Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-03-28

7. S. IS registered .1l0ia
Pacific fs of ACKNOWLEDGEMENTS.
Stocks-The authoritative statement
that the Maine board of inquiry's report
would be fully as grave as predicted
brought out a full attendance in the
stock exchange to-day. There were
animated groups about all the active
stocks when the market opened. The
feverishness of the foreign markets
and the fairy tale tnat Spain had de-
clared war, which was circulated about
the exchange, gave momentum to tie
down-hill movement. Fairly large
margins were swept away and large
concessions on values ensned on every
considerable offering. Sugar, Manhat-
tan and Metropolitan street railway
we're hammered and slumped about two
points. Other stocks were sharply de-
pressed. Gradually the market har-
dened on support given the grangers
and sealed buying of the specialties. 4
quarter Of an hour after the opening
the manifest intention of large interests
TO sustain the list led traders TO cover
enormous short lines and prices
bounded upward, the shorts frantlcally
bidding against each other. 1t seemed
likely that houses having vast inter
ests a. stake had come to an agree
ment over night to buy. On the bulge
here London was a large seller. Alter
an hours trading prices We're well
above yesterdays close, business in
creased on the advance, and shares
we're buoyant to the close, which was
generally at the best prices The net
improvements approximate two points
in the grangers and exceed ore per
cent in the leading international ia
vorites. The specialties gained from
IL to points with the maximum i'm
provement in Third Avenue. The trad
ing was on an enormous scale for a
Saturday, the dealings for The snort
session exceeding recent full days To-
tails.
The week Just ended witnessed a
vigorous resumption of bear aggres-
sion, owing 10 the developments OF
various influential factors, which We're
utilized to their fullest eNtent by the
advocates of lower values. That their
Efforts were signally successful can lie
best illustrated by a resume OF the maj
prices of a week ago, the comparison
rejecting losses in tie dividend pay
ing stocks of from 212 to points, ana
the sDeciai;es suffering to the extent
If from to ~ The latter group was
the objective point of attack, ana the
extreme wedkaess OF these properties
radiated t,roC giiolt the list. W'tb the
CHANGERS and tae principal lnterna-
tioldl stocks rcc siv.ng marked atlen>
ton. The Cuban question continued
the overshadowing feature, and the
various phases of the situation as indl-
Gated by the tenor of Washington adj
vices, furnished the level to alternate
~ advance and depress prices. This
condition of affairs was augmented by
the outcropping of numerous other
considerations which also exerted a
marked bearing on the financial ana
commercial situation The market
throughout was highly feverish and the
ready response to the slightest efforts
in favor of either account afforded
some of the active interests an oppor-
tunitv 10 mako frenuent turns. The
speculation at times bordered on the
semi-panicky edge, owing TO the ap'
parent approach of crisis IN lnterha-
tional affairs. The outpouring OF long
stock on these occasions was str1klns
evidence Of the apathy OF Leading IN
terests, the market hating only III
the downward plunge on the cessation
of traders offerings and disposition
to cover at inviting prices by th1
shorts. The market then WORKED
gradually upward, but the returning
level was invariably selected as new
basis of operations by the bears ana
values speedily succumbed to more
pronounced lower plane. This pro
CESS enlvened the weeks proceedings
and was accompanied at times by wild
ly animated dealings. The trading at
other periods was intensely sluggish, |
but the contraction in business was
only discernible wnen the market es- |
sayed to rise.
The attitude Of foreign operators
was regarded with considerable inter-
est, and quotations from London from
day to day were eagerly scanned as
Indicative of sentiment in the leading !
foreign financial centres. The great
pulk Of the arbitrage operations ia |
Fored the short account, but evidences
mat the foreign operators were dis J
posed to accumulate moderate lines |
On various levels steadied the market |
and stimulated covering. The I'M |
Wleldy nature of the short interest |
forced the leading active interests to |
move prices up sharply occasionally |
IN order to shake off undesirable fol- |
lowing. The rank and file of the street !
watched the operators usually en- |
p'oyed by Washington interests very |
narrowly and were ready to swing |
rom side to side as they detected the !
course and nature of transactions. The |
Ieadlng commission houses were per- |
slstent sellers and their constant liqui- |
uatlon demanded bullish enthusiasm, |
winch, generally speaking, was at a |
ioW eoh The distress among the |
I.ent-Maisted hulIs cnunled with the |