Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-09-26
Government bonds weak.
State bonds inactive.
Railroad bonds irregular.

DLdLG JULIUS ludCItNc'
Railroad bonds irregular.
Stocks-To-days rally in prices OF
stocks was very clearly due to COW
ering operations by the bears who
sold stocks last week while the forced
liquidation was going on. There were
signs, already evident yesterday, that
the professional bears had over-dis-
counted the decline, but the failure OF
a small stock exchange firm and the
distribution of yelling orders skill
fully arranged so as to appear to come
from last years newly returned bear
leader, renewed the confidence of the
bears, and their attack on the mar
ket late in the day was successful in
weakening it again. They continued
their efforts to further the decline in
prices this morning, and had good
success for a time in the most promi-
nent stocks, notably Sugar, Tobacco
and Peoples Gas, but the general list
failed to respond as readily as yes
terday to the weakness in these spec
ial stocks. The bears, in consequence,
bought to cover all through the list
and wrought some substantial rallies.
The declines in the specialties were
mostly wiped out, and Brooklyn Tran
sit and Peoples Gas were lifted a point
over last night. Last weeks liquida
ton apparently outran the needs of
the money market, and the raids on
stocks were not successful in dislodg-
ing selling orders. Some timidity was
induced in the bears by the possible
ties of suddenly favorable develop
ments In some directions The cut in
the price of steel rails has not led to
large buying, so far as known, and
railroad officials express dissatisfac-
ton that the price was not placed
lower. When the railroad companies
begin to place their contracts for the
coming year, however, an important
effect is sure to be produced on the
stocks Of steel companies generally.
Wall street is on the alert also for a
settlement of the coal strike, but there
was nothing to show the ihminence
of any such event outside the fears
felt by the bears. While the liquida
ton of last week seems to have met
the immediate needs of the money
market, the forces making towards
depletion of New York reserves con-
tinues in undiminished force The cur
rency movement to the interior is
very large, and the sub-treasury is
absorbing considerable sums from
the money market A sharp fall in
sterling was a reminder that New
York still dominates the international
exchanges, the stiffness of the London
money market proving unavailing to
check the decline in sterling in New
York. Sterling advanced, however, in
Berlin and Paris, in spite of the hard
ening money market at those centers.
While no doubt is felt that any wide
spread stringency in our domestic
money market would bring prompt re-
lief by gold imports, in view of our
large outstanding credits, no one sup
poses that the needs of mere specula-
tive holders of securities, however vio-
lent rise in the loan rate they might
effect, would induce any movement of
gold from Europe, under the circum-
stances attending this falls money
market there.
Bonds active in the market show adj
vances, but losses were scored by some
of the less active issues. Total sales,
par value, $550,000.
United States refunding IS when is
sued and the IS declined Il in the bid
price.