Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-20
Mexican dollars 47%c.
Government bonds weak.
State bonds strong.
Railroad bonds strong.

Stocks-The stock market gave evil
part Of the speculative contingent to
discount the prospects of relief to the
money market. But the speculative
contingent is dependent on the money
market for funds to operate with, and
while there were symptoms of relax
alton in money rates, the present sup
ply is still extremely restricted.
Lenders of money are inclined to hold
out for high rates on the assumption
that interest rates will not relax until
after the April LIST settlements have
been disposed of. Borrowers take a
more hopeful view of the immediate
outlook and are inclined to await the
expected early easing of rates. There
was an appreciable stirring of specu-
lative interest to-day which was not
ably manifest in the railroad list, but
which was mostly confined to a few
stocks.
Baltimore e Ohio was the most con-
spicuous, with a rise of three points.
Union Pacific, Baltimore & Ohio pre-
ferred, Atchison preferred and the
Colorado and South stocks were all in
good demand and gained ove a point.
Mobile & Ohio and Minneapolis & st.
Louis preferred raise of 2 points. The
bears made attempts to obstruct the
rising tendency of prices. The first
made a raid upon the New York
stocks on the ground that the tax
levied under the new franchise tax
law will be considerable as to threaten
their ability to pay dividends. Later
an attack was made on the iron and
steel group, based on the threatened
strike of machinists. Neither of these
were very effective in breaking up the
strength manifest among the railroads.
In fact, the railroad list showed more
hesitation in face of the violent rallies
in the local traction groups than in
the weakness of the specialties. 1t is
well understood that the vicissitudes
of the New York stocks are nearly
concerned with a rivalry approaching
the character of a feud among some
of the most powerful financial inter-
ests in the street, and peaceful by
ISLANDERS have been shown to be as
likely to be injured in this conflict as
the actual participants. The chief
episode in this conflict to-day was the
severe punishment inflicted upon the
short interest in Third Avenue. This
stock touched 66k in the early decline
and reached S51a several times in the
violent fluctuations of the last half
hour of trading. Price changes
reached as much IL points between
sales. Metropolitan Street Railway
recovered al early loss in sympathy.
London bought quite freely of a few
stocks, especially the Atchisons and
Union Pacific. The total purchases on
this account of all stocks were esti-
mated at $1,000 shares. Relief was
manifest in the London money market,
due to disbursements on government
account. Neither the easier money in
London nor the large buying on Lon
don account here had any effect on
the market for sterling exchange
which held steady. New York ex-
change at Chicago jumped to IS cents
premium to-day, compared with a dis
count last week and the proportion O.
absorption of funds by the New York
s~ub-treasury is much smaller than fol
the same period last week. Factors
for the relief of the money market are
thus outlined, without regard to the
operation of the new currency law.
Operations in the railroad bonds
vas active and strong to-day and well
distributed. Total sales par value
1885, 900.
United States bonds scored a fur
Their sharp decline to-day, suggesting
the Liquidation of holdings by recent