Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-03-20

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New York, March 49, Commercial
Advertisers London financial cable-
gram:
The markets here were extremely
quiet and generally heavy to-day.
Americans were featureless, a quarter
to One-half under parity on fears or a
bad bank statement.
Tintos were 29%. American C0ppers
were easier. Anacondas 5 1916. utahs
TX, Boston IA. Discounts were firm-
er, the margin of loanable capital de-
clining.
Stocks-The change in stock prices
compared with yesterday was very mar
row. In the early trading prices DRIFT
ed downward, notably Continental To-
bacco, International Paper, American
Steel and Wire, Brooklyn Transit, Bur-
lington, Texas Pacific and Metropoll-
tan Street Railway. The movement
seemed to be in the nature OF discount
ing an unfavorable bank statement, for
when it was published, showing a de-
crease of over 100000 in the surplus
reserve but contraction on some three
and half millions in loans, cover
ing of short contracts set in. Metro
politan, Brooklyn Transit and most OF
the other stocks which had shown ear
lier recessions were lifted smartly.
Interest very largely centered in SUI
gar again to-day and the stock closed
within a fraction of the high point,
l721, yesterdays closing being 1641a.
Tennessee Coal and Iron also showed
improvement on the day. There were
declines of from fractions to per
cent. in Tobacco and some of the new
industrials, including Continental To-
bacco, International Paper, American
Tinplate and American Steel and Wire.
The railways left off practically on a
parity with yesterdays closing. The
market closed strong and active.
The stock market was of very pro-
fessional character throughout the
week with standard shares generally
receding, as did number OF the I'M
seasoned ihdustrials, but Sugar was
marked UP over 20 points, with some
influence on certain stocks. The money
market was the all-important influence,
call money averaging four per cent,
although at one time 1t touched b.
There was a reflex easing in Sterxng
exchange and hardening of meley
rates in all foreign markets. The
banks were in receipt OF urgent re-
quests for currency, especially notes
from western banks, but the scarcity
of currency here was reflected IN the
payment early this month of over "a
per cent. of the customs duties in gold.
The payment of 100000 to the gov
eminent in part settlement of the Cen
trail Traffic obligation, together with
the purchase of Chicago and Alton
stock, for which a large sum was trans
ferred to the former owners were part
ly responsible for the hardening in the
money market. An unfavorable bank
statement had been expected and when
it appeared there was some covering.
The decrease in surplus revenue Of
over $4,000,000 was thought to be
largely due to those special transmits
sions. The uncertainty at this season
regarding winter wheat, together with
predictions that February net traffic re-
turns would not be up to expectations,
had depressing influence in the rail-
ways. On the other hand, earnings
for the first week in March showed an
increase of about one per cent. The
decrease of some eight and quarter
million dollars in value of the excess
of the February exports compared
with last year was a subject of COM
ment in relation to our foreign trade
situation, but the items showing in
creases in the exports of manufactured
articles was d source of qualification.
The signing of the peace treaty by the
Queen Regent of Spain being expected,
caused no response in the market.
The industrials and specialties were
more prominent in the dealings than
at any time hitherto. All the adj
vances of note were made in securities
of this class, with Sugar the leader.
This stock, after remaining compare
lively steady, suddenly sprang into
activity on Thursday on transactions of
over quarter of million shares, rose
29A points above the price of the pre-
vious day, reaching ITO, and then re-
acted to ISL, and on Saturday again it
rushed up to 1721a Various rumors at
tended the remarkable movement in
Sugar. All the independent refineries
and the Glucose company were men,
toned as about to form trade agree
ments with the Sugar company or be
absorbed by it. All these stories met
prompt denial from the various con-
Germs mentioned or interests which
should be posted, except in the case of
the president Of the Sugar Refining
Company, and he made no statement.
Along the other notable advances were
New York Air Brake. 1914; Tobacco,
1885; Brooklyn Transit rs; Glucose,
~, while Chicago Terminal, Great
Northern preferred, Peoples Gas, Ten
nessee Coal & Iron and Metropolitan
Street Railway were up about points
each. The largest declines were Con-
solidated Gas, g. Continental Tobacco
61s, do. prefer 6; American Steel, AS;
international Paper preferred AZ.
Business in bonds decreased during
the week, with the market showing a
yielding tendency.
United States threes, old tours reg
istered and the new fours coupon ad-
vanced %, and do. registered, the fves
and old tours coupon Il in the bid
price.
The total sales of stocks to-day were
$3.50 shares. Quotations closed bid:
<AISiiiaolI -. ACKNOWLEDGEMENTS. y
10 preferred ACKNOWLEDGEMENTS. e0A
Baltimore and hio.................6 60
Canada Pacific Observation-Disclosures ssh
Central Pacific .............,... 80
Chesapeake and Ohio. 263s
Chicago and Alton. ...................l1O
Chicago, Burlington and Quincy l4Ola