Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-12-24

fed the street proverb as 60 govern
ments so goes the market" The up
ward trend in the government mort
gage resulted in some record prices
and the general market for stocks and
bonds was likewise strong. Two
other street maxims were not borne
out by the course of quotations.
London's early prices are usually
an index to the trend of the market
locally and to copper London's
trades" has been regarded the part of
wisdom. Then, too, the public was
content to enjoy the Christmas holt
days without realizing paper profits
and the reaction before the holidays"
which is according to precedent, failed
to materialize. Conditions permeating
the financial fabrics continue wonder
| fully favorable to this nation. Bounti-
| full crops sell abroad at munerative
and steadily improving prices while
| the great iron and coal industries are
| getting grip on the worlds mar
kets The congestion of surplus cap
ital due to Anne 'ica's enormous trade
balance explains the investment OF
some $75,000000 used in discounting
foreign commercial bills which must
be paid in geld or in securities and
gives ear of the reported propositions
to float foreign government loans here.
The return flow Of money frG~sl the
southwest is about due, and the banks
| gained on balance at the Sub-treaSury.
TO meet the January dividend require
ments money has shown slightly
hardening tendency, and last Wednes-
| day a furry in call money resulted in
| its being marked up to Az per cent
| for a small loan, but enormous offer
| ings quickly brought it back to 21a.
| The railway traffic reports continue
| gratifying, and gave substantial foun-
dationS for a rise in some directions
| and seemed to warrant the Introduction
OF many dormant securities to the spec
| ulative and reimbursement public.
Small reactions and irregularity due to
bear tactics Kept trading rather healthy
and free from the danger OF too sud
den imitation. Scale orders to buy at
concessions rallied prices after each
period Of depression. This held the
| market in spite of continuous harnmH<
ing and enormous liquidation, and
when il was found prices would not go
down, manipulation ensued for rise.
Toward the close CT the week there was
disinclinaticn to be short over the
three holidays and there were large
covering purchases. Much interest was
manifested in the dividend declarations
of the week, but there was no change
except the increase OF 2 per cent in the
Denver preferred disbursement the
over-sanguine predictions current as to
the probable dividend declaration met
some credence n particular cases, oW-
ingsto the favorable reports of earn
ings. The gr2rgers and the Paciiics
were in keen request at periods and
gained substantially. A number OF
hitherto inactive stocks made cOnsld-
cradle progress upward, prominent
among which were B. & O., Lake Erie
C Western, Minneapolis and st. Louis,
and Pittsburg, c., C. G st. l..
Besides the much mOoted Alton deal,
there were various rumOrS Of traffic
alliances of many roads which served
to keep undated the investment de-
mand Talk of the prospective settle
ment of the Central Pacifics govern
ment obligation and a subsequent re-
organization, helped that stock, IN
view of the beneficial results OF sim
liar rehabilitations of railway proper
ties. The resignation of a prominent
official and director CT the Sugar COM
pany brought forth much bear activ-
ity in that stock which subsequently
recovered the loss. The prosperity of
the iron and coal industries was re-
flected in pronounced activity in the
securities of all local Industries. Pow
erful interests at times supported such
stocks as Federal Steel, the common
making an extra gain of Il, while the
preferred touched S4A, a rise OF "a
points, but both lost two points of
their advance The weeks bond mar
ket was less active than the cores
bonding week and the dealings were
devoid of such a pronounced tone OF
strength.
Irregularity was very conspicuous in
options, but the general undertone
nevertheless was very substantial,
many issues improving to the best
price ever recorded for them.
L. s. new IS and the As advanced II,
the old As coupon IS, and do registered
Il in the bid market.
Ato1,iSop 1S3,