Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-12-13

~
st. p, Chi. and Pacific 1sts....... lsS
sonth % pacif,c d. s2ss
Standard Rope and Irvine 6s........U
Texas and Pacific lists. .Hd
Union Pacific OBSERVATION-DISCLOSURES. 10.
Wabash lists NEUTRALITY-SUSPICIOUS.. .Iorz
do ENDS ..-.--....,...-'....-.. 1VoT2
West Shore As. ................'-... Zig
Virginia Centuries ............-.....-.-- "a
State bonds inactive.
Railroad bonds irregular.
Stocks-Activity in large number
of usually dormant securities was Ia
ken by traders to-day, to demonstrate
increased interest in the stock market
on the part of the outside public.
Gains in these properties were more
extensive than the usual market lead
ers, and extended to points in some
cases. Generally speaking. the mar
ket during the forenoon displayed
great animation and strength with
speculative interest radiating from one
group of stocks to another Factors
which contributed to the days rise
included traffic statements for the
first week Of December embracing all
sections of the country and showing
substantial increases. The fact that
as vet money rates have not exceeded
6 per cent and that to-day the high
est figure made was 51a, which tapered
off to 4 per cent. before the close, rem
dered spectators less uneasy. With
the absorption by the sub-treasury on
internal revenue collections and trans
fers to the interior, the banks thus
far this week have lost S3,200,00O.
Rates for sterling exchange continued
to yield sixty day bills, declining Ac.
1t is understood that the question OF
imports of gold is being considered
by a porminent institution on the basis
of allowing interest on the money while
in transit This relief apparently in
sight, should conditions becme strin-
gent in the money market, speculative
pools became active and forced con-
siderable covering of short lines.
The market for Americans abroad
was described as buoyant and the ar
bitrage houses bought $4,000 shares on
balance for London. This demand was
primarily responsible for the weakness
in sterling exchange rates as offerings
of commercial acceptances were only
moderate. At the outside Of business
the coal stocks were the principal
features and generally got we'll above
last nights close on an enormous de-
mand. These properties Inter on
showed the effect of heavy realiza
tons. Heavy buying developed in the
slow stocks owing to encouraging re-
ports of the trade outlook. Tin plate
made the extreme rise of Us, but .teel
and wire was the most active and a
good second with a gain OF 219 Sat
isfaction over the annual report pub
lished by the Brooklyn Rapid Transit
Company promoted a demand for The
stock and strengthened all the trac-
lions temporarily. There was very
heavy buying at intervals in the
grangers, Pacifics and some of the
Southern and Southwestern stocks
with Burlington, Kansas & Texas pre-
ferred and Louisville especially prom
inent. During the early afternoon af
ter the foreign buying had ceased, the
demand showed signs of exhaustion
and prices were inclined to yield.
Not much impression, however, was
made on prices when the traders real
lied and there were few strong spots
which kept the general market pretty
well in check. Unusually large deal
ings in the Lake Erie & Western
stocks caused a rise of 4 and 31s re-
spectively for the common and pre-
ferred and New York, Chicago G st.
Louis first preferred jumped four
points to 100. An increase of u per
cent to - per cent in the semi-an-
nual dividend on the Minneapolis, st.
Louis common stock resulted in a rise
of 212 in its price. In the final hour
a raid was made on Tennessee Coal
and the stock broke Az per cent on
rumor that the directors were in
session and had passed the quarterly
dividend on the stock. This move
ment unsettled the entire market and
prices fell away rapidly, averaging
point for the most prominent rail-
roads and extending 21a in the spe-
cialties, tin plates being most affect
ed. When it became known that the
report of the dividend action on Tenn
essee Coal was unfounded. the stock
rallied ? points and all other stocks
recovered somewhat Speculation
leaving off strong again and active.
Business in bonds was very heavy
and notable strength was displayed by
Kansas & Texas issues. Reading
fours got UP to 93A early but lost
practically the rise in sympathy with
the decline in the stock. Realizing
sales depressed the Erie issues all day,