Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-09-07
Mexican dollars, 48A.


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Do coupons OBSERVATION-DISCLOSURES l33a4
q. S. old is registered. ..................u IA
DO coupons .-...... .'.'....'....''''.' !t3.,
Do coupons ......... ..........'....s liza
Government bonds strong.
State bonds inactive.
Railroad bonds irregular.
Stoeks--The hopes aroused by yes
terday's increase in business that a
period of more active trading in stocks
vast at hand were disappointed to-
day. The stock market again became an
unimportant affair, and offered little of
interest as commentary on general con-
ditions or events. London in particular
newed its attitude of indifference to
wards American securities, and buy
ing for that account in New York fell
back to insignificant proportions. This
served to discourage the local traders,
who based some of their buying yes
terday on the hope that the London
market would take their holdings off
their hands. A hardening of the dis
count rate in London had something to
do with the setback to the stock mar
ket. The weekly statement for the
Bank of England disclosed that the
easy tone of the open money market
is not viewed with favor by the au-
thorities of the bank. The marked
recuperation in the proportion OF the
banks reserve is due not only TO re-
oeipts of gold and re-payments of loans
to the bank, to the extent OF over
SO, 900, 900 in each case, but also to the
banks extensive operations to control
the open market, disclosed by the de-
crease of $40, 100000 in the price of gov
eminent securities, which is equivalent
to borrowing that amount from the
open fffarket Such policy on the part
of the Bank of England IS regarded as
an index OF the belief that the prevail
ing ease of money will not last long.
The rise in the discount rate at Berlin
and the fall there Of sterling exchange,
were also incidents of the day. The
fall in sterling exchange at New York
was attributed to the increased volume
of bills offered. The rebuff given by
London to the New York bulls was en-
phasized by the weakness of the an
thracite coalers, which declined on the
al of hxr tho m
the miners and the fears thereby caused
of strike. Reading first preferred.
New Jersey Central, Delaware altt
Hudson and Pennsylvania were down
during the day from 81 to is, with
some subsequent recovery. Ontario and
Western was an exception and was firm
on the strong statement of the years
income The steel stocks were heavy as
a rule, apparently ON the refusal OF the
trunk lines TO grant reduced rates. Col
orado Fuel was an exception On the
heavy increase in in net earnings re-
ported for July over those of a year ago.
The continued decrease in the
price of iron also affected the
group. The bears were disposed
to let Peoples Gas and Brooklyn Tran
sit alone, mindful OF their recent I'M
pleasant experience with sugar. Where
there was an easy demand developed,
there was significant scur-y of stocks.
This was not able IN Southern Railway
preferred, which was advanced from
525s TO IS. The buying of this stock
was attributed to the high price of Cot
ton, which is a direct benefit to the
Southern railway. Southern Pacific was
well absorbed on the denial of recent
reports of friction among insiders. The
list as whole hung heavy and neglect
ed through the day.
Kansas City Southern bonds we're