Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-01-09
Railroad bonds irregular.
Government bonds irregular.

L
u. S. SIS coupons. .................l liza
Government bonds irregular.
New York. January 7.-Stocks re-
sumed the upward movement to-day
and in some cases advanced violently.
Efforts to bring about a reaction were
successful only in the initial trading.
There were moderate arbitrage sales for
London account, which aided the re-
actionists' early efforts. The grangers
and Pacifics were off fractionally While
the so-called Flower specialties, Brook
lyn Transit, Federal Steel and Peoples
Gas, were very sharply off. The eXeeu-
ton of an order to sell a large block of
stock at the market caused bad break
In tobacco. This brought out further
sales by reaching stop loss orders.
Floor brokers in many cases advised
their houses that the movement III the
gold market was too violent to last and
presently buying orders predomlnated
over those to sell. These purchases
were largely increased on the appear
ance of the bank statement, which was
far more favorable than expected.
Brooklyn transit rose points from the
lowest, Peoples Gas IA, Tobacco rs,
Sugar. American Steel and Wire, and
Federal Steel each, the Changers
about a point and Atchison preferred
33sA Notable advances were made in
American District Telegraph, which
rose s points; Colorado Fuel and Iron
preferred. 10: ST. Paul and Duluth, 512;
Delaware and Hudson "a, and Rubber
preferred 21a. The close was active
and strong at the best.
A feature of interest was the i'm
pert of a million ana a half Of gold, q
petty payment on account of Europe's
! indebtedness to America which is at
Ipresent loaned abroad. The currency
movement towards New York which
has already set in, seems likely TO con-
1inue The bank reserve increase OF
4 $4,394, 400 was largely due to this
movement. Seasonable weather for the
anthracite coal trade at one time
helped the coalers, notably Reading, al
though disappointment was expressed
at the failure of the predicted advance
in coal to materiali-e at the beginning
of the year. The purchase OF coal lands
which it was assured would largely in
crease the traffic of Ontario and West
ern, because it was made Dy parties
friendly to that road, gave the stock
sharp turn upwards. The drastic
character of the reorganization Of The
Hooking Valley was d shock to the
holders of these securities and sales
eDy those dissatisfied caused a break
of ten points n the ner cert BOMBS, %
in the 6s, and 5 in the preferred stock.
Colorado Southern, which is the new
company organized through the re-
Mobilization of the Union Pacific, Dem
Yer and Gulf railroad, showed excep-
tional strength and activity, making a
total gain of points for the first pre-
ferred. The marked reduction in fixed
charges contemplated through the
management of the new company was
ascribed as a reason for the demand.
Pullman and Federal Steel were bulled
on talk of good earnings. The week
was prolific of rumors and ensuing
denials affecting various properties
Manhattan was to be electrically equip
ped by General Electric and both
stocks were marked upon prospective
benefits TO each, should the story be
true. Brooklyn Transit, it was said,
would be consolidated with other troll
ley lines in Brooklyn and made very
handsome advance on such reports, and
the more tangible fact of its increase OF
s665.000 in gross earnings for the year.
Brooklyn Union Gas surged upwards
on arguments tending to elueidate how
Brooklyn Union Gas might benefit by
an alliance with certain electric COM
panies, although as far as the public
knows such projects are still n the
air, and then thu possibility of in
creased dividends was mooted.
Pittsburg, Cincinnati & st. Louis at
tanned high record figures on talk that
the minority holdings were being pur-
chased in the interest of PENNSYLVANIA.
the parent company Denials of this
story from Philadelphia, accompanied
by selling from that quarter. brought
the advance 10 only :. temporary halt
but as the truth or falsity Of this re-
port is only by inference. the con-
fident buying Of Western Union an
peared, and it was rumored a rae
agreement with the Postal Telegraph
Company had been arranged. The
short lines put out on the appearance
OF rival company were largely driven
TO cover in the case OF Tobacco, which
appreciated very largely. the gossip
being that such assets as were sup
posed TO represent an equivalent OF the
tobacco company'S interest in the Con-
unental company might be distributed
in some manner among the stockhold-
ers- Sugar was succesSively pressed
down on talk of decentralization in the
trade and lifted on the closing of an
independent company's refinery be-
caaase II found refining improbable at
resent prices, said the sugar bulls,
for repairs said the refinery re-
x1ed TO- The sagged movement in
rneriean steel and wire wass connect
ed with negotiations for the eonsolida-
ton Of independent companies.
The bond market. during the week
displayed considerable irregularfty.
: but there was decidedSlndertone of
strength which preyenI b any con,
cessions Of note on pu(Sineu
lines. United States old a y
coupon advanced nc. ) M