Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-10-09
FINANCE and TRADE.

NEW YORK, October 7.-Commcr-
cial Advertisers London financial ca
blegram:
The stock market here to-day was
fairly brisk and cheerful owing to the
absence of news FROM the Transvaal
and to the attitude of the Liberal party.
1t is reported on good authority that
the agreement with Portugal in con-
nection with the control of Delagos
Bay has been signed and sealed and is
to be submitted to Parliament on Octo-
Der II.
Americans opened firm and then cas-
ed off. Louisville and Nashville was
heavy.
Spanish As were at CO.'S.
Portngese were half point up.
Tintos touched AZ and closed strong
at 467s.
Anacondas were 1913.
The bank bought $4,000 pounds
worth of gold in American coin, $4,000
pounds worth in bars and $4,000 pounds
worth in French coin.
NEW YORK, October THE stock
market was much neglected to-day, the
yacht race proving the greater attrac-
ton. Prices moved narrowly, except in
a few industrial5, and the small room
traders had the market all to them
selves. They bid up prices after the
opening in the expectation of a favor
able bank statement. Prices declined
when the statement appeared but there
were no urgent liquidation and the. bid
ding up of Louisville to a point over
last night steadied the market. The
closing was rather irregular. Attempts
to still further depress Brooklyn Tran
sit met with resistance and the stock
gains a point net. Changes generally
are very small and mixed, but the ma
lority are gains. The bank statement
failed to show the large relief as a re-
suit of expenditures by visitors TO the
Dewey celebration, which has been
much harped on by spectators all the
week: Not more than million dollars
offset to the drain to the interior and
to the sub-treasury can be detected
from the bank return. The reduction
in the reserve requirement by reducing
loans $4,000, 200 was not sufficient to
offset the loss in cash and the surplus
Calls to $643,200. To-day's clearing
house statement shows the sub-treas-
ury a debtor to that institution for ST.
091, 800. Coupled with the receipt of
gold by to-day's incoming steamers,
this had the effect of counteracting to
a Slight extent the unfavorable bank
statement.
Prices of stock arrived at condi-
ton of stability during the week as
compared with the violent fluctuations
for some time past. This condition
represents the adjustment of values be-
tween the conflicting influences of
stringent money and prosperous bust
at present prices and unreadiness to
buy the market has been remarkably
dull. 1t has not been narrow though,
and the number of different issues dealt
in has increased and buying of odd lots
has Indicated the presence of the bar
gain hunter. Pressure of liquidation
has not been heavy even when money
rates were highest. The amounts loan
ed at the high rates, which were forty
per cent. On one day and So per cent.
on another, were a small proportion
and were caused by eager bidding of
belated borrowers, who had been dila-
tory about supplying their needs from
the earlier offerings, hoping for break
In rates later in the day.
The problem for the future is how
much farther the demand for the crop
moving purposes will encroach on de-
posts of interior banks with New York
banks and on call loans of interior
banks placed in Wall street. With the
Bank of England official rate advanced
to five perectn. and weak returns from
the great continental banks no further
hope is entertained of relief by gold i'm
ports. Indeed the conviction is general
that any relaxation of the local money
rate will result in a prompt demand
upon us by London for gold. The
movement of the crops will continue to
absorb money for several weeks to
come and the United States treasury's
surplus of revenue over expenditure
will continue to take money from the
open market, unless means are taken
to prevent it.
Bonds have been dull and have NOV
ed in sympathy with stocks. U. S. Is
declined Is, New As IS; IS, Is, and old
As reg. Is in the bid price.
S-i4aoA '"'..................... ZJ9t
I2aIt,,pa lTlelIeq 65s
Canadian Pacific ....................g lIe
Central Pacific ACKNOWLEDGEMENTS. 5Sjs
chesapeake and Ohio. %
chicago Great Western. ............,.. Ia
Ch.cago Burlington and Quincy. 12S3t
Nhlcago and Eastern Illinois. .......... 9S7s
chicago and Northwestern. 1851
DeiaWafe ana HUDSON ,.:............ .1221a