Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-12-14

New York, December 13.-The days
market for securities offered every ap-
pearance CT breadth and strength, the
buying being vigorous and as5! essiVe
and well distributed. Ire fact was
not to be ignored, however, that the
stocks of Southern and Southwestern
reads, which were favOrite5 with tie
bulls last week, did not share in the
advance proportionately, the price be-
ing kept down 0J liberal offerings.
A decrease in earnings Tor the first
week in December, reported for Louis
vile. and a somewhat unfavorable
showing for the same period by Chesa-
peake & Ohio, may have accounted
for this. but there was a suggestion OF
profit taking in the movement of these
stocks in face CT the general strength
manifest elsewhere in the market. The
jump in Sugar to 145A in the course
Of the first hour, stimulated the whole
market. The dissemination OF rumors
that an extra dividend was again IN
der consideration was the instrument
employed to effect this Eisc, and the
motive Of it appeare in The heavy OF
ferings at their level. The stock Was
supported, however, at a certain stage
Of any decline all day and closed at a
net advance Of over a point. The gov
eminent crop report, with It's revised
estimate OF a wheat crop OF 330,00o,G00
bushels, caused q lively outbreak of
speculation in the gran2erS, the high
record price of wheat With this heavy
yield to draw en- being regarded as
insuring prosperity 70 the wheat car
rving railroads. Still n)ther element
of strength in the day market was
the jump in price # Metropolitan
Street Railway. This stock Use near
" five points to 125, in strong con-
trast to the persistent heavineS5 IN
Manhattan, which dropped at one time
nearly two points On account OF the
published report that syndicates had
already been formed to finance the pro-
n0sed underground rapid transit plan.
Manhattan fully recovered before the
close. and shows q small fractional
net Gain. Union Pacific showed
sbarp recovery from its recent depres-
sion on the strength of inspired re-
ports that the reorganization could be
carried through with moderate in
crease Of the proposed bonded lndeot-
edness and preferred stock, and That
the subsidized portion of the Kansas
Pacific was not deemed essential to the
success of the plan. There was some
heayiness in local gas securities, oW-
ing to current rumors or dllncultles ID
the way of the proposed amalSama-
tion of local companies. me day
buying was in large part professional
and commission house business was en-
a small scale. London was, however,
a. liberal buyer of stocks in this mar
ket Quite a marked feature of the
day was the large number OF small
lots Of dividend paying stocks which
were bought. This class OF buying ap-
peared in the gilt-edged investment
stocks. which rarely move, but was
also manifest all through the list OF
dividend stocks A feature OF the day
was the stiffening of call loan rates to
per cent, though the rate eased OH
again before the close. This rise in
the rate was attributed to a sudden
and rather urgent demand, while Of
ferings were rather light for the time
being. Other departments of the
money market were unaffected. Net
results of the days trading very I'M
even. net gains exceeding a point in
the grangers! the coalers and b. & o.,
but showing small fractions for the
most part in the general list.
The bond market continued active
and strong, the Atchison and Northern
Pacific issues being prominent. Net
advances of from one to two points
were shown in number of bonds.
Total sales S3,S50,000.
Quotations closed bid:
Atchison ....... ...................... 13ss
Do preferred .I........ .................. 80
Baltimore and Ohio .................... AZ