Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-07

Business was on far too small
scale on the Stock Exchange to-day 20
warrant any very well defined conclu-
sion as to the general temper of spec
ulation or just reelection of business
and financial conditions. But thero
was a very notable hardening of val
ues in railroad securities which was
followed up as the day advanced by
a rise in prices which embraced pretty
much every stock dealt in. This
strength started in Louisville, which
was very contidentially bought for
London account. The bidding up of
the price in this stock in the course
Of executing buying orders impaired
strength to the railroad group, South
ern Railway preferred and Norfolk &
Western preferred being the first to
respond and the grangers, Pacifics,
Southerns and even some of the trunk
lines following this lead. Pennsyl-
vania and c. &C. & st. l.. rose from
IL to 81, the latter stock, however,
closing all but IL advance. The mo-
tive assigned by the buyers was the
possibility that a more liberal policy
toward stock holders and less insist
ence upon REIMBURSEMENT CO resources
in equipment might follow the change
in administration MADE necessary by
President Thompson's death. But the
trading for the most part was pro-
foundry apathetic and there were min
utes at time when no tape came
from the ticker. The attention of pro-
fessional traders was all centered on
Sugar and the utterly erratic move
mentS of this stock disclosed the en-
tire uncertainty regarding to-mor-
rows dividend action. Advocates of
the regular dividend and of reduc-
ton seemed equally confident and
equally numerous, so that the stock
dipped deeply below last nights level
and rebounded far above it. The ex-
IRENE range was Az points and the
close was at a net gain of Ia and
within half of the top.
An incident of the trading to-day
were some large wagers in one hand
that to-morrow's dividend declaration
would be at the regular rate and Of
fers on the other hand to sell the divi-
dend on the large amounts of stock
for less than the regular rate The
same distrustful attitude is maintained
towards the iron and steel stocks, not
as to rate of coming dividend deciara-
tons and informal assurances that
cu.-ent earnings are far in excess of
the proposed dividend disbursement.
Even the preferred stocks of industri
ais, however regular may have been
their dividend records, continue far
below the prices of ordinary dividend
paying railroad stocks which make the
same returns on money invested This
distrust of industrials seems to be the
most important element in the present
dullness and heaviness of the market
A further small shipment of gold to-
day was as wholly without influence
in the stock market as well as in the
foreign exchange market as those that
have preceded in firm the same insti-
tuition. The conviction is general that
the outflow is the result of special
conditions and not of the general ex-
change situation.
The bond market was dull and gen.
orally firm, though there were a few
yielding spots. Total sales, par value,
S2,21c,000.
U. S. old AS reg and the SIS adj
vaneed Is in the bid price.
The total sales of stock to-day
amounted to 292 65S shares