Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-15
Mexican dollars 471ac,
Government bonds strong.
State bonds inactive.

State bonds inactive.
Stocks-Prices of stocks traversed
quite wide range to-day throughout
the list, but net changes are almost
all fractions and the majority on the
side of losses. Money market prospects
continued the dominant influence of the
trading. The events of yesterday had
turned nearly all the traders on the
floor to the bull side and the market
opened with an upward movement or
prices, which extended to large frac-
ton on the average before reaction
airy tendency developed. Buying by
London helped on the advance and
there was special strength in number
of individual stocks, notably in General
Electric, which rose an extreme
points on runners of an extra dividend
and Consolidated Gas, which was up
at one time five points on a periodical
rumor of a settlement of the local gas
war. There was continuance of the
heavy absorption of Southern Pacific,
which gave a healthy tone to the rail-
road list. Profit-taking sales in this
stock were detected at an early period
of the trading and had not little
to do with checking the general up
ward tendency. The decisive influence
in turning prices downwardS was the
realization that yesterdays easing OF
the money rate was due to sporadic
supply of funds and not to any radical
change in the conditions Of the money
market. A large portion of the funds
leaned yesterday were attributed to a
cash deposit by one of the railroads
for the purpose Of taking up an old
underlying issue of bonds. This supply
of money had the effect of setting the
calling of loans for the banks made
necessary by the depletion of reserves
and prevented the stringency of the
money market, whuch had been feared.
The effect was manifest to-day as we'll
as yesterday, the rate for call loans
not going above 7 per cent. and ruling
generally below that. But the sterling
exchange rate showed quick re-
Spouse to this easing of the local mon
ey rate and moved an additional frac-
ton upwards away from the gold i'm
port point This caused a cessation of
the talk Of immediate gold imports, on
which was based the upward movement
of yesterday in stocks. Thus the hope
of relief by an inward movement of
gold had to be abandoned for the time.
Meantime the absorption Of funds by
the sub-treasury and the probable
continuance of demands from the in
terror have still to be reckoned with.
Discouragement overcame the operators
for rise and they proceeded to sell
out their holdings, wiping out the
earlier gains and carrying prices below
last nights level. Considerable specu-
lative activity is diverted to the cotton
market where the development of for
eign demand indicates the relinquish-
ment by foreign buyers of their atti-
tude of waiting for lower prices. AS
bearing on the general money situa-
ton it is important to note that the ad-
vices from the South report money in
abundant supply there. so that opera
tors have been able to obtain accommo-
dations for holding their cotton for
higher prices. The largely increased
supply of cotton bills in the exchange
market in the last few days with the
movement in cotton will naturally re-
suit in the early release of funds in
the South and hasten the return flow
Of money from that region.
Prices Of bonds moved somewhat ir-
regularly in sympathy with stocks. To-
tai sales, par value, s2,030,0oO.
United States new as and IS ad-
vanced 1s in the bid price.
HlSnison .-...,.... ..................-.... Y
10 preferred Sass
6aitmore and Ohio ..................... 5112
Canadian Pacific ACKNOWLEDGEMENTS 4L
Chesapeake and Ohio. 27L
Chicago Great Western. 14Z
Chicago, Burlington and Quincy. 1919
Chicago and Eastern Tflinois OK