The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-02-20
FINANCE AND TRADE.
The Features OF the Money and Stock

.'AAA sANtsSs |.-# IN. b.
NEW YORK, Feb. 1s.-The net
changes in stock prices for the day
were irregular. with slight fractional
advances predomlnating, although in
some important stocks the advance was
considerable. The dealings were very
large for a Saturday short session, al
most 100000 shares being traded in. Lon
don was carly a seller and later re-
purchased about half the amount. a
more confident sentiment regarding the
situation at Paris accompanied the cleo
tlon OF a new president OF France.
Houses with Washington and Chicago
connections appeared as liberal pur-
chasers and the selling was scattered.
The standard shares were generally
strong, while the feature of the market
was the sensational advance in Tobacco.
which made net gain OF Tx after an
extreme advance OF almost 20. The
dealings in this stock were OF 4 very
sensational character. the variations be-
tween sales running either way from l
to 4 points. The movement was general
ly considered as directed against the
Ihort interests. Various reports were
current OF absorption OF friendly rela-
lions being established With the
company's most conspicuous rival, but
these stories were denied in other quar-
tiers.
The market became irregular after
the opening exhibition of strength, rea-
llzinS sales being offset By confident
buying In others. Burlington was jam
med down two points, and the other
Srangcrs and railways which have
been strong crumbled. Meanwhile Man
haitian, which broke three points on the
order for the removal of the elevated
structure in Battery park. recovered
most OF its carly loss. 1t was the ag-
gressive strength OF Tobacco which
steadied the rest OF the industrials, in
GLIDING Sugar.
Metropolitan Street Railway and
Third Avenue displayed considerable
strength, as did number OF the low
priced stocks. including Texas & Pa
cific, st. Louis Southwestern preferred
and Chicago Terminal. After the first
hour many stocks went up at lively
rate. The appearance Of the bank
statement. which, while about as cx-
pected, showing Il decrease In surplus
and an increase In loans, brought about
considerable realizing. but covering of
shorts lifted prices again to some ex-
tent The market closed active and
strong.
Advancing prices. like rising tide.
stole upon the bears this week. waves Of
purchasing orders forcing retreats from
one position 10 another. In the fore part
OF the week the market was highly pro-
fessional and cautiously manipulated.
lest the trading become too wild and
thus render conservative spectators
and investors timid. Favorable under
lying features were not different from
those previously prevailing. but the
adroit ones having acquired stocks
while the market was semi-stagnant.
wished them to advance, and as they
lifted them it became follow the lead
er, which this week was Burlington.
Gratu!tously disseminated gossip that
purely trading market was to be cX-
pected had encouraged the putting out
or short lines, but the rising paper val
ties induced covering which at times
was very urgent. The continued preva-
lence Of easy money was the backbone
OF the price movement.
Little impression was made upon
prices by the increase In loans and de-
crease in reserve shown by the bank
statement for the three Saturdays end
ing to-day. There were various rea-
sons assigned for the Increase In loans
among them. the financing of man~ new
Rotations of Industrial combinations, re-
funding schemeT and amalgamations
pending of allied railway interests. The
strength Of the market despite the
storms hampering traffic. and reducing
railway earnings. at least temporarily.
was indicative of Increased confidence.
In fact all uafavorable news. includ-
ing the death OF the President ..
France, with its possible complications,
made but 4 transitory imprint on val
ues, while favorable news or rumors o.
pending encouraging development,
quickly recruited the ranks or the opti.
mists.
The weeks bond market furnished a
number of features. including a revival
OF activity In the Central! of Georgia is
sues. which ordinarily are dull. The
market generally displayed an advanc.
Ing tendency. with a considerable In
crease in activity toward the end. United
States new Is and the Is declined II
and the old is registered and the IS
coupon X in the bid price.
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