Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-10-10
Government bonds weak.
State bonds strong.
Paj1rOod bonds irra0fY1or


State bonds strong.
Railroad bonds irregular.
Stocks-The attention of the flnah-
cial and speculative world remained
fixed to-day on the problems of the
international money market. ALI the
worlds great money centers were kept
under careful scrutiny to detect deyel-
opment which might throw light upon
the outcome of the contest now inaug-
uraGed for the possession of the avail
able money supply. The engagement
of $4,000 in gold and its withdrawal
from the Bank of England for ship
ment to New York marked the begin
ming of the contest, and confirmed yes
terdaySS estimates that sterling ex-
change at New York had fallen within
the margin of profit for gold imports.
No announcement was made in New
York of this engagement, and it was
commonly supposed that the withdraw
al was made in anticipation of an adj
vance in the price of gold, with view
to future shipment The withdrawal
promptly precipitated an advance in
the Bank of England's price of gold,
gold bars and American eagles both be-
gin of profit on imports to New York
was thus wiped out. Sterling exchange
in New York, which had steadied this
morning after yesterdays downward
plunge, thereupon resumed downward
course and closed easy and still tend
ing towards the new level of gold i'm
ports established by the Bank of Eng
lands action. The discount rate in
England also responded for the first
time to the threatened demand for gold
and hardened slightly. Continental ex-
c., ., both on Berlin and Paris,
", led notably to-day on account
OF TIE heavy continental demand for
cotton, buying from that source being
superseded for the time being the Eng
fish demand, and in the afternoon it
was announced that 100000 francs
had been engaged in Paris for import
to New York. The Bank of France is
undoubtedly best equipped of all the
great European banks to spare gold
at this time. But it has pursued a pol
Icy of boarding for some time past and
the policy of the institution in the pro-
lection of its gold reserve is exceed
ingly arbitrary. 1t is taken for granted
that it will interpose an obstacle to the
drain lnaugurated to-day upon the
Paris markets gold supply. AS for
Berlin, to-day's weekly statement of
the Imperial bank shows that it has
lost nearly $2,000000 in cush during the
week, in spite of the receipts of gold
from London. although it has con-
tracted above half of the enormous note
issue of the previous week and has re-
called nearly $15,000,0 600 of last weeks
loan expansion, which exceeded S25,-
100000. 1t is clearly evident, there
fore, that New York will have to make
a more urgent call to effect a move
1nent hither of gold on any considera-
BILE scale. Meantime the local mar
ket continued to harden and the pro-
portion of call loans placed at 81 per
cent was considerably greater than
yesterdays. To-day's transfers of cur
rency to the interior through the sub
treasury again reached three-quarters
Of million dollars, and the banks
have lost to that institution since Fri
day $2,275, 5000. The movement by ex-
press is a matter of conjecture, but is
konwn to continue large. Speculative
action was considerably paralyzed,
penang the solution OF these money
market perplexities and the move
ment of prices in the iron
and steel groups, pretty much
all the members of the group coming
into the movement as the day pro-
crossed. with advances of from l to 2
points and over. This movement and
the announcement of the engagement
Of gold in Paris served to overcome
some of the early depression. Strength
in the local traction group was also a
factor. But the market closed dull and
irregular, with few net changes of i'm
portarce.
The movement in the bond market
was narrow and irregular. Total sales,
par value, S6S0000.
United States refunding Is, the IS
registered and new As declined u per
cent. On the last call.