Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-06


Of these few stocks the market was
narrow and aDathetic to the last de-
gree. Shortly after the opening north
western was marked up sharply and the
usual response was made in other mem
bers of the Vanderbilt group, Union
Pacific also following the lead. As was
the case last week, the heavy offerings
of Union Pacific brought out on the
advance checked the enthusiasm of the
buying and operations in that partic-
ular group were for the most part dis
continued. Northwesterns extreme rise
was Az, the preferred points above
the previous sale. Omaha 2, New York
Central and Union Pacinc over point,
New York, Chicago & st. Louis stocks
advanced from ia to points on ru-
NOR that judicial aid was to be sought
to enforce asserted rights to dividends.
The coalers were in good demand,
Lackawanna leading with rise of 312.
Gains in this group were not maintain
ed entirely. Other railroad stocks
which rose a point or over were st.
Paul preferred, Colorado Midland pre-
ferred, Wheeling & Lake Erie second
preferred, Hooking Valley and Chicago
Greatwestern preferred A and stocks.
Transactions elsewhere in the railroad
list were quite Insignificant. There
was a slight response in the early deal
ings to the depression in the London
market. The bulk Of the trading was
in the more volatile specialties. Ten
nessee Coal was the most conspicuous
figure in the days market. After drop
ping a fraction it was aggresslVely lit
ed by successive stages nine full points,
and closed at l 0S, the top price. Col
orado Fuel apparently symrathized with
its movement and rose an extreme 19s
There was a good demand for re-
public steel at an advance OF 27a and
Federal Steel rose a point. CEher-
wise the iron and steel STOCKS showed
but a slight response. The New York
municipal stocks including both the
gas and traction stocks, were quite
buoyant and showed gains of from 2 to
5 points, the latter Metropolitan Street
railway, American Tobacco rose an
extreme 8 points and Sugar rs. Chi
cago Terminal Transfer pfd. gained 2.
Rates for call loans were firm at per
cent or over and the first deposits of
money at the sub-treasury for ship
ment to the South amounting to $780,
600 were made this morning. The de-
cline in the item of due to other
banks" in the statement of New York
national banks is cited to explain in
part the recent drain on the deposits
of New York banks. A coincident in
crease in the same item of the Phila-
delphia national banks indicates that
outside banks have transferred their
deposits on scale from New York
banks to other cities. The explanation
is the rule of New York clearing house
banks lately enforced to charge for col
lection of checks from outside points.
The announcement last week of the
withdrawal of a prominent trust com
pany from the clearing house privileges
with its decision to discontinue the
practice of charging for the collection
OF outside checks has brought the SUBJ
Ject prominently into notice. One eff
tect evidently will be to shift part of
the demand for money to move crops
from New York to other cities, which
nave increased their deposit account
by the deposits of eastern and southern
banks.
The bond market was quiet and
changes were small and mixed. Total
sales par value $685. 900. United
States bonds were unchanged in hid
quotations.