Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-12
Government bonds firm.
State bonds inactive.
Railroad bonds heavy.

Stocks-After a day of great irregu-
larity in the movement of prices and an
extremely narrow interest in the mar
ket prices of stocks closed generally
lower and on the down grade. There
were one or two periods Of firmness and
few special features of strength, but
practically all the gains were wiped
out The market opened generally
higher in the South with better tone
abroad. Estimates by arbitrage houses
OF buying for London account place the
number of shares of the general list
at upwards of 20, 900. Advantage was
promptly taken of this London buying
to realize, and the level of the market
fell below Saturdays close. Missouri
Pacific ran off over a point and the
grangers were under pressure on the
ground of continued drouth in the
northwest to which was attributed the
durlously active and excited wheat
market. Buying of Reading first pre-
TERED and of Northern Pacific turned
the tide of prices upward again. The
trunk line railroad stocks led by Balti-
more & Ohio showed some degree of
strength. The late reaction in the
market had it's inception in Northern
Pacific. The stock fell away on the
announcement that the meeting to
consider the rate of dividend which had
been fixed for Wednesday had been
postponed to Friday to await the ar
rival of an influential member of the
voting trustees. Coupled with the
opinion reported by ]. J. Hill, that sit
will be well for us all to go a little
show in increasing dividends, fears
were awakened in the minds of trad
ers that disappointment is forthcom-
ing about the dividend on Northern
Pacific common, which they have ex-
pected would be increased to a regular
Semi-annual dividend of 2 per cent. B.
& 0. showed the closest sympathy with
Northern Pacific on account of Mr.
Hills large influence in that company.
The extreme decline in the two stocks
was rs for Northern Pacific and Ia
for B. & o. The whole market ran Off
and closed about steady, but without
any tendency to recovery. Some of
the strength of Americans in London
was due to a report that there had
been rains in the spring wheat belt,
but the latter developments in the
wheat market of course counteracted
this. The principal influence in i'm
provement of foreign stocks was the
more cheerful tone of the Berlin mar
ket and the belief that the crisis in
money affairs this week was past. The
strong return for the week of the i'm
perial bank of Germany emphasized
this feeling. But discount rates In
Berlin advanced again to-day and in
New York both the sterling exchange
rate and the rate on Berlin rose a frac-
ton, Notwithstanding the purchase
here of stocks for foreign account The
late weakness of the market was no
doubt partly due to the report which
found currency near the close that gold
to a considerable amount would be
shipped by next Thursdays steamer
from New York to the continent. Sta
tistics of railroad traffic from Chicago
show further falling off in the re-
ceipts of grain at that point, although
the east-bound movement of freight
was considerably better than the week
before
The comparative firmness of the
trunk line stocks was thus explained.
The bond market was very dull and
inclined to be heavy, though there
were few exceptions. Sales par value
$1,625, 900.
United States new As advanced Y In
the bid price.