Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-12-05

The stock markets opened dull here
to-day, notably Americans, but the lat
fer. with the exception of Central Pa
cific. closed at slight improvement.
Nearly two million pounds was repaid
by the market to the bank to-day, but
money was easy Notwithstanding this.
and the London market rate was 33s
per cent.
There was a further heavy gold
movement from the bank. 1t was not
made known, however, during business
hours, and will cause surprise to the
market. 1t is generally believed that,
although gold is going to Germany,
much Of the present withdrawal on Ger
man account has really entered recent
ly into various extensive financial
schemes with Russian companies, for
whom Germany had specially con-
tracted to supply certain portion OF
the capital in gold. This is now cost
ing Berlin dearly.
There was no marked change in the
character of the market to-day from
that which has prevailed for several
DAYS past Activity was for the most
part confined to the Specialties, and
the extreme range in the price OF
many leading railroad stocks did not
exceed "a to a. London was seller
of Americans again, though the rate for
money was easier at that centre IN
spite of an additional withdrawal OF
over $1,000, 900 in gold from the Bank
of England, presumably for shipment
to Germany. London's offerings OF
stocks here were fairly well ABSORBED,
but there was no increased demand.
The gra1xers were remarkably DUH and
sluggish in spite of the st. Paul state
ment for the fourth week in November
showing a level of earnings, notWlth-
standing the bad weather prevailing,
never before exceeded except IN 1897.
There was a slight pressure OF reallz-
ing sales In Northern, Union and Cen
trail Pacific, but in the case Of the latter
there was a subsequent rebound or l7s.
. Sugar dropped sharp fraction at the
opening on rumors OF further reduc-
ton in the price Of the product, but
this speciality afterwards moved strong
ly upwards on covering OF shorts
Pacific Mail was also a strong feature
and moved up to 4038 on the good bus-
mess outlook for the company. Metro
politan Street Railway continued its p
ward course above all previous high
records, while Manhattan moved III Il
contrary direction. the movement ne
ing the result Of the traders inte1Tre-
tation of the revived talk OF q rapid
transit system. There was reaunip-
tion of the upward increment in Fed
eral Steel preferred, and apparently
sympathetic advan .es in tennessee
Coal and COLORADO Fuel. The Increase
in surplus reser 1e shown b.: the bank
statement was nuv to increased re-
uuirements On acoJt1t deposit IN
ereases. The increase in loans is at
tributed in large part to the Resumption
of lending money abroad, Il process
w hich involves borrowing on sterling
exchange collateral as an incident.
Perhaps the slight reactionary ten
dencv towards the close Of the week
is fostered by fears that traffic returns
for the fourth week in November, to be
published next week, will show unfa-
yorable effect from the stormy weather.
The events of the week in the inter-
national exchange market have given
new and convincing evidence OF the
strength of this country's financial po-
sition. The decline in discount rates
abroad early in the week wiped out
the margin of profits between the in
terest rates abroad and those prevail
ing here.
The heavy contracts for steel rails
indicate coming period OF railroad I'M
provement and extension, and there are
numerous schemes for consolidation
and organization OF great lnuuoIll0"
constantly being floated in Wall street.
Among those for the week are corpora
lions in silver plating, thread, llnseed
oil, tin plate, Photographic cameras,
etc., requiring many millions for the
process of financiering.
In the bond market the course OF
prices has been continually upward on
a large and we'll distributed volume OF
business.
United States twos and threes and
the new tours and the fives registered
have advanced q, and the old fonrs
and the fives coupon 4 in the bid price.
Total sales of stocks to-day were 49,
700 shares.
Quotations closed bid:
...os;sor " 1888
AISliia0 sc arred 4 61 /
baltimore and Ohio .................... 1914
Sanada Southern ............... 54ls
CCant,saI Pacific ................. 3912
Chesapeake and Ohio NEUTRALITY-SUSPICIOUS.. = Is
Chicago and Alton ....................-.-l t1
Chicago Burlington and QUINCY. .1l9A
Chicago and Eastern Illinois.......... ISIS
Do preferred OBSERVATION-DISCLOSURES. llVa4
Chica % and Great Western. 147s