Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-15
MeXican dollar 47hc.

u. s. old As registered. ...................1llA
y. S. old As coupons. ....................li5
Y. ?. oS registered -lli12
u. S. IS coupons. ..........................l
Government bonds steady.
State bonds inactive.
Railroad bonds irregular.
Railroad bonds irregular.
WASHINGTON, September ITO
days statement OF the condition of the
treasury shows:
Available cash balance, 1882, ,S51;
gold reserve, $256, SIC.
Stocks-The greater part of the gains
in prices which were established yes
terday and during the earlier part of
to-day were wiped out in the latter part
of the days trading. A period of al
most stagnation succeeded until the an
nouncment of the fixing of the St. Paul
dividend at the regular rate. The large
selling of the grangers induced by this
news was met by supporting orders
which rallied prices from the lowest.
Losses are the rule on the day, how
ever, which extend to point in many
active stocks. The rate for money was
not lifted above the lower level estab-
lished in yesterdays relapse and The
reaction in prices cannot be attributed
to calling OF loans. 1t was rather due
to a reconsideration of the optimistic
view engendered yesterday by the cas-
ing of THE money rate and the Sentl-
mental effect of the treasury depart
ment's decision to anticipate and the
payment of October interest on govern
ment bonds.
To-day's upward movement has been
reduced to its true proportions OF
bear scramble to cover short contracts
after having oversold the market in the
rush of heavy liquidation on the pre-
ceding days. Estimates varied widely
as to whether the liquidation had passed
sufficient lengths to reinforce the banks
against the present and future demand
upon their cash resources. Money con-
tinues to move to the interior and the
banks have parted with upwards of
$4,000000 to the sUb-treaSury since
last Friday. There was no evidence to-
day of further urgent contraction OF
credit, but the outlook for the future
is that further liquidation may become
necessary. Foreign houses are expect
ed to have put out considerable sums
in loans yesterday and to-day and this
mess of the foreign exchange market.
Discounts hardened to-day in Lon
don and Berlin in spite of the i'm
proved condition reflected by the Bank
of Englands weekly statement and
London bought stocks moderately in
New York in continuation with fort
nightly settlement. The failure to in
crease the St Paul dividend is accept
as an intimation that present pros
porous conditions of the railroads are
mot so we'll established but that ample
provision must be made against a re-
acession. The extreme decline from
the recently high point ranged from l
ito points very generally among the
active railroads. The grangers and
industrials were especially affected. In
the specialties movements were wider.
Brooklyn Transit was under pressure
all day and in the final dealings broke
its previous low record on the move
ment and fel to 96Ac, at which price
it closed 412c below yesterdays.
Tennessee coal ranged over 31a
points and closed with a net loss of &c.
Sugar, tobacco, the local municipal
stocks, Peoples gas, the iron and steel
stocks, were all weak before the close
of the day. A number of obscure
stocks showed wider movements than
the average. Pullman, Twin City
Rapid Transit, Mobile & Ohio, and
Pacific Coast common on second pre-
ferred, gained between 21a and 4
points, and Knickerbocker ice dropped
SIC. The United States milling stocks
continued their upward course and
gained 1Ac each. Bonds were only
moderately active and show mixed
changes. Total sales par value ST.
pS5,000
United States bonds unchanged in
bid quotations.