Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-08
Government bonds weak.

Government bonds weak.
State bonds inactive.
Railroad bonds firm.
StOcks-A midsummer lassitude
hung over the stock market throughout
the greater part Of the day and the
trading drifted listlessly in the dol
drums. Wall street will take advan-
tage of hot day to curtail its labors
when there is that doubt about the
outlook which composes what is called
waiting market. But the hot
weather does not deter the ever-watch-
ful eye of capital from availing itself
of offered opportunity. The burst of
animation in the last hour Of to-day's
stock market indicated that Wall street
was not so dead as all the earlier ap-
pearances gave reason to suppose.
Speculation was almost at stand
still during the morning session, even
the professional traders waiting for
action on the sugar dividend and also
on that of Atchison preferred. The
aimless drifting of sugar certificates
prior to the announcement of the divi-
dend and the smallness % the transac-
lions seemed to indicate that the spec
ulative community was wholly at sea
as to what the actioIs of the directors
would be. The price dropped below
last night after the opening advance,
but recovered sharply some three
points before the news became known.
The announcement of the regular divi-
dend caused realizing sales and drop
of two points. The shorts were so
eager to cover that the decline was
checked almost immediately and
subsequent recovery amounted to
about five points. The drop after the
dividend announcement seemed to give
the shorts some degree of confidence
and the pressure to buy was not urgent
at the advance. Considering the
length of the bear campaign based on
an implied doubt of the regular divi-
dend, it can scarcely be that the short
interest has succeeded in anywhere
near covering the lines put out during
the campaign. The declaration of the
regular dividend has by no means con-
verified all of the bears, who still argue
dire effects from the trade war The
declaration of Il per cent on Atchison
preferred was the more potent influ-
ence in putting up prices in the latter
part of the day, though the effect must
eregarded as SURPRISINGLY small re-
garding the recent activity of the
bears on the doubts they expressed
that dividend would be forthcoming
on this stock. The dividend is called
regular semi-annual and comes out of
the earnings for the last fiscal year,
with the statement by the directors
that sufficient remains for another sim
liar dividend in January newt There
was a large demand for the grangers,
which advanced prices in the group
from l to 80 points, which spread to
other points in the railroad shares
Fort Worth and Rio Grande was
marked up four points and the New
York municipal stock rose sharply.
Stocks which have been recent favor
ties in London, such as Anaconda and
the Southern railroad stocks. hung
back under the influence of depression
In London on account of unconcilia-
tory attitude of President Kruger. The
iron and steel stocks also hung back,
Steel and Wire dropping at one time
three points on published doubts of
forthcoming dividend. The obstinate
resistance of railroad stocks to the de-
cline, the present and prospective easy
conditions in that and more cheerful
view of the crop prospects all con-
tributed to the late strength in the
stock market.
Railroad bonds hardened in price in
sympathy with stocks. but business
was not on large scale. Total sales
par value $2,100,000.
U. S. IS declined Il in the bid price.
The total sales of stocks to-day
amounted to SS5,626 sha.es. Quota
tons closed bid