Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-22
Government bonds weak.
State bonds inactive.
Rai1r1od, br,y,f3e@ fi~roo,s

State bonds inactive.
Railroad bonds firmer.
Stocks The tone Of the trading in
| stocks was much cHfeter to-day than
/! for some time past No such pressure
of forced liquidation was observable
as yesterday and several preceding
days. As a result there was a general
and substantial recovery in prices.
! There was a large demand from the ex-
tensive outstanding short interest and
probably this constituted a principal
element in the recovery; but there was
also a very good absorption Of some OF
| the railroad stocks which had the ap-
| pearance of coming from large interests
who were satisfied to take on stocks
at the present level. Brooklyn Transit
continued to comprise large proper
ton of the dealings and the cessation
of pressure against it and other mem
bers of its group had an important in
i fluence in the recovery in prices. A re-
vised Interpretation of New York S
new franchise tax bill which would bear
less heavily on corporations than has
been estimated, found general accept
ance among spectators. The enormous
selling for some time past Of Brooklyn
Transit gave color to some current
rumors that the control of the prop
erty had changed to new and strong
hands. Those two influences were ef-
fective in relieving the local traction
stocks from the fierce attack to which
they have been subjected for many
days past and removed from the sltua-
ton the most potent element OF de-
preston The bears made some effort
to contest the advance and they found
vulnerable spots in Peoples Gas, SUI
gar, Tobacco and Tennessee Coal But
their success in affecting the general
! market was very moderate and their
efforts to cover in the very stocks
which they had attacked helped on
the late advance. In the railroad list
aggressive buying first developed in
! Southern Pacific, but an excellent de-
mand spread to other points IN the hst'
notably the grangers, which are all UP
from 1 to IL on the day
There were notable movements IN
Pullman, which rose 87s, and Anaconda,
which jumped Az points in the late
dealings on the extra dividend declar-
alton. The Chicago, Indianapolis &
| Louisville stocks gained 21a and "a
respectively. The Chicago GreatWeSt-
| ern stocks showed rather sensational
| declines, but later rose above yester-
days level, except for the debentures,
| which are off four points. London was
seller here in the early dealings ow-
ing to anxiety over to-morroW's meet
ing of the British cabinet, and thus
aided the bears in the early part OF the
day. A favorable effect was exercised
by the reported purchase in London or
$500, 900 of gold in the open market for
shipment to New York. No trace could
be found of the destination of this
shipment and foreign exchange houses
maintained that gold could not yet be
imported at profit. Sterling exchange
dropped a fraction nearer the gold i'm
port point, but is still well over lie
above that level. The call loan rate
in New York dropped late in the day
after the days demand for money haG
been practically all met. But the con-
| dition of the local money market was
not materially changed. A drop in
New Yorw exchange in Chicago indi-
Gated renewed pressure from that
source for funds. Saturdays bank state
ment is now expected to show the New
York banks in a somewhat stronger
position owing to the weeks contracts
of loans, but there has been no replen-
ishment of cash resources and the fu-
ture of the money market depends on
the prospective needs of the interior
and the prospective demand from the
sub-treasury for revenue payments.
The bond market was firm in tone
except for a late reaction in st. Louis
Southwestern issues. Total sales par
value $1,276,000.
United States IS and old As registered
declined Is and old As coupon Il in the
bid price