Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-28
Government bonds weak.
State bonds inactive.

SLdl6 JULIUS llldCllfS
Railroad bonds strong.
Stocks-The market for securities
showed the effect Of the great relief felt
by the dissipation of several factors OF
apprehension and prices mounted up
ward with increasing buoyancy as the
day progressed The market closed
with a burst Of animation and strength
at the top level of the day Net gains
in number of important railroads
reached points with long list Of ad-
Nances a point or better. Among the
industrials and specialties gains were
even more striking, quite number
having advanced from to 10 points, as
result of the days trading.
Demand from an outstanding short
Interest to cover accentuated the
strength of the latter group, those
which have recently suffered most
showing the greatest benefit from the
days business. Brooklyn Transit was
almost a solitary exception and was
subject to vigorous attacks all day in an
effort to unsettle the market and check
the advance. But this stock, although
st ranged over more than four points,
closed with a net loss of only point.
The leading influence in the improve
ment of the sentiment was the quiet
and orderly manner in which the peri
odical settlement on the London stock
exchange proceeded Since the last set
clement on that exchange Great Britain
has suffered three notable reverses to
its arms in South Africa, its three COL
umns of INVASION have been paralyzed,
and as a result alarm spread through
the financial centres of the whole world.
Grave fears were felt that the result
ing shrinkage in values would prevent
many operators on the London ex-
changes from meeting their engage
ments at the current settlement. The
news this mornine no acute diff
culties had developed; that money con-
ditions were easy and prices inclined to
advance rather than to decline, brought
immense relief, which was promptly re-
fected at the opening here in an adj
vance all along the line. The only
notable check came with the news Of
the failure of the Boston Stock Ex-
change house. but this influence was
only temporary and slight. The con-
dition In the money market was nota-
bly, easy and one Of the largest indi-
vidual money lenders in the street
made large loans to carry over until
next Tuesday at the rate Of per cent.
The current rate ruled from to 5 per
cent. The close of the year is univer-
sally expected to terminate the period
of severe stringency and to be followed
by relaxation, owing to disbursements
of dividends and interest, which will be
on an unprecedented scale. There was
some discussion of the probable amount
of gold exports on Saturday. These
are now expected to be large, owing
to the easier conditions in the London
money market. The buying to cover
short contracts, although it was a cou-
siderable element in the advance, was
itself induced by the very substantial
character of the buying for long account
and the manifestly small supply OF
floating stocks. The trading did not
take on any great animation until near
the close and the individual transac-
tions were not on large scale. In
fact the number of lots traded in was
a feature Of the day and reflected the
investment demand by buyers who take
stocks out Of the market to lcck up and
keep.
Investment buying was in evidence
also in the bond market, wherever the
fall in prices had offered opportunity
To secure fair return on money invest
ed. The bond market was active and