Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-02

q. -. .. ..
Z. S. 5s registered. ~ .-...,.-....l l2ls
u. ;. 5s coupons. .llz72
Government bonds strong.
State bonds irregular.
Railroad bonds weak.
Stocks-The bears made some fur
tier progress in forcing prices to
lower level to-day, but they were by
no means ia so aggressive and conf
dent mood as yesterday. There was
very heavy covering of short contracts
during the course of the day, and last
prices are materially above the lowest
even in those stocks which show the
heaviest net losses. The bears met
determined resistance in some of the
stocks which have hitherto proved
most vulnerable to their attack. The
latter part of the day showed dis
tinctly improved tone a.Id upward ten
dency of prices with no disposition ap-
parent from the bear faction to make
further ventures for the present. After
the opening dip in prices there was
the usual professional covering design
ed to meet the orders of outside opera
tors. The resulting rally was short
lived and the bear party then made
their demonstration in force. They
brought out heavy liquidation in the
tobacco stocks, Western Union, Metro
politan Street Railway, Manhattan
and Brooklyn Transit, and extended
their operations in spite Of the weak
ness in the wheat market to the gran
ger group. The Union Pacific and
Northern Pacific stocks were sayagely
attacked simultaneously with the ap-
pearance of the statement that I'm
ion Pacif1c's net earnings for April
showed decrease of over $4,000
compared with the corresponding per-
iod last year. Coupled with a similar
statement of Northern Paciic's earn
ings which appeared yesterday, this
caused a break in the stocks of the
two companies ranging from per cent.
in Northern Pacific up to 1H in Union
Pacifis. The extreme decline in Met
ropolitan Street Railway was points.
The continued weakness of amalga-
mated copper which sold down to 81
on odd lots on the outside market serv-
ed to encourage the bears as indicating
an abandonment of purpose on the
part of the powerful interests behind
that property to support the price any
longer.
1here were several developments,
however, during the day which served
TO dissipate bearish enthusiasm. 1t
was noticeable that nothing further was
heard of the yellow fever scare, and
roads in the territory affected were
firmly held in the stock market all
day. London was larger buyer of
Louisville in spite of other elements
of weakness in that market. This and
the easing of call money in London
after the settlement caused an easier
tone in the sterling exchange market
here and SO mltigated yesterdays ap-
prehensions of immediate gold eX-
ports. The reported large selling of
wheat for southwestern account help
ed to keep the railroad stocks of that
region firm. There were reports of ia
vorable conditions and prospects in the
anthracite trade. A scrutiny of the I'm
ion Pacific statement showed that the
decrease in April net earnings was ac-
counted for more than twice over by an
increase in operating expenses, much
of which was understood to be going
into permanent improvements and bet
terment. There were evidences also of
positive strength in Sugar, Rubber and
the Smelling stocks. When Metropol-
itan Street Railway suddenly bounded
upward a point at a time to 206 the
bears were quick to take alarm and
other conditions also pointing a warn
ing, they rushed TO cover. The ex-
IRENE gains from the low point were
in Metropolitan seven points, Sugar
five, American Tobacco, 315, Continent
al Tobacco and American Tobacco,
each; Brooklyn Transit, 21a; Burling-
ton, nearly 2 points and many other
stocks point or over.
There was an easy tone to the bond
market, in sympathy with stocks, but
losses were not so conspicuous as in
stocks. Total sales. par value, ST.
100000
U. S. new As advanced y, and the old
As reg, 4 in the bid price
The total sales OF stocks TO-DAY
amounted to 643,769 shares. Quota
tons closed bid:
IA Dq Pim prsler aed ONO S9ls
Canada Pacific ACKNOWLEDGEMENTS
Central Pacific Observation-Disclosures. son.
Chesapeake and Ohio .............. 23s7
Chicago and Alton ....................16 1850
Chicago, Burlington and Quincy 1878,
Chicago and Eastern Illinois. .......... 73
Do preferred ........................ l211S
Chicago Great Western ............ 1919
Chicago and Northtwe tern......... 1885,
Do preferred ........... ........ $50
Delaware and Hudson il6
Delaware. Lackawanna and Western lsi
Erie tnS%1 ---...---. ---...>-............ II
Do first preferred ......... ....... So
Great Northern preferred ....l 65
Illinois Central Observation-Disclosures 10iS
Lake Erie and Western. l5Is
Do preferred ......... ............. 81
Louisville and Nashville ............ S5s
Manhattan IL .......-. -................. 1851,
Metropolitan Street Railway. 20S
Michigan Central ACKNOWLEDGEMENTS I3
Missouri Pacific ..................3 qla
New Jersey Central ...............l III
New York Central .........I2 1918,
Northern Pacific ACKNOWLEDGEMENTS ;se
Pittsburg ........... .............. ia
Reading .......4 ........... .. 1s1s
Do first preferred ............. 49,. 56i.