Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-05-30
FINANCE IND TRADE.

New York, May 2S.-Evening Posts
london financial cablegram:
Tine only feature to-day was the re-
Yyal Of the demand for gold for Rus
sd IN the LndOn market Notwith-
sanding this. money ruled at 21ac, and
Freae- exchanges were higher.
S0cks-The fact that to-day was a
holiday in London and that Monday
would be a holiday both in New York
and London, had the effect Of eurtail-
ias speculative operations in stocks.
EAIe We're two conflicting reports in
circulation both coming by different
routes from the same point in the West
indies, one alleging that the United
States fleet had been sunk and the Ad-
miral killed, and another that Commo-
DIRE Scnley had penetrated the harbor
Of Santiago and sunk the Spanish feet
The market sold elf on the first and re-
crered on the second. But the deal
l1gs were not large nor the movement
VIDE in any case.
Prices We're sluggish outside special
stocks and final Changes were small.
Rock Island and Peoples Gas were
pushed up again. after a preliminary
reaction apparently to shake off some
weak following. Their price was sus-
tanned with some difficulty at the close
ara was manipulated with the evident
purpose OF making the last prices the
BEST The same thing was manifest in
other stocks. Great Northern contin-
u-d us upward course and added nearly
points to its recent remarkable ad-
vance. illinois steel rose 4 points adj
Olonal but reacted 2 points. New
l~A AIT Brake rose 2 points but lost
LtaIiy AL OF 1t. There was a reaction
aLJlf tie recovery coincident with the
publication Of the bank statement,
NAleA was on its face favorable. But
N. expansion Of over $8.0G9,000 in
!0lls, while suggesting activity in bus
mes goes with the knowledge that
supplies tor commercial papers have
n.y. Aeen large in the market nor has
me demand for time loans been eager
-Ae inference is that tae loan expan-
SJa outside Of the demand for specu-
4@AFe uses, in the stock market, to be
'oadAle5 Tor largely by loans made on
Sti-Hg exchange as collateral, an OPP
oaJ0n involved in lending abroad
money Which is due on exchange bills
0at not drawn. The close for stocks
Nd5 however near the top prices, I'M
Cel ,ae manipulation and generally a
AaHion above last nights closing
price
country's net gold imports for
'le nscll year will exceed S1G0,0 600
".Aea mas never before been approach
a. except in 1881, when it was over
@N00.QC0. There has been at the
S.Me time a largely increased output
~ soa by the home mines, the product
=. me present year being estimated at
FNlselV0 TIE idea that the govern
L'7i- requirements for carrying on the
o19 would result in any stringency in
Melsy rates has been entirely discard
q by financial authorities. With the
s'a|F expansion of the gold currency
s"l continuing favorable trade bal
e-ye which is added to by the falling
.4 In foreign travel and in expendi-
'.'e by travellers abroad IN consequence
Z. Fae war, it is natural that an era Of
-'s4er prices and of industrial and
speculative activity should develop.
le h.mness of prices Of stocks is I'M
tlol7'eliy largely based on the expec-
~l2A Of such a development.
me bond market has broadened dur
~ JAe week. and has given evidence
~ investment buying at home points.
1.Vas are considerably higher all
United States old As have advanced
~ N and the IS, 15c in the bid price.
'-4.s are unchanged.
slo.al sales of stocks to-day were
--5l.o Shares.
Ql0.a.ions closed bid.