Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-05
Government bond strong.
State bonds Inactive.
PailrOad bonds easier.

Railroad bonds easier.
Stocks-The weakness Of stocks to-
day was response to the worldwide
tightness in money. A marked effect
was also produced by the Supreme
Court decision in the Addystone Pipe
case, involving an infringement OF the
antitrust law by an industrial COM
bination. Strenuous efforts were
made by professional operators to be-
little the force of this decision on the
ground that the party to the case was
q particularly fragrant illustration of
a trust formation and that the points
IN the case could not apply to the
General run of industrial combinations,
BIT the acute effect produced on the
securities Of these combinations ar
cued an apprehension on the part of
holders that their value would be inn
ralrcd by the decision. Stocks of the
iodustrials fell anywhere from one
% over three points and showed but
feeble rallying power In fact, there
ecemed to be no resiliency at any
po;nt in the market. There was some
cary strength in Burlington. Some
ii he iron and steel stocks, Pacific
4. I. Great Northern preferred and
American Linseed preferred, but with
- downward course begun there was
radically no interruption, and the
dosing was at the lowest, the majority
Of active stocks showing net losses Of
a point or over. Sugar was consp1cu-
ously weak and is over three points
lower on the day. There was some
short selling among the industrials on
the strength of the Supreme Court de-
oislon, but that profit taking was large
for the long account was very manifest
from the marked weakness in stocks
which have recently advanced, not
ably the trunk lines, the Pacifics and
Sugar.
The apprehension over money affairs
turned principally to foreign centers,
especially to Berlin and Paris. The adj
vance in the sterling rate at these
points to very near the gold export
level marked the influence Of the bank
IF England's measures to attract funds.
The sterling exchange rate in New York
also advanced. but the money rate
both in Paris and Berlin remained
quiet, contrary to the fears of the spec
ulative world. The stagnation of spec
ulation at those centers probably had
to do with this result. In New York,
on the contrary, the money rate stiff
ened as the day progressed and Hurried
to II per cent at which point it closed.
No loans were made below six per cent
Some of the borrowers, counting upon
an easy money market following Sat
urdays strong bank statement, delayed
supplying their needs until late in the
day and so bid UP the rate The
strength of Saturdays bank statement
Is seen to be traceable to a single in
stitution as was the case last week.
Moreover sub-treasury operations from
which the whole of last weeks cash re-
cuperation was derived show gain by
the sub-treasury at the expense of the
banks since last Friday of S1.274,000.
Offerings Of bonds for redemption at
the sub-treasury have fallen to so low
a point as to afford only slight offset
to the absorption of funds in the TAX
ing up Of the surplus revenues. On the
other hand, interior exchanges moved
slightly in favor of New York. The
speculative public, however, has aband-
oned hopes of an easier condition until
after the end of the year.
Railroad bonds were easier in sym
pathy with stocks. U. S. Is, new As and
IS advanced Il and the IS and old As
coupon Is in the bid price. Total sales
par value $1,4sO,0po.
Quotations closed bid:
A Do Preferred 81
a ss,tfi@p5 6 a nd Ohio g