Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-04-03
Government bonds weak.
State bonds strong.
RailrOad h0Ode strong

lldl hCL l1lduC a OIL OnS OPOA1A6 t0-Qdy
on large buying orders which had ac-
cumulated in commission houses over
Sunday, and in response to the con-
tinued demand for London account.
The influence of Saturdays favorable
bank statement was still felt and the
room traders were inclined to the
bull side. There was a large absorp-
ton of the leading iron and steel
stocks, which was attributed to the
operation of pool. and the buying
of peoples gas is said to be included
in the same plan. There was large
buying of Anaconda On foreign ac-
count in sympathy with the strength
of coppers both in London and in
Paris, where the short interest is III
evident distress. But notwfthstand-
ing these favorable auspices and the
additional benefit of some extraOrdi-
narily strong statements Of earnings,
the strength of the market was not
maintained. The early demand was
ing profits by last weeks buyers. The
very freely fed for the purpose of TAX
persistent weakness of Sugar had an
unsettling influence of the list The
early strength of iron stocks gave
way to quite acute weakness after the
assembling of the annual meeting of
the stockholders of the Federal Steel
Company. The settling movement
seemed to gain force as the hour for
closing approached and the actual
close was active and weak and net
losses largely predominated. Some of
the railroad stocks, which had been
notably strong lost practically all their
gains, or at the best had them largely
diminished. The Pacific stocks and
the grangers were conspicuous ex-
amples. Quite number of usually
inactive railroads were strong, notably
the Lake Erie & Western stocks, the
preferred stock jumping 1925 points
to par, and the common rising an ex-
treme Az. The fall of sugar was ac-
companied by reports Of new cuts in
the price of coffee, the war in the cof-
fee trade being waged by the same
rival interests as that in the sugar
trade. The weakness in the iron
stocks seemed to be due to disappoint-
over the showing Of earnings made
ment on the part of the SPECTATORS
by the Federal Stee. Company. The
drop in Federal steel from the early
high point was 4B and in steel and
wire over points. Other stocks in
the group were less actively traded in,
but all showed weakness. The days
statement of net earnings for Febru-
airy included gains over last years
February net earnings of "a per cent.
for Norfolk G Western, &C per cent.
for Rio Grande & Western. So per
cent. for Union Pacific and SO per
cent. for Louisville & Nashville. The
stocks of these companies showed
good resistance in the reactionary ten
dency, but the conditions thus reflect
ed of railroad business were not suffi-
cient to hold the general list. Money
was easy, though not much effect was
felt from the disbursement of quar-
terly interest and dividend payments.
Sterling exchange continued it's up
ward course and the question is now
arising whether the increase in the
circulating medium by the operation
of the law of March IA may not result
in sending gold abroad by relieving
the need for it in circulation, which
had come to a pause, is reported from
Washington to have received fresh
impetus and the sub-treasury in New
York is again paying out large
amount for premiums on converted
bonds.
The bond market was active to-day,
Wabash debenture BIS being absorbed
on a large scale. Prices generality
re higher. Total sales par value 3d.
$4,000.
United States refunding Is (when
issued) declined " and the Is and old
As Il in the bid price.
Atchison ...... 1884
Do preferred OBSERVATION-DISCLOSURES. q
Baltimore and Ohio Observation-Disclosures. S1A
Canadian Pacific .........-......-........ -