Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-07-07
government bonds steady.


Government bonds STEADY.
To-morrow's bank statement is ex-
pected to show gain in cash of up
wards OF $3,000000 nearly $4,000, 900
of which comes from sub-treasury ope-
rations in the payment OF government
bond interests. This makes the imme-
date future in the money market clear.
But speculative surmise begins to con-
Germ itself with the more distant per-
iods when the sub-treasury will begin
TO take up the surplus revenues from
the money market when further calls
of government deposits will have to
be me tand when requirements or NOV
Ing the crops will be felt, New York
exchange at Chicago has gone to a dis
count and there was a sharp fall to-
day at New Orleans. The private dis
count rate in London continued to
harden and the Bank of England raised
its price for gold bars 20 pence. The
rate for both sterling exchange and
Berlin exchange in New York rose in
response.
The bond market to-day was dull
outside of sales of Reading general As
and the market was irregular. Total
sales, par value, 81 ,020,000
in bid quotations.
Stocks-The professional operators
in stocks who have been able to man
ipulate prices for an advance, owing
to the small amount of floating stock
in the market, found their efforts to
maintain the higher level unavailing
to-day There was nothing in the
news of the day that exerted any
marked influence on the market and
che relapse must be attributed to the
natural reaction attending profit TAX
Ing on an advance and the renewed
selling for short account attracted by
the higher level of prices and the palp-
ably shaky condition of the market as
the day progressed.
The lower prices for Americans IN
London had little effect as on previous
days and the professional bulls resum-
cd the tactics which were so success
ftl yesterday in lifting the level Of
prices. But it became manifest early
L the day that yesterdays sustaining
influence in the strength of New Jer-
sey Central and its allied stocks was
lacking to-day. Nevertheless con-
siderably higher level of prices was OBJ
tanned in the grangers, B. & 0. and
Missouri Pacific. Sugar, the local
fractions and Peoples Gas were also
strong.
The steel stocks suffer ed from real
izing on the published report that steel
interests were comforting to maintain
prices. The London selling was per-
sisted in later than usual and had the
effect in combination with the break
in the steel stocks The later efforts
of the bears conferred on Louisville G.
Nashville, which declared a 2 per cent
dividend on this stock for the semi
annual peribd which was called 11s
percent regtAar. and y per cent extra.
The price of the stock was afterwarl
rushed up on the assertion that the
coming semi-annual disbursement
would be 21s per cent. Later came in
timations that it would be per cent,
but would be called regular semi
annual dividend. Now the traders are
selling the stock on the surmise that
at Mondays dividend meeting there
will be declared IL per cent regular
and " per cent regular, as was done
in January. Other stocks which have
been prominently mentioned for divi-
dend prospects were most sharply al
fected in sympathy, notably Missouri
Pacific and Baltimore & Ohio. after a
rise of 1ss, and Reading first preferred.
The whole market Eel! below last
nights levels and closed heavy at
about the lowest. United States Rub
Der fell Az on the failure of the direc-
tors to declare the expected one per
cent dividend for lhe quarter. The
shock rallied points.