Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-03-09


Bankers More Cheerful and Rep orr the
Situation strengthsning-stoc Aar<et
higher. Wirh sugar san the Feature
SDsaai Ts,swan 6, ne Rsgissr.
NEW YORK, March s.-Wlth the i'm
proving tone Of business at this point.
the financial situation is also brighten
ing, and both on the Stock Exchange
and throughout the minor financial
markets there is more activity than
has been perceptible in many weeks.
Bank presidents express more hope
full feeling in the situation, owing to
increased business In many Of the
larger industries, and 20 the better de-
mand for loanable funds by mercantile
houses. They also report q material
increase I'm loans from stock
brokerage firms, indicating q widening
of transactions of the Stock Exchange.
Dealings are now more animated and
the volume of business larger, while
the tone of the trading is characterized
BY more strength than has lately been
exhibited. The railway share list shows
Improvement, and although the bulk OF
buying orders emanate from profess
slonal sources, it is noticeable that the
speculative public are gradually drift
ing into the market again. The shorts
in Western Union and the Changers are
rapidly closing their contracts; the
movement ia Sugar causing a retreat all
along the line. The excitement In
Sugar IS subsiding but the stock is very
strongly held. As a whole the market
IS fairly strong and the tone seems
favorable TO present prices being well
sustained.
Government bonds are steady, with
prices firm but unchanged. Railway
bonds are strong and advancing; the
following being the most important
late advances: Erie I'd cOnsOls, 2 points
TO IS; Richmond & w. p. Terminal SIS,
Is TO 22T(; General Electric debenture
SIS. Is TO s415; Rock Island extension
SIS. : TO lO13; Knoxville and Ohio
/ I SITS, 1 90 1O3 Toledo, Peoria and West
ern sts. x 20 971(; Atchison As, IS TO
70, and oregon Improvement SIS, IA TO
54.
The market for time money exhibits
/ no material change. The supply con-
tinues superabundant at / per cent on
I call. Q per cent for sixty days, 5 per
cent for six months and 4 per cent for
/ longer periods up 70 eleven months.
/ Bankers report a slightly better de-
mapd. bur offerings continue large and
seem likely TO continue so, unless an
extensive currency export movement
should set in. The banks however
have regained control Of the market
and are exerting their efforts 20 sustain
rates. AS to the probability Of an ex-
mort movement, there is q divided opin-
ion among bankers. Many argue that
the scarcity of bills OF all classes, and
the disposition shown by debtors to
Europe. Will cause a continuance OF
gold shipments, but others point out the
heavy reduction 10 American imports;
the reduction In the price of American
gold aud the lower rate OF discount 10
London as reasons why it should not go
abroad.
10 is also argued that the current
rates for sterling insure no profit in the
operation, and this together with the
trade balance being in our favor, should
restrict shipments. The only premium
that European financial centres are
now Offering is the interest allowance
which is made on gold in transit. Since
January LIST, the total exports of specie
have BEEN So, 996, 491, comprised Of
IS, 567, 725 gold and 81, 42S, 700 silver.
In commercial paper there is more
active demand at 3 to 81 for best en-
dorsed bills, 4 90 ~ for highest single
same and 5 90 6 for lower grades. The
supply, although slightly better, is lin
TIED, and comes almost entirely from
the dry goods and hardware lines.
In the market for unlisted securities,
brokers report an increasing demand
for traction and street railway stocks
and bonds, at higher prices. Business
is very active ia this line and the vol
ume Of sales Increasing. Municipal bonds
are also strong, and the market appears
OF an advancing tendency. Numerous
sales are now reported OF bonds OF the
smaller aud second-class cities, az ad-
vancing figures. The demand for first
grade bonds still continues good, but
the supply at the moment is pretty we'll
absorbed.