Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-11-22

Railroad bonds strong.
To-days stock market represented moth
ing more than the routine progress oil a
speculative boom. There was Il continue
ance of a large and well distributed de-
mand for stocks, and there was very
heavy selling TO take profits. The result
was the same irregularity in price move
ment which has been more or less the rule
ever since the present speculative period
Logan The profit taking to-day some,
what overbore the new buying, or at all
events, the selling movements showed its
greatest force towards the close of the
session. so that the sentimental effect in
to-days market was on the side of reac-
ton to a greater extent than on previous
days. A comparative measure of the prof
1t taking on such days as yesterday and
to-day is difficult to fix but yesterdays
trading was clearly calculated to infu-
ence the advance because the buying
movement came late and overcame the
earlier depression. That influence was
clear this morning in the large buying or
ders which had come into commission
houses over night for execution London
also felt the influence and bought stocks
in the American department on a large
scale Assertions are made that the for
eign speculative public is showing a grow
ing interest in American stocks, but the
largest part o fthe foreign buying is at
tributed 10 the provision making against
the options sold by foreign dealers before
the elestion, a large part of which are still
10 come due with very heavy losses al
ready shown by the great advance in
prices. Undou btedly very large operations
are conducted also in London on cabled
instructions from New York. 1t was per-
fectly natural that the good market af-
ffded by the large buying this morning
should be taken advantage of to take
profits on the notable advance in prices of
yesterday. The first hour of the market
was furiousy active and remarkably
steady, the demand being felt so freely
as to preclude any sensational advances.
But as an impression began TO be made
on prices, the selling pressure was re-
n no l11frS n
cess of the speculative leaders who are at
the head of the present movement. Buy
ing was then diverted to new points and
under cover OF the notable advance thus
achieved the realizing was resumed. The
day closed with the market somewhat
overwhelmed with The volume of realiZ-
ing, although there We're some final raj
lies on short covering. But last prices
were near the lowest, except in the stocks
that had been especially strong. The
grangers We're foremost in this list, ST.
Paul leading with an extreme advance OF
3l2 per cent. Atchison common was very
heavily bought at an advance of 2Ss per
cent, Brooklyn Transit and other local
traction stocks, Louisville. and at one
time, Sugar and Peoples Gas. were also
strong points The Northern Pacific
stocks were naturally prominent in the
reactionary tendency after yesterdays
notable advance, and Pennsylvania was
also quite weak. The steel stocks yielded
to increasing pressure and closed the day
generally at net declines. The early
slltilS I'll III u mon dclllC, the DenNeI az
Rio Grandes and the st. Louis & San
Francisco stocks yielded to reaction. The
International Paper and Bag and Paper
stocks We're weak on talk of strong rival
organization. The demcnstrative publica-
ton of a bullish interview by the most
prominent individual operator in the street
was made the occasion for much of the
profit taking. Money continued easy and
the sub-treasury paid out 81 100000 on ac-
count of assay office checks for gold de-
posted at Pacific coast points from. Aus
traljia. This swelled the total debit bal
ance of the sub-treasury at the clearing
house to $2,041 406. The undertone OF the
sterling exchange market cintinues firm,
in spite of some large buying of stocks for
London account.
The bond market showed well distribute
ed strength on a large volume of dealings.
Total sales. pa rvalue 49, S45, 900.
Z. S. bonds were all unchanged on last
>all
Ouotations closed hid.