Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-09-28


RajlrOadS-StrOng
StOCkS-The stock market was moder-
atcly active to-day and was strong in tone,
although he movement of prices showed
some irregularity. This condition was due
90 realZatiOus of profits and 10 the elimin-
alton of q large amount of the short in
terest during the past few Gays. For the
fourth time in succession forecasts OF
favorable bank statement We're utilized
90 advance prices. and for the first time
the statement of averages came up to eX-
pectatiOuS, an increase of $751; $50 in the
legal reserve and of 50 3J2. 500 In deposits
being noted. Experts on bank figures
took exc option. however. to the contra otion
of 81 34N 200 in loans. The opening was
strong and higher under heavy purchases
TO cover shorts and a moderate inquiry for
long account. The improvements were the
more important in the induStrialS and in
teruatiCual shares. The upward move
ment continued during the first hour, buy
inS by the arbitr &c houses IN St Paul
advancing to 1855 The gains in the gen
cral list were almost all important with
the exception of Manhattan, which yielded
per cent. Towards noon the bears made
q determined drive at Sugar on reports of
and expectation OF reduction IN the
price of the refined grades early next
week. The raid, together with long oter-
inCS depressed the price two per cent.
and the general list lost fractions in SYM
pathy. a few of the industrlalS making
more noteworthy declines. The closing
was erratic but showed general slight
gains The market of the week was IN
tluenced by q marked expression of
awakening confidence in the financial and
general business outlook Large further
arrivals of gold and substantial engage
mentS of the metal despite an adN3ce 10 q
per cent. i'm the Bank of England's min
imum rate of discount, reports of the start
ing up afreSh of suspended industrial and
manufacturing activity in various sections
of the country and decided relaxation OF
the recent StrugenCy in time money ana
mercantile paper money markets all con-
trihuted toward Cheerrul speculative
temper. The revival of activity IN IRON;
steel leather and other trades taclhtateu
EFFORTS by specialists 70 advance prices.
hut the broadening tendency or the STOCK
and bond markets also reflected lncreaS-
ing commission business, ooth speculative
and investment. For the first time in sew
eral months the banks are quoting can
money as low as per cent. on a parity
with the street rate, ana time tun6s are
Qhtainable on good mixed collaterai AZ
ua- cent flat for all periods up 10 Que
wear Prime mercantile paper is IN better
REQUEST both by local ana out OF Town
banks and is readily discounted at 'PN per
cent. as against SQlV per ceHs' Wy Wcc W.
previous The engagements or goa from
the inception of the movement TO GATE aS-
cregate Si3. U59. 600 and the actual arrivals
FIN the week were SaltuVV CluuliIs an
amounts TO Chicago. Boston ana san ran
ciscol bringing the grand total 10 $5iSao,-
$50 The full gain to the treasury reserve
will not appear in tO-day's figures, but the
actual reserve of nearly Sl-O.0oWQ is an
encouraging showing. An interesting de-
Vcloumeut of the week was me ARRIVAL OF
s. l2l eaO i'm gold at San Francisco from
Australia IN payment for large cOnSlSn-
Uauts OF wheat TO the last named country.
Another significant item is an advance IN
ocean freight rates from this seabOard TO
the hiGhost figures quoted In a long time.
me demand FOR high priced investment
bonds was fairly brisk. The street be-
tlvN-. taat Che short interest has been very
itI%'i4 ie-Nc-d on the advance of the
pas lhrDe 0eNS. and some of the bull
leaders Who invited the upward movement
axe UNDERSTOOD To- have realized that
stocks nave TO an extent passed from
strong 20 comparatively weak hands
The favorable general conditions may
however. cause new accessions to the bull
side and carry the market away from the
professionals. The market closed sligbt-
ly below tho top figures. but show gains
Of % per cent tn the active list. The
agsres0te sales We're i1SS.SSl shares.
Railway )Unds displayed marked strength
on investment and speculative demand
The market brOOtened considerably and
heavy declines occurred IN certain issues
The sales Wsre $.ie.lVn. Governments
were active and strong with transactions
iu The new IS or IL. The dealings agrra-
gated $4,000. Silver certificates We're ac-
tive end slightly easier on sales Of 100000
Total sales of stocks, 1z4,o-J shares. Quo
tatious closed bid:
A-ChlSOD ......... .....-.-. ............... 193t
a !-nS ENprcSS.-.. .....--.--- ....... lis
Alton and Terre Haute ............... IS
10 preferred .....-... ........-..........
American Express. .......... ...... .....10S
Baltimore and Ohio OBSERVATION-DISCLOSURES. al.
Cc0aGa Pacific ......... .....-........... 5,ls
Canada southern ......... ............. IS
Central Pacific ......... ............... 139,
Chesapeake and Ohio .................. 1874
Chicago and Alton .....................145
Ch'cago. Burlington and Quincy ..... 704
Chicago Gas ......... .................. 63+.