Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-12
Government bonds strong.
State bonds weak.

otcAS A. Nah
Railroad bonds weak.
Stocks-A perusal OF the net changes
in prices Of stocks as a result of the
days trading will give but a faint con-
ception Of the violent vicissitudes
through which the market passed dur
in the five hours session. During the
morning hours the drastic liquidation
which was forced upon the market
caused great gaps in the values of Sc
curities and the market took on ap-
Dearance of Generalization. The wide
variations in prices between sales, rum
ming as high as thee points were evil
dence OF the urgent character of the
selling. At the low point the scale of
prices presented a decidedly ragged ap-
pearalce, the declines in the long list
of specialties ranging, as compared
with Saturdays close, all the way from
3 to 81 points. The latter in Tennes-
see Coal. Notwithstanding the days
violent fluctuations, the market closed
with few net losses exceeding two
points. The liquidation seemed to have
been very thorough and the great i'm
provement in the tone of the market
Turing the latter part of the day re-
dected the benefit to the health of the
speculative situation. The influences
a: work were so broad and we'll defined
that they are soon stated. One lead
ing cause of the weakness was the large
decline made last week which wiped
out or nearly exhausted margins on
speculative account, and the calling for
additional margins forced large blocks
of stocks on the market. Many were
forced to liquidate and there was a very
large contingent whose hopes of an
upward turn in prices had become ex-
hausted and who threw over their hold
ing in disgust, determined to await a
more favorable opportunity. The news
of the heavy reverse to the British arms
in South Africa helped to unsettel this
market, as it did all the other markets
of the world. London bought stocks
here in the first hour, but this was sim
ply to cover sales made earlier in Lon
don at a better figure.
rho very violence of the selling
movement worked its own remedy and
&F day was not half over when evil
deaces began to appear that urgent
speculative accounts had been thor
oughly shaken out and the loan con-
traction pushed to a sufficient extent
to afford material relief. The bears
were steady buyers for the rest of the
day and there was a sufficient contin-
gent of bargain hunters on hand to af-
ford assistance toward the recovery in
prices. The character of the interests
which were more acutely distressed was
shown by conspicuous weakness in the
highly speculative industrials. Be-
sides the declines of 81 points in Ten
nessee Coal there were losses of 4 to Z
points in members of the metal group,
Sugar, Tobacco and the New York spec
ialties. The net loss of Tennessee Coal
& Irion for the day was IS points. In
the railroads only a few cases occurred
where declines reached I'VE two points,
New York Central, Pennsylvania, a
number of c~oalers, Louisville and
Southern preferred being conspicuous
examples. Kansas & Texas was down
nearly four points. The enormous and
determined support in Sugar was the
turning point in the days market. This
speciality was run up in the late deal
ings 7A points above the low point,
scoring a full recovery not only of the
early decline, but Of the quarterly divi-
dend which was deducted from the
price to-day. There was a subsequent
decline of ~ points and the stock
closed liz higher than Saturday. The
general list closed for the most part
firm at the recovery
The weakness in bonds was much
less general and acute than in stocks.