The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-18

and had promptly taken their profits.
Some of the recent influential bull OPP
orators had fairly reversed their posi-
tion to-day and were openly large SELL
ers Of stocks. There was sufficient
show Of strength in yesterdays market
to attract q considerable accumulation
OF buying orders from outside sources
this morning. In spite of opening re-
cessions this buying encouraged the
bulls to resume operations for the ad-
vance. The sharp twist to the short in
terest In Peoples Gas was an influen-
tial factor, In their favor. The definitlvc
announcement that the Peoples and
the Ogden companies had adjusted
their differences and had come under
one control caused excited trading In
Peoples Gas. Orders were simultan-
eously executed at quotations running
from 9I& down to % on the sale of
$500, shares at the opening. The price
was later run up an extreme IN. Ow-
ing TO the amount of long stock which
came out at that level. the price fell
back and the stock closed with net
gain OF only IL. The reaction in Peo-
pies Gas and the satisfaction of the
outside demand for stocks made the
latter manipulation for the advance in
cffectual. Southern railway preferred
and Louisville & Nashville were pushed
up rs and l7s and there was eager
buying of the Reading stocks on the
company's settlement with the miners.
Lake Eric & Western had q striking
advance of three points and Console
dated Gas rose AZ. There were some
substantial. gains In Il number OF less
prominent stocks and among them are
net gains saved on the day. But the
CLOSING SHnwal "a
throughout and was heavy with many
stocks at the lowest Of the day and net
losses the rule. The expectation Is
pretty confident that next Saturdays
bank statement will make q strong
showing, but there Is some recurrent
anxiety as to the future. 4 large part
of theSincominS sold imports are accu-
mutations picked UP from different
sources In the open markets and the re-
serves of the great banks abroad have
not been encroached upon. Unensiness
continues In foreign money markets as
to what will happen II New York makes
such demands for gold. Authorities In
the London money market attribute
the current ease OF money there to the
disbursement OF government credits
and they regard with disquict the con-
tinued course OF continental exchange
against them. The Bank of England
has attempted without success to stiff
fen discount rates by borrowing from
the open market. In view OF this nom
success. 1t is Il question whether the Of
| ficialS discount rate will be advanced
Tomorrow. The weekly statement OF
the imperial Bank OF Germany was no.
tably strong. but the Bank OF England
had to surrender gold TO Paris to-day,
as 1t did yesterday. In New York
funds continue available for borrowing,
but they come mostly from loan and
trust companies who draw on their de-
posits with the banks TO secure them,
thus forcing n shifting OF loans. The
currency relief from the sub-trensury
In believed to have about come to an
end and should q recovery In the price
OF cotton induce renewed funds from
the interior. the New York money mar
ket would again have to fnce the prob
lem OF falling reserves.
There was O falling Off In the bond
market and considerable irregularlty.
Total sales par value S1,500,0e0.
United States refundinE Is and the
old As advanced Y per cent on the last
call.