Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-14
Government bonds irregular.
State bonds inactive.
Railroad bonds irregular.

u. 3. 5S registered. litvua.f
u. s. IS coupons. ........................1l o7A
State bonds inactive.
Railroad bonds irregular.
Stocks-The stock market showed a
short-lived hesitation after the opening
this morning, and then turned upward.
There was no important back-set for
the rest of the day and the market
closed quiet and firm at about the top
level and at an average of prices a
point or more above that of Saturday.
The early hesitation was caused by
the general opinion that the increased
deficit banks surplus reserve as shown
by the statement Saturday, would nee
essitate a large loan contraction.
There was a large demand for money
during the day, and it became manifest
early that there was an abundant sup
ply. The bears who sold stocks Satur-
day in anticipation of forced liquida-
ton began promptly to-day to buy to
cover their short contracts. This was
a considerable element in the day.
strength. So also was the buying for
London account, which reached as high
IS $4,000 shares. This buying, besides
its direct effect, had sentimental in
fiuence as indicating reserve force in
that market against possible withdraw
ais of gold for shipment to New York,
The course of the foreign exchange
market during the day gave color to
the conviction in speculative circles
that gold imports are near at hand
The tone of the exchange market during
the day was characterized as democrat
lied. Demand sterling exchange was
sold at one time during the day at a
concession below 485. At that rate ii
is believed that a small loss would be
involved in the importation of gold.
But it was the belief on the stock ex-
change that such an importation would
be undertaken for the sentimental ef-
feet on the securities market. The ex-
change market steadied somewhat with
the late fall in the money rate. The
limited calling Of loans made it mani
fest that the contraction of credits on
last Friday had placed the banks in a
better position than was fully reflected
in the weekly bank statement Large
loans were made on account of the
local trust companies and the rate was
forced down from the opening at IL per
cent. to per cent. There was some
relief to the money market from re-
ceipt of over 81, 100000 gold from Cuba
and several hundred thousand dollars
to the assay Office on account of the
gold deposited at interior points. Out
side financial institutions are said to
be placing loans on large scale in the
stock market. A suggestion of posi-
BILE sources Of relief for local borrowers
aside from the banks is found in the
last balance sheet of the Manhattan
Railway Company, where the item of
loans on call for September 80, 1899,
had expanded over s15,OO0000 compar-
ed with the year before. The fact that
the general course of prices Of stocks
during the past six weeks has been
upward, while the New York banks
have been steadily contracting their
credits, indicates that borrowers must
have had other sources of supply on
which they have freely drawn. A fea-
ture of to-day's money market was the
enlarged demand in the stock at a
time for loan which were firmly held
at 6 per cent.
Prices Of bonds did not fully respond
to the strength in stocks, but there
were sharp rallies in some issues that
showed early weakness. Total sales
par value s1,5S5, 900.
United States old As registered adj
vanced Il and the IS Is in the bid price.
The SIS declined Is.
Stock quotations: