Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-12-11
Government bonds irregular
State bonds strong.
Railroad bonds irregular.

NEW YORK. December 10.-The eff
feet of the doubtful outlook in the
money market was clear to-day in the
small volume of business in stocks.
| The money market showed no sign OF
stringency and no liquidation was pre-
cipitated. In fact, the buying over
| bore the selling and there are more
net gains than losses as a result of
the days operations. The buying
seemed to come from uncovered
! shorts, judging from the fact that
those stocks which have suffered most
from recent depression were in fore
most demand to-day. This was not
ably true of the steel group, led by
! Tennessee Coal, which has been the
object of prolonged raid by the bears,
at an extreme expense of 20 points in
the value of the stocks. A rally of
, Az points at the extreme high point
| to-day therefore seems moderate.
( Other members of the steel group
move din sympathy and gained up
wards of a point all around, with the
exception of steel and wire. The lat
ter stock was under pressure. While
it recovered at one time to above Sat
urdays level, it closed weak and af-
| fected the whole group. Meetings of
/ the directors both of the Tennessee
Coal Company and the Steel & Wire
| Company were watched for develop
ments, but there were none of import
ance so far as the pubic was inform
! ed No action was taken on the divi-
dend by the Tennessee company to re-
flute the recent rumors that it would
be passed.. The Steel & Wire directors
ordered the payment of the last in
stallment of the years dividend de-
clared last year The strength of Su
gar was attributed to reports of an
over-sold condition in the trade indi-
Gated in an advance in the selling
price of refined sugars by the indie
pendent refners. Other industrial
stocks showed sharp recoveries with
no news TO explain the movement, be-
yond the obvious fact that they have
been recently sold short by profess
sional operators. The movement in
the railroad list seemed to be due to
the same cause but was much more
narrower. There was no evidence of
the large organized buying at any
point. such as has been an occasional
feature of the market for some time
past. The Erie stocks were much less
active, although the first preferred and
second preferred were at one time adj
vanced 11sQ14 respectively. The
! Pittsburg, c., c. e St. Louis stocks
rose 31a each on a light demand which,
however, brought out very little stock.
! The minimum rate for call money was
advanced to per cent. and ruled from
! that to per cent. There was no sign
of stringency and renewals were cas-
! lily effected, but all lenders held stiff
! ly for the advanced rates. The opin-
| ion has been in Wall street that no
relief was to be expected by gold i'm
ports, owing to the large requirements
of foreign money markets. but the vio-
| lent decline in foreign exchange to-
| day, both on London and on Continen-
tai points, renewed conjecture on that
point. Posted rates for sterling were
marked down a full cent in the pound
and the actual rates for short and
long sterling fell 1ac. and for cables
&c. The response of tomorrow
money market in London to this de-
velopment is awaited with interest.
Erie bonds continued in large de-
mand and were the feature of the bond
market. The price movement other