Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-12-19

rablegram:
The stock market here to-day was
lille but firm. Americans were most
active. New York prices were a dis
appointment, but the market opened
over parity and improved gradually.
closing firm though somewhat irregu-
lar. Union Pacific was the chief TEA
ture on more favorable views as to
the acquisition of the Oregon Short
Line. There was buying also on the
reported acquisition of the Alton line.
Discounts were easier. Silver was
MeakiSh.
New York, December 7.-Stocks-
The market to-day opened firm with
rise of point in Union Pacific. Later
the irregularity in London, which had
been ignored in the initial trading, was
an influence locally. There was
sharp break in the Vanderbilts, Lake
Shore losing 8 and New York Central
and Canada Southern over point.
Local Traction shares were off sharp
ly, especially Metropolitan and Manhat-
tan. Missouri Pacific also weakened
decidedly. There was considerable
strength in other spots, Southern Paci-
u, L
and p, c., C. & st. l.. shares showing
firmness. In the second hour the
downward movement was rather uni
form In the final dealings, however,
an improved tone set in, in which Bal
timore & Ohio and Lake Erie & West
ern stocks recorded substantial adj
vances. The average declines were less
than one per cent The bank state
oh 70 HI
expected, was later than usual in max
ing its appearance, but its influence
helped the closing rally.
This was the record week on record
for transactions in stocks and bonds.
The sales of stocks being above four
and quarter million shares and those
of bonds ely forty million dollars.
The variety OF stocks and bonds dealt
in was also greater than ever before.
The financial horizon seemed clear,
but the money and loan market con-
tlnued to be watched narrowly, and
as long as there was no cause for alarm
securities were bought confidently.
The local commission house business
was heavy. Interest largely centered
in railways The bulls from time to
time took up one stock after another
and raised each in turn in most cases
to record figures. The story about the
acquisition Of Chicago & Alton by
various railroads in each instance gave
strength to the property supposed to
have acquired the Alton. Although it
was understood that the property was
on sale on favorable pQrms, no deal
took place as far as known, but it was
always the last story that found be-
levers. The coalers responded to cold
weather conditicns and to gossip that
trade agreement beginning with the
new year would restrict the output OF
both the anthracite and bituminoUS
coal properties. Sugar, with its usual
wild fluctuations owing to various in
teTpretatiOnS of the trade situation,
dropped points. Among the other
industrial properties trade conditions
played an important part, with prices
rising strongly in response to encour-
aging statements. AtchisOn, Federal
Steel and General Electric, on pur-
chaSes by house which had been in
strumental in raising the price of other
properties, were strong at most times
and gave tone to the market at periods
of hesitation. 1t was claimed for Fed
eral Steel and General Electric that
their present and prospective poSsibil-
titles as exporters of their products
rendered the movement not unreasOn-
able.
Features of pronounced interest de-
veloped n the bond market daily and
purchases of Semi-speculative issues
were in an enormous volume. The pie
thora of money at this centre which
failed to find employment in the money
market naturally was directed into
purchases of investments and lower
grade issues which yielded an ade-
quate return upon the capital invested.
Consequently a steady absorption of
mortgages continued, and on occasional
declines in active issues conCident
with he vagaries of the stock, did not
destroy the undertone of confidence.
Foreigners purchased freely. The high
rates prevalent for the better class is
sues reduced the yield to the investor
to very low level, scarcely exceeding
5 per cent. in many cases. This cir
cumstance influenced buying of many
low priced issues, in which there is no
immediate prospect of interest return,
but holdings were secured with a view
Of profiting by a rise in prices.
United States tours coupon advanced
~, the old tours registered and fves
u, and the two registered q in the
bid price.
The total sales of stocks to-day were
276, 100 shares.
Quotations closed bid as follows:
Atchison 1872
Do preferred ............ .''... 81
Baltimore and Ohio Observation-Disclosures. G224
S,tS aN!iiS ..'.'.'.' .'..'........... 60
SeilFdl FdCtIlc ACKNOWLEDGEMENTS. 3Si4
chesapeake and Ohio ................... p
Chicago and Alton .....................l65 15
chicago, burlington and Quincy 1919.
Chicago and Eastern Illinois ........... 55l2
- pieIStIeu ......-..,. ...............Ilo
Chicago Great Western. 145s
Chicago and Northwestern .141S4
Do preferred .....................1S5
delaware and Hudson ................ .1G5ls
delaware, IackaWanna and Western 145
Ns+1S Nie"p ...''..,.-..'. Observation-Disclosures. litS
DO first preferred Observation-Disclosures. 3112
Goie ests AS $500. :--..' ............-...At0
Great Northern preferred ............. 1891;
limos GeHlrdi ;::..-... .ll511
Lake Erie and observation-disclosures IFS
10 preferred ........ Observation-Disclosures. Is
Lake Shore ............ ..........2G9
louisville and Nashville -. .......... ca
Manhattan l. acknowledgements. g6L.
metropolitan street Railway. 1902
Michigan central .......................ll2
Missouri Pacific ..................,. 42a,
New Jersey Central ......... ...... ~
New York Central . 1925
Northern Pacific ......... .......... II
Do preferred ........... ............... I6is
Pittsburg ........ .....................l72
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