Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-29
Government bonds steady.
State bonds inactive. o
Railroad bonds firmer.

Government bonds steady.
State bonds inactive.
Railroad bonds frmer.
Stocks-The stock market showed
S~ympathies during the early hours of
the trading to-day Of having fallen
back into the condition OF lethargy
and sagging prices which marked the
trading last week. But the large out
standing short account showed itself
very sensitive to developments in the
wheat market. With the continued fall
in the price of that cereal and reports
of the enormous quantities of wheat
thrown upon the market to liquidate,
the courage of the bears oozed out at
the tips of their fingers and the scram-
bled to cover their short contract in
the late dealings with considerable
precipitancy. The result was a strong
closing at the top level with the rally
still in force and at a level of prices
from / to 2 points over last night for
many active stocks.
The bears were in full retreat all
through the list, even b. g. o. turning
from its persistent downward course
with a rally of three points from the
early decline. Sugar, Brooklyn Tran
sit, Peoples Gas and American To-
OdNNO al 1ldlC AOldDlC upWdIO LuON6-
ments, the latter apparently on a be-
lated appreciation of yesterdays divl-
dend declaration. While the break in
the wheat market was unqueStionably
the dominant influence there were
other points of strength which radiat-
ed a favorable influence. The coalers
advanced on the rise in the price of
anthracite. The southwestern stocks
moved uDWardc in oOmnonu on Tho
more favorable prospects Of the Texas
cotton crop compared with that in
other cotton States, on the large winter
wheat crop and on hopes of the corn
crop. Estimated by a western trade
journal that the winter wheat crop
and the wheat reserves would make up
the deficiency in the shortage in the
spring wheat crop had much to do
with the days movement both in wheat
n railroad stocks. 1t was made evil
dent that prices of stocks have not only
kept pace with the damage to wheat
but have been d~iscounting continued
deterioration. The rains in the north
west caused a sharp check to the spec
uiation on this basis.
The iron and steel stocks showed de-
cided strength and a marked disregard
OF the rather pessimistic views express
ed of the trade outlook BY the Iron
Age. The movement Of prices in the
steel group gave a pretty clear init
nation that increased demand is being
met on the decline in prices. Opin-
ions are heard that any further reae-
Ions in prices will insure a violent
rebount when the consumers needs
begin to be felt and orders are placed
and when the turn Of prices has EVIL
IDENTIFY been made. Certainly the
course of the steel stocks to-day was
in singular disregard of the current
news of falling prices and probable
difficulties over the adjournment of
wage scales for the coming year.
The money market continued quite
unrufled. The decline Gin exchange
was checked to-day with the sharp au-
vance in call loans in the London mar
ket and the marking up by Ad of the
Bank of England's price for gold and
for American eagles. The decline in
exchange is said to have been caused
by the coming upon the market of long
sterling bills which have been held for
maturity and are now being sold as
sight bills. AS they had figured mean
time as collateral for loans their liqui-
dation now involves the paying off of
loans and may thus help to account
for the current ease of the money mar
ket.
The bond market was not active, but
prices were firm. Total sales par value
Sl.050,.
United States bonds were unchang-
ed in mid quotations.