The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-01

market were the statements OF the
earnings in October II two of the great
railroads OF the country namely the
Pennsylvania and Burlington Both
statements made remarkably strong
showing. but that OF BURLINGTON had
been discounted by more active spec
ulation and the rumors which have
preceded the publications for some time
past have grossly exaggerated the pro-
portions of the increase AS a conse-
quenee there was some disappointment
In speculative circles over the Burllng-
ton statement and sons proht-taklng,
which impaired a heavy tone 20 the
whole OF the grangers group until late
In the day In the final hour prices OF
the group shared in the strength OF the
general market. Rock Island led with
a net advance OF II per cent on reports
that the colnpauY's refunding scheme
had been perfected and the sale OF the
first block OF new per cent bonds con,
cluded. The October statement Of the
PENNSYLVANIA system with It's increase
In gross earnings OF 100000 and In net
OF A52,l00, was regarded as strongly
favorable and as rejecting large gem
eral improvement In business. The
stock OF the Pennsylvania railroad
rose 2% per cent under its influence and
all of the trunk llues showed marked
degree OF strength, New York Central,
Lake Shore and Canada Southern ris-
ing from one to two points, Although
the Burlington statement compared
with very strong month last year and
with one less business day In the month
than last gear, and although both the
gross and net earnings fell slightly be-
low those OF September of this yearthe
falling Off from the record month OF
September was small, There was a very
marked increase In the operating eX-
penses, both for Burlington and the
Pennsylvania, amounting to S44O,SSo in
the case OF the former and s2Sl 500 in
the case OF the latter, rejecting the ar
rearages OF outlay for maintenance
which exist generally In railroad prop
erty all over the country, The Erie and
Lehigh Valley also, had very favorable
statements for October, but In both
cases heavy increases in operating ex-
penses absorbed a large proportion OF
the increase In gross earnings,
Speculation In Sugar was again very
active all day and the stock rose
strongly, closing 2iSc higher than last
night. The approach OF the regular div
ideud period and expectation or a favor
able decision by the treasury depart
ment on the question OF countervailing
duties on imported Dutch sugars we're
the causes at the rise, Northwest aud
Omaha show net gains edualllng a
point. Consolidated Gas Is ~ per cent
higher on the day. New Jersey Central
gained IA per cent. otherwise net gains
in the active stocks are confined TO frac-
lions and there is a fair sprInl;lIng OF
small losses through the list Sales OF
silver certificates on the exchange Tor
1000 ounces at from 59hc to 59Ac were
a feature of the day. Bar silver sold In
this market at 59hsc, price which had
not been equalled before since July y,
Bullion dealers have no other explana-
ton to soffer to the strength OF silver,
but the existence OF active demand and
a limited supply.
The bond market showed some activ-
It's and strength In high grade Issues,
being very firmly held. TotalS sales
81. 6S5, 900,
United States old As registered were
advanced Y per cent bid.
The total sales of stocks to-day, were
2l9, 100 shares.
Evening Posts London financial ca
blegram:
The strength OF consols was the only
feature In the stock market here to-day
They touched the highest price on re-
cord. Americans opened disappolnt'
ingly At the same time the tendency
here at the moment lsrather to buy on
each fall than to sell,