Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-08-31
Mexican dollars 46bc.

Wv q AA4CAII JULIUS SJeduy.
State bonds dull.
Railroad bonds steady.
St0cks-The bears attempted to con-
tlnue their campaign against prices of
stocks to-day. Their efforts We're at
one time attended with moderate sue
cess. But before the days session had
ended they found themselves uader the
pressure of advancing prices and they
were obliged themselves to contribute
to the advancing by covering short
contracts. There We're several ele-
ments of the situation in their favor.
There was continued firmness in the
rates for money and continued losses
by the banks to the sub-treasury to
pay for government bond allotments,
causing apprehension of money
squeeze at later period. There was
also some evidence that the opening
advance in prices was manipulated to
AFFORD opportunity for profit taking.
thus giving encouragement to the
bears During the first hour acute de-
preston developed in the coalers on
account of the report from PHILADELPHIA
that Underwater prices for anthracite
had been cut 25c. and that the com
panies had abandoned the effort to con-
troll the trade this season. Losses in
the group extended to 3la per cent.
and coupled with weakness in some of
the speciaties, broke the whole mar
ket to pieces materially below last
nights level. The Burlington state
men for July showing the small in
crease in gross cravings wiped out
more than five times over by the in
crease in operating expenses was used
by the bears. although the st. Paul
statement showing actual falling off
for July in gross earnings has long
since been cOunteracted by the in
creases for that road shown by the
August traffic returns. Burlington S
detailed statement also showed that
while freight earnings decreased on ac-
count of the light grain movement
there was an increase of over $107, 600
in the passenger earnings rejecting
the Improvement in general business
and the more prosperous conditions.
Nevertheless Burlington Jagged in the
late recovery. There was evidence of
powerful support in many stocks at a
level slightly below yesterdays prices.
and there wa; large general buying
also invited by any decline. Evidence
of this influenced the recovery. Buy
ing for London account, which held a
number of the international favorites
firm nearly all day formed an effective
point of resistance. There were au-
thoritative denials late in the day on
behalf of the officials of the coalers of
any extensive price cutting. Further
weakening of exchange gave promise
of early gold imports though the re-
ported buying Of gold in London yes
terday for New York account was not
confirmed There was some growth
also of assurance that tightness in the
money market would be soon relived
by the early distribution of the new
government per cents. This distri-
button will serve to release large loans
made by New York banks to interior
banks for payments of subscriptions to
the bonds. All these factors tended to
the recovery in stocks and a late break
of three poilts in Manhattan caused
only a fractional reaction in the list.
which closed at net gain in nearly all
cases.
Some of the speculative bonds react
ed early in sympathy with stocks, but
prices generally recovered before the
close. The total sales s3.0S5, 600.
United States IS. when issued. declin-
ed Il in the bid price. Government
bends were otherwise unchanged
The total sales of stocks to-day 453,-