40 TO be subscribed by the
preferred and common stockholders In
the proportion Of one-eighth Of their
present holdings, the proceeds to be used
In paving the balance duo on equipments
purchased to cope with tho Worlds Fair
traffic. The company has no floating debt
or car trust obligations outstanding, and
the intention is to inaugurate semi-annual
dividends on the preferred stock next
January at the rate OF 4 per cent. per
annum.
Wheeling and Lake Erie securities have
doomed into prominence owing to the ex-
ceilent exhibit made in the annual report.
The volume of bituminous coal traffic is
also so encouraging, owing to the differ
ences between the Ohio mining interests
having been satisfactorily adjusted, that
the management hopes ere long to be able
to raise the rate of dividend on the pre-
ferred stock from 4 to 5 per cent.
Sugar and Whisky Trust have ~iuctuated
according to the guesses made by Wash
ington politicians as to the probable rec
concentrations in the new tariff bill. The
weight Of opinion favors an increase in the
internal revenue tax on distilled spirits OF
nearly 20 cents per gallon, while the ad-
miniStration would like 10 repeal the sugar
bounty and impose a slight duty on raw.
THE Low PRICED ~sPECIALTIEs
have been neglected, but a revival of spec.
ulation is looked for in Northern Pacific
preferred and Union Pacific, as soon as
the Receivers are able TO announce the
new programme for friendly alliances that
will lead 70 the maintenance OF rates.
The general trade of the country is not
much brisker since the result OF the cleo
lions, and the sharp drop in the price OF
steel rails is not regarded favorably oy the
iron men, although it is conceded that the
break may result in a larger volume Of
business, Domestic spinners continue 70
absorb the bulk OF the receipts of cotton,
so that commercial bills are scarcer than
they were ten days ago, and foreign *
change shows an advancing tendency.
Time money is offered in such round
amounts that the trust companies find it
difficult to induce borrowers 20 pay 50 per
cent for 90 day contracts on mixed COLA
teral.
The mechanical rubber men say that
business ia October was better than in
September. and the inquiry comes chiefly
fromemanufacturers for betting and hose,
which is regarded as a sign Of q revival
among the industrial establishments. The
boot aud shoe rubbf- men are doing re-
markably well. but me crude rubber mer-
chants still complain of poor business.
New York Weekly Bank Statement.
New YORK, November 1.-THE weekly
bank statement shows the following
changes: Reserve, increase, 8, ISIS, 275;
loans, increase, $500, 700; specie, increase,
81, 52S.0 90; legal tenders, increase, s6,96s, 200;
deposits, increase, E,S2f,SOO; circulation,
decrease, $4,000. The banks now hold