Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-17


! u. s. new As coupons. ........-.....-.l 9glz
~. s. old IS registered. llS
Y Old As coupons. ~. i59
~ 8 s. registered. .........-....iu II
U. S. IS coupons .-........-......iii
Government bonds buoyant.
! State bonds inactive.
Railroad bonds strong.
Stocks-The market for securities
showed an instantaneous response this
morning to the promise of relief to the
money market contained il Secretary
| Cages circular offering to redeem $685.
100000 of government bonds at the
market price of Wednesday. The first
hour of trading witnessed broad, ami
mated and buoyant market, the activ-
ity and strength being very generally
distributed throughout the list. The
rapidity of the advance invited consid-
| cradle profit taking and there were
| quick recessions from the opening level.
But the demand for stocks continued
unappeased and until the higher level
was reached again the buying contin-
ued. At the high level there was
diminuition in the demand, but the I'M
| dertone of the market continued re-
markedly firm and offerings to realize
| were quickly absorbed. The whole
market hinged on the days develop
ments concerning the treasury depart
| ment's offer, though the opening
I CTS ,~-tJ, NV hxs
| with London, where the markets were
| affected by the rumor of the death of
| the Boer general, Joubert The very
considerable amount of bonds brought
to the sub-treasury during the day sus-
| tanned the strength of the market. The
total amount offered was $2,S94,00, but
| Wall street was full of rumors of very
| heavy blocks of bonds accumulated by
banking interests for the express pur-
pose of availing themselves OF the first
offer to buy by the treasury depart
| ment. The aggregate amount covered
by these rumors was considerably in
| excess of the total amount of bonds to
be taken UP by the treasury. No con-
firmation of these rumors could be had,
| however. A buoyant tone was impart-
| ed to other government issues at the
| call on the stock exchange, apparently
on the theory that the offer of the sec
/ rotary of the treasury might later be
extended to include additional bonds.
| The money market was somewhat cas-
Ter in tone, but did not yield below five
per cent. The response in the foreign
exchange market, however, was mark
| ed. Posted rates for sterling were
marked up full cent in the pound
and actual rates rose zee all around in
spite of the easier money market at
London and at continental centres. The
1 strong tone of government bonds would
| aturally serve to discourage the accept
ace by holders of the offer of the treas
| ury department. So far as the avail
| able supply is concerned, it was known
up to recent time that the New York
banks would have difficulty in obtain
| ing additional government bonds as
security for government deposits in the
event of an offer by the treasury de-
partment to increase its deposits. There
has been some accumulation of bonds
| by the banks in the last few weeks,
| but no reliable estimate can be obtain
ed of how far their previous holdings
| have been increased. The previous
holdings were mostly in use as secur-
| ity for circulation and for government
| deposits, for that their sale to the gov
eminent would not serve to increase
the money supply in the market. 1t Is
not thought that private holdings OF
bonds and holdings by fiduciary insti-
buttons as investments will be drawn
upon to any extent in response to the
offer of redemption.
The bond market was active and
strong, the speculative issues and reor-
ganization bonds being favorites. Total
sales per value $3,570.000 United
States new As advanced 70, the IS and
old As registered y, and do. coupon and
Is n in the bid price.
A+chisan 1885
| no nreferred 661s
| palt;mora and Ohio ............ So
Canadian Pacific .......................9 4&
| Thesaneake and Ohio ................ 2Sls
| Cshicago Great Western ............... 1s4
Chicago, Burlington and Quincy........l3 S9s
| ShicaSo and Eastern Illinois. ......... o61s
| Chicago and Northwestern. ............. 1874
| Delaware and Hudson .....,.........-.lZz
Delaware Lackawanna and western lS91s
Erie ....... do
| Do first preferred ......:... ........-.', 9!A
Great Northern preferred ..,...........I,4
Illinois Central .........................lI LIP
Lake Erie and Western. y
| Do preferred ......... .................,
Louisville and Nashville ................ StPs
Manhattan II 1900. .;.....'..''''.''.'11 30