Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-08-16
Government bonds steady.
State bonds inactive.

-
L. S. 5s coupons .uli2
State bonds inactive.
Railroad bonds irregular.
STOCKS-The bear element was in
evidence all day to-day in the stock
market and came off with flying col
ors. They made vigorous attack
in the morning and by o'clock SEEM
ed to have exhausted their efforts.
The average level CT prices, including
the m" i0rity of standard stocks rose
at that ire to the best prices of the
Cay in sympathy with the sensational
advance of American Tobacco, but in
the last hour of the trading the bears
concentrated a vicious assault On
Brooklyn Transit. They drove that
stock down an extreme SIS to / 0S1a,
cessively overriding all efforts to sup
port values. The industrials special
ties suffered most severely and the re-
action in the railroads reached a point
in only a few cases. A few of the
railroad stocks which had shown early
strength succeeded in retaining net
gains. In the list of industrials out
side Of the Tobacco stocks not a sin
gle stock Of Importance retained any
net gain. American Steel and Wire
was under pressure early in the day
on account of disappointment over a
published statement purporting to
give the financial condition and the
earnings of the company But the
stock had recovered all but "a of the
early loss when it was attacked again
and fell with Brookly Transit to the
low point of the day, 31s below last
night.
All the iron and steel stocks were
affected in sympathy and Tennessee
Coal dropped an extreme 81 and closed
at last nights price, after having been
PA above in the morning Peoples
Gas also showed keen sympathy with
Brooklyn Transit and lost an extreme
2ss. Sugar was a sufferer and was
knocked down 37a points. The vol
ume Of sales at the low point was
small, except for Brooklyn Transit and
Steel and Wire and there was a quick
and violent rally in Sugar, Peoples
Gas and Tennessee Coal on a rush to
cover by the shorts. Brooklyn Trans
it's net loss is AS and Steel and Wire
3 points. Manhattan was very weak
in sympathy with Transit in the early
dealings, but it had rallied quite strong
ly and loses 1@1A net, Conspicuous
movement of the day was that of
American Tobacco. The stock reacted
IL before the late raid on Brooklyn
Transit, but moved up strongly in the
very face OF the bear raid to near the
top figures. The days taking of the
stock were on an enormous scale and
its net gain is points. The CONT
mental Tobacco stocks were strong in
sympathy. There was a notable up-
ward movement in the Iowa Central
stocks on talk of heavy earnings They
showed net gains Of l and rs respect
lively. Colorado Midland preferred
went uD merely a point. There was
period of strength also for Kansas &
Texas preferred, and Southern and Cen
trail Paci6cs, but their gains were almost
wiped out in the late decline
The holiness of the bears was due
to a conviction that since the market
refused to go up yesterday on the much
improved conditions of the local money
market nothing else in sight likely to
give an upward impetus to prices The
recent activity of various pools which
have taken on heavy lines of various
stocks in spite of the general apathy
of the market also made the market
vulnerable to determined attack. A
jump in the Berlin discount to-day of
" per cent. and the hardening tendency
of London discounts had a depressing
effect. There was a holiday on the
Paris bourse, but the course of events
in France arouses anxiety in the finan-
cial world.
Call money worked easier in New
York, but there is still a belief that
the money thus placed will be needed
soon in other channels. The creation
of a large short interest of course has
strengthened the technical condition of
the stock market.
There was heavy realizing in K. &
=. DDS. Kansas City. Pittsburg & Gulf