Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-13
Mexican dollars 471ac.
Government bonds easy.

government DOnQS easy.
Stocks-Values of securities suffered
to-day from the further drastic iquida-
ton of speculative accounts, induced
by the concentration of loans by the
banks for the purpose of replenishing
their depleted reserve. Some sentl-
mental effect was produced by the sud-
den death OF Cornelius Vanderbilt. But
this event, though sudden, was not
wholly unexpected, and those proper
ties with which the name is most close
~ associated gave evidence of support.
Late in the day, after loans had either
been readjusted or paid off, there were
some notable recoveries in prices, not
a few of the railroad stocks rising
above yesterdays level. In the final
hour there was rather urgent demand
from the shorts to cover, which helped
the rally. Some stocks gave the APP
pearance also of a demand from bar
gain hunters. All grades of stocks
were thrown upon the market during
the day, as the rate for call money was
marked up by successive stages or
; loans were called outright. The stand
ard railroad stocks suffered in equal
degree with the industrials, as evil
denced by the weakness of the grangerS
and point decline in Pennsylvania
on large offerings. The bears were
watchful for opportunities all day and
were quick to take the market away
from sellers. They had their greatest
success in Brooklyn Transit, which
broke to par on the opening transac-
ton. The most strenuous efforts at
support failed to hold this stock and it
fell to 50. The Flower group showed
keen sympathy with the weakness in
this stock Peoples Gas, Federal Steel
and International Paper dropped from
2 to points below last nights level,
and Rock Island leading the van of the
grangers. Tennessee Coal opened off
91h points and f1uctuated very fever
ishly over a range Of five points. Col
orado Fuel moved in sympathy, but
otherwise the iron and steel stocks
were relatively firm and came up in the
final dealings to a level above yester-
days close in several instances. Sugar
was one of the heavy sufferers on the
active list. Some of the less active
stocks to show notable losses were
Chicago and Eastern Illinois, Consoli-
udlSu GdS, NlOUllc anu OAlO, S1CN SAtiAlh,
Lorain and Wheeling preferred, Mime
apolis, st. Paul and Sault Ste Marie,
Omaha and Lackawanna, in which the
decliens ranged from 3 to 512. Man
haitian was weak at one time, but raj
lied strongly on the declaration of the
regular quarterly dividend of one per
cent. The newly listed United States
milling stocks gained IA and 1 re-
spectively. Railroads in the Southern
group, the Pacifics and Atchison pre-
ferred showed a better resistance to the
weakness than the general list and in
some cases established net gains before
the close. The heavy liquidation Of
the last two days has undoubtedly re-
suited in greatly strengthening the con-
dition of the banks. The call loan
rate, after rising to nine per cent, fell
again to six, but this was only after
the days demand had been satisfied.
Reports from Washington indicated
that the Treasury Department was in
disposed to offer measures of relief so
long as liquidation was not forced be-
yond purely speculative limits. The
foreign exchange rates on London, Ber-
lin and Paris, all yilded fraction to-
day, but discounts at those centres did
not respond with an advance as they
would almost certainly do If a move
ment of gold in New York were i'm
pending. New York banks generally
marked up the time loan rate to-day to
six per cent, though the demand in
that department is not heavy.
Bonds were weak in sympathy with
stocks and there was considerable liz
uidation manifest in the speculative is
sues. Total sales par value $1,915,-
900.
United States old As coupon declined
Il in the bid price.
Atchison ......... ........................2 0ss
DO preferred OBSERVATION-DISCLOSURES. 6S24
Baltimore ana Ohio. SIS
Canadian Pacific .........................9 3ia
Central Pacific Observation-Disclosures. 565s