Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-05-29

New York. May Commercial

day, but the general tone was favor
able. though investment securities
were dull on continued apprehension Of
dearer money.
vorites were fractionally higher. 9th
ers were unchanged.
Spanish As were good at 62ss. Tin
tos were 49,. Paris is more cheerful.
Discounts were shade harder. Money
is steady but higher rates are expected
next week.
New York, May 27.-Stacks-There
was marked disposition in the stock
exchange dealings to sunder the specu-
lation in railroads and in the industrial
specialties. The immobility of the
standard railroad stocks in face of the
demoralized opening in Sugar and
Metropolitan, was strikingly like the
midsummer markets of yore, when
sugar was likely to absorb a half to
three quarters of the total dealings,
and when many of the industrials now
traded in had not yet been conceived.
The bears seemed to gave gathered
fresh courage and made quite savage
onslaught upon Sugar and Tobacco
stocks, the New York municipal stocks,
smelling and steel and wire. Losses in
the railways were insignificant in most
cases. There was simultaneous de-
cline in New York Central and Penn
sylvania, which was in rather marked
contrast to the later strength of some
of the so-called differential trunk lines.
The first hour had not expired before
an active demand sprang up for the
Reading securities, based on the strong
showing Of the April statement of
earnings. A decrease in operating ex-
penses of the coal company and an in
crease in gross earnings of the railroad
company combined to produce an in
crease in net earnings for all the COM
panies of $1076 $40. In connection with
the good report submitted by New Jer-
lsey earlier in the week and the May
{gross earnings of Ontario & Western,
1 the coalers developed quite a buoyant
tone and enjoyed substantial gains all
&around Erie first preferred shared in
stocks was carried to other railroad
stocks and checked the decline in the
specialties, short covering causing rail-
lies of between one and two points.
The failure of the market to show any
marked response to the bank state
ment induced a fresh raid by the bears,
which carried Sugar down to 145, an ex-
IRENE decline from yesterdays close
of 91a points. The market yielded in
sympathy, the specialties quite Sharply
and the railroads only slightly. The
market closed under pressure but with
net gains remaining for most of the
railroad stocks. Sterling exchange
made an unusual show of strength for
Saturday with a rise of nc, due to
the hardening money rate in London
and the demand on that centre from
the Continent for gold. In connection
with the plathoric condition here dis
closed by the weekly bank statement,
Alere is some renewed apprehension
OF gold exports. The demand for rail-
dc cfy
ing prices, Reading As being most con-
spicuous. The exchange will remain
closed until Wednesday.
There has been a very notable de-
mand for all available issues of rail-
road bonds during the week. There
was moderate absorption of gilt-edge
and government bonds. But the ia
vorites are most issues for refunding
and reorganization purposes in course
of disposal by the organization syndi-
Gates, and which may presumably hope
for stable higher level of prices
after this floating supply has been abb
sorbed by investors.
United States new As and As coupon,
and the IS advanced a, and old As reg
istered and the 5s Is in the bid price.
The Is registered declined ~.
The total sales of stocks to-day
amounted to 241,546 shares. Quota
tons closed bid:
AIchlSon ...............1S1s
Do preferred Observation-Disclosures. 55A
Baltimore and Ohio .................... 60
Canada Pacific ............ .............. 9Sls
Central Pacific OBSERVATION-DISCLOSURES. 52A
Chesapeake and Ohio .............. Is
Chicago and Alton ......,...............16 100
Chicago Burlington and Quincy. 1905
2 Chicago and Eastern Illinois. .......... 1915
10 preferred .:..-...- .................122
Chicago Great Western ............... 1885
Chicago and Northwestern. Isl p
Do preferred ..... .......... 1871 y
Delaware and Hudson .................. 11S4
Delaware, Lackawanna and Western. 164
Erie (new) l21.