The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-03-03

manIai Bits q giil Silver certificates
efH66i9tu Bar Silver 6iitc
The reason fof the recent Sensational
advances NJ Lake Shore Wal disclosed
when the announcement was made N
Val street thai the difeetbfs Of the com
pany had authorized an Issue Of $1,000,
900 Of S5t per cent, 100 year gold bonds,
the proceeds 20 be used for the retire.
ment Of the PRESENT bonded debt as Il
natures In the next few year9, or In ad-
vance Of maturity as arrangements may
be made with the holders. Coupled with
this was an announcement that. the d.
rectorB had accepted an offer from wen
known banking house for the entire issue
at 102il. The bonds for the retirement OF
which provision e thus made the amount
In the aggregate to Sl8,092,000: $2,705,0 900
Of which mature on April !, 1888; SS55, 900
on April !, 1899, 81, 1900 on July !, 1900
ana S2i ,692 900 on February ],
1904 Il 10 calculated that die saving
IN annual Interest charges by the come
pletlon Of the refnnding viii amount to q
million and q half dollars, from which
the stock will benefit. This Is said to be
the largest transaction In railroad bonds
that has ever been made in this country,
and with one exception Il r. said to be the
highest price ever paid for American
railroad bonds.
The market opened with a show Of
strength, but yielded before long to the
efIect OF a marked depression IN New
Jersey Central. which was sold down two
points on continued uneaslne1s as 70 the
financial statue OF Lehlgh & wilkes
barre, It's subsidiary coal company.
Manhattan was also depressed on the
falling or IN earnings and the BELIEF
that the dividend WIN be reduced. The
fact that the directors OF the road were
in session impaired some nervousness
to the dealings and the stock fell e per
cent. London also was selling ST. Paul,
Louisville & Nashville and few Of the
low grade shares. The South African
situation had superseded the Creton
trouble as depressing influence there,
exerted Immediately upon mining
shares and reflected upon the general
market. The centre Of depression thus
formed In this market spread through
the general railway list and Sugar and
Chicago Gas were also down a marked
fraction in sympathy. The announce
ment Of the Burlington statement for
January, showing a surplus after
charges Of Sill. $40 against a deficit last
year OF $S7,7S2, was regarded as favora-
able. An advance set In on the strength
Of this statement, which continued dur
ing tho day. The strength impaired by
the news Of the Lake Shore project per-
meated the whole market, and the sub
sequent prices were the best Of the day.
There were some fractional reactions
near the close, but the close was gener-
ally firm, with gains Of fraction as q
rule on the day.
The bond market was strong.
The total sales Of stocks to-day were
Evening Posts London financial ca
blegram.
The stock markets were idle to-day,
but slightly better at the close, after a
dull day. ConSols were a fraction bet-
ter. Americans were neglected, che New
York support not being sustained. aka
mrs are still nat. the close being above
The Parts bourse was dull because Of
the settlement
The Berlin market was steady on the
buying Of the better class Of Kattirs.