Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-03-14
MeXican dollar 44s1c.
State bonds dull.
Railroad bonds weak.
Government bonds weak.

=
State bonds dull
Railroad bonds weak.
Government bonds weak
Stocks-The professional traders
were somewhat astonished at the eff
fects they achieved in price to-day.
The bears, who attacked the market
at the opening, had buying orders at
the prives to which they desired to
drive stocks The market showed it
self so weak when these prices were
reached that the buying orders were
quickly withdrawn. This covering
movement accounted for the sharp raj
ly in the first half hour and there were
some recoyeries at the close. Other
wise there was nothing to relieve the
UNMARRIED depression which prevailed
through the whole list of stocks and
bonds. The closely held standard
stocks suffered with the purely spec
ulative issues and in some cases more
severely. Lake Shore is an example.
1t sold at 1856, decline of three points
and closed with the bidding at only
$50. Pennsylvania dropped three full
points. ST. Paul suffered very acute
Nv. probably on the uncovering of
margins on recent speculative buying,
and was off at one time AS per cent.
Northwestern dropped 4I and Bur-
Hngton points. The local traction
stocks were equally weak. The num-
Der OF prominent stocks which show
net losses OF between two and three
points is very large. The total sales
in the two hours Of trading, $4,000.
was well up 10 the average of full
days business for the week, exclusive
Of Monday, and blocks Of several thou
sand shares were frequently recorded.
Part of these offerings were -specuia-
live holdings dislodgedby exhausted
margins, and there can be no doubt
that sales OF investment holdings, Such
as are not usually influenced by all the
speculative movements of prices, are
beginning to absorb an increased pro-
portion of the business on the Stock
Exchange There was no SPECIFIC item
of the days news that can be pointed
to to account for the decentralization OF
the market 1t was caused rather Dy
the general conviction that the reports
OF the Maine board of inquiry and
statement of the further policy OF the
government towards Cuba are llmm-
nent. and the unWillingness of opera
tors to carry open contracts over Sun
dav The weekly bank statement
shows that the gold imports received
for theweek have not been sufficient to
offset tie continued Withdrawals to the
interior so that the cash holdings
show a net decrease of $736,100 But
as the heavy drawing down of deposits
has redlced the % per cent require
ments ty 1854, 625, the surplus re-
ca,tro to ~ arood nv 81 SuT va.
The stock market ended the week as
it began it. in demoralized condition.
The partial recovery of Tuesday ana
Wednesday and the diminished activ-
ity between Monday and SATURDAY
probably represented nothing put
natural reaction which always 1oiio"s
sudden decline, the recovery peins
in proportion to the violence OF the
fall. Tie New York stock exchange
on Monday shared the depression eX-
isting On every exchange for securl-
ties in the world. On the London ana
the European exchanges, the new de-
mands of Russia upon China ana the
tension between France and Greal
Britain over the West African sltua-
ton were almost as much causes Oh
alarm as the relations between the
United States and Spain. 80 acute
was the resulting depression that SO
important an incident as the supreme
Court decision in the Nebraska maxi
mum rate case in favor of the railroads
was almost entirely disregarded, al
thought it has been eagerly looked for
each Monday since last year. Spain $
prompt disavowal of any intention to
demand or even request Gen. Lees re-
call, the satisfactory adjustment of the
difficulty over sending provisions to
Cuba in warships, and the voting by
Congress of the $50, 000,0 600 defense fund
were all cited as evidence of improved
conditions in our relations with Spain.
But that none of these had any deep
seated effect was shown by the course
OF prices later in the week.
The course of the exchange market
and the continued influx of gold must
be accepted also as additional evil
dence of preparations for emergencies.
Last week the heavy demand for
money from the interior, due to the
desire of interior institutions to
strengthen their reserves, led to a rise
IN the money rate which naturally
started an import movement of gold.
ms week the money market was de-
odedly easier and the level of call
money rates is distinctly below that in
London, so that there should be a
profit in leaving credits abroad at in
terest. Bet there has been no inter-