Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-12-12

enormous transactions for the short
session many high record prices were
exceeded for the current upward
movement London followed Ameri-
cas- upward lead of yesterday and was
buoyant on st. Paul's excellent state
ment for the first week in December.
Large interests were again aggressive
buyers locally and had quite follow
ing of commission houses support. I'm
mense blocks of stocks exchanged
hands with abundant purchasing Or
ders to care for realizing sales. After
a hesitating movement activity and
strength became general again, in
which standard stocks were we'll
maintained All the grangers adj
vanced from slight fraction to over
q point, the latter in ST.. Paul. Heavy
purchasing orders were placed over
night in Missouri Pacific to buy at the
opening.
Prominent interests in the stock
endeavored to open it up as high as
possible and the ticker recorded stimuli
taneusly sales of 4,500 shares from IS
down to AZ. Yesterdays closing price
was Al 38. The stock betrayed little
feature after the first furry, but con,
tinued to be actively traded in and
closed well up to the top. Among the
industrials General Electric, Sugar,
Tobacco, Rubber, Federal Steel pre-
ferred and Edison Illuminating were
the features and gained Noint or
more. The rise in Edison Iliuminat-
ing amounted to eight points and
three each in General Electric and
Rubber preferred The Atchisons, too,
were conspicuously strong. The mar
ket closed at the best with whirl OF
bullish enthusiasm.
For the week stocks almost without
exception rose, in some cases the
gains being very large, establishing
new high price records in the present
movement. Professionals failed to &C.
press values at any time materially,
as new purchases were ever ready On
concessions, leaving the bears to cor
ner short commitments at rising
figures. Investment buying sustained
standard railway stocks, While specu-
latiye activity was drifting In the
specialties, and medium low priced
stocks wherein earnings seemed In q
measure to warrant the initiation OF
some dividend declaration or an In
crease in the present rate, as the case
might be- The dissemination OF these
dividend rumors generally brought
out some following. One neglected
stock after another would be crotted
out to be materially advanced, caus-
ing groups of stocks to act lncoheslVe-
ly and rendering the complexion or
trading spotted. There was evidence,
however. that in the aggregate no In
considerable amount OF stocks were
being purchased outright ana taken
out of the street.
The general market invariably be-
came dull with declining prices, thuS
losing but little ground, While, When II
started upward again, great actlVlty
ensued. The manipulation OF hlgn
priced specialties for rise was oIteh
much in evidence. Railways, which
failed for some time to respond to the
upward tendency, later joined fuily
with the general trend OF prices. early
In the week telegraph and cable COM
munication, partly interrupted by tne
storm. somewhat restricted business,
The volume of which subsequently be-
eame enormous Traders saw lit to IN
terpret the Presidents message as not
being the bun argument they had dis
reunited: but its better re eptlon
abroad thwarted their efforts at de-
pressing prices. There VS. much IN
the general situation having favorable
bearing on market conditions. NO
yember gross earnings were In excess
Df four per cent over last year; eX-
ports. too surpassed the phenomenal
record of last year and bank clearlngs
were next to record figures. Then, TOO,
that so-called barometer OF business
conditions, the iron and steel trade,
was active at enhanced prices. ne
monetary situation continued easy and
there was little feature t the market.
The sterling exchange market moved
rather erratcally but hardened general
ly toward the close. Estimates regard
dng the amount of loans invested in
long bulls ranged up to 100000 The
coalers were kslvanced On supposed
plans to go into effect next month for
d stronger control of the hard and soft
coal trade, Delaware &c Hudson rising
61a. Norfolk & Western preferred re-
ceived substantial support on the
theory that it was likely to be place.
on a regular dividend basis CT per
cent. Tobacco and sugar were boosted
considerably, one story serving as well
AS another for the l.urpose. Metropol-
itan's increase in dividend rate to per
cent. was accompanied by another high
record for that speciality Missouri Pa
cific received support on the announce
ment that its floating indebtedness had
been paid off.
The bond market displayed unusual
activity during the week, with the con-
centration of the dealings in specula-
fiye and middle grade issues which
have recently assumed prominence
Considerable strength was manifested
throughout with the net improvements
material in many cases.
United States old tours registered ad-
vanced 81 the twOs registered and the
old tours coupon a, new tours Is in the
bid price.
AlchlsoH 49,. .''..'.'. .'.'.''''.'''.''' tcz2
Baltimore and Ohio ................... 5S1s
Central Pacific OBSERVATION-DISCLOSURES. "a
Chesapeake and Ohio .................. 257s
Chicago and Alton .....................l6ll Il
Chicago, Burlington and Quincy.....1211
Chicago and Eastern Illinois ........ 1884
Do preferred :::......... ..............lIl
Chicago Great Western. 147s
Chicago and Northwestern ............1SIis
Do preferred .......... ...............lSt
Delaware and Hudson 1861
Delaware Lackawanna and WeStern.l 4S
Erie new .:.......... ................-.. 1914
Do list preferred ......... ............ 1888
Fort Wayne ....-.... ..........-.....lt9
Great Northern preferred ............. I34