Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-01-25

4.S2M for SO days; posted rates
$4.83h@4S51a
Commercial bills $3.50.
Silver certificates 59h @601sc.
Bar silver $3.50.
Mexican dollars 47hc.
T., S. new 1919
L. S. new As registered.
L.. S. new As tl5t1zMl3y7
L. S. As registered utiz72
u. 5. As ..I11T4U1A"
U. S. Observation-Disclosures. we
U. 5. IS registered ........".--...1lasqn2
l.. S. IS QlIf
Government bonGs weak.
State bonds strong.
Railroad bonds weak.
Stocks-Enormous realizing n
short sales to-day materially affected
the quoted price of stocks. The deal
ings were in excess OF a million and
a third of shares and at no time did
prices of the higher valued railroad
stocks reach yesterdays closing hg-
ures. Heavy sales in the early deal
ings were caused partly by the lower
range of London quotations and there
were numerous declines exceeding a
point. A sharp upward movement fol-
lowed support being extended to Mich
igan Central, Union Pacific preferred,
General Electric, Peoples Gas, Man
haitian and Missouri Pacific. New Jer-
sey Central, Tennessee Coal and Iron
and Federal Steel common were also
lifted. The trading element began to
sell freely as the effect OF heavy profit
taking was appreciated. The market
at first became dull as prices receded,
but the selling gradually assumed
large volume and quotations rapidly
crumbled away, eventually weakening
practically all stock traded in. In the
absence of unfavorable news the re-
action was attributed . to technical
conditions. By reaching stop-loss or
ders in the more active shares mater
ial slumps occurred in prices with as
much as a point OF more difference in
quotations between transactions.
Money continued, and the banks were
expected to make, another heavy gain
in cash this week. The movement
of money from the interior and from
California continues heavily in favor
of New York. The lowest price of
the day was made in the final hour,
and selling at that time wiped out the
gains in stocks made earlier in the
day.
The extreme breaks in the Wander
bits ranged up to ~ in Northwest.
In the Flower specialties the largest
break was in New York Air Brake, 6
points. The drop in the grangers
ranged from 2 points in Rock Island
to ga in Burlington. Among the coal
ers the slump ranged up to Az in
Reading first preferred. In the Pa
ciic the extreme drop was 4 points in
Union Pacific preferred. Pennsylvania
dipped 3A, Manhattan and Metropoli-
tan "a each, c.. c. C .& st. l.. 2,
Tennessee Coal and Iron 2, American
Malt 3 and General Electric 212. New
York, Ontario & Western was the most
active stocks in the days trading,
dropped 2h points. 1t is estimated
that London at n time sold $4,000
shares, a portion of which was taken
back on arbitrage dealings later in the
day. The resistance the market dis
played in the forenoon nOtwithstand-
ing the heavy assaults made D on it
by the traders was explained by the
fact that during the progress of the
raids several prominenN interests were
large purchasers. They professed to
see no change in the situation, point
ing out that there was no danger in
sight of a scarcity of money and that
tne market was likely W receive sup
port by the purchases made in the in
terest of institutions and individuals
who had large supplies of funds seek
ing employment. A number of wagers
were settled to-day when Missouri
Pacific on dividend rumors crossed
Northern Pacific common in the fore
Moons trading. A feature of the mar
ket was the resumption of activity in
the middle class and low priced stocks.
The bond market displayed early
strength, but later yielded in sympathy
with the reaction in the stock market.
Total sales $3.50, 900.
U. S. 3s and the old As coupon de-
clined Is in the bid price.
Total sales of stocks to-day were
1,382,9S4 shares. Quotations closed
hid.