Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-13
State bonds inactive.
Railroad bonds irrop,l1or

Railroad bonds irregular.
Stocks-There was evidence of large
buying by powerful interests in linn
tied number of stocks and of manipu-
lation to advance prices in the stock
market to-day. Speculation otherwise
was in somewhat acquiescent state.
Outside of special cases where prices
were supported, the tone was rather
heavy. Many of the railroads ranged
downward within the limit of point
during the early trading.
There was organized buying through
the day of Federal Steel, which was
l5srked up early three points and
closed almost at the top. There was
some sentimental effect exerted early
by this on other steel stocks, Ameri-
can Steel and Wire responding late in
the day on covering of shorts. But
none of the gains in the group were
well held outside of Federal Steel.
The so-called Flower stocks were all
well supported and Brooklyn Transit
shared it's strength with metropolitan
Railway and Manhattan. This group
of New York traction stocks showed
the effects of realizing from time to
time during the day, and Manhattan
was dragged below last nights close by
its weight.
The Changers were taken at one
time, st. Paul led, but did not retain
all of the gain and in some instances
more than lost it, The Coalers were
pretty well sustained also. Other points
of strength were P, c., G. & ST. L.,
which rose an extreme go; Chicago
Terminal preferred, Denver e Rio
Grande issues and the newly issued
Wisconsin Central stocks. Sugar
fiuctuated UP and down during the
whole day, but always above Saturday S
level. 1t rose at one time 8 points, but
lost it.all before the close. There was
no evidence of outside demand to keep
the market up and the railroad group
showed itself affected by the heavy
tone of the foreign stock exchanges on
account of political disquiet The an
nouncement of the resignation of the
French ministry helped the late reac-
ton in prices. The engagement of an
additional 100000 of gold for export
tomorrow although the probability of
it had been intimated, also weighed on
the market. No effect was apparent in
the money market which continued de-
cidedly easy. Exchange also, though
1t hardened a shade, continues a bread
faction below the point where experts
can figure profit on gold exports.
1t is in fact generally admitted that
the gold movement is due to actual
buying of the gold in this market to re-
plenlsh the reserve of the Bank of Eng
land and probably also for Russian pur-
poses. This is precisely similar op-
Grafton to that adopted by the United
States government through a syndicate
to replenish the gold in the treasury
during the last administration. It is
to be noted that while the foreign
money markets are thus drawing on
New York for gold as the most avail
able source of supply, New York banks
are Offering special inducements such
as paying the expressage on bills re-
mitted by their interior correspond
ents to secure a supply of legal tender
notes to meet the demand of actual
business condition.
The market for railroad bonds was
dull and sluggish and changes are mix
ed. Total sales par value $2,500,000.
United States IS and the IS declined
1s in the bid price.
Afob;cop