Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-01-16

Tic dtCidSo utt IlSc III PRICES WdS
from 1 to Q points in the shares which
figured most extensively in the deal
ings. There was a diversion of inter-
ests from the Pacifcs into higher priced
stocks, the grangers being the gamers.
The excitement on the floor of the
stock exchange was tremendous.
There was an unusually large attend
ance Of brokers for the short session,
as the constant influx of outside or
ders rendered it necessary for the
large dealers to transfer considerable
of their business to the hands of
smaller brokers at the regular COM
mission between members. Stocks
opened buoyant and active. High
price records passed %unnoticed in the
confusion. Brokers fought to execute
orders and simultaneous transactions
in many shares were widely apart.
London had early received large pur-
chasing orders from this side, and the
quotations from that quarter showed
general advances. The rapidity of the
rise brought out immense blocks on
realizing sales, but the sustained buy
ing power of the market absorbed all
offerings after a temporary reaction,
and prices again mounted upward. The
market halted momentarily, pending
the publication Of the weekly bank
statement, but on its appearance, show
ing, as it did, increases of $4,732, 700 in
the surplus reserve and $3,042,20 in the
loan account, bullish enthusiasm was
resumed with violence. Commission
houses were easily the largest buyers.
The extreme gains in the Pacific were
only fractional, while in the grangers
they ranged from l in st. Paul to 3 in
Burlington and in the active coalers
from 1 to 25s. The Gould and Wander
bilt stocks were comparatively neg
lected, except Southern railway. The
;grehest strength and activity was
shown in the grangers, Atchison, the
Readings, Southern preferred, Federal
Steel and Brooklyn Rapid Transit.
Points of heaviness were Great North
ern preferred, Illinois Central, Metro
politan, Lead and Laclede Gas.
Generally speaking, while there were
some shares recessions from the ex-
traordinary high opening, the market
regained most of the decline. The
market closed with some irregularity,
but generally strong and active with
important gains in many cases. A
noteworthy feature was a large rise in
Burlington or renewed gossip concern
ing the prospective refunding of their
outstanding bonds. This talk, how
ever, was little more definite than
usual. New York Airbrake made an
extreme advance of 9 points, while
Southern railway preferred and Atchis-
on preferred were up over 2 points
each, and Federal Steel common, which
has lately been rather neglected, al
though reacting from top prices, ended
with a net gain of rs. The largest
trading in any speciality was in Brook
Ign Rapid Transit, which had an initial
rise of 2 points on confirmation of its
acquiring control of the Nassau Elec-
tsic company.
The weeks business altogether was
the most remarkable in the history of
Wall street. Transactions for the
week in stocks reached the enormous
figures of 5,S12, 900, making the daily
average for the full days sessions over
a million shares.
Dealings in the bond market were
attended with the usual marked varia-
tons in the semi-speculative issues.
There was in general a disposition to
employ idle capital in the stock trad
ing where the rapid fluctuations gave
promise of a speedy profitable return.
Investment houses reported that their
books were filled up with orders for
prime liens, and although issues of this
character came to hand through foreign
sales, the absorptive motive power of
the market prevented any shading in
prices.
U. S. Is advanced Il, and the IS and
the new As - in the bid price. U. S.
SIS coupons declined Il, do registered
a and the old As *.
Total sales of stocks were 70S, 435
shares. Quotations closed bid:
AtchiSon ......... rs
Baltimore and Ohio Observation-Disclosures. 6S4
Canada Pacific SO
Canada Southern 1o4
central racine 4o72
Chesapeake and Ohio INSTRUMENTATION. z
Chicago and Alton 1857
Chicago, Burlington and Quincy 1875
Chicago and Eastern lllino.s............ g.
Chicago Great Western ............... 1888
Chicago and North Western............145 1853
DO preferred
Delaware and Hudson ................112
Delaware, Lackawanna and Western 1912
Delaware and Rio Grande .............. A1A
DO preferred ~
Erie new) Il
Do preferred 1915
foFl wayne
Great Northern preferred .............160
Hooking Valley 2i2
limos central
Lake Erie and Western ................. 1872
Do preferred 6J1a
Lake Snore .:.:.
Louisville and Nashville ................ 6693
Metropolitan Street Railway ..........1S9
Micbioan Central .112