Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-11-20
THE MARKETS.
4 SPECIAL REVIEW OF TIE FINANCIAL AND
COMEERCIAL SITUATION.
Movements Of Stocks Bonds and Securities On
Wal Srea. - Caale, Live Stock and Farm
Products al the Principal Dealing Centres.
80 TaI.orln Q ~ Rs5illsr.

u II I
but spasmodic raid against Sugar and Chi
y cago Gas by the Cammack brokers this
/ morning the stock market displayed IN
usual strength and closed at about the
highest prices yesterday. The Havemeyer
brokers were freel0uyers Of Sugar cettif-
cafes, and while theliquidatiOn in Chicago,
Burlington & Quincy and General Electric
was not fully completed for account Of
Spencer. Trask s. CO.. and Clark, Dodge
] 81 Co, there was a good demand by com
I mission houses which influenced q sharp
/ rally la both stocks The New York and
/ New England directors at special meet
\ ing to-day changed their minds about the
/ date for the ratification OF the
NEW YORK, NEW ENGLAND AND NORTHERN
lease, and ordered the transfer books to be
/ closed on December 18th for meeting or
the stockholders on December 21tn. The
\ coal stocks were comparatively heavy,
/ owing to the rumor Of cut in prices, and
/ Reading did not recover from the Sc
i we're pounding it received yesterday
/ from the room traders. Whiskey
I Trust was neglected, but the pool
/ announces that il will begin active opera
/ tiOns on the bull side the first Of next
/ week. General Electric was favorably in
/ fiuenced by the official announcement
/ through an advertisement that the interest
/ on the five per cent. de0entures due De-
! cember LIST will be promptly paid.
NEW York, November 1S.-The Post
/ saws. The New York surplus bank re-
| serve passed by to-day's statement TO the
/ highest figures on record. Fifteen months
after the MAY panic of 1854 the reserve
| touched S64, pa, 100, its maximum for the
year. TO-day's huge increase brings the
present total up to sos, 40, 415. The COM
parisCn is all the more noteworthy 10 that
so long a period elapsed after the panic
period Of niue years ago, before the nigh
est notch was reached. The shrinkage IN
the bank reserve, however, which came IN
the latter months Of 1885 was the sign Of
reviving activity in the commercial
mer's panic was cOnfessedly far
more severe than that OF
1884, vet there has thus far been passed
less than One-fourth the period of syagna-
ton which was req uired before the last de-
cade's cOmDlets trade revival 1t has been
very truly ss-i that if the trades Of two or
three professional operators were eltmin-
ated from this weeks market, fully three
fOurths even of the present restricted bust
ness would disappear. But what may
safely be concluded from tO-day'S tranSac-
tious is that the efforts of these active
SPECTATORS TO force down prices heavily
have failed. Outside investors, as last
weeks market proved, are not prepared to
buy but this weeks market has proved no
less effectively that they are in no haste TO
SELL
The failure OF Thurber, Whyland & Co.
had a depressing effect upon al the indus
trials. The proposed plan Of reOrganiza-
ton is of because the California capitalist,
who was to infuse $500, 600 new capital into
the concern. changed his mind.
The fluctuations in Sugar and whisky
Trust have been largely Influenced by the
advices from Washington relative 10 the
probable action of the Ways and Means
committee on the tariff bill. II the latest
reports can be credited, the sugar people
are going TO be handled without gloves, for
the bounty bin is 10 be repealed, a duty
nut on raw sugar and the tax taken of re-
fined Such a radical change in the tariff
would mean that the Sugar trust could no
longer earn dividends on the common
stock, and this probably induced the Have
meyer interests to part with some Of their
speculative holdings.
On the other hand, everything appears
to be ROSY for the Whisky Trust, as there
has been an increased demand for spirits
at advancing prices. The Ways and Means
Committee have also been judiciOusly in
terviewed on the subject Of an increase in
the Internal Revenue tax. and it is morally
certain that an extra impOst of 20 cents per
gallon will be- recommended Then again
the conflicting interests are all working in
harmony, and is the Western Directors
have covered their shorts, it is expected
that the stock will be leader in the next
whirl in the market.
Chicago Gas has also doomed into promi-
nence, on account Of the success of the
management in placing SS,4OO,OOO bonds to
advantage. This will enable the company
to resume the declaration Of dividends in
cash, and as q large short interest has &C
cumulated In the certificates, the bears
are feeling far from comfortable.
N,Urthern Pacific preferred has been
neglected, anu some anxiety is felt over
the intimation that the floating debt is
larger than the amount disclosed in the
annual report, presented by the old man
agement.
The heavy decrease in Union Pacific
earnings stimulated q selling movement
from the other side. The appointment Of
two additional government receivers is not
REGARDED, either, as a bull argument, since
IL fOreshadows the passing Of the control
of the property from the hands of the
stockholders 10 the government, and per-
haps az assessment on the stock.
The trading in W estern Union has been
restricted, but the receipts Of the company
have not fallen or to the extent that the
bears predicted. a heavy order appears
to be in the market to picku stock for the
Gould interests.
The most redeeming feature of the mar
K ct was the brisk demand for prime rail
road bonds, which are in scarce supply.
All the guaranteed stock of the New York
Central and PENNSYLVANIA roads have also
been in good request, and bond brokers'
are inclined TO the belief that owing 10 the
large amount Of idle capital at this point,
a demand VIII set in ere long for dividend
paying stocks.
Foreign Exchange shows an advancing
tendency. owing 70 the scarcity Of Cotton
bills and the Urgent demand for remitters,
who have taken advantage Of easier dis
count rates 10 sell their notes and hquidate
their indebtedness abroad.
One OF the most important transactions
Of the week was the sale OF 100000
Pittsburg. Cincinnati. Chicago and ST.
Louis AZ per cent. gold bonds to a Svndi-
cate headed by Speyer X Co. and Kahn,
Lieb 4 Co. ALFRED II. MURE.
FINANCE AND TRADE.