Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-01

||s| 4 B| |sss
Fo-d ay slump IA prices seemed u bes
distinctly development az the days
operations. There was q small att
tendance at the opening Of the stock
market and q seeming expectation of a
dull day based partly on the fact that
the running of the Derby in England,
and the consequent neglected trading
on the London exchange. Some of the
stocks which suffered most severely
in the later break showed signs Of
firmness and even of strength in the
opening transaction. This was not
ably true of sugar, Brooklyn Transit,
Manhattan and New York Central. But
signs of strength proved to be of short
duration and by noon the bears were
in complete possession of the field.
Early declines were obviously due to
manipulation, but as the bears gained
courage and assurances and extended
their raid they got richer and richer
returns, and before the day was over
the general process of liquidation of
long account had set in. Aside from
the srasmodic recovery of sugar in the
firt hour there was no material sup
port accorded prices at any point in the
list There were several developments
in the general situation that aided re-
action, but the decline seemed more a
general acuuiescence in the view of
the bear party that prices were as a
whole unduly high and that a lower
level of values must be accepted. The
belief that gold exports are unavoid-
able and probably imminent played an
important part in the reactionary
temper of the street. With sterling ex-
change at SASS for demand, which is
within a fraction of cent CT the gold
export point, and still rising, while
discounts in London continue to har-
den, and call money loaning in New
York to-day at IA per cent, it is not
easy to see how an export movement
of gold is to be avoided, though it is
just as difficult to understand why such
a movement under the circumstances
should excite alarm. The report of
case of yellow fever at New Orleans,
ana the resulting guarantees against
Louisiana gave more substantial rea-
sons for reaction in values, and the
railroads in that section were severe
sufferers. Surmises as to the effect of
the New York franchise tax bill and
fear of encroachment on the sugar
company's divisible surplus to carry on
the trade war, were made much of. A
sharp decline in east bound tonnage
and disappointing statement of earn
ings for the current month by North
ern Pacific, and of earnings for April
by the same road, the small increase in
the Burlington surplus after charges
for April, and denial that ST. Paul's
net decrease for April was due to any
increase in operating expenses, all
served to accentuate the feeling OF dis
cOuragement over existing values.
Some of the striking declines at the
extreme point was: Metropolitan, IS;
Sugar, 8a; Brooklyn Transit, ~;
Manhattan, SIS, and long list of spec
ialties from to over points. In the
railways, Burlington, the Minneapolis
& ST. Louis stocks, Southern Pacific
and Southern preferred fell from 8 to
31a points, while still larger number
of roads, including members of the
grangers, the Pacific and the Trunk
line group, fell between and points.
In the outside market the newly float
ed Amalgamated Copper stocks SOLE at
95, against the subscription price ~
par.
Bonds yielded in sympathy with
stocks, but were relatively firmer. Total
sales, par value, S4.465, 900.
u. S. IS. the new is and the old As
reg, advanced Is in the bid price, while
the old is coupon declined "a. The IS
coupon at 1091a, which is the record
price.
The total sales of stocks to-day
n oI f1 CHI n,,o
lions closed bid:
Atchison ....:..!. .....-................. ia
Baltimore and Ohio .................... g.
Canada Pacific OBSERVATION-DISCLOSURES. 1914
Central Paesfe a o,,o 1873
Chicago, Burlington and quincy. .127h
Chicago and Eastern Illsno.s...,.......a Sh2
DO preferred .............- LIZ
Chicago Great Western. ...............1 1875
Chicago and North Western. .159A
Da 80 pr ra a,d Hndson i99s.
Delaware, Lackawanna and Western. 1854
ERE (neW) ............ ...........r....... lZI2
10 preferred ........'.. ......'''''...,9f
Great Northern preferred ............172
illinois Central .........................1 Ill
Lake Erie and Western. 1874
, 10 preferred ........,. ................ 81 90
Louisville and Nashville ............... 64%
Manhattan l. ............. ...............10 1925
Metropolitan Street Railway. 209
Mschlgan central .......................ll 3
MISSOURI Pacific OBSERVATION-DISCLOSURES. 5g3s
New Jersey Central .....................11 ia
New York Central ACKNOWLEDGEMENTS "a
northern racine .......-.-.-............ 4ots
DO preferred ......... ................ 7512
IltlSpufB .......... .-..........,. ....-.Ie4
Do first preferred ........ ......... 56A
RocK lsfand .............. ....'..-...'.. IgS@t
81. Paul ...-.:.....s .-........,..-....-...l22
DO preferred ......... ............... .16Sl2
South2fn facinc ....... .-.............. z9t4
Texas and Pacific OBSERVATION-DISCLOSURES. j.
oToh FacaIic ........... 80
Do preferred ......... .................. 7t12
Wheeling and Lake Erie............... S2s
Do preferred ........-... .............. %
EXPIRES COMPANIES
Adams EXPRESS .........................11
American Express .....................13 S
United States Express. Az
Wels-Fargo Express ...................126
MISCELLANEOUS.
American Cotton Oil............ 33sl
Do preferred ......... ................. 90
American SPIRITS Observation-Disclosures. S$a
Do preferred ........... ............. 90
American Tobacco .....................9 SO
Do preferred .............. ............140
American Steel and Wire ......... So
Do preferred Observation-Disclosures. 9515
Federal Steel ......... ............... 54ia
Do preferred ACKNOWLEDGEMENTS 1917
General Electric .........................11