Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-27
Government bonds strong.

Government bonds strong.
Stocks-The bull contingent in
stocks failed to realize their expecta-
tons to-day, though the changes at
the close show net gains for the ma
jority of stocks. Final prices, how
ever, were considerably below the best
and the lone of the market during
the latter part of the day was decid-
eddy unsettled and spotty, in spite of
the sustaining influence OF notable
strength in some stocks.
The opening rise was in sympathy
with London, and was attributed TO
the effect of the news from China anu
the relief of Tien Tsin. Later adj
vices showed that the periodical set
Element in London had disclosed an
Unexpectedly large bear account in
Americans, and the London buying
was the covering of short contracts.
II was especially effective in some o.
the Southern railroad stocks. The
New York market, however, showed it
self Indifferent TO the progress of
events in China, as it has consistently
done throughout, and. the opening 'ad-
vance was largely lost.
The first rally in the market follow
ed the sharp break in the wheat mar
ket. and was most noticeable in the
Southwestern grangers, especially
Burlington and Atchison preferred.
Crop news continues bad from the
spring wheat region, but the specula-
tors who have been buying wheat are
evidently impressed with the willing
ness of the farmers to take the price
offered and the wheat market showed
continued realization to-day, with a
reverse sympathetic effect on grain
carrying railroads.
The weekly statistics of railroad
traffic from Chicago show an increase
in the grain traffic of western lines
for the week of 80 per cent. over last
week, reaching the best figures for
the corresponding week in five years,
with the exception of last year. The
deliveries at primary points ran up
9.4 per cent. over last year., showing
the attraction of present prices for
the real holders of wheat. This dem
onstration 6etracted somewhat from
the alarmist reports of wholesale dis
aster to the crops, and additional at
tention was given to the hopes of the
corn crop. 1t was evident, however,
that the buying of railroad stocks
came largely from the short interest,
who were willing to take profits at
an advance in price, but who were
not pressed to take losses at the ad-
vance.
The continued weakness in Balti-
more & Ohio, and signs of heaviness
In Pennsylvania discouraged the buy
Ing of the railroad stocks, and they
were inclined to droop during the lat
ter part OF the day. The sustaining
force during that period was the adj
vance in Brooklyn Transit and the
steel stocks. In the former the bears
showed symptoms of alarm, recalling
their painful experiences during the
similar weakness in Third Avenue and
other traction stocks. There was no
news to account for the strength In
the steel stocks, but they were alb
sorbed with considerable confidence
and advanced easily on small trans
actions. Their gains at one time ran
from / to ga. Apparently the opinion
is gaining force that the decline in
price of iron and it's products has al
most run its course.
"A further rise in the price of lead
following the recover of yesterday
and the strength of silver on a large
demand from oriental countries, had a
tonic effect upon all the metal mar
kets. Sugar was active and cratic,
advancing on the rise in refined sugar,
but ~relapsing on profit taking. The
call by the treasury department for
the payment of a third instalment of
$4,000, 900 of government deposits had
no apparent effect on sentiment, as the
date fixed for the payment, July 1,
goes beyond the immediate pressing
demands on the money market which
will be for the July list settlements.
Time money continues to harden, but
call loans are still very easy.
Some of the speculative bonds show
sharp recoveries, but the market gen.
orally was irregular. Total sales, par
value, 81, 070, 900.
United Sattes IS coupon advanced
Y in the bid price.