Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-14
bdT SIIVtI UJWDJJ TSO'
Mexican dollars 471Ac.
( Government bonds strong.
State bonds inactive.
Railroad bonds weak.

u. b. 5S, coupon. LIB
Government bonds strong.
State bonds inactive.
Railroad bonds weak.
Stocks-The market yielded to de-
moralization during the later part of
to-day and stocks were thrown over
wholesale on the down grade. Prices
went below the low point of Monday
all around and the market closed in
a highly excited condition. The few
rallies that were effected were due to
the hasty taking of profits by the
bears, which were sufficiently attrac-
tive ON the day to induce the closing
out of short accounts by the profess
sional operators, who persistently sold
the market at the higher level. The
market made ONE Roadway against
the depression during the early deal
ings and at one time had very largely
overcome the opening losses, which
were reflections from the foreign eX-
changes. The weakness abroad was
due to the growing seriousness of the
situation of the British campaign in
South Africa. London was a very
heavy seller in the New York market,
but its offerings seemed pretty well
absorbed. The grangers rose notably
above last nights level and Sugar and
Brooklyn Transit also made cOnSpicu-
Gus progress towards recovery from
the recent depression. But during the
latter part of the day the operators in
stocks shut their eyes to everything
but the gloomy a~pprehensions owe the
future. The existing condition of the
money market was at no time strin-
gent and in the late dealings the rate
for call money ran down to 3R per
cent. The announcement of the deter
mination of the Pennsylvania rail-
road to distribute stock par to the ex-
tent of 10 per cent of the capital came
as a total surprise, and under ordinary
circumstances would have been a de-
termining factor in rallying the mar
ket. 1t lifted Pennsylvania three
points and New York Central 2B, and
caused a temporary lull in the spasm
of liquidation. But the pause was
only momentarily. Equally without
effect was the extra dividend declared
on Northern Pacific common, bringing
the rate for the year up to 8 per
cent.
The persistent liquidation in Sugar
gradually spread throughout the list.
In the final dealings Sugar went IL
points below the highest, Tennessee
Coal 10b; Continental Tobacco pfd.
$40; Great Northern pfd. Z, Metropoli-
tan z; American Tobacco 5B and
Lackawanna 6. Although losses in the
the liquidation in them was very
heavy. The declines reach over three
points in SITS Paul, Louisville and a
number of the eoalers and exceeded two
points in an extended list. The condi-
tions were apparently much easier in
the money market, but sentiment re-
garding the outlook was exceedingly
feverish and unsettled and the street
was full Of contradictory rumors re-
garding developments. The violent
jump in sterling exchange rates both
here and at other points made it SUI
ficjently evident that London was the
real seat of trouble and apprehension
was expressed of future difficulties
there. The denials of yesterdays ca
nard of a loan of 10000, 900 10y the
bank of France to the bank of England
was a potent influence in upseting the
market. Indications pointed to a hope
On the part of London OF obtaining
gold in New York. The old story of
a loan by banks of the United States
to the bank of England was revived
with the additional detail that the
banks had accumulated government
bonds which the secretary Of the treas
rry was to buy, thus supplying the
needed gold from the U. S. treasury.
The amount rumored was S25, 600, 900.
In the morning the Canadian banks
nyprp said IN ha ~pq1lin0 in thnir ayten-
sive loans with a view of remitting
gold to London, but in the afternoon
came the report that the Canadian
branch banks have received $4,000, 900
In gold from Canada since Friday and
have been free lenders of money to-
day. The fact that the sub-treasury
this week has already absorbed $4,5O3,-
600 from the money market arouses
hope in speculative circles of some
measure of relief by the treasury de-
rartment. But the certainty that any
plentiful supply of money would ne
ccssitate shipments to London on ac-
count OF the imperative needs of that
centre deprives the stock market of
any hope of real relief until the stu
alton in London becomes easier.
Bonds went off sharply in the late
dealings but declines were relatively
small compared with those in stocks
Total sales par value ST. 95, 900. Unit
ed States IS advanced " in the bid
price.
Atchison 20
pa III poeess and Ohio 81
Canadian Pacific So
M